Red Star Macalline Group Corporation Ltd. (Stock Code: 1528) released its unaudited financial results for the nine months ended 30 September 2025. According to the announcement, revenue reached RMB4.97 billion, compared with RMB6.11 billion for the same period in 2024. Cost of sales stood at RMB1.89 billion, while taxes and surcharges were approximately RMB308 million.

Net profit attributable to owners of the Company was reported at RMB-3.14 billion, compared with RMB-1.89 billion for the same period in 2024. The Company attributed key factors in the performance to weaker tenant demand in the home furnishing retail market, increased tenant incentives, and a decrease in the number and progress of Managed Shopping Malls and other projects. In addition, fair value losses on investment properties increased year-on-year, recorded at RMB3.33 billion for the period.

Net cash flow from operating activities turned positive at around RMB643 million, compared with an outflow of RMB531 million in the same period of 2024. Net cash flow from investing activities showed an outflow of RMB604 million, and net cash flow from financing activities stood at RMB100 million. By the end of the reporting period, the Group’s total assets reached RMB113.39 billion, with total liabilities of RMB67.39 billion. Total equity amounted to RMB46.01 billion.

Management highlighted that as of 30 September 2025, the Group’s total borrowings were approximately RMB30.75 billion. All disclosed financial figures are based on interim management accounts prepared in accordance with the relevant PRC Financial Reporting Standards. Shareholders and potential investors are advised to interpret this information with caution and refer to the published announcement for further details.