According to a report by CICC, Ali Pictures is expected to generate revenue of 5.036 billion yuan and net income of 285 million yuan in the fiscal year 2024, an increase of 43.9% and a turnaround from loss to profit compared to the previous year, respectively. The Non-GAAP calculation of EBITDA is 504 million yuan, an increase of 60.9% year-on-year, and the Non-GAAP net profit is 479 million yuan, an increase of 112.8% year-on-year, meeting market expectations for performance.

Looking forward to 2024, Ali Pictures has a rich and diverse film reserve, and attention should be paid to the progress of key films in the summer season. This year, the company's main production and distribution film 'Hi, Mom' won the Spring Festival box office champion. The reserve of subsequent films includes 'Fengshen Part 2' (main production and publicity), 'Shining Stars at Dusk' (joint production with self-promotion), 'Customs Frontline' (joint production and publicity), and so on. According to the company's official WeChat account, the company has invested in more than 50 planned projects and has more than 30 copyright and development projects in its reserves. Therefore, it is recommended to continue to pay attention to the company's coverage progress and the box office performance of related projects for key films. The bank maintains its 'outperform the industry' rating for Ali Pictures.