Alibaba Pictures Group Limited (HK:1060) has released an update.
Alibaba Pictures Group Limited has announced a revision to the annual cap for its previously fully exempt continuing connected transactions under the Marketing and Promotion Services Framework Agreement due to a predicted rise in demand for services following a new collaboration between Damai and Ant Group. The adjustment is a response to expanded marketing and promotion services provided by Damai and will affect the financial year ending March 31, 2025. As a result, the transactions will now require reporting and announcement, but will remain exempt from independent shareholder approval.
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