Alibaba Pictures Group Limited provided consolidated earnings guidance for the six months ended September 30, 2021. The board of directors of the Company informed shareholders of the Company and potential investors that, based on its preliminary assessment of the latest unaudited consolidated management accounts of the Group, it is expected that the net loss attributable to owners of the Company for the six months ended September 30, 2021 will decrease substantially by not less than 60% from approximately RMB 162 million as recorded for the six months ended September 30, 2020. The expected significant decrease in the net loss as mentioned above was primarily attributable to the effective control of the COVID-19 pandemic in the mainland China, which facilitated the strong recovery in box office of domestic film market during the year. Coupled with the significant achievements delivered during the post-pandemic recovery from the Group's accumulated investment in the fields of content, technology as well as IP merchandising and commercialization, it is expected that the Group's overall revenue will increase by more than 40% as compared with that for the corresponding period last year, while the gross profit (net of marketing expenses) will increase by more than 50% as compared with that for the corresponding period last year.