AMTD IDEA Group (AMTD) and its World Media and Entertainment Group subsidiary said Thursday they have entered into a partnership with Beijing Alibaba Pictures Culture in the fields of film, entertainment, content, and fashion media.
Financial details weren't disclosed.
Beijing Alibaba Pictures Culture is a subsidiary of Alibaba Pictures Group, which operates under Alibaba (BABA).
The companies have pledged to collaborate on film investments, supporting the growth of the Chinese film industry, and fostering a long-term partnership in culture, entertainment, and fashion media areas.
AMTD shares were up 11.5% in recent trading.
Price: 1.14, Change: +0.11, Percent Change: +10.58
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