红星美凯龙(01528)公布，公司于近日收到淘宝控股及新零售基金出具的《股份减持情况告知函》，于 2025年12月17日至12月22日，淘宝控股及新零售基金通过集中竞价合计减持公司约2209.65万股H股股 份，占公司当前总股本的0.51%。其中，新零售基金通过集中竞价减持公司6,180,081股H股股份，占公 司当前总股本的0.14%;淘宝控股通过集中竞价减持公司15,916,400股H股股份，占公司当前总股本的 0.37%。本次权益变动后，公司持股5%以上股东杭州灏月及其一致行动人合计持有公司股份数量由 277,434,306股减少至255,337,825股，持股比例由6.37%减少至5.86%。 ...

Core Viewpoint - Red Star Macalline (01528) announced a share reduction by Taobao Holdings and New Retail Fund, indicating a strategic shift in shareholder composition [1] Group 1: Share Reduction Details - Taobao Holdings and New Retail Fund reduced their holdings by approximately 22,096,500 H shares from December 17 to December 22, 2025, representing 0.51% of the company's total share capital [1] - New Retail Fund sold 6,180,081 H shares, accounting for 0.14% of the total share capital, while Taobao Holdings sold 15,916,400 H shares, representing 0.37% of the total share capital [1] Group 2: Impact on Major Shareholders - Following the share reduction, the combined holdings of major shareholder Hangzhou Haoyue and its concert parties decreased from 277,434,306 shares to 255,337,825 shares, reducing their ownership percentage from 6.37% to 5.86% [1]

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 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《紅 星 美 凱 龍 家 居 集 團 股 份 有限公司關於持股5%以上股東及其一致行動人權益變動觸及1%刻度的 提 示 性 公 告》，僅 供 參 閱。 承董事會命 紅星美凱龍家居集團股份有限公司 李玉鵬 董 ...

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 公告编号：2025-098 红星美凯龙家居集团股份有限公司 关于持股 5%以上股东及其一致行动人权益变动 触及 1%刻度的提示性公告 持股 5%以上的股东杭州灏月企业管理有限公司及其一致行动人 Taobao China Holding Limited、New Retail Strategic Opportunities Investments 4 Limited 保证向本公司提供的信息真实、准确、完整，没有虚假记载、误导性陈述或重大遗 漏。 本公司董事会及全体董事保证公告内容与信息披露义务人提供的信息一致。 重要内容提示： | 权益变动方向 | 比例增加□比例减少 | | --- | --- | | 权益变动前合计比例 | 6.37% | | 权益变动后合计比例 | 5.86% | | 本次变动是否违反已作出的承 | 是□否 | | 诺、意向、计划 | | | 是否触发强制要约收购义务 | 是□否 | 一、 信息披露义务人及其一致行动人的基本信息 1.身份类别 | | □控股股东/实际控制人及其一致行动人 | | --- | -- ...

Core Insights - Chengdu Bay Yue City, a new commercial project by Meikailong and Jianfa Group, officially opened on December 20, marking a significant collaboration and a new attempt at integrating home and lifestyle commerce [1][11] - The project aims to transform the commercial landscape of Tianfu New Area and Chengdu by introducing a variety of high-frequency consumption formats, enhancing the shopping experience and driving business model upgrades [1][9] Group 1: Project Overview - Bay Yue City has a total construction area of approximately 144,000 square meters and was previously known as Meikailong Life Aesthetics Center, which opened in 2021 [1] - The project is designed as a "family gathering place" and includes diverse offerings such as fitness, family entertainment, specialty dining, and outdoor living [3][5] Group 2: Consumer Experience - The mall focuses on family-oriented services, featuring brands like Kid King and Haidilao, creating a one-stop leisure consumption experience for families [5] - Three themed areas have been developed: an energy gathering sports social space, a children's interactive space, and a rooftop garden, all aimed at enhancing family bonding and social interactions [5][10] Group 3: Business Strategy - The project breaks the boundary between home and lifestyle commerce, significantly increasing the proportion of dining, family, and entertainment formats, which is expected to drive foot traffic and cross-selling opportunities [7][10] - Meikailong's strategic shift is based on insights into retail trends, focusing on creating experiential spaces rather than just sales venues, which aligns with the evolving consumer preferences for deeper engagement [9][10] Group 4: Financial Performance - Meikailong reported a net operating cash flow of 643 million yuan for the first three quarters of 2025, with a significant improvement in operating profit from approximately 100 million yuan to 200 million yuan year-on-year [10] - The occupancy rate of self-operated malls increased from 83.0% at the end of 2024 to 84.7% by the end of September 2025, indicating improved asset management and operational efficiency [10] Group 5: Strategic Collaboration - The opening of Bay Yue City signifies a new phase in the strategic partnership between Meikailong and Jianfa Group, moving from limited collaborations to a comprehensive and deep cooperation across the entire mall [11][12] - Jianfa Group's management expertise is expected to enhance the operational success of the project, while Meikailong benefits from revitalizing its existing assets and gaining professional operational insights [12][13]

Core Insights - Chengdu Bay Yue City, a collaboration between Meikailong and Jianfa Group, officially opened on December 20, marking a significant step in commercial cooperation and urban renewal in Chengdu by 2025 [1][10] - The project aims to integrate home and lifestyle commerce, enhancing consumer shopping experiences through a diverse range of high-frequency consumption formats [1][7] Group 1: Project Overview - Bay Yue City has a total construction area of approximately 144,000 square meters and was previously known as Meikailong Lifestyle Aesthetics Center, which opened in 2021 [1] - The project introduces high-frequency consumption formats such as fitness, family entertainment, and specialty dining, moving beyond traditional home goods [3][5] Group 2: Consumer Experience - The mall is designed as a "family gathering place," featuring various themes such as a sports social space, a children's interactive area, and a rooftop garden, creating a "third space" for families and young people [5][9] - Key brands include COLNAGO, PARDUS, and CAMEL, catering to urban families' health and lifestyle preferences [5] Group 3: Business Strategy - The project breaks the boundary between home and lifestyle commerce, significantly increasing the proportion of dining, family, and entertainment formats to drive foot traffic and enhance core home business [7] - Meikailong's strategic shift is informed by retail trends, focusing on experiential shopping rather than mere product sales, aiming to create a lifestyle proposal space [9] Group 4: Financial Performance - Meikailong reported a net operating cash flow of 643 million yuan for the first three quarters of 2025, with a significant improvement in operating profit from 100 million yuan to 200 million yuan year-on-year [9] - The occupancy rate of self-operated malls increased from 83.0% at the end of 2024 to 84.7% by the end of September 2025, indicating improved asset management [9] Group 5: Strategic Collaboration - The opening of Bay Yue City signifies a new phase in the strategic integration between Meikailong and Jianfa Group, with a comprehensive collaboration on the entire mall rather than isolated projects [10][12] - Jianfa Group's commercial management expertise is expected to enhance operational efficiency, while Meikailong benefits from revitalizing its existing assets [12]

Group 1 - Chengdu Bay Yue City officially reopened on December 20, 2025, with a total commercial space of 144,000 square meters, positioned as a "vibrant family gathering place" for the southern city [1][3] - The project marks the first deep collaboration between Red Star Macalline and Jianfa Business Management, representing a new lifestyle and urban commercial update [3][5] - The opening ceremony was attended by notable figures including officials from the Sichuan Tianfu New District Headquarters Business Bureau and executives from Red Star Macalline and Jianfa Business Management [5] Group 2 - The mall focuses on "interests," featuring popular categories such as fitness, sports, and outdoor activities, with brands like COLNAGO, PARDUS, and CAMEL, catering to urban families' pursuit of health and nature [9] - A variety of family-oriented brands such as Kid King, Baby King, and Anta Kids are present, along with diverse dining options including Haidilao and Luckin Coffee, enhancing the family lifestyle experience [11] - Chengdu Bay Yue City emphasizes "family growth companionship" with three main themed areas: an immersive family sports social space, a parent-child interactive leisure area, and a relaxing rooftop garden [12] Group 3 - During the opening period, the mall will offer significant discounts and promotions, including subsidies, free gifts, and special deals to enhance consumer satisfaction [14]

Group 1 - Alibaba Group Holding Limited reduced its stake in Red Star Macalline (01528) by 8.6442 million shares at a price of HKD 1.283 per share, totaling approximately HKD 11.0905 million [1] - After the reduction, Alibaba's remaining shareholding is approximately 33.7162 million shares, representing a holding percentage of 4.55% [1]

Market Overview - A-shares experienced a rebound this week, with the Shanghai Composite Index and Shanghai 50 showing slight gains, while the Shenzhen Component, Sci-Tech Innovation 50, and Northern Exchange 50 showed slight declines. Weekly trading volume decreased to 8.8 trillion yuan [1] Institutional Insights - Leverage funds had a net sell of over 1.1 billion yuan this week, with the basic chemical industry seeing a net sell of over 1.9 billion yuan. Other sectors like non-ferrous metals and food & beverage also faced net sells exceeding 1 billion yuan. Conversely, the electronics sector gained over 2.8 billion yuan in net buying, while the defense and military industry saw over 1.8 billion yuan in net buying [2] - The retail sector has seen continuous net inflows from major funds for five consecutive days, totaling over 22.5 billion yuan for the week. The non-ferrous metals sector also received over 20.1 billion yuan in net inflows, with several other industries exceeding 10 billion yuan in net inflows. Only the electronics and power equipment sectors experienced net outflows [2] Sector Performance - The retail sector index surged nearly 12% this week, reaching a new high for the year. Notable stocks like Baida Group and Li Qun Co. saw multiple trading halts due to price increases. Other sectors such as duty-free, internet celebrity economy, and new retail also showed strong performance [4] - The food and beverage industry is benefiting from the upcoming holiday sales season, with the snack food segment being particularly active. The sector index has risen for six consecutive days, with several companies experiencing significant price increases [6] Consumer Trends - According to iMedia Consulting, snack foods account for 49.23% of the types of goods consumers purchase for the New Year, making it the second-largest category. 40.23% of consumers prefer snack foods as gifts for the Spring Festival. The current per capita consumption of snack foods in China is 954.4 yuan, which is about one-fourth of that in the U.S. and half of that in Japan, indicating significant room for growth [7]

Group 1 - The company has revised its articles of association to reflect the cancellation of repurchased shares, which will lead to a reduction in registered capital [1][18][20] - The board of directors approved the revision during a meeting held on December 19, 2025, and the changes will be submitted for shareholder approval [1][27] - The specific amendments to the articles of association will be subject to the approval of the market supervision administration [1] Group 2 - The company plans to provide financial assistance to its mall management partners, with a total amount not exceeding RMB 10 million in 2026 [5][6] - The financial assistance will have an interest rate not exceeding four times the one-year loan market quotation rate at the time of contract signing [5] - The board has approved this financial assistance plan, which will also require shareholder approval [6][25] Group 3 - The financial assistance will be provided to partners managing operational malls, and the recipients will undergo strict qualification assessments [7][9] - The company has a current financial assistance balance of RMB 92.44 million to all operational mall partners as of November 30, 2025 [9] - The company has established internal controls for providing financial assistance, including approval processes and responsibilities [10][11] Group 4 - The cancellation of repurchased shares will reduce the total share capital from 4,354,732,673 shares to 4,353,687,873 shares [21] - This decision is aimed at enhancing investor confidence and will not affect the company's operational capabilities or stock distribution [22] - The board's decision to cancel shares will be submitted for shareholder approval [23] Group 5 - The company plans to engage in related transactions with affiliated financial institutions, including Xiamen International Bank and Xiamen Jianfa Leasing [35][36] - These transactions are expected to improve the company's liquidity and operational efficiency without compromising its independence [43][44] - The board has approved the proposal for these transactions, which will also require shareholder approval [37][45]