Core Viewpoint - The announcement provides an overview of the operational status of Red Star Macalline Home Group Co., Ltd. as of December 31, 2025, detailing the number of self-operated and managed shopping malls, as well as franchise operations [1][2]. Group 1 - As of December 31, 2025, the company operates 74 self-operated shopping malls and 218 shopping malls under different management depths [1]. - The company has strategically partnered to operate 7 home shopping malls, indicating a collaborative investment approach [1]. - The company has authorized 19 franchise home improvement projects, which include a total of 345 home improvement stores/industrial streets [1][2]. Group 2 - The strategic partnership with Shandong Yinzuo Home Co., Ltd. involves a 46.5% equity stake, making the company one of the largest shareholders [1]. - The announcement clarifies that the operational data provided is unaudited and intended for investors to understand the company's operational overview [2].