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ALI PICTURES (01060) sees 1H loss increasing to RMB400M
21 Oct 2019
(Infocast News) Alibaba Pictures (01060) announced that it is expected that the net loss to be recorded by the group for the six months ended September 30 will range between RMB370 million and RMB400 million, compared with a similar loss of RMB126 million for the corresponding period last year.

The significant increase in loss of the group was primarily due to an impairment provision of RMB105 million made by the group for certain historical equity investment project(s) and a significant decrease in foreign exchange gains of RMB110 million recorded during the period.

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