Alibaba Pictures Group (0160.HKG, S91.SGX) said it expected to report a loss for 2014 of up to HK$600 million (US$77.4 million) due to delayed distribution of TV drama series, a drop in magazine advertising and circulation revenue and personnel changes, The Wall Street Journal reported, citing a statement from the company. Last month Alibaba Pictures said its auditor found the company had misstated taxes and the financial impact of convertible bonds, and that earnings in the first six months of 2015 would fall by up to HK$390 million. It posted a profit of HK$235 million in 2013.
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