(Yicai Global) April 1 -- China's leading furniture mall operator Red Star Macalline Group is offering some of its tenants one free month of rent to help them recover from the Covid-19 outbreak, despite its own profits stagnating last year.

The Shanghai-based firm earned CNY4.7 billion (USD663 million) in 2019, it said in its earnings report published today. During that time, it increased the number of malls it runs to 337 in 212 cities.

Shares in the firm [SHA:601828;HKG:1528] were up 1.07 percent at CNY9.41 (USD1.33) when the Shanghai bourse closed for lunch at 11.30 a.m., and 2.43 percent at HKD5.06 (65 US cents) as of 11.42 a.m. 

Editor: James Boynton