Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

(Incorporated in Bermuda with limited liability)

(Stock Code: 1060)

GRANT OF SHARE OPTIONS

This announcement is made pursuant to Rule 17.06A of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the "Listing Rules").

The board of directors (the "Board") of Alibaba Pictures Group Limited (the "Company") announces that the Company has granted a total of 26,900,000 share options (the "Options") to certain eligible participants (the "Grantee(s)") under the share option scheme adopted by the shareholders of the Company on June 11, 2012. Subject to the acceptance of the Grantees, the Options will entitle the Grantees to subscribe for a total of 26,900,000 new shares of the Company (the "Share(s)"). Details of the Options granted are set out below:

Date of grant

September 11, 2020

Exercise price of Options granted

HK$1.144 per Share

Closing price of Shares on date of grant

HK$1.120 per Share

Validity period of Options

10 years from September 11, 2020 to September 10, 2030

None of the Grantees is a director, chief executive or substantial shareholder (as defined under the Listing Rules) of the Company, or an associate (as defined under the Listing Rules) of any of them.

On behalf of the Board

Alibaba Pictures Group Limited

Fan Luyuan

Chairman & Chief Executive Officer

Hong Kong, September 11, 2020

As at the date of this announcement, the Board comprises Mr. Fan Luyuan, Mr. Li Jie and Mr. Meng Jun, being the executive directors; Mr. Xu Hong, being the non-executive director; and Ms. Song Lixin, Mr. Tong Xiaomeng and Mr. Johnny Chen, being the independent non-executive directors.

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Alibaba Pictures Group Limited published this content on 11 September 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 11 September 2020 11:44:01 UTC