Ali Pictures proposes name change to Damai Entertainment Holdings

** Ali Pictures Group Limited (HKEX:1060) has announced a proposal to change its name to Damai Entertainment Holdings Limited, subject to shareholder and regulatory approvals. The company will also change its secondary name in Chinese. The proposed change aims to enhance brand awareness, refresh its brand strategy across the entire entertainment ecosystem, and provide a more relevant and distinctive corporate identity, particularly in the offline entertainment market. Shareholders will vote on the proposed change at a special general meeting (SGM) scheduled for June 5, 2025. Additionally, amendments to the company's bye-laws will be proposed to reflect the name change. The move also affects the company's stock short names, logo, and website, subject to confirmation by The Stock Exchange. Existing share certificates will remain valid, and new certificates will be issued under the new name after the change becomes effective. Trustees holding unvested shares under a share award scheme, representing approximately 1.32% of the issued share capital, will abstain from voting on the resolutions.