The Zhitong Finance App learned that Alibaba Pictures (01060) is now up more than 5%. As of press release, it has risen 5.32% to HK$0.495, with a turnover of HK$13.263,400.

According to the news, Alibaba Pictures is making a profit. The profit for the fiscal year ending March is expected to be no less than 260 million yuan. Compared with the previous year's loss of 291 million yuan, it has turned a loss into a profit; overall revenue is expected to increase by more than 40%.

According to the announcement, turning losses into profits is mainly due to a strong recovery in the offline entertainment business, a sharp increase in the total box office of movies nationwide; and a sharp increase in the number of high-quality films produced and distributed by the Group. If the barley acquisition happens on April 1, 2022 or 2023, the Group's adjusted EBITA will not be less than 1 billion yuan during the year, an increase of more than 700%.