[ET Net News Agency, 19 October 2021] Alibaba Pictures Group Limited (01060) said it is
expected that the net loss attributable to owners of the company for the six months ended
30 September 2021 will decrease substantially by not less than 60% from approximately
RMB162 million as recorded for the six months ended 30 September 2020.
The decrease was primarily attributable to the effective control of the COVID-19
pandemic in the mainland China, which facilitated the strong recovery in box office of
domestic film market during the year. Coupled with the significant achievements delivered
during the post-pandemic recovery from the group's accumulated investment in the fields of
content, technology as well as IP merchandising and commercialization, it is expected that
the group's overall revenue will increase by more than 40% as compared with that for the
corresponding period last year, while the gross profit (net of marketing expenses) will
increase by more than 50% as compared with that for the corresponding period last year.
(RC)
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01060 ALI PICTURES
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0.415 -0.010 (-2.353%) Others
19/10/2021 10:14
Ali Pictures (01060) expects decrease in interim loss
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