Alibaba Pictures Group Limited provided unaudited consolidated earnings guidance for the six months ended September 30, 2023. The board of directors of the company informed the shareholders of the Company 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 profit attributable to owners of the Company for the six months ended September 30, 2023 will be no less than RMB 450 million, as compared with the net loss attributable to owners of the Company of approximately RMB 22.3 million for the six months ended September 30, 2022, and the net loss attributable to owners of the Company of approximately RMB 291.1 million for the financial year ended March 31, 2023. The Board believes that the turnaround from net loss to net profit is primarily attributable to, among other things, (i) robust recovery of offline entertainment business for the six months ended September 30, 2023, as the Group witnessed substantial year-over-year growth of total box office in Mainland China, and figures released by the China Film Administration showed that total box office revenue amounted to RMB 20.6 billion during the summer movie season in 2023, a record high for the corresponding movie season in Chinese film history; and (ii) excellent performance achieved by the Group's business with a significant year-over-year increase in the quantity of high-quality films jointly produced and distributed.