Alibaba Pictures Group Limited (HK:1060) has released an update.
Alibaba Pictures Group Limited has announced a new Marketing and Promotion Cooperation Framework Agreement between its subsidiary, Hangzhou TPP, and Taobao, a subsidiary of Alibaba Holding. The agreement, effective from August 9, 2024, to March 31, 2027, allows both parties to collaborate on promotional services and co-marketing activities, marking a significant continuing connected transaction. This collaboration falls under specific reporting requirements but does not necessitate independent shareholder approval.
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