Alibaba Pictures (01060) announced that since the 2021 operation service agreement was signed on March 31, 2024...
Zhitong Finance App News, Alibaba Pictures (01060) announced that since the 2021 operating service agreement expired on March 31, 2024, Authorized Bao (an indirect wholly-owned subsidiary of the company) and Tmall Entity (Tmall Network and Tmall Technology) signed a 2024 operation service agreement on April 8, 2024 to renew the 2021 operation service agreement for a period of 3 years from April 8, 2024 to March 31, 2027. According to the 2024 operation service agreement, the Tmall entity has agreed to use it, and Authorized Pool has agreed to provide operation services (subject to the relevant annual limit).
According to the 2024 operating service agreement, the Tmall entity (that is, Tmall Network and Tmall Technology) has agreed to use it, and Authorized Bao has agreed to provide the services necessary for Authorized Bao to co-operate Tmall with Tmall entities in related categories, including (including) developing relevant categories through procurement, management and standardization of products, recruiting new merchants, evaluating merchants and carrying out quality control checks on products, providing customer service and marketing services, and taking measures against any merchant's breach of contract.
According to the announcement, the Group has successively developed IP derivative products over the past few years, and has obtained rich business experience in such products and accumulated related industry resources. Given Tmall's large user base and the Group's expertise in related fields, the company believes that cooperation between Tmall entities and the Group will benefit each other, and that the conclusion of the 2024 Operating Service Agreement will enable the Group to continue to achieve its commercial goals and expand its business potential.