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Red Star Macalline Group Corporation Ltd Class H
(1528)
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Rating:48Neutral
Price Target:
HK$1.00
â–¼(-19.35% Downside)
Action:Reiterated
Date: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
Platform mall business model
The company operates a mall platform that monetizes leasing, mall management and value-added services. This landlord/operator model creates recurring rental and fee-based revenue streams tied to physical mall occupancy and merchant relationships, providing durable cashflow potential if occupancy stabilizes.
Negative Factors
Multi-year revenue decline
Revenue has trended down over multiple years, signaling structural demand or asset-monetization headwinds for mall operators. Persistent top-line erosion reduces scale economics, weakens rental leverage, and complicates efforts to restore margins and cash generation sustainably without strategic change.
Read all positive and negative factors
Positive Factors
Negative Factors
Platform mall business model
The company operates a mall platform that monetizes leasing, mall management and value-added services. This landlord/operator model creates recurring rental and fee-based revenue streams tied to physical mall occupancy and merchant relationships, providing durable cashflow potential if occupancy stabilizes.
Read all positive factors
Red Star Macalline Group Corporation Ltd Class H (1528) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$9.69B
Dividend YieldN/A
Average Volume (3M)7.07M
Price to Earnings (P/E)―
Beta (1Y)1.93
Revenue Growth-9.52%
EPS Growth-651.54%
CountryHK
Employees11,553
SectorReal Estate
Sector Strength53
IndustryReal Estate - Services
Share Statistics
EPS (TTM)-5.25
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)0.20
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)N/A
Revenue Forecast (FY)HK$6.00B
Red Star Macalline Group Corporation Ltd Class H Business Overview & Revenue Model
Company Description
Red Star Macalline Group Corporation Ltd. is primarily involved in operating and managing shopping malls focused on home improvement and furnishing across Mainland China. The company's operations are structured into five distinct segments: directl...
How the Company Makes Money
The company primarily makes money by operating home furnishing and building materials shopping malls and monetizing the mall platform through (1) leasing and rental-related income from commercial spaces within its malls (e.g., showroom/retail unit...
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 | 89.13B | 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 | 27.71B | 45.00B | 39.71B | 38.23B | 38.23B | 44.51B |
| Total Liabilities | 63.28B | 63.83B | 67.33B | 69.04B | 71.48B | 77.66B |
| Stockholders Equity | 22.47B | 23.86B | 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
Negative
1.24
Price Trends
1.28
Negative
1.30
Negative
1.31
Negative
Market Momentum
-0.06
Positive
25.31
Positive
17.55
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1528, the sentiment is Negative. The current price of 1.24 is above the 20-day moving average (MA) of 1.17, below the 50-day MA of 1.28, and below the 200-day MA of 1.31, indicating a bearish trend. The MACD of -0.06 indicates Positive momentum. The RSI at 25.31 is Positive, neither overbought nor oversold. The STOCH value of 17.55 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$1.25B | 7.56 | 11.29% | 9.78% | -9.52% | -7.86% | |
66 Neutral | HK$671.19M | 5.88 | 2.72% | 16.21% | -5.00% | -66.14% | |
65 Neutral | $2.17B | 12.19 | 3.79% | 4.94% | 3.15% | 1.96% | |
63 Neutral | HK$1.33B | 5.06 | 6.81% | ― | -0.24% | 6.41% | |
61 Neutral | HK$17.83B | 55.15 | 1.20% | 5.77% | 1.06% | 799.41% | |
60 Neutral | HK$3.96B | 5.82 | ― | 10.24% | ― | ― | |
48 Neutral | HK$9.69B | -0.40 | -69.83% | ― | -9.52% | -651.54% |
* Real Estate Sector Average
HK:1528
Red Star Macalline Group Corporation Ltd Class H
1.06
-0.59
-35.76%
HK:0014
Hysan Development Co
17.36
3.16
22.23%
HK:3990
Midea Real Estate Holding Limited
2.76
-0.85
-23.48%
HK:9909
Powerlong Commercial Management Holdings Limited
2.07
-0.20
-8.81%
HK:6668
E-Star Commercial Management Company Limited
1.23
0.07
6.22%
HK:6989
Excellence Commercial Property & Facilities Management Group Limited
0.55
-0.88
-61.54%
Red Star Macalline Group Corporation Ltd Class H Corporate Events
Red Star Macalline Shareholders Approve All Resolutions at 2025 AGM
Jun 22, 2026
Red Star Macalline Group Corporation Ltd. reported that all resolutions proposed at its 2025 annual general meeting, held in Shanghai on 22 June 2026, were approved by shareholders via poll. The meeting, which complied with PRC company law and the...
Red Star Macalline Tightens Governance with New Audit Committee Rules
Jun 18, 2026
Red Star Macalline Group Corporation Ltd. has formalised detailed working rules for its Board-level Audit Committee, aligning its governance framework with the Company Law of the People’s Republic of China, corporate governance codes and the...
Red Star Macalline Sets New Governance Rules for Remuneration and Evaluation Committee
Jun 18, 2026
Red Star Macalline Group Corporation Ltd. has established detailed working rules for its Remuneration and Evaluation Committee under the board of directors to strengthen governance over pay and performance for directors and senior management. The ...
Red Star Macalline Defines Rules for Board Nomination Committee to Bolster Governance
Jun 18, 2026
Red Star Macalline Group Corporation Ltd. has adopted detailed working rules for its Board-level Nomination Committee to strengthen corporate governance and standardize the selection of directors and senior management. The rules align with Chinese...
Red Star Macalline Sets Up Strategy and Investment Committee to Sharpen Governance
Jun 18, 2026
Red Star Macalline has established a Strategy and Investment Committee under its Board of Directors to guide the company’s long-term development and major investment decisions. The committee is structured with three to seven directors, inclu...
Red Star Macalline Signs Connected Framework Deal for Tianfu New District Project
Jun 18, 2026
Red Star Macalline’s subsidiary Chengdu Tianfu Macalline has signed a framework agreement with CD Construction to provide entrusted construction management and sales services for the Tianfu New District Project from 18 June 2026 to 17 June 2...
Red Star Macalline Sets 2025 AGM to Approve Dividend, Pay and New Borrowing Framework
May 28, 2026
Red Star Macalline Group Corporation Ltd. has convened its 2025 annual general meeting for 22 June 2026 in Shanghai, where shareholders will review the 2025 board work report and consider the profit distribution plan. The agenda also includes appr...
Red Star Macalline Secures Up to RMB6.5 Billion in Connected Loan Facilities
May 26, 2026
Red Star Macalline Group Corporation Ltd. has entered into a loan framework agreement with major shareholder Xiamen CD, under which Xiamen CD will provide a revolving credit facility of up to RMB4 billion, available until May 2028, to support the ...
Red Star Macalline Clarifies Delayed Connected Transaction Agreement and Tightens Controls
May 15, 2026
Red Star Macalline has entered into a supplemental contract management agreement with connected party Xuzhou RSHFP and Shanghai RS Macalline Brand Management, covering management services from 1 January 2026 to 31 August 2027, with fees for the in...
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...
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.