The Alibaba Pictures Group Ltd. on Wednesday released its unaudited 2017 financial results, seeing an overall upward performance.
The company witnessed a 162 percent increase in its revenue of approximately 2.366 billion yuan, among which the internet-based promotion and distribution segment took the largest share of some 1.97 billion yuan, up by 189 percent from the previous year.
The other two large operations are content production and integrated development, gaining 341 million yuan and 54 million yuan, respectively, each increasing from 211 million yuan and 6 million yuan in 2016.
The company’s gross profit stood at around 1.75 billion yuan, almost a tenfold increase year-on-year.
Its selling and marketing expenses reached some 2.09 billion yuan, an annual growth of 93.34 percent, mainly due to the increase of expenditures in its online movie ticketing platform Tao Piao Piao.
The company’s operating loss came in at 901 million yuan, a cut of 603 million yuan from the previous year. The loss attributable to the owners of the company stood at 950 million yuan, mainly coming from more investments in Tao Piao Piao to expand its market share.
Alibaba Pictures claimed that its operating capacity has improved.
The company finalized its acquisitions of Orbgen Technologies Private Ltd. and increased its shares in Tao Piao Piao to 96.71 percent.
The company also carried out over ten investments worth 2.38 billion yuan in 2017, from which gaining 13.2 million yuan in return.
According to its financial report, Alibaba Pictures also displayed its prospects for the future.
The company is slated to upgrade Tao Piao Piao’s services in providing information and strengthen its media capabilities.
Furthermore, the company will enhance its cooperation with Alibaba Group, not only in media and entertainment segment but also in e-commerce platforms and Ant Financial business.
The company witnessed a 162 percent increase in its revenue of approximately 2.366 billion yuan, among which the internet-based promotion and distribution segment took the largest share of some 1.97 billion yuan, up by 189 percent from the previous year.
The other two large operations are content production and integrated development, gaining 341 million yuan and 54 million yuan, respectively, each increasing from 211 million yuan and 6 million yuan in 2016.
The company’s gross profit stood at around 1.75 billion yuan, almost a tenfold increase year-on-year.
Its selling and marketing expenses reached some 2.09 billion yuan, an annual growth of 93.34 percent, mainly due to the increase of expenditures in its online movie ticketing platform Tao Piao Piao.
The company’s operating loss came in at 901 million yuan, a cut of 603 million yuan from the previous year. The loss attributable to the owners of the company stood at 950 million yuan, mainly coming from more investments in Tao Piao Piao to expand its market share.
Alibaba Pictures claimed that its operating capacity has improved.
The company finalized its acquisitions of Orbgen Technologies Private Ltd. and increased its shares in Tao Piao Piao to 96.71 percent.
The company also carried out over ten investments worth 2.38 billion yuan in 2017, from which gaining 13.2 million yuan in return.
According to its financial report, Alibaba Pictures also displayed its prospects for the future.
The company is slated to upgrade Tao Piao Piao’s services in providing information and strengthen its media capabilities.
Furthermore, the company will enhance its cooperation with Alibaba Group, not only in media and entertainment segment but also in e-commerce platforms and Ant Financial business.
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