Red Star Macalline major shareholder's equity decreases due to reorganization

Red Star Macalline Group Corp Ltd. announced a change in equity interests of its major shareholder, Red Star Macalline Holding Group Co., Ltd., as part of a reorganization plan. The shareholder's total equity decreased from 23.51% to 19.95%. This change reflects a reduction in directly held shares.

The decrease is primarily due to the transfer of shares to creditors and a specialized account for asset disposal, as per the effectiveness of Red Star Macalline Holding Group's reorganization plan. This transfer follows a court-approved plan to distribute shares directly to ordinary creditors as debt repayment.

The company clarified that this equity change will not alter the controlling shareholder or actual controller, nor will it impact the company's governance structure or ongoing operations. An additional 3,757,390 shares are pending transfer.