Alibaba Pictures (01060) announced that the Group expects the financial year ending March 31, 2024 (20...
According to Zhitong Finance App, Alibaba Pictures (01060) announced that the Group's net profit attributable to the company's owners for the fiscal year ending March 31, 2024 (fiscal year 2023/2024) will not be less than RMB 260 million, while the net loss attributable to the owners of the company for the fiscal year ended March 31, 2023 (2022/2023) was approximately RMB 291.1 million. The Group's overall revenue for the 2023/2024 fiscal year is expected to increase by more than 40% compared to the 2022/2023 fiscal year. If the barley acquisition happens on April 1, 2022 or 2023, the Group's adjusted EBITA for the 2023/2024 fiscal year will not be less than RMB 1 billion, an increase of more than 700% over the previous year.
According to the announcement, compared to the 2022/2023 fiscal year, the main reasons for the Group's loss to profit include (but are not limited to) the strong recovery of the offline entertainment business in the 2023/2024 fiscal year, and a sharp year-on-year increase in the total number of movies in the country; and the Group's excellent business performance, and the number of high-quality films participating in production and distribution increased significantly year-on-year.