Alibaba Pictures slides after lower H1 profit

Damai Entertainment Holdings

21/11/2024 03:39

** Shares of Alibaba Pictures Group Ltd  1060.HK  fall 7.4%
to HK$0.44, their lowest since Oct. 18; set to snap two
consecutive sessions of gains 
    ** Stock on course for biggest one-day pct decline since
Oct. 15
    ** Alibaba-backed  9988.HK  movie distribution group says H1
net profit for six-months ended Sept fell 27% Y/Y to 336.6 mln
yuan ($46.48 mln)
    ** "The decline in both box office and the number of viewers
has left movie studios facing a more complicated profitability
dilemma" - Co
    ** Hang Seng Commerce & Industry Index  .HSNC  gains 0.1%,
while Hang Seng Tech Index  .HSTECH  eases 0.5% and Hang Seng
Index  .HSI  slips 0.1%
    ** Stock down 1% YTD  


($1 = 7.2423 Chinese yuan renminbi)

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))