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ALI PICTURES: ANNUAL REPORT 2023/24
Alibaba Pictures Group Subsidiary Sells 70% Stake in Film Studio
Selected announcement | Chow Tai Fook's retail sales in the second quarter fell 20% year-on-year; H World Group disclosed a shareholder return plan involving 2 billion US dollars.
MicroPort NeuroTech's expected net income growth in the middle term is about 124% to 158%; Ali Pictures' subsidiary intends to acquire all of Jiali Culture's equity and 70% of Dongyang Mela's equity.
Breaking up with Feng Xiaogang? Buy 1.05 billion and transfer 0.35 billion of Huayi Brothers' equity in Dongyang Meila for debt relief. | Quick read announcement
Huayi Brothers Media Corporation had already hinted at the transfer of its equity in Dongyang Mela, with Feng Xiaogang's film 'Special Agent' being produced by Ali Pictures and China Film Co., Ltd., while Huayi Brothers Media Corporation was merely an investor; from 2016 to 2020, due to Dongyang Mela's failure to achieve its commitments, Feng Xiaogang compensated Huayi Brothers Media Corporation with over 0.2 billion yuan, and he himself resigned as the manager of Dongyang Mela in November last year.
Ali Pictures (01060.HK) acquired Beijing's real estate and filmmaking business, with a loan of 0.7 billion RMB.
Ali Pictures (01060.HK) announced the acquisition of 70% equity of Jia Li Culture and Dong Yang Meila for a total price of RMB 0.7 billion, which will be paid through offsetting the outstanding loan principal owed by the group to Huayi Brothers Media Corporation (300027.SZ). After completion, the company will hold 100% equity of Jia Li Culture, and will hold eight commercial units and 29 parking spaces in the commercial building of Huayi Brothers’ headquarters located in Chaoyang District, Beijing. Dong Yang Meila is mainly engaged in the production and investment of movies, TV dramas, and web dramas, of which the remaining 30% equity is held by Feng Xiaogang.
Huayi Brothers Media Corporation (300027.SZ) plans to transfer 70% equity of Dongyang Mela to Ali Pictures for CNY 350 million.
On July 23, Glengarry reported that Huayi Brothers Media Corporation (300027.SZ) announced that the company intends to sign an agreement with Ali Pictures, formerly known as Beijing Zhonglian Huameng Culture Media Investment Co., Ltd., for actual operating needs. It is expected to transfer 70% equity of its wholly-owned subsidiary, Zhejiang Dongyang Mela Media Co., Ltd. (hereinafter referred to as "Dongyang Mela"). After this transfer is completed, the company will no longer hold equity in Dongyang Mela, and the specific situation shall be subject to the agreement signed by both parties. The total price of the equity transfer this time is RMB 0.35 billion.
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