Alibaba Pictures Braces for Fourfold Loss Increase, Blames Coronavirus

Alibaba Pictures, the separately listed entertainment arm of Chinese e-commerce giant Alibaba, warned that its losses will be at least $155 million in the year to March recently completed. It blamed the coronavirus outbreak and “complicated difficulties” within the mainland Chinese entertainment industry in 2019.

In a filing to the Hong Kong Stock Exchange issued after trading hours and during a four-day public holiday,

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