Alibaba Pictures (01060) rose nearly 5%. As of press release, it rose 4.82% to HK$0.435, with a turnover of HK$18.8058 million.
The Zhitong Finance App learned that Alibaba Pictures (01060) rose nearly 5%. As of press release, it had risen 4.82% to HK$0.435, with a turnover of HK$18.8058 million.
According to the news, Ali Entertainment today announced the “Hong Kong Arts Revitalization Plan”: it will invest no less than HK$5 billion over the next five years in the four major areas of Hong Kong drama, film, performance, and youth talent training. Fan Luyuan, Chairman and CEO of Ali Entertainment, said he hopes to develop in-depth cooperation with the Hong Kong culture and entertainment industry. Alibaba Pictures has also released a number of high-quality Hong Kong films and announced that it will build a second headquarters in Hong Kong.
Furthermore, according to data from Lighthouse Pro Edition, as of March 10, the 2024 market box office (including pre-sale) exceeded 15 billion yuan. Guoxin Securities pointed out that considering the supply cycle of domestic films and Hollywood movies, the Chinese film box office is expected to break through the level of 64.2 billion yuan in 2019 and reach a record high this year. At the same time, thanks to the characteristics of high operating leverage, the broadcasting channel is expected to usher in a period of better profit release.