车建兴，解除留置

Core Viewpoint - The article discusses the recent developments at Red Star Macalline, including the return of founder Che Jianxing after the lifting of his detention, a wave of executive departures, and the impact of Xiamen Jianfa's acquisition on the company's management and performance [2][4][7]. Group 1: Executive Changes - Che Jianxing, the founder of Red Star Macalline, has had his detention lifted by the Yunnan Provincial Supervisory Committee, allowing him to return to the public eye [2][4]. - A significant turnover in the executive team has been noted, with four high-level departures in September alone, including the resignation of the board secretary and vice president Qiu Zhe due to personal career planning [3][5]. - The departures of executives, including former Alibaba executives, have raised speculation about the strategic relationship between Alibaba Group and Red Star Macalline [5]. Group 2: Ownership Changes - In June 2023, Xiamen Jianfa, a state-owned enterprise, acquired a 29.95% stake in Red Star Macalline for approximately 6.286 billion yuan, becoming the controlling shareholder [7][8]. - Following this acquisition, Che Jianxing exited the role of actual controller, with Xiamen Jianfa and its affiliates becoming the largest shareholders [8]. - The management team has undergone significant changes, with new appointments from the Jianfa Group, including Li Yupeng as chairman and Shi Yaofeng as general manager [8]. Group 3: Financial Performance - Red Star Macalline has reported continuous financial losses, with net losses of 2.216 billion yuan in 2023, 2.983 billion yuan in 2024, and 1.9 billion yuan in the first half of 2025, marking the lowest net profit for the company since its listing [11]. - The decline in performance is attributed to store closures and rental discounts, alongside a significant loss of 2.1 billion yuan from changes in the fair value of investment properties [11]. - As of June 30, 2025, the company faces substantial short-term debt pressures, with a total of 15.47 billion yuan in short-term loans and 5 billion yuan in interest-bearing debt due [11].