Alibaba Pictures, a recently formed film and TV production unit of Alibaba Group, said it had found possible non-compliant accounting and had requested that trading of its Hong Kong-listed shares be suspended.
On June 24, Alibaba Group completed its $804 million purchase of a 60 percent stake in ChinaVision Media Group, which has been renamed Alibaba Pictures Group.
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Alibaba Pictures said on Friday that it had found possible "non-compliant treatment of financial information" from periods prior to the deal as its new management undertook a review of the company's financial and business matters.
"The company is not yet in a position to comment on the potential impact on its current and historical financial affairs of the matters described above," Alibaba Pictures said.
Shares of Alibaba Pictures last traded at HK$1.61 before they were halted on Friday.
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