Alibaba Pictures Group Limited provided earning guidance for the six months ended September 30, 2022. The board of directors of the Company informed the shareholders of the Company (the "Shareholders") and potential investors that, based on its preliminary assessment of the unaudited consolidated management accounts of the Group and information currently available to the Board, it is expected that the net loss attributable to owners of the Company for the six months ended September 30, 2022 will not exceed RMB 30 million, as compared with RMB 53.23 million for the six months ended September 30, 2021, and the net profit attributable to owners of the Company of RMB 169 million for the financial year ended March 31, 2022. The Board believes that the expected decrease in the net loss is primarily attributable to, among other things, the Group's ongoing investment of the quality and quantity of films and drama series and a reduction of equity investment loss as a result of the focused investment strategy of the Group.