Zhao Wei and husband acquire Alibaba shares

Heidi Hsia

27 January 2015 at 1:31 am

27 Jan – It was reported that Chinese actress Zhao Wei and husband Huang You Long's Gold Ocean Media Inc. have recently acquired a 9.18 percent share capital of Alibaba Pictures.

As reported on Phoenix News, the married couple reportedly has become the company's first two major shareholders, after spending nearly HKD3.1 billion (approximately USD400 million) to buy the company shares.

The acquisition was revealed on 23 January through the Hong Kong stock exchange.

According to an analyst at the RHB Research Institute in Hong Kong, the actress is a close friend of Alibaba Group Holding's owner Jack Ma, and decided to help the billionaire in his expansion into the movie business.

Alibaba Pictures recently stated that it expects a loss of as much as HKD600 million for the 2014 fiscal year due to decline of advertising sales and production delays.

(Photo source: lady.southcn.com)

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