RS Macalline (01528.HK) announced that the application for reorganization by the second largest shareholder, SingHoldings, has been accepted by the court. In addition, the company recently noticed media reports such as "RS Macalline Bankruptcy", which confused the names of the company and SingHoldings. The company clarified that its largest shareholder is Xiamen Jianfa (600153.SH). Xiamen Jianfa and its concerted parties collectively hold 29.95% of its total share capital. Xiamen Jianfa has taken over the management team and operation of the company from various dimensions of equity structure and management level. The reorganization of SingHoldings only involves SingHoldings' legal entities and has no direct impact on the company.
Some individual stores of the company have been closed recently due to strategic adjustment or contract expiration, but it does not affect the overall management status. SingHoldings has no situation of operating or non-operating funds occupation in the company.