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Announcement of Final Results for the Year Ended March 31, 2021

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Announcement of Final Results for the Year Ended March 31, 2021 Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. (Incorporated in Bermuda with limited liability) (Stock Code: 1060) ANNOUNCEMENT OF FINAL RESULTS FOR THE YEAR ENDED MARCH 31, 2021 The board of directors (the “Director(s)”) (the “Board”) of Alibaba Pictures Group Limited (“Alibaba Pictures” or the “Company”) announces that the audited consolidated results of the Company and its subsidiaries (collectively, the “Group”) for the year ended March 31, 2021 together with the comparative figures for the previous year were as follows: FINANCIAL HIGHLIGHTS For the year ended March 31, 2021 2020 Changes RMB’000 RMB’000 % Revenue 2,858,897 2,874,694 (0.5) Loss attributable to owners of the Company (96,311) (1,150,570) (91.6) Adjusted EBITA 118,143 (660,895)# NM Net cash inflow/(outflow) from operating activities 264,952 (776,148) NM NM- Not Meaningful NM- Not meaningful # Adjusted 1 CONSOLIDATED STATEMENT OF PROFIT OR LOSS For the year ended March 31, 2021 2020 Note RMB’000 RMB’000 Revenue 3 2,858,897 2,874,694 Cost of sales and services 6 (1,471,489) (1,307,950) Gross profit 1,387,408 1,566,744 Selling and marketing expenses 6 (438,674) (1,016,680) Administrative expenses 6 (870,013) (1,044,142) Impairment losses on financial assets, net (143,844) (381,717) Other income 4 47,345 60,694 Other gains/(losses), net 5 (89,750) (166,151) Operating loss (107,528) (981,252) Finance income 7 102,292 184,516 Finance expenses 7 (18,746) (52,643) Finance income, net 83,546 131,873 Share of loss of investments accounted for using the equity method 10 (3,751) (46,186) Impairment of investments accounted for using the equity method 10 (90,254) (241,051) Loss before income tax (117,987) (1,136,616) Income tax credit/(expense) 8 802 (29,200) Loss for the year (117,185) (1,165,816) Loss attributable to: Owners of the Company (96,311) (1,150,570) Non-controlling interests (20,874) (15,246) Loss per share for loss attributable to owners of the Company for the year (expressed in RMB cents per share) 9 – Basic (0.36) (4.35) – Diluted (0.36) (4.35) 2 CONSOLIDATED STATEMENT OF COMPREHENSIVE INCOME For the year ended March 31, 2021 2020 RMB’000 RMB’000 Loss for the year (117,185) (1,165,816) Other comprehensive income: Items that may be reclassified to profit or loss Currency translation differences attributable to owners of the Company (162,860) 77,292 Items that may not be reclassified to profit or loss Currency translation differences attributable to non-controlling interests (3,438) (2,412) Other comprehensive income for the year, net of tax (166,298) 74,880 Total comprehensive loss for the year (283,483) (1,090,936) Attributable to: – Owners of the Company (259,171) (1,073,278) – Non-controlling interests (24,312) (17,658) Total comprehensive loss for the year (283,483) (1,090,936) 3 CONSOLIDATED BALANCE SHEET As at March 31 2021 2020 Note RMB’000 RMB’000 Assets Non-current assets Property, plant and equipment 62,113 73,575 Investment property 22,562 – Goodwill 3,551,116 3,551,116 Intangible assets 126,461 141,090 Right-of-use assets 244,868 282,261 Deferred income tax assets 11,453 13,054 Investments accounted for using the equity method 10 2,075,319 2,205,079 Film and TV rights and investments 221,413 226,666 Financial assets at fair value through profit or loss 1,131,683 860,883 Trade and other receivables, and prepayments 11 691,847 802,593 8,138,835 8,156,317 Current assets Film and TV rights and investments 1,305,498 1,593,065 Trade and other receivables, and prepayments 11 2,171,718 1,661,367 Current income tax recoverable 946 2,295 Financial assets at fair value through profit or loss 7,000 250,750 Cash and cash equivalents 3,897,802 4,004,528 Bank deposits with the maturity over three months – 159,496 Restricted cash 19,083 20,061 7,402,047 7,691,562 Total assets 15,540,882 15,847,879 4 As at March 31 2021 2020 Note RMB’000 RMB’000 Liabilities Non-current liabilities Borrowings 13 15,000 384,435 Deferred income tax liabilities 62,657 70,216 Lease liabilities 247,513 272,176 Trade and other payables, and accrued charges 12 – 3,000 325,170 729,827 Current liabilities Trade and other payables, and accrued charges 12 1,252,279 963,769 Contract liabilities 61,297 131,939 Current tax liabilities 243 – Borrowings 13 15,000 10,000 Lease liabilities 48,955 35,874 1,377,774 1,141,582 Total liabilities 1,702,944 1,871,409 Equity Equity attributable to owners of the Company Share capital 5,424,523 5,421,652 Reserves 8,361,798 8,476,724 13,786,321 13,898,376 Non-controlling interests 51,617 78,094 Total equity 13,837,938 13,976,470 Total equity and liabilities 15,540,882 15,847,879 5 Notes: 1. GENERAL INFORMATION Alibaba Pictures Group Limited (the “Company”) and its subsidiaries (together, the “Group”) form an internet-driven integrated platform that covers content production, promotion and distribution, intellectual property licensing and integrated management, cinema ticketing management and data services for the entertainment industry. The Company is a limited liability company incorporated in Bermuda. The address of its registered office is Clarendon House, 2 Church Street, Hamilton HM 11, Bermuda. The shares of the Company are listing on The Stock Exchange of Hong Kong Limited (the “HK Stock Exchange”). As at March 31, 2021, the Company is approximately 50.26% owned by Ali CV Investment Holding Limited (“Ali CV”). Ali CV is a wholly-owned subsidiary of Alibaba Investment Limited (“AIL”) which is in turn wholly-owned by Alibaba Group Holding Limited (“AGH”). The Company’s shares were delisted from the Official List of the Main Board of the Singapore Exchange Securities Trading Limited with effect from December 4, 2020. These consolidated financial statements are presented in Renminbi (“RMB”), unless otherwise stated. 2. BASIS OF PREPARATION AND CHANGES IN ACCOUNTING POLICIES 2.1 Basis of preparation The consolidated financial statements of the Group have been prepared in accordance with all applicable Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the Hong Kong Institute of Certified Public Accountants (“HKICPA”) and requirements of the Hong Kong Companies Ordinance Cap. 622. The consolidated financial statements have been prepared under the historical cost convention, as modified by the revaluation of certain financial assets which are carried at fair value. The preparation of financial statements in conformity with HKFRSs requires the use of certain critical accounting estimates. It also requires management to exercise its judgment in the process of applying the Group’s accounting policies. 6 (a) New and amended standards adopted by the Group The Group has adopted the following new standards, amendments to standards and interpretations which are mandatory for the financial year beginning on April 1, 2020: • Definition of Material – Amendments to HKAS 1 and HKAS 8 • Definition of a Business – Amendments to HKFRS 3 • Interest Rate Benchmark Reform – Amendments to HKFRS 9, HKAS 39 and HKFRS 7 • Revised Conceptual Framework for Financial Reporting The amendments listed above did not have any impact on the amounts recognized in prior periods and are not expected to significantly affect the current or future periods. (b) New standards and amendments not yet adopted Certain new accounting standards and amendments have been published that are not mandatory for March 31, 2021 reporting periods and have not been early adopted by the Group. These standards are not expected to have a material impact on the entity in the current or future reporting periods and on foreseeable future transactions. 7 2.2 Changes in accounting policies The Group has early adopted the amendment to HKFRS 16 on COVID-19-Related Rent Concessions retrospectively from April 1, 2020. The amendment provides an optional practical expedient allowing lessees to elect not to assess whether a rent concession related to COVID-19 is a lease modification. Lessees can elect to account for rent concessions in the same way as they would if there were not lease modifications. The practical expedient only applies to rent concessions occurring as a direct consequence of the COVID-19 pandemic and only if all of the following conditions are met: • the change in lease payments results in revised consideration for the lease that is substantially the same as, or less than, the consideration for the lease preceding the change; • any reduction in lease payments affects only payments due before June 30, 2021; and • there is no substantive change to other terms and conditions of the lease. The Group has applied the practical expedient to all rent concessions that meet the above conditions in respect of all lease arrangements for which lease liabilities are recognized. Rent concessions totalling RMB5,283,000 have been accounted for as negative variable lease payments and recognized in the consolidated statement of profit or loss with a corresponding adjustment to the lease liabilities. There is no impact on the opening balance of owners’ equity at April 1, 2020. 8 3. Revenue and segment information The chief operating decision-maker has been identified as the Board of Directors of the Company.
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