shares of chinese furniturestore operator red star macalline group corp jumped in hong kong on monday as investors welcomed a state investors potential stake purchase in the company the stock soared as much as 36 and was last up 24 at 330 hong kong dollars us042 that put red star macallines shares on pace for their best closing since july the rally came after red star macalline said before mondays market open that its controlling shareholder was in discussions about a potential deal for statecontrolled xiamen cd inc to acquire a lessthan30 stake in the company in cash shanghailisted xiamen cd which engages in both logistics services and property development is controlled by the xiamen municipal stateowned assets supervision and administration commission a government agency in charge of the management of state assets in the chinese city of xiamen red star macalline a household name in china that counts alibaba group holding ltd among its shareholders said the potential acquisition is still in the preliminary stage and no definitive share transfer agreement has been signed