Damai Entertainment Proposes Higher Annual Cap Under Purchase Contract with Alipay (Hangzhou)

MT Newswires Live

Sep 22

Damai Entertainment (HKG:1060) is proposing to increase the annual cap under a purchase agreement to 100 million yuan from 36 million yuan previously, a Friday Hong Kong bourse filing said.

Shares of the motion picture company were down 2% in Monday afternoon trading.

The agreement comprises a purchase framework agreement between Alibaba Shouquanbao (Tianjin) Culture Communication, a consolidated entity of Damai Entertainment, and Alipay (Hangzhou) Information Technology.

The firm said the current cap was insufficient to meet its business needs for the fiscal year ending March 31, 2026.

Alipay (Hangzhou) Information Technology is a unit of Ant Group, an associate of Alibaba Group (HKG:9988). Alibaba is the ultimate shareholder of Alibaba Investment, which is a controlling shareholder of Damai Entertainment.

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Alibaba is the ultimate shareholder of Alibaba Investment, which is a controlling shareholder of Damai Entertainment.</p></body></html>\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"LU1196710864.SGD","symbol_name":"Schroder ISF Emerging Markets Multi-Asset A Dis SGD-H","start_time":0,"source_url":"https://www.mtnewswires.com/","article_id":"2569054142","we_media_id":"1092851196","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2569054142","pubTimestamp":1758521869,"columns":[],"sourceInfo":{"source_id":"mtnewswires_news","name":"MT Newswires"},"weMediaInfo":{"media_name":"MT Newswires Live","introduction":"The most recognized names in North America, Europe and Asia rely on MT Newswires to power their applications. 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