Alibaba Pictures Group Limited (HK:1060) has released an update.
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Alibaba Pictures Group Limited has expanded its entertainment empire with two strategic acquisitions through its subsidiaries, Zhonglian Shengshi and Beijing Alibaba. The company acquired the entire equity interest in Jiali Culture and a 70% stake in Dongyang Meila, each at a purchase price of RMB350,000,000. These acquisitions, significant enough to be disclosed under the Listing Rules, suggest a consolidated move to bolster Alibaba Pictures’ position in the cultural and entertainment sectors.
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