香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性或完整性亦不發表 任何聲明，並明確表示，概不對因本公告全部或任何部分內容而產生或因依賴該等內容而引致之任何損失承擔任 何責任。 Red Star Macalline Group Corporation Ltd. 紅星美凱龍家居集團股份有限公司 （一家於中華人民共和國註冊成立的中外合資股份有限公司） （股份代號：1528） 海外監管公告 本公告乃由紅星美凱龍家居集團股份有限公司（「本公司」）根據香港聯合交易所有 限公司證券上市規則第13.10B條作出。 以下為本公司於上海證券交易所網站刊發之《北京市金杜律師事務所上海分所關 於紅星美凱龍家居集團股份有限公司2024年年度股東大會之法律意見書》，僅供 參閱。 承董事會命 紅星美凱龍家居集團股份有限公司 邱喆 董事會秘書兼聯席公司秘書 中國上海，2025年5月23日 於本公告日期，本公司的執行董事為李玉鵬、車建興、施姚峰及楊映武；非執行董事為鄒少榮、李建宏、宋廣斌 及許迪；及獨立非執行董事為薛偉、黃建忠、陳善昂、黃志偉及蔡慶輝。 北京市金杜律师事务所上海分所 关于红星美凯龙家居集团股份 ...

Core Viewpoint - The real estate market in China is experiencing significant declines in both new housing sales and overall market performance, leading to challenges for companies like Meikailong, which is facing substantial financial losses and operational difficulties [1][2]. Group 1: Market Performance - In 2024, the total sales area of new commercial housing reached 97.385 million square meters, a year-on-year decrease of 12.9%, with sales revenue dropping to 967.5 billion yuan, down 17.1% [1]. - The sales area and revenue for residential properties fell by 14.1% and 17.6% respectively compared to 2023 [1]. - The nationwide sales revenue of large-scale building materials and home furnishing markets was 1.49 trillion yuan, a decrease of 3.9%, marking the third consecutive year of negative growth [1]. Group 2: Company Financials - Meikailong reported total revenue of 7.821 billion yuan in 2024, a significant decline of 32.1%, with net losses reaching 2.983 billion yuan, an increase of 34.6% from 2023 [1][2]. - Cumulatively, Meikailong's net losses from 2023 to 2024 amounted to 5.560 billion yuan, exceeding the total net profit from 2020 to 2022 by 639 million yuan [2]. - The company's cash flow from operating activities plummeted by 90.8% to 216 million yuan [1]. Group 3: Business Model and Operations - Meikailong's revenue heavily relies on direct sales and joint ventures, with 70% of income coming from these channels, which have seen a significant reduction in performance over the past two years [3][4]. - The number of self-owned stores increased slightly from 53 to 62 between 2019 and 2024, but overall expansion has stagnated, with rental stores experiencing a sharp decline [4][5]. - The average operating income per square meter for self-owned and rental stores has decreased significantly since 2019, with declines of 37.3% and 27.1% respectively [5]. Group 4: Cost Management and Financial Pressure - Meikailong managed to reduce operating costs by 34.5% in 2024, but financial expenses remain high, with interest payments reaching 2.532 billion yuan, accounting for 32.4% of total revenue [10][13]. - The company's financial expense ratio has exceeded 30%, indicating ongoing financial strain compared to competitors [13]. - Despite cost-cutting measures, the net profit margin for 2024 was -40.8%, worsening from -20.6% in 2023 [15]. Group 5: Real Estate and Asset Management - Meikailong's investment properties have seen a fair value loss exceeding 2.8 billion yuan, contributing to liquidity issues [16][17]. - The company's reliance on self-owned properties has led to a high asset-liability ratio of approximately 57.4% in 2024, with short-term debts totaling 8.525 billion yuan against cash reserves of only 3.795 billion yuan [17].

出品：新浪财经上市公司研究院 作者：木予 据国家统计局数据显示，2024年新建商品房销售面积共97385万平方米，同比下降12.9%，新建商品房销售额共96750亿元，同比下降17.1%。其中，住宅销 售面积和销售额分别较2023年下降14.1%、17.6%。随着房地产行业进入存量时代，新房市场家居消费持续疲软，二手房装修、存量房翻新、旧房改造需求 虽然显著提升，但市场相对分散且决策周期长，短期内难以弥补缺口。 而据中国建材流通协会数据披露，2024年全国规模以上建材家居卖场累计销售额为1.49万亿元，同比减少3.9%；规模以上建材家居市场面积约为20495万平 方米，同比减少9.6%，连续第三年负增长且降幅扩大，整体空置率随之上升。与此同时，消费者偏好线上购物，导致传统线下卖场不再是唯一流量入口， 个性化、整家定制和智能家居的需求上升，也是单品零售模式式微的关键原因之一。 截至4月30日，居然智家、美凯龙和富森美3家A股上市的家居卖场公司均已发布2024年业绩报告。受新房销售低迷、消费信心不足及竞争加剧等多重不利因 素影响，报告期内三大公司皆营收、净利双降，门店坪效显著缩水，美凯龙的多元化战略、居然智家的数 ...

Core Insights - The 618 event organized by Red Star Macalline aims to create the largest consumption festival in the home furnishing industry, leveraging over 400 shopping malls and significant resources for promotions [1][6][23] - The company is addressing the transition from "incremental competition" to "deep cultivation of stock" in the home furnishing industry, focusing on market challenges such as oversupply and fragmented traffic [3][8] Group 1: Event Overview - The 618 event will run from May 23 to June 22, featuring a large-scale promotional campaign across online and offline platforms [1] - Red Star Macalline's chairman, Li Yupeng, emphasized collaboration with industry partners to enhance sales and consumer engagement [5][8] Group 2: Strategic Directions - Li Yupeng proposed three strategies: leveraging the national "old-for-new" policy, reinforcing the main home furnishing sector, and innovating services to activate the stock market [3][6] - The company aims to implement localized services to help brands and consumers benefit from government subsidies [6][8] Group 3: Key Initiatives - Four core initiatives were outlined for the 618 event: joint marketing efforts, upgrading online traffic strategies, a comprehensive service plan, and building a home service system to enhance customer experience [6][8] - Collaborations with platforms like Douyin and Xiaohongshu will be utilized to attract younger consumers and create a seamless online-to-offline experience [6][21] Group 4: Industry Collaboration - Major brands such as Serta and Arrow Home have committed to participating in the 618 event, offering exclusive promotions and products [10][13] - The event is seen as a significant opportunity for the home furnishing industry to boost consumer confidence and sales amid market challenges [8][18]

Group 1 - The core viewpoint of the articles highlights the challenges faced by the home appliance industry, including a shift towards brand concentration and the struggles of small to medium enterprises amid a cooling consumer market [2][3] - The 618 shopping festival has become a stage for leading appliance brands, with overall market activity being subdued and promotional events returning to a normalized state [2] - The home appliance sector is experiencing significant changes, including leadership changes in major small appliance companies like Midea, Supor, and Joyoung, indicating operational challenges and the need for strategic adjustments [8] Group 2 - The home appliance industry is undergoing a standardization push, with 10 new industry standards set to be implemented by November 2025, focusing on quality upgrades and technological innovation [4] - The recent adjustment of tariffs between China and the U.S. is seen as a potential turning point for appliance companies, allowing for increased cross-border trade and production acceleration [5][6] - The after-sales service sector is being enhanced, with 105 leading service companies recognized, including Haier and Midea, reflecting a growing emphasis on service quality in the appliance market [7] Group 3 - Midea is actively pursuing acquisitions to strengthen its market position, including the purchase of Teka Group and strategic agreements with other companies to enhance its capabilities in the HVAC sector [10] - Haier and Hisense are launching innovative products aimed at improving consumer health and sleep quality, with Haier's "washing air" air conditioner and Hisense's new air conditioning solutions [11][12] - The financial performance of companies like Aucma has deteriorated, with a reported loss in 2024, highlighting the operational uncertainties faced by traditional appliance manufacturers [13] Group 4 - TCL has achieved significant market success during the 618 event, securing multiple top rankings in sales, showcasing the effectiveness of its product strategy focused on high-end and large-screen technology [14] - Samsung is expanding its presence in the HVAC market through a major acquisition, while Panasonic is selling "slightly flawed" appliances at discounted prices, indicating a strategic shift in product offerings [15] - Sony and Sharp are facing operational challenges, with Sony projecting a decline in revenue for the upcoming fiscal year and Sharp announcing the sale of its LCD panel factory due to poor performance [16]

一周财经人物（2025年5月12日—5月18日） 遇,亦尊重彼此选择。未来将以母 亲、制片人、公益践行者的身份继 续前行。 -- 甘薇称与贾跃亭离婚不是为 资产转移 类 注 · 从木匠到首富再到债务缠身,美凯龙创始人被调查 ·控制多个账户!一股民遭证监会处罚近3亿元 人害 ·中国电信高层变动:刘桂清上任总裁 · 深业集团换帅,政企跨界高管王昱文接棒 · 美的徐曼锋离职,去年连辞12家美的系公司职务 · "J页流"张坤卸任易方达副总,专注搞投资 ·80后"研究女将"武超则,获任中信建投党委委员 ·非法收受巨额财物,招行原副行长丁伟被提起公诉 :安华制图:沈淑婷 控制多个账户、操纵证券市场！一股民遭证监会处罚近3亿元 日前，证监会披露一则罚单显示，何某儒因操纵证券市场，受到证监会处罚，罚没合计2.94亿元。 头条 方洪波谈"董小姐"背后：国产家电巨头的恩怨13年 近日，美的集团董事长兼总裁方洪波被问到企业接班问题时的回答引发热议。在分析师问方洪波接班人 的问题时，方洪波回答："为啥你去年问我今年又问我，你问过董小姐吗？" 而这个方洪波口中的"董小姐"正是不久前再次连任格力电器董事长的董明珠。方洪波和董明珠，两人都 ...

创始人突发留置 若只看股价，总经理被留置一事对红星美凯龙的影响似乎不是很大。5月14日，红星美凯龙发布了关于 董事兼总经理被留置的公告。公告显示，公司接到董事车建兴家属的通知，其于近日收到云南省监察委 员会电话通知，对车建兴立案调查并实施留置措施。 截至公告披露日，红星美凯龙未收到任何书面形式的《留置通知书》《立案通知书》，同样未收到云南 省监察委员会需要协助调查或提供任何资料的要求。目前，红星美凯龙其他董监高人员均正常履职，公 司组织架构及内部控制机制完善，上述事项不会对公司日常经营活动产生重大影响。 5月14日，红星美凯龙A股报收2.91元/股，跌幅为1.36%；港股报收1.370港元/股，跌幅为2.14%。当日， 红星美凯龙方面对《华夏时报》记者表示："我们接到的消息也就是公告披露的那些，目前也没有新消 息。" 公开资料显示，红星美凯龙是国内领先的家居装饰及家具商场运营商和泛家具业务平台服务商，主要通 过经营和管理自营商场等，为商户、消费者和合作方提供全面服务。此外，红星美凯龙还提供包括互联 网零售、装修设计等泛家居消费服务。 数据显示，截至2024年年底，红星美凯龙自营商场为77家，平均出租率为83. ...

| | | 原定任期 | | 具体职务 | 未履行完 | | --- | --- | --- | --- | --- | --- | | 姓名 | 离任职务 | 离任时间 | 离任原因 | 市公司及其控 | | | | | 到期日 | | （如适用） | 毕的公开 | | | | | 股子公司任职 | | | 承诺 郑永达 非执行董事 2025 年 5 2026 年 8 工作调整 否 不适用 否 月 16 日 月 14 日 二、离任对公司的影响 红星美凯龙家居集团股份有限公司 证券代码：601828 证券简称：美凯龙 编号：2025-038 红星美凯龙家居集团股份有限公司 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 一、提前离任的基本情况 是否存在 是否继续在上 根据《公司法》 《公司章程》等相关规定，郑永达先生的辞任不会导致公司董事 会人数低于法定最低人数，不会影响公司董事会依法规范运作和公司的正常经营， 其辞任报告自送达公司董事会之日起生效。公司按照相关法定程序，将择日启动新 任董事的补选工作。 郑永达先生在担任公司董 ...

红星美凯龙家居集团股份有限公司（以下简称"公司"）于近日收到公司董 事郑永达先生递交的辞任报告。郑永达先生因工作调动，申请辞去公司第五届董 事会非执行董事及董事会战略与投资委员会、提名委员会和薪酬与考核委员会委 员职务。 郑永达先生已确认与董事会和公司并无意见分歧，亦无其他任何与辞任有关 而须知会公司股东及交易所的相关事宜。 证券代码：601828 证券简称：美凯龙 编号：2025-038 红星美凯龙家居集团股份有限公司 关于董事辞任的公告 本公司董事会及全体董事保证本公告内容不存在任何虚假记载、误导性陈 述或者重大遗漏，并对其内容的真实性、准确性和完整性承担法律责任。 | 姓名 | 离任职务 | 离任时间 | | 原定任期 | | 离任原因 | 是否继续在上 市公司及其控 | 具体职务 | 是否存在 未履行完 | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | | | | | 到期日 | | | 股子公司任职 | （如适用） | 毕的公开 承诺 | | 郑永达 | 非执行董事 | 2025 | 年 5 | 2026 8 | 年 ...

Red Star Macalline Group Corporation Ltd. 紅星美凱龍家居集團股份有限公司 附註： C： 董事委員會主席 M： 董事委員會成員 中國上海 2025年5月16日 （一家於中華人民共和國註冊成立的中外合資股份有限公司） （股份代號：1528） 董事名單與董事角色及職能 紅星美凱龍家居集團股份有限公司董事會（「董事會」）成員及其各自於董事會及董 事委員會的角色及職能載列如下： | | 董事委員會 | | 薪酬與 | | 戰略與 | | --- | --- | --- | --- | --- | --- | | 董事 | | 審計委員會 | 考核委員會 | 提名委員會 | 投資委員會 | | 執行董事 | | | | | | | 李玉鵬先生（董事長） | | | | | C | | 車建興先生 | | | | M | M | | 施姚峰先生 | | | | | M | | 楊映武先生 | | | | | | | 非執行董事 | | | | | | | 鄒少榮先生 | | M | | | M | | 李建宏先生 | | | | | M | | 許迪女士 | | | | | | | ...