Alibaba Pictures 'strategic shareholding and shareholding ratio reaches 30%

on November 28th, Alibaba Pictures Group announced its strategic investment in Hehe Pictures. Upon completion of the investment, Alibaba Pictures will hold a 30% stake in Hehe Pictures, making it its second largest shareholder, and will send two representatives to join the board of directors of Hehe Pictures. At the same time, Alibaba Pictures and Hutchison Pictures announced the establishment of a strategic partnership, the two companies will carry out comprehensive cooperation in their original film production and publicity and distribution areas.

he Pictures was founded in 2013 and has made full efforts in the field of film investment and distribution management since 2016. Invest and take the lead in collaborating with Lianrui, Matt and other high-quality companies in the industry to manage and distribute "Mermaid", "Hero of Hot Pot", "Escape of the Jedi", "the pursuer" and other projects, with a total box office of nearly 4.8 billion yuan as of October this year. Among them, "the Mermaid" became the highest-grossing film in Chinese history with a score of 3.39 billion yuan. Hewa Pictures has boldly used the innovative financial system to invest in high-quality film projects such as "Mermaid", "the Hunter" and "Heart of the Champion" through trust funds, and will further strengthen its investment in content production in the future. the company's "and power film list plan" includes more than 20 films, including "Hermit", "Green Wo Men's High", "stupid camera", "fantastic Journey" and so on. Hehe Pictures maintains a good cooperative relationship with top directors such as Stephen Chow, Jiang Wen, Wong Kar-wai and Cao Baoping in film investment and promotion.

the largest shareholder of he Pictures is Chairman and General Manager Yang Wei, while other shareholders include Chen Kun, Yang Kun, Cao Baoping and cutting-edge directors such as Hao Jie, Zhang Jie and Jiang Zhuoyuan.

the capital cooperation between Alibaba Pictures and Hehe Pictures can be traced back to May this year. At that time, Hehe Pictures, CDH Investments, Ant Financial Services Group, Sina, Bona Pictures, Huatze Pictures, Southern Pan Entertainment, Lianrui Pictures and other organizations participated in round A financing for ticket hunting on Alibaba Pictures' Internet promotion platform.

since the beginning of this year, Alibaba Film's entertainment platform of the whole industry chain with innovative Internet publicity and distribution system as the core has begun to take shape, and various core businesses have shown a trend of accelerated development. Shareholding and film industry will enhance the synergy between the two. At present, Alibaba Film's Internet publicity business continues to improve its influence in the industry. Taobaipiao ranks second in the online ticketing market, and its market share is still increasing. The online and offline resources of Alibaba Pictures and Hehe Pictures are highly complementary, and strategic cooperation will promote the faster business development of the two companies.

Zhang Qiang, CEO of Alibaba Pictures, said that Hehe Pictures' financial innovation in film investment and distribution is of positive significance to China's film industry. "We hope to make more useful explorations in the field of film production, publicity and distribution, so as to form a healthy film financial ecology, help more film creators and promote the development of the industry."

Yang Wei, chairman and general manager of he Pictures, said that Alibaba's innovative Internet business thinking will stimulate more vitality and potential of the film and television industry, and is full of confidence and expectation for the coordinated development of the two sides in the future. "Hehe Pictures is still very young, and we will strive to constantly correct the direction and reduce mistakes on the way of growth, adhere to the quality of content investment, and set an industry example in the financial instruments to provide rigorous and standardized integrated management services for film and television projects."

Edit: yvette