Alibaba Pictures Group, the entertainment subsidiary of e-commerce titan Alibaba Group Holding, recorded a 313 per cent year on year jump in revenue for the six months ended June 30 amid aggressive moves to build its infrastructure for the mainland Chinese film industry.
“Having laid the foundation for its core business segments over the last two years, the group is expected to advance to a new phase of development,” said Alibaba Pictures chairman Yu Yongfu in a regulatory filing late on Wednesday.
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