Red Star Macalline (01528)'s self-operated shopping mall revenue for the first half of the year was about 2.97 billion yuan, down 15.3% year-on-year

According to Zhitong Finance App, Red Star Macalline (01528) announced that as of June 30, 2024, the company had operated 85 self-operated shopping malls, 267 managed shopping malls with different management depths, and operated 7 home furnishing shopping malls through strategic cooperation. In addition, the company authorized 49 franchises to franchise home building materials projects, including a total of 439 home building materials stores/industrial streets.

During the reporting period, the company opened 1 new self-operated shopping mall, located in Chengdu, Sichuan, and closed 3 stores, located in Xiamen, Fujian, Tangshan, and Yangquan, Shanxi; no newly managed shopping malls, closed 5 shopping malls, located in Laiyang, Sichuan, Rongcheng, Shandong, Fuzhou, Fujian, and Changge, Henan. 3 shopping malls were converted from management to franchise management, located in Changde, Hubei, and Huangshi, Hubei.

As of June 30, 2024, the company has 17 self-operated shopping malls under preparation (of which 14 are owned and 3 leased), with a planned construction area of about 2.79 million square meters (based on the final construction area approved by the government license documents); of the planned shopping malls, 287 managed and contracted projects have obtained land use warrants/land plots.

The company has opened its own shopping mall and obtained operating revenue of RMB 2.97 billion during the reporting period, a decrease of 15.3% over the same period last year. The gross margin was 71.4%, the same as the same as the same period in 2023.