Ali Pictures announced on September 3, 2024 that its indirectly wholly-owned subsidiary, Zhonglian Shengshi, has entered into a framework agreement with Youku Information, a subsidiary of Alibaba Holdings, for commissioned production. This agreement allows Zhonglian Shengshi member companies to enter into specific agreements with Youku member companies within the annual limit to commission production services. This transaction constitutes a continuous connected transaction and is subject to the reporting, annual review, and announcement requirements under Chapter 14A of the listing rules, but is exempt from independent shareholder approval. The agreement is valid until March 31, 2026 and includes services such as filming, AI model creation and training, video editing, etc. The service fees will be calculated based on the production costs plus a markup rate of 5% to 25%. Alibaba Holdings is the ultimate controlling shareholder of Ali Pictures, holding approximately 53.85% of the shares, therefore Youku Information is considered a related party. The Board of Directors believes that this agreement will help enhance Ali Pictures' market competitiveness in the content production field.

Ali Pictures announced on September 3, 2024 that its indirectly wholly-owned subsidiary, Zhonglian Shengshi, has entered into a framework agreement with Youku Information, a subsidiary of Alibaba Holdings, for commissioned production. This agreement allows Zhonglian Shengshi member companies to enter into specific agreements with Youku member companies within the annual limit to commission production services. This transaction constitutes a continuous connected transaction and is subject to the reporting, annual review, and announcement requirements under Chapter 14A of the listing rules, but is exempt from independent shareholder approval. The agreement is valid until March 31, 2026 and includes services such as filming, AI model creation and training, video editing, etc. The service fees will be calculated based on the production costs plus a markup rate of 5% to 25%. Alibaba Holdings is the ultimate controlling shareholder of Ali Pictures, holding approximately 53.85% of the shares, therefore Youku Information is considered a related party. The Board of Directors believes that this agreement will help enhance Ali Pictures' market competitiveness in the content production field.