Summary by Futu AI
On June 25, 2024, Alibaba Pictures announced that its merged entity, Maoyan Entertainment, had signed a framework advertising service agreement with Youku Information, a subsidiary of Alibaba Group. Under the agreement, Maoyan Entertainment will provide advertising services to Youku Information's clients, subject to annual limits. The agreement is valid from June 25, 2024 to March 31, 2027. This is a continuous connected transaction as both Alibaba Group and Youku Information are related parties of the company. Alibaba Group is the ultimate shareholder of Alibaba Investment, which holds about 53.85% of the company's shares. The annual advertising service limits for this transaction are RMB 20,000,000, RMB 24,000,000, and RMB 28,800,000, respectively, and will be calculated based on the company's fiscal year and consolidated financial statements. As the applicable...Show More