Alibaba Pictures Group Limited (HK:1060) has released an update.
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Alibaba Pictures Group Limited, under its controlling shareholder Alibaba Holding, has revised the annual caps for their ongoing connected transactions through the 2024 EBC Framework Agreement to better meet their business needs through 2027. The adjustments are in compliance with the Listing Rules, which dictate that such changes must be reported and reviewed annually, but do not require independent shareholder approval. These transactions are crucial for the allocation of employment benefit costs (EBC) between Alibaba Holding and the company, as they address the transfer of employees and their associated awards within the corporate group.
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