Ali Pictures (ALI PICTURES) released its annual report for the fiscal year ending March 31, 2024 and announced the completion of the acquisition of 100% of the issued share capital of Pony Media Holdings Inc. (Pony Media). The transaction was completed on November 30, 2023. The report stated that Ali CV controlled by Alibaba Group Holding Limited (AGH) and Alibaba Investment together hold approximately 54.26% of the issued shares of Ali Pictures. The company complies with the contractual arrangements of operating companies in China to ensure the control and economic benefits of Ali Pictures while complying with foreign ownership restrictions in certain business areas. Ali Pictures follows corporate governance guidelines, but the roles of the Chairman and CEO are not separated and are both held by...Show More

Ali Pictures (ALI PICTURES) released its annual report for the fiscal year ending March 31, 2024 and announced the completion of the acquisition of 100% of the issued share capital of Pony Media Holdings Inc. (Pony Media). The transaction was completed on November 30, 2023. The report stated that Ali CV controlled by Alibaba Group Holding Limited (AGH) and Alibaba Investment together hold approximately 54.26% of the issued shares of Ali Pictures. The company complies with the contractual arrangements of operating companies in China to ensure the control and economic benefits of Ali Pictures while complying with foreign ownership restrictions in certain business areas. Ali Pictures follows corporate governance guidelines, but the roles of the Chairman and CEO are not separated and are both held by Mr. Fan Luyuan. The net proceeds from the issuance of new shares to Ali CV in 2019 have been fully used for content investment, customer expansion, sales, marketing and general corporate purposes. During the reporting period, there have been no changes to the contractual arrangements due to regulatory limitations. Independent non-executive directors of the company have reviewed and confirmed the fairness and reasonableness of continuing related party transactions. PwC has audited the financial statements up to March 31, 2024 and will be re-appointed at the upcoming annual general meeting. There have been no significant events affecting the operation or finances of the company since the reporting period. As of March 31, 2024, the company's non-current assets in mainland China and other regions were RMB 5,492,860,000 and RMB 456,781,000, respectively. No dividends were proposed for the fiscal year 2024 (none in 2023). As of March 31, 2024, the company's non-controlling interests amounted to RMB 98,484,000 (RMB 40,376,000 in 2023), and no significant non-controlling interests were held by any subsidiary of the company. Approximately 13% of the company's total revenue in the fiscal year 2024 came from one external customer (approximately 18% and 11% from two external customers in 2023).