Red Star Macalline Group Corporation Ltd Class H (HK:1528) has released an update.
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Red Star Macalline Group Corporation Ltd reported a significant downturn in its financial performance for the first half of 2024, with a net loss of RMB 1.42 billion compared to a profit of RMB 113.44 million in the same period last year. Despite an increase in gross profit margin, revenue dropped to RMB 4.22 billion from RMB 5.66 billion, reflecting a challenging period for the company. Operational statistics indicate a slight decrease in the number of shopping malls and a lower average occupancy rate, suggesting a contraction in the company’s operational footprint.
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