Actress and husband buy 9% of Alibaba Pictures
Chinese actress Zhao Wei and her husband have acquired nearly a 9.2 percent stake in Alibaba Pictures Group for HK$3.1 billion ($400 million).
Zhaowei and Huang Youlong became the company’s secondlargest shareholder on Tuesday, according to a Hong Kong exchange filing, after acquiring 1.93 billion shares of Alibaba Pictures at an average price of HK$1.6 each in December last year.
The company issued a profit warning on Monday, saying that it expects to record a substantial loss of as much as HK$600 million for the 2014 fiscal year due to production delays, asset impairment provisions and decrease in its magazine advertising revenue.
The 39-year-old pop star established her acting career with the TV drama Princess Huanzhu in 1998, and she is also a film director. (Photo 3)
Students of an art school in Liaocheng of east China’s Shandong province on Jan 22 dressed up as cell phones and called for more face-to-face communication.