Red Star Macalline Group (HKG:1528) said its board approved a new agreement with Changzhou HFDM to manage one of its malls, according to a Hong Kong bourse filing Tuesday.

Shares gained nearly 6% in afternoon trade Wednesday.

Under the deal, the mall operator subsidiary, Macalline Brand Management, will manage a shopping mall in China's Changzhou with a gross floor area of 40,678 square meters for 800,000 yuan annually.

The agreement will run from July 1, 2025, to March 31, 2028, Red Star said.

Changzhou HFDM is owned by Red Star chief executive Che Jianxing.