来源：环球网 1月23日晚，美凯龙(601828.SH、01528.HK)发布业绩预告，预计2025年度归母净利润亏损。造成亏损的 原因，主要是公司对所持有的投资性房地产项目进行大额公允价值变动损失的调整，涉及金额约126亿 ~215亿元。 美凯龙解释称，受地产行业不景气以及家居建材行业需求下滑的持续影响，家居零售市场需求减弱，公 司持续通过减免租金及管理收入的方式稳商留商，同时积极调整战略与品类布局，以优惠的商业条件吸 引优质业态及品牌入驻，并在拓展初期给与租金及管理费优惠，使得租赁及管理收入受到较为明显的影 响，租金水平较以往年度显著下降。由于市场对未来租金预期发生了转变，租金价格短期内得到修复的 估计已需要进行调整，因此公司对未来租金预期的收益情况进行了相应调整，致使投资性房地产价值显 著下降。 过去一年，美凯龙按照"3+星生态"战略指引，实施升级高端电器战略、推进M+高端设计中心等举措。 业内人士认为，美凯龙此举意在释放投资性房地产估值压力，未来利润表中将减少同类公允价值变动损 失，有助于投资者更清晰地看到主营业务盈利能力的真实改善和公司的核心价值。 此举恰恰体现了新管理层应对周期、夯实资产质量的决心 ...

Core Viewpoint - Red Star Macalline has upgraded its service steward platform in five home furnishing stores in Beijing, focusing on transparency, public accountability, and supervision to enhance consumer satisfaction and improve product and service quality [1][2][6]. Group 1: Service Upgrade and Consumer Transparency - The service steward platform publicly displays consumer complaints, brand satisfaction, and feedback, providing objective references for consumers and encouraging brands to improve their offerings [1][4]. - The customer service team emphasizes that the public disclosure of customer relations and brand satisfaction is based on a multi-dimensional design, ensuring real-time reflection of actual conditions for informed decision-making [2][6]. - The initiative aims to transform consumer complaints into opportunities for improvement, fostering a culture of accountability and quality enhancement within the home furnishing industry [3][6]. Group 2: Consumer Complaint Statistics - In 2024, the furniture complaint volume reached 33,822 cases, marking a year-on-year increase of 20.95%. In the first quarter of this year, complaints in the furniture category surged by 41.55% to 9,317 cases [4]. Group 3: Industry Impact and Future Directions - Red Star Macalline is recognized as a leader in service upgrades within the home furnishing market, implementing measures such as advance compensation and a five-fold price match guarantee to enhance consumer experience [6]. - The company leverages digital tools to convert consumer feedback into quantifiable management metrics, promoting a healthy ecosystem in the home furnishing industry and providing a model for other sectors [6].