# C&D Inc

The Empty Showroom: Red Star Macalline’s $3.3 Billion Loss Signals Deeper Property Contagion

China's leading home furnishing retailer, Red Star Macalline, reported a massive 23.7 billion RMB loss for 2025, driven by property revaluations and a shrinking retail footprint. The crisis has triggered the first-ever annual loss for its parent company, C&D Inc., and prompted major investors like Alibaba to divest, highlighting the systemic risks lingering in the wake of China's real estate downturn.