Core Viewpoint - Red Star Macalline (01528) announced that its major shareholder, Hangzhou Haoyue Enterprise Management Co., Ltd., has reduced its stake in the company by a total of 14.2976 million A-shares through both centralized bidding and block trading methods [1] Summary by Category Shareholder Activity - Hangzhou Haoyue reduced its holdings by 3.5716 million shares through centralized bidding, accounting for 0.08% of the company's total share capital [1] - Additionally, 10.726 million shares were sold through block trading, representing 0.25% of the total share capital [1] - Following this reduction, Hangzhou Haoyue and its concerted parties now hold a total of 391 million shares, down from 405 million shares, decreasing their ownership percentage from 9.31% to 8.98% [1]

Core Viewpoint - Red Star Macalline (601828) announced that its major shareholder, Hangzhou Haoyue Enterprise Management Co., Ltd., has reduced its stake in the company by a total of 14.2976 million A-shares through various trading methods, impacting the overall shareholding structure of the company [1] Summary by Category Shareholding Changes - Hangzhou Haoyue reduced its holdings by 14.2976 million A-shares, with 3.5716 million shares sold through centralized bidding, accounting for 0.08% of the total share capital [1] - An additional 10.726 million shares were sold via block trading, representing 0.25% of the total share capital [1] - Following this reduction, Hangzhou Haoyue and its concerted parties now hold 391 million shares, down from 405 million shares, decreasing their ownership percentage from 9.31% to 8.98% [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 董事長 中國上海，2025年11月05日 於本公告日期，本公司的執行董事為李玉鵬、施姚峰及楊映武；非執行董事為葉衍榴、鄒少榮、車建興及徐國峰； 獨立非執行董事為薛偉、黃建忠、陳善昂、黃志偉及蔡慶輝；及職工董事為鄭建傑。 红星美凯龙家居集团股份有限公司 证券代码：601828 证 ...

Group 1 - The core point of the article is that Meikailong (601828.SH) has received a notice from Hangzhou Haoyue regarding a reduction in shareholding, with a total of 14.2976 million A-shares being sold [1] - The reduction was executed through two methods: 3.5716 million shares were sold via centralized bidding, accounting for 0.08% of the company's total share capital [1] - The remaining 10.726 million shares were sold through block trading, representing 0.25% of the company's total share capital [1] - Following this equity change, the shareholding percentage of Hangzhou Haoyue and its concerted parties decreased from 9.31% to 8.98%, marking a change that touches the 1% integer multiple [1]

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：2025-083 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 | 9.31% | | 权益变动后合计比例 | 8.98% | | 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 2.信息披露义务人信息 | 信息披露义务人名称 | 投资者身份 | 统 ...

Core Viewpoint - Meikailong (601828.SH) has received a notice from Hangzhou Haoyue regarding the reduction of its shareholding, indicating a significant change in ownership structure [1] Summary by Category Shareholding Changes - Hangzhou Haoyue has reduced its stake in Meikailong by a total of 14.2976 million A-shares through both centralized bidding and block trading [1] - The reduction includes 3.5716 million shares sold via centralized bidding, accounting for 0.08% of the company's total share capital [1] - Additionally, 10.726 million shares were sold through block trading, representing 0.25% of the total share capital [1] - Following this transaction, the shareholding percentage of Hangzhou Haoyue and its concerted parties decreased from 9.31% to 8.98%, marking a change that touches upon a 1% integer multiple [1]

Group 1 - The core point of the article is that the shareholding of major shareholders in Meikailong has changed, with a decrease in their combined stake from 9.31% to 8.98% [1] Group 2 - The shareholders involved in this change are Hangzhou Haoyue Enterprise Management Co., Ltd. and its concerted actions Taobao China Holding Limited and New Retail Strategic Opportunities Investments 4 Limited [1] - The change in equity triggered a threshold of 1% [1]

股份發行人及根據《上市規則》第十九B章上市的香港預託證券發行人的證券變動月報表 截至月份: 2025年10月31日 狀態: 新提交 | 1. 股份分類 | 普通股 | 股份類別 | H | | 於香港聯交所上市 (註1) | | 是 | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 證券代號 (如上市) | 01528 | 說明 | H 股 | | | | | | | | | | 法定/註冊股份數目 | | | 面值 | | | 法定/註冊股本 | | | 上月底結存 | | | 741,285,634 | RMB | | 1 | RMB | | 741,285,634 | | 增加 / 減少 (-) | | | 0 | | | | RMB | | 0 | | 本月底結存 | | | 741,285,634 | RMB | | 1 | RMB | | 741,285,634 | | 2. 股份分類 | 普通股 | 股份類別 | A | | | 於香港聯交所上市 (註1) | | 否 | | | --- | --- | - ...

Core Viewpoint - Meikailong reported a significant net loss of 3.143 billion yuan in the first three quarters of 2025, attributed to the downturn in the real estate market and weakened demand in the home retail sector, despite positive cash flow and improved gross margins [1][2] Financial Performance - In the first three quarters of 2025, Meikailong achieved operating revenue of 4.969 billion yuan and a net loss of 3.143 billion yuan [1] - The company's operating cash flow was 643 million yuan, marking two consecutive quarters of positive cash flow [1][2] - Financial expenses decreased by 187 million yuan year-on-year, while credit impairment losses and asset impairment losses also saw reductions [2] - By the end of September, Meikailong's cash reserves reached 3.744 billion yuan, with short-term borrowings and current liabilities down by 3.277 billion yuan compared to the end of the previous year [2] Business Strategy and Transformation - Meikailong has initiated a transformation to become a comprehensive subsidy platform covering multiple categories, including home appliances, 3C products, smart home, and building materials [3] - The company has implemented a "3+Star Ecosystem" strategy, focusing on home-related sectors to create new growth opportunities [3] - The overall occupancy rate of Meikailong's self-operated malls reached 84.72% by the end of September, reflecting improvements in operational efficiency [4] Operational Improvements - The company has successfully reduced sales and management expenses, with sales expenses down by 18.05% and management expenses down by 19.92% year-on-year [2] - Meikailong's business segments, including high-end appliances and home design services, have shown significant growth, with high-end appliances becoming one of the fastest-growing segments [3][4] - The company has expanded its operational footprint in the automotive sector, covering 44 cities nationwide [4]

Core Insights - The company reported a significant net loss of 3.143 billion yuan in the first three quarters of 2025, primarily due to short-term market fluctuations and value adjustments, but this does not affect cash flow and operational capabilities [1][2] - Despite the overall industry downturn, the company's main business has started to stabilize, with positive operating cash flow for two consecutive quarters and a substantial increase in gross profit margin [1][3] Financial Performance - The company's operating revenue for the first three quarters was 4.969 billion yuan, with a net loss of 3.143 billion yuan [1] - The net cash flow from operations was 643 million yuan, marking two consecutive quarters of positive cash flow [2] - The company experienced a fair value loss of approximately 3.33 billion yuan from investment properties and total impairment losses of about 170 million yuan [2] Cost Management and Efficiency - The company has implemented cost reduction and efficiency improvement measures, resulting in a significant increase in gross profit margin [3] - Sales expenses decreased by 18.05% to 618 million yuan, management expenses decreased by 19.92% to 600 million yuan, and financial expenses decreased by 10.23% to 1.642 billion yuan [3] Business Strategy and Transformation - The company is transitioning from a traditional home furnishing market to a comprehensive subsidy platform covering multiple categories, including home appliances and smart home products [5][6] - The "3+ Star Ecosystem" strategy focuses on expanding into home appliances, home decoration, and other lifestyle sectors, creating new growth opportunities [6] - The company has established a design service network with 73.1 million square meters of M+ design centers and partnerships with over 5,000 designers [6] Market Position and Future Outlook - The overall occupancy rate of the company's self-operated malls increased by 1.7 percentage points to 84.72% by the end of September [7] - The company has built unique operational efficiencies and consumer demand databases, positioning itself well for future recovery as consumer spending rebounds [7]