RS MACALLINE announced that from December 10 to 12, 2025, Taobao Holding and New Retail Fund collectively reduced their holdings by 30.616 million H-shares through centralized bidding, accounting for 0.70% of the total share capital. Following this equity change, the combined stake held by major shareholder Hangzhou Haoyue and its concerted parties decreased from 8.98% to 7.33%, reaching a 1% integer multiple threshold. This adjustment will not result in changes to the controlling shareholder or actual controller and does not require disclosure of an equity change report. Additionally, Hangzhou Haoyue plans to reduce its holdings by no more than 130.641979 million shares (3% of total capital) between December 25, 2025, and March 24, 2026, though no action has been taken yet.