Red Star Macalline Group Corporation Ltd Class H (HK:1528)
:1528
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Red Star Macalline Group Corporation Ltd Class H
(1528)
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Rating:48Neutral
Price Target:
HK$1.50
▲(20.97% Upside)
Action:ReiteratedDate:04/30/26
The score is primarily held down by weak financial performance—persistent revenue contraction, very large losses, and elevated leverage—despite positive and improving free cash flow. Technicals provide some support from recent upward momentum, but overbought indicators increase near-term risk. Valuation is also a headwind given the negative P/E and no dividend yield provided.
Positive Factors
Cash generation / FCF improvement
Positive and improving TTM operating cash flow and free cash flow indicate the business converts sales into cash despite reported accounting losses. Durable FCF supports ongoing operations, funds working capital and modest capex, and provides a credible path to deleveraging if sustained over several quarters.
Negative Factors
Multi‑year revenue decline
A continuing multi-year revenue decline signals structural pressure on demand, tenant mix or asset monetization. Persistent top-line contraction undermines economies of scale, erodes bargaining power with merchants, and makes sustainable margin recovery and debt reduction harder without a durable reversal in occupancy or new revenue channels.
Read all positive and negative factors
Positive Factors
Negative Factors
Cash generation / FCF improvement
Positive and improving TTM operating cash flow and free cash flow indicate the business converts sales into cash despite reported accounting losses. Durable FCF supports ongoing operations, funds working capital and modest capex, and provides a credible path to deleveraging if sustained over several quarters.
Read all positive factors
Red Star Macalline Group Corporation Ltd Class H (1528) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$11.79B
Dividend YieldN/A
Average Volume (3M)7.07M
Price to Earnings (P/E)―
Beta (1Y)1.99
Revenue Growth-9.52%
EPS Growth-651.54%
CountryHK
Employees11,553
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)0.01
Shares Outstanding741,285,640
10 Day Avg. Volume6,844,986
30 Day Avg. Volume7,065,394
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.21
Price to Sales (P/S)0.75
P/FCF Ratio8.21
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)0.05
Revenue Forecast (FY)HK$8.56B
Red Star Macalline Group Corporation Ltd Class H Business Overview & Revenue Model
Company Description
Red Star Macalline Group Corporation Ltd. operates and manages home improvement and furnishing shopping malls in Mainland China. The company operates through five segments: Owned/Leased Portfolio Shopping Malls; Managed Shopping Malls; Constructio...
How the Company Makes Money
The company primarily makes money by operating home furnishings and home improvement shopping malls and monetizing traffic and space provided to merchants and brands. Key revenue streams typically include (1) rental and related income: charging me...
Red Star Macalline Group Corporation Ltd Class H Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
33
Negative
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.61B | 6.37B | 7.82B | 11.51B | 14.14B | 15.51B |
| Gross Profit | 4.48B | 3.25B | 4.99B | 7.03B | 8.84B | 15.51B |
| EBITDA | -21.91B | -24.68B | -1.55B | 433.16M | 4.47B | 5.79B |
| Net Income | -22.86B | -23.11B | -2.98B | -2.41B | 678.57M | 1.96B |
Balance Sheet | ||||||
| Total Assets | 87.14B | 87.41B | 118.64B | 124.19B | 129.48B | 135.19B |
| Cash, Cash Equivalents and Short-Term Investments | 3.54B | 3.22B | 3.30B | 3.10B | 3.55B | 7.14B |
| Total Debt | 10.97B | 45.00B | 39.71B | 38.23B | 38.23B | 44.51B |
| Total Liabilities | 63.28B | 63.33B | 67.33B | 69.04B | 71.48B | 77.66B |
| Stockholders Equity | 22.47B | 22.53B | 48.20B | 49.62B | 54.45B | 53.98B |
Cash Flow | ||||||
| Free Cash Flow | 1.15B | 581.24M | 146.45M | 2.32B | 3.64B | 2.99B |
| Operating Cash Flow | 1.36B | 841.16M | 216.37M | 2.36B | 3.88B | 5.38B |
| Investing Cash Flow | -554.17M | -639.07M | 631.16M | 701.36M | 687.70M | -126.81M |
| Financing Cash Flow | -1.77B | -516.77M | -242.64M | -3.17B | -8.06B | -5.05B |
Red Star Macalline Group Corporation Ltd Class H Technical Analysis
Positive
1.24
Price Trends
1.33
Negative
1.30
Positive
1.40
Negative
Market Momentum
-0.01
Negative
50.33
Neutral
77.78
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1528, the sentiment is Positive. The current price of 1.24 is below the 20-day moving average (MA) of 1.28, below the 50-day MA of 1.33, and below the 200-day MA of 1.40, indicating a neutral trend. The MACD of -0.01 indicates Negative momentum. The RSI at 50.33 is Neutral, neither overbought nor oversold. The STOCH value of 77.78 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:1528.
Red Star Macalline Group Corporation Ltd Class H Peers Comparison
UnderperformOutperform
Sector (65)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$17.39B | 10.46 | 15.06% | 4.43% | 4.84% | 4.54% | |
79 Outperform | HK$6.56B | 10.17 | 36.16% | 6.94% | 14.12% | 8.98% | |
71 Outperform | HK$14.28B | 15.46 | 11.18% | 2.78% | 6.95% | 28.21% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
62 Neutral | HK$15.57B | 11.52 | 74.40% | ― | 6.46% | -3.32% | |
57 Neutral | HK$20.42B | 30.82 | 1.68% | 4.94% | 9.98% | -68.38% | |
48 Neutral | HK$11.79B | -0.06 | -60.81% | ― | -9.52% | -651.54% |
* Real Estate Sector Average
HK:1528
Red Star Macalline Group Corporation Ltd Class H
1.38
0.03
2.22%
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6.27
-0.32
-4.91%
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0.29
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23.72
-1.21
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94.59%
Red Star Macalline Group Corporation Ltd Class H Corporate Events
Red Star Macalline Swings to Profit in First Quarter of 2026
Apr 27, 2026
Red Star Macalline Group Corporation Ltd. reported unaudited results for the three months ended 31 March 2026, showing revenue of RMB 1.55 billion, slightly down from a year earlier. However, the company swung from a substantial loss to an operati...
Red Star Macalline Trims Mall Network While Maintaining Broad National Footprint in Q1 2026
Apr 27, 2026
Red Star Macalline reported its key operating statistics for the first quarter of 2026, detailing the scale and structure of its nationwide home furnishing mall network. As of 31 March 2026, the group operated 73 portfolio shopping malls, 214 mana...
Red Star Macalline Cancels Repurchased A Shares, Trims Registered Capital
Apr 21, 2026
Red Star Macalline Group Corporation Ltd. has moved to cancel a portion of its previously repurchased A shares, originally acquired under a 2022 buyback program intended to support employee stock ownership or equity incentive plans. The company ha...
Red Star Macalline Expands Connected Contract Management Deal With Xuzhou RSHFP
Apr 16, 2026
Red Star Macalline has approved a supplemental contract management agreement with Xuzhou RSHFP, under which the group will provide contract management services from 1 January 2026 to 31 August 2027 for a commercial property with a gross floor area...
Red Star Macalline Sets Board Meeting to Approve First-Quarter 2026 Results
Apr 15, 2026
Red Star Macalline Group Corporation Ltd., a leading Chinese home improvement and furniture retailer listed in Hong Kong, has announced that its board of directors will convene on 27 April 2026. The meeting will focus on reviewing and approving th...
Red Star Macalline Books Nearly RMB4 Billion in 2025 Asset Impairments
Mar 30, 2026
Red Star Macalline Group Corporation Ltd. has disclosed that it will book substantial asset impairment provisions for the full year 2025 under Chinese accounting standards, mainly covering receivables, contract assets, inventories, fixed assets, l...
Red Star Macalline Reshapes National Mall Portfolio in 2025 Operating Update
Mar 30, 2026
Red Star Macalline Group Corporation Ltd. has disclosed its key operating statistics for 2025, reporting a network of 74 portfolio shopping malls, 218 managed shopping malls and 7 home furnishing malls under strategic cooperation as of 31 December...
Red Star Macalline Swings to Massive 2025 Loss as Mall Network Shrinks but Occupancy Improves
Mar 30, 2026
Red Star Macalline reported a sharp deterioration in 2025 results, with revenue falling to RMB 6.58 billion from RMB 7.82 billion and loss attributable to owners widening dramatically to RMB 24.09 billion, while core net loss also deepened and no ...
Red Star Macalline Sets March 2026 Board Meeting to Approve 2025 Results and Consider Dividend
Mar 18, 2026
Red Star Macalline Group Corporation Ltd. has scheduled a board meeting for 30 March 2026 to review and approve the annual results for the year ended 31 December 2025, along with their planned publication. The board will also consider the recommen...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.