You will be redirected back to your article in seconds

Alibaba Buys Stake in Hehe Pictures

Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent.

The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general manager Yang Wei. It made a previous investment earlier this year.

Hehe Pictures, which also includes actor Chen Kun, singer Yand Kun, and director Cao Baoping as owner, has invested in movies including “The Mermaid,” “Chongqing Hot Pot,” “Skiptrace” and “Cock and Bull,” and have grossed $695 million (RMB 4.8 billion) at the box office. It now plans to invest in a further 20 pictures.

“We look forward to stepping up our fruitful partnership in terms of film production, promotion and distribution. By creating a healthy ecosystem for financing in the film industry, we hope to support more filmmakers and boost the development of the industry,” said Zhang Qiang, CEO of Alibaba Pictures.

More Biz

  • Paul Simon

    Paul Simon to Stage 'Unique' Farewell Concert at Queens' Flushing Meadows Corona Park

    Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent. The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general […]

  • Merger Angst Warner Media

    High Anxiety: WarnerMedia Staff Braces for New Boss as AT&T Takes Control

    Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent. The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general […]

  • Bob Iger arrives at the Oscars,

    Bob Iger: Disney Has 'Much Better' Chance of Closing Fox Deal Than Comcast

    Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent. The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general […]

  • Brian Roberts, Bob Iger Battle Over

    Brian Roberts and Bob Iger Go Head-to-Head in the Battle for Fox

    Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent. The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general […]

  • Disney Fox Merger Illustration by Rob

    Disney Ups Fox Bid to $71.3 Billion, Outflanking Comcast

    Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent. The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general […]

  • Sydney Holland

    Sumner Redstone's Ex-Fiancee Settles Lurid Elder Abuse Lawsuit

    Alibaba Pictures Group is to take a strategic stake in Chinese film investment company Hehe Pictures, which is largely owned by a number of Chinese movie talent. The value of the transaction was not disclosed, though Alibaba said that it would own a 30% stake and be Hehe’s second largest shareholder behind founder and general […]

More From Our Brands

Access exclusive content