The Zhitong Finance App learned that Alibaba Pictures (01060) rose more than 8% in the intraday period. As of press release, it had risen 4.17% to HK$0.5, with a turnover of HK$584.16,700.

According to the news, Alibaba Pictures will hold a board meeting on May 29 to approve the final results. The company previously reported a profit. The profit for the fiscal year ending March is expected to be no less than 260 million yuan, turning a loss into a profit compared to the previous year's loss of 291 million yuan; 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%.