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What's the matter with Huayi borrowing money from Ali? Why Huayi borrowed money from Ali

On January 24, Huayi Brothers announced that Ali pictures plans to provide the company with a loan of 700 million yuan with a term of five years. Both parties agree that the annual interest rate of the loan is the benchmark interest rate of the five-year loan of the same period of the people's Bank of China, and the interest shall be calculated according to the actual days of the loan, and the company shall pay the interest according to the year (the interest shall be settled and paid once every 365 days). What's the matter with Huayi borrowing money from Ali? Why does Huayi borrow money from Ali?

The announcement said Huayi Brothers signed a strategic cooperation agreement with ALI film, which agreed to carry out cooperation in the company's main control of film and television projects, artist development, derivatives development, marketing services and other fields.

Huayi Group guarantees that within 5 years from the effective date of this agreement, Huayi Group shall complete the production capacity of at least 10 cinema films (excluding Internet movies and Russell project) which are mainly controlled and released by Huayi Group.

During the term of cooperation, alifilm has the priority investment right for Huayi master project, and alifilm can exercise such priority investment right on its own or through its affiliates.

During the term of cooperation, for Huayi master control projects with which alifilm (or its affiliates) has signed an investment agreement with Huayi Group, under the same core business conditions, alifilm can preferentially cooperate with Huayi Group as a joint party.