Red Star Macalline purchased the same series of shopping mall assets with 1.2 billion yuan and its income in the first half of the year was 4.281 billion yuan.

On October, 26, Red Star Macalline published multiple correlation transactions and purchased the same series of shopping mall assets with 1.2 billion yuan.The announcement showed that Red Star Macalline purchased 64 project companies which held several store companies from Shanghai Enterprise Development. Meanwhile, valuable consideration didn't exceed 211 million yuan, together with taking the upper limit of debt of 270 million yuan. It purchased assets of Suzhou Kairun Home Furniture Shopping Mall 60% rights and interests and planned to establish and operate a home decoration and furniture store. Its valuable consideration didn't exceed 282 million yuan. Of which, it purchased the rights and interests of 50% of the Chengdu Jinniu Shopping Mall. Its valuable consideration didn't exceed 495 million yuan.

Shanghai Enterprise Development invested by the company's controlling shareholders-Red Star Macalline which holds the rights and interests of 70.15%. This kind of purchasing had a positive effect on Red Star Macalline to enlarge furniture sales.

According to the semiyearly report published by Red Star Macalline revealed that the company newly opened seven entrusted management shopping malls and newly increased operating area was 279,700 square meters. Till June 30, the company operated 112 entrusted management shopping malls in total. Its total operating area was 6.8536 million yuan square meters and average occupancy rate reached 94%. The company had signed 409 entrusted management shopping malls in contract preparation. Of which, there were 215 projects which had obtained plots.

In achievement, Red Star Macalline realized comprehensive income 4.281 billion yuan in the first half of the year. Year-on-year growth was 17.4%; Gross profit rate increases to 74.2%; during the period, core net profit was 1.194 billion yuan; Year-on-year growth of 31.1%

2007; Red Star Macalline entered into the Chengdu market with Red Star Macalline Home Furniture Shopping Mall which operated the best. In the following years, it successively arranged three projects in Chengdu, together with Greenland Red Star International Plaza which cooperated with Greenland. It was four in total.

In the first half of the year, Red Star Macalline developed Shouxin Red Star International Plaza with Sichuan Shouxin Industry Co., Ltd. jointly. The projects overall positioning was "Wuhou New Center, 600,000 Square Meters, Core Business Groups of Double Malls and Three Centers", including the OGLORIA MALL, Aegean Shopping Mall and Alley Business Street.

Red Star Macalline once showed to observers that it would continue to develop Double Mall project in the future. The requirement of Double Mall land was above 200 mu. At present, the company was looking the land in Chengdu.

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