Alibaba Pictures Group Limited (HK:1060) has released an update.
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Alibaba Pictures Group Limited reported a 17% increase in revenue to RMB 3,050 million for the first half of 2024, despite facing challenges in the slowing global film industry. The company’s adjusted EBITA rose by 39% to RMB 642 million, driven by its strategic focus on content and technology. Meanwhile, the live entertainment market showed a positive trend, contributing to the group’s overall growth amidst a complex market environment.
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