Summary by Moomoo AI
Ali Motion Pictures issued a profit warning that expects net profit of no less than RMB 2.6 billion in fiscal 2023/2024, representing a net loss of RMB2.911 billion compared to the previous fiscal year's net loss. The Company expects total revenue to grow by more than 40% for the fiscal year 2023/2024. Adjusted EBITA will exceed RMB 10 billion, up more than 700% year-on-year if barley acquisitions are included. The Board noted that the revenue growth was primarily driven by a strong recovery in the offline entertainment business and an increase in the number of premium videos. The company will continue to invest in the content business and explore new business forms, such as AIGC, to consolidate its market position. The announcement is based on preliminary assessment and final results will be announced on or before May 29, 2024.