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Shares of Ali Pictures are surging for the third consecutive day, jumping more than 7% to hit HK$0.495 at one point, marking a new high in nearly two months, after jumping 7% and 5% in the previous trading days.
The box office revenue of the new movie Lost In The Stars has reached 3.19 billion yuan, making it rank among the top 15 Chinese movies in terms of box office revenue in history.
The movie was jointly produced by As One Pictures (Beijing) Co., Ltd and and Shanghai Taopiaopiao Film and Television Culture Co., Ltd. Meanwhile, the two major distributor of the movie are Shanghai Taopiaopiao Film and Alibaba Pictures (Beijing) Co. Ltd, both of which are subsidiaries of Alibaba both belong to the company of Ali Pictures.
Kaiyuan Securities said in a note that China’s movie box office revenue during this year’s summer break is expected to set a new record high, which will boost performance of movie production companies and theatres.
