Summary by Moomoo AI
On June 25, 2024, Ali Pictures announced that its merged entity Damai and the merged entity Youku Information controlled by Alibaba Holdings had signed an advertising service framework agreement. According to the agreement, Damai will provide advertising services to Youku Information's customers, subject to annual limits. The agreement is valid from June 25, 2024 to March 31, 2027. This transaction constitutes a continuous connected transaction as Alibaba Holdings and Youku Information are both related parties of the Company. Alibaba Holdings is the ultimate shareholder of Alibaba Investment, which holds approximately 53.85% of the Company's shares. The annual limits of the transaction are RMB 20,000,000, RMB 24,000,000 and RMB 28,800,000 respectively, and will be calculated on a consolidated basis for the Company's fiscal year. Due to the transaction...Show More