红星美凯龙家居集团股份有限公司 第五届董事会第八次会议决议公告 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。 红星美凯龙家居集团股份有限公司（以下简称"公司"）第五届董事会第八 次会议以电子邮件方式于 2025 年 4 月 15 日发出通知和会议材料，并于 2025 年 4 月 29 日以现场结合通讯方式召开。会议应出席董事 14 人，实际出席董事 14 人，会议由董事长李玉鹏主持，会议的召开符合《中华人民共和国公司法》和《红 星美凯龙家居集团股份有限公司章程》的有关规定。会议形成了如下决议： 一、审议通过《公司 2025 年第一季度报告》 本议案经由董事会审计委员会审议通过，并同意提交董事会审议。 表决结果: 同意 14 票、反对 0 票、弃权 0 票。 二、审议通过《关于续聘公司 2025 年度财务报告审计机构及内部控制审计机构 的议案》 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：2025-030 红星美凯龙家居集团股份有限公司董事会 1 红星美凯龙家居集团股份有限公司 2025 年 ...

Financial Performance - The group's operating revenue for the three months ended March 31, 2025, was RMB 1,615,436,680.31, a decrease of 23.5% compared to RMB 2,111,539,269.77 for the same period in 2024[6]. - The net loss attributable to the owners of the parent company for the period was RMB 513,410,914.99, compared to a net loss of RMB 371,506,929.54 in the same period of 2024, indicating a worsening of 38.1%[7]. - The total comprehensive loss for the period was RMB 649,928,540.27, compared to RMB 412,662,896.49 in the same period of 2024, representing an increase of 57.5%[7]. - The net profit attributable to the owners of the parent company, excluding non-recurring gains and losses, was RMB -218,498,099.14, compared to RMB -119,275,435.40 in the same period of 2024, indicating an expanded loss[8]. Cash Flow and Liquidity - The group's net cash flow from operating activities was a negative RMB 112,448,762.92, compared to a negative RMB 181,674,312.38 in the same period of 2024, showing an improvement in cash flow[12]. - The net cash and cash equivalents at the end of the period increased to RMB 4,106,161,618.80 from RMB 3,304,603,819.16 in the same period of 2024, reflecting a net increase of RMB 994,328,646.77[12]. - Cash and cash equivalents increased to RMB 4,890,213,928.48 as of March 31, 2025, up from RMB 3,794,656,071.56 as of December 31, 2024, marking a growth of about 29%[13]. Assets and Liabilities - As of March 31, 2025, the total current assets amounted to RMB 9,979,283,936.12, an increase from RMB 8,975,755,816.47 as of December 31, 2024, representing an increase of approximately 11.2%[13]. - The total liabilities as of March 31, 2025, were RMB 67,654,272,270.33, compared to RMB 66,716,427,502.65 as of December 31, 2024, indicating a growth of about 1.4%[14]. - The total equity attributable to shareholders decreased to RMB 45,922,469,241.91 as of March 31, 2025, from RMB 46,489,696,858.89 as of December 31, 2024, reflecting a decline of approximately 1.2%[14]. - The total borrowings of the group at the end of the reporting period were RMB 30,156,158,991.34[15]. - The long-term borrowings increased to RMB 18,586,689,041.71 as of March 31, 2025, compared to RMB 17,703,683,711.83 as of December 31, 2024, reflecting an increase of approximately 5%[14]. - The total liabilities to equity ratio as of March 31, 2025, was approximately 1.38, compared to 1.35 as of December 31, 2024, indicating a slight increase in leverage[14]. Investment and Expenses - The fair value loss on investment properties for the period was RMB 476,077,922.63, an increase from RMB 324,385,651.35 in the same period of 2024, primarily due to rental income decline[11]. - The group's financial expenses decreased, attributed to a reduction in financing costs during the reporting period[10]. - The group's R&D expenses for the period were RMB 1,863,905.08, down from RMB 3,658,192.56 in the same period of 2024, indicating a reduction in investment in research and development[6]. Operational Metrics - The group reported a decrease in the number of shopping malls compared to the same period last year, contributing to the decline in operating revenue[9]. - The inventory decreased to RMB 46,553,609.54 as of March 31, 2025, from RMB 53,065,471.64 as of December 31, 2024, representing a decline of approximately 12.3%[13]. - The total non-current assets amounted to RMB 106,553,609,352.77 as of March 31, 2025, slightly down from RMB 107,261,466,936.10 as of December 31, 2024, indicating a decrease of about 0.66%[13]. - The group reported a decrease in other comprehensive income to RMB 270,306,707.98 as of March 31, 2025, down from RMB 361,430,032.80 as of December 31, 2024, reflecting a decline of about 25.2%[14].

Financial Performance - The company's revenue for 2024 was RMB 7,821,266, a decrease of 32.5% from RMB 11,514,983 in 2023[11]. - Gross profit for 2024 was RMB 4,987,001, with a gross margin of 63.8%, compared to a gross profit of RMB 7,033,253 and a margin of 61.1% in 2023[11]. - The company reported a net loss attributable to shareholders of RMB 3,492,042 for 2024, which is a 44.6% loss rate, compared to a loss of RMB 2,412,713 and a 21.0% loss rate in 2023[11]. - The company did not declare any dividends for 2024, maintaining the same position as in 2023[11]. - The company recorded a total loss attributable to owners of RMB 3,492.0 million, an increase of 44.7% from RMB 2,412.7 million in 2023[53]. - The core net loss attributable to owners was RMB 1,327.4 million, up 55.0% from RMB 856.4 million in 2023[53]. - The company's operating costs were RMB 2,834.3 million, down 36.7% from RMB 4,481.7 million in 2023, reflecting the decline in revenue[48]. - Selling and distribution expenses were RMB 1,028.3 million, accounting for 13.1% of revenue, down 30.7% from RMB 1,483.1 million in 2023[52]. - Administrative expenses decreased to RMB 1,451.7 million, representing 18.6% of revenue, compared to RMB 1,762.5 million (15.3% of revenue) in 2023[53]. Operational Metrics - The number of operational malls decreased to 334 in 2024 from 362 in 2023, with a total operating area of 20,325,659 square meters[15]. - The average occupancy rate for self-operated malls was 83.0% in 2024, slightly up from 82.8% in 2023[15]. - The company operated 77 self-operated malls in 2024, down from 87 in 2023, with a self-operated mall area of 7,512,689 square meters[15]. - The number of managed malls decreased to 257 in 2024 from 275 in 2023, with an average occupancy rate of 82.5%[15]. - The company operated 77 self-operated malls with an average occupancy rate of 83.0% and 257 managed malls with an average occupancy rate of 82.5%[31]. Strategic Goals and Market Position - The company aims to strengthen its market leadership and enhance its brand as a home living expert in China[6]. - The company has a strategic goal to become the leading and most professional "omni-channel home business platform service provider" in China[6]. - The company aims to transform from a traditional building materials and home furnishing service provider to a comprehensive lifestyle aggregator by 2025[25]. - The company plans to continue its market-oriented operations and mall management model to strengthen its brand as a home living expert and establish itself as a leading all-channel home service platform in China by 2025[78]. Digital Transformation and Innovation - The company is focusing on digital transformation, launching products like "Merchant Point Deduction Contract" and "SCRM System" to enhance service quality and consumer experience[23]. - The company is actively exploring online retail channels, enhancing its presence on platforms like Douyin and Xiaohongshu to attract more consumers[24]. - The company is focusing on digital marketing capabilities by developing digital tools to enhance brand and merchant engagement[80]. - The company intends to strengthen its presence in the home decoration sector by establishing a high-end design center and linking with young and high-end consumer groups[82]. - The company will enhance its digital operations and explore new online retail channels to achieve comprehensive customer acquisition and marketing[82]. Risk Management and Compliance - The company has implemented risk management measures to address foreign exchange risks, including the use of forward contracts and currency swaps[70]. - The company faces risks related to macroeconomic slowdowns and cyclical fluctuations in the real estate industry, which could negatively impact demand in the home decoration and furniture retail sector[73]. - The board is responsible for assessing and determining risks related to environmental, social, and governance (ESG) matters, ensuring effective risk management and internal control systems are in place[118]. - The company has established independent departments for financial management, legal affairs, and internal compliance to ensure adherence to relevant laws and regulations[120]. Corporate Governance - The company appointed several new independent non-executive directors in August 2023, enhancing its governance structure[98][99][100][101][102]. - The new board members bring diverse expertise from various sectors, including finance, law, and technology, which may contribute to strategic decision-making[93][94][95][96][97]. - The management team includes professionals with extensive backgrounds in finance and investment, potentially improving financial oversight and strategic investments[95][96][99]. - The company is committed to improving corporate governance and adhering to legal and ethical standards while fulfilling social responsibilities[83]. Investment and Capital Expenditure - The company has a total operational area of 20,325,659 square meters across 202 cities in 30 provinces and municipalities[31]. - The company’s capital expenditure for the period was RMB 370,300,000, a 5.4% increase from RMB 351,300,000 in 2023[58]. - The company has signed contracts for capital expenditures related to the acquisition and development of investment properties amounting to RMB 724.8 million, with additional commitments of RMB 233.1 million for joint development with partners[69]. - The company has fully utilized RMB 400,000,000 for repaying bank loans and RMB 150,008,000 for supplementing working capital[192]. Employee and Talent Management - The group employed 11,553 staff, with total salary expenses projected at RMB 2,177.2 million for 2024, down from RMB 2,584.8 million in 2023[72]. - The company has established various talent development and retention plans to mitigate risks associated with talent shortages and turnover as it expands its operations[75]. - The company has a competitive compensation scheme to attract and motivate employees, regularly reviewing and adjusting it to meet market standards[123]. Environmental Compliance - The company is committed to complying with various environmental laws and regulations, including the Prevention and Control of Water Pollution Law and the Air Pollution Prevention and Control Law[116]. - The company has implemented measures to ensure compliance with applicable environmental laws, including strict contractor selection and supervision during construction[117]. - The company has a strong focus on energy-saving and emission-reduction considerations in its property project designs[117]. Shareholder and Financial Management - The company has a profit distribution policy that mandates a minimum cash dividend of 20% of the net profit available for distribution to shareholders in profitable years[121]. - As of the reporting period, the company's distributable reserves amounted to RMB 6,329.85 million[134]. - The company issued USD bonds with a total face value of USD 249.7 million at a fixed interest rate of 5.2% for a term of 3 years[126]. - The company has no significant disputes with suppliers or customers during the reporting period, emphasizing the importance of maintaining good relationships[123].

Financial Performance - The company's operating revenue for Q1 2025 was ¥1,615,436,680.31, a decrease of 23.49% compared to ¥2,111,539,269.77 in the same period last year[4] - The net profit attributable to shareholders was -¥513,410,914.99, compared to -¥371,506,929.54 in the previous year, indicating a worsening financial performance[4] - The basic earnings per share were -¥0.12, down from -¥0.09 year-on-year[4] - The net profit for the first quarter of 2025 was -596,111,838.28 RMB, compared to -357,450,119.89 RMB in the first quarter of 2024, indicating a significant increase in losses[24] - Total comprehensive income for the first quarter of 2025 was -649,928,540.27 RMB, compared to -412,662,896.49 RMB in the same period last year[25] Cash Flow and Liquidity - The net cash flow from operating activities was -¥112,448,762.92, an improvement from -¥181,674,312.38 in the same period last year[4] - Operating cash flow for the first quarter of 2025 was -112,448,762.92 RMB, an improvement from -181,674,312.38 RMB in the first quarter of 2024[28] - Cash and cash equivalents increased to CNY 4,890,213,928.48 from CNY 3,794,656,071.56, representing a growth of 28.9%[19] - Cash and cash equivalents at the end of the first quarter of 2025 amounted to 4,106,161,618.80 RMB, up from 3,304,603,819.16 RMB at the end of the first quarter of 2024[29] Assets and Liabilities - Total assets at the end of the reporting period were ¥116,532,893,288.89, a slight increase of 0.25% from ¥116,237,222,752.57 at the end of the previous year[5] - Total liabilities increased to CNY 67,654,272,270.33 from CNY 66,716,427,502.65, reflecting a growth of 1.4%[21] - Total equity decreased to CNY 48,878,621,018.56 from CNY 49,520,795,249.92, a decline of 1.3%[21] - Long-term borrowings increased to CNY 18,586,689,041.71 from CNY 17,703,683,711.83, an increase of 5.0%[20] Operational Changes and Strategies - The decline in operating revenue was primarily due to a decrease in rental income and a reduction in the number of shopping malls, leading to a slowdown in other business segments[8] - The company continued to provide incentives to support merchants, which contributed to the decline in rental income[8] - The company plans to apply for a loan from its controlling shareholder, Xiamen Jianfa Co., Ltd., with a total borrowing limit of 9.5 billion RMB to improve liquidity and fund utilization efficiency[16] - The company has proposed to exempt part of its voluntary commitments to better activate assets and address issues related to stalled projects and idle assets, allowing for phased pre-sales of properties[12] - The company completed the change of controlling shareholder and actual controller on August 15, 2023, which is expected to enhance long-term sustainable operational capabilities[12] - The company aims to enhance project funding turnover efficiency through pre-sale funds and project financing, without significantly impacting cash flow from main operations[12] Management and Governance - The board of directors approved the appointment of Li Yupeng as the new chairman and executive director, effective from March 21, 2025[15] - The company has undergone a management change, with the resignation of key executives, including the former chairman and vice president[14][15] - The company’s board has approved a framework agreement for borrowing, pending shareholder approval, to ensure financial flexibility[16] Shareholder Information - The total number of ordinary shareholders at the end of the reporting period was 58,858[10] - The company has seen changes in its top 10 shareholders, with no significant changes reported in the lending or borrowing of shares[12] - The company has not reported any significant changes in the participation of major shareholders in margin trading or securities lending activities[12]

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：2025-032 红星美凯龙家居集团股份有限公司 关于提供财务资助进展的公告 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。 重要内容提示： 1、根据《红星美凯龙家居集团股份有限公司提供财务资助管理制度》，红星 美凯龙家居集团股份有限公司（以下简称"公司"）及其控股子公司（以下统称 "本集团"）于 2025 年 1 月-3 月期间（以下简称"本公告期间"）无新增对外 财务资助。 单位：万元 2、截至 2025 年 3 月 31 日，本集团对合并报表外单位提供财务资助本金总 余额为 256,397.39 万元（尾数存在差异系四舍五入造成），其中未到期的财务资 助本金余额为 72,107.64 万元，逾期未收回的财务资助本金余额为 184,289.76 万元。本集团密切关注财务资助的可回收性，公司根据《企业会计准则》，以预 期信用损失为基础，并按照财务资助相关主体实际的经营状况，对财务资助未来 的可收回情况进行了分析和测试，计提了相关财务资助减值准备。 ...

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：2025-031 红星美凯龙家居集团股份有限公司 关于续聘公司 2025 年度财务报告审计机构及内 部控制审计机构的公告 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。 重要内容提示： 拟聘任的会计师事务所名称：容诚会计师事务所（特殊普通合伙）（以下简 称"容诚会计师事务所"）、先机会计师行有限公司（以下简称"先机会计师行"）。 2025 年 4 月 29 日，红星美凯龙家居集团股份有限公司（以下简称"公司"） 审计委员会、第五届董事会第八次会议审议通过《关于续聘公司 2025 年度财务 报告审计机构及内部控制审计机构的议案》，拟续聘容诚会计师事务所为公司 2025 年度财务报告中国境内审计机构及内控审计机构，续聘先机会计师行为公 司2025年度财务报告中国香港审计机构，任期至2025年年度股东大会结束时止， 并将根据行业标准和公司审计工作的实际情况决定其审计费用。该事项尚须提请 股东大会审议批准。现将相关事宜公告如下： （一）机构信息 1. 基本 ...

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：2025-034 根据上海证券交易所 《上市公司行业信息披露指引第五号——零售》以及 《关于做好主板上市公司 2025 年第一季度报告披露工作的重要提醒》的要求， 红星美凯龙家居集团股份有限公司（"公司"）将 2025 年第一季度（"报告期"） 主要经营数据披露如下： 截至 2025 年 3 月 31 日，公司经营 76 家自营商场，247 家不同管理深度的 委管商场，通过战略合作经营 7 家家居商场，此外，公司以特许经营方式授权 29 家特许经营家居建材项目，共包括 390 家家居建材店/产业街。 一、2025 年第一季度商场变动情况 报告期内，公司关闭 1 家自营商场，位于重庆市；委管商场新开 1 家商场， 位于江苏泰州，关闭 11 家商场，位于浙江乐清、河北邯郸、河北秦皇岛、河南 周口、安徽六安、四川绵阳、四川乐山、广东河源、辽宁本溪、江苏淮安、湖南 吉首。 1 红星美凯龙家居集团股份有限公司 2025 年第一季度经营数据公告 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 ...

美凯龙（601828）公告，2025年第一季度营收为16.15亿元，同比下降23.49%；净亏损5.13亿元，去年 同期净亏损3.72亿元。 ...

4月24日，上海林内与红星美凯龙于沪南商场举行2025年度双方战略合作发布会暨春季联合促销月活动 启动仪式。双方宣布将以"林创智美·聚势焕新"为主题，正式开启春季家居消费季。此次战略升级将以 资源融合、科技赋能、服务升级为核心，通过全渠道创新，为消费者提供沉浸式购物体验。 红星美凯龙家居集团执行总裁朱家桂 红星美凯龙家居集团执行总裁朱家桂在致辞中提到，当前家电行业正经历结构性变革，中高端市场呈现 明显增长机遇。面对市场变化，红星美凯龙将家电作为存量时代的核心增长板块之一，并将与上海林内 持续深化战略合作、紧密团结，围绕用户品质生活需求，共同开拓存量房市场增量空间。 上海林内有限公司营业本部本部长姜颖 上海林内有限公司营业本部本部长姜颖表示面对新市场需求和"双碳"背景，林内将继续依靠百年技术积 淀和创新能力，从燃热优势扩展到综合能源优势，为消费者提供兼具性价比与美学的产品。他还强调与 红星美凯龙五年战略合作成果颇丰，未来将继续以信任为基础，在多领域深化合作，共同挖掘存量房焕 新市场。 红星美凯龙家居集团执行总裁朱家桂与上海林内有限公司营业本部本部长姜颖共同签订2025年度战略合 作协议。 红星美凯龙电器事业部总 ...

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的內容概不負責，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倚賴該等內容而引致的任何損失承擔任 何責任。 Red Star Macalline Group Corporation Ltd. 紅星美凱龍家居集團股份有限公司 (2) 本公司擁有人應佔核心純虧為本公司擁有人應佔虧損扣減與日常經營活動無關 的投資性房地產公允價值變動、其他收入、其他損益及其他開支等稅後影響之 結果。 (3) 本公司擁有人應佔核心純虧率是指本公司擁有人應佔核心純虧除以收入的比率。 （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） （上市債務證券代號：5454） 截至2024 年1 2 月3 1 日止年度業績公告 紅星美凱龍家居集團股份有限公司（「本公司」或「紅星美凱龍」）董事（「董事」）會 （「董事會」）欣然宣佈本公司及其附屬公司（「本集團」）截至2024年12月31日止年 度（「報告期」）之合併年度業績，連同2023年12月31日止年度的比較數字。有關 本公告內的財務業績已獲本公司審計委員會（「審計委員 ...