Maoye International (00848) announced that on December 8, 2025, Maoye Urban Commercial Management (an indirect wholly-owned subsidiary of the company) sold an additional 7.812 million shares of Maoye Commercial (600828) on the open market. The total consideration amounted to approximately RMB 45.26 million (excluding transaction costs), with an average selling price of about RMB 5.79 per share. Following the disposal, the group's total stake in Maoye Commercial decreased from 85% to 84.55%.