Damai Entertainment Holdings Limited (Stock Code: 1060) announced the revision of its annual cap for continuing connected transactions under the Commissioned Production Cooperation Framework Agreement for the financial year ending March 31, 2026. The revised amount, effective November 28, 2025, will increase from RMB100 million to RMB200 million.
The company’s unaudited information indicated that actual expenditures under these commissioned production services had already reached 98% of the original RMB100 million cap for the seven months ended October 31, 2025. The principal factor driving the higher-than-expected transaction amount is the ongoing expansion of investments in premium content and an increase in production projects, especially around upcoming holiday periods in the People’s Republic of China.
According to the announcement, the new annual cap remains subject to reporting, annual review, and announcement requirements, but there is no need for independent shareholder approval based on relevant Listing Rules. Directors with roles at Alibaba Group did not participate in the voting process due to potential conflicts of interest. The board considers the revised arrangement to be on normal commercial terms and in the best interest of both the company and its shareholders.
The company, incorporated in Bermuda, focuses on live content and technology ventures, IP merchandising, film content and technology, and drama series production. Its counterparty to these continuing connected transactions, Youku Information, is a consolidated entity within Alibaba Group Holdings Limited, a controlling shareholder of Damai Entertainment Holdings Limited.
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