Alibaba Digital Media & Entertainment Group has announced its renaming as "Hujing Digital Media & Entertainment Group", and its subsidiary, ALI PICTURES (01060.HK) +0.080 (+11.268%) Short selling $55.62M; Ratio 6.975% , also issued a midday announcement on its intention to change its name to "Damai Entertainment Holdings".Going forward, Damai Entertainment will embrace the mission of creating high-quality real-world entertainment experiences for everyone. Focusing on the dual strategic pillars of entertainment and AI, it will strive to become Asia's leading technology-driven real-world entertainment company.Related NewsALI PICTURES Annual NP RMB364M, Up 27.7% YoYThe new Damai client was officially unveiled at the press conference as well. Built on the "entertainment + AI" development strategy, the new client is powered by AI to support multi-intent recognition and millisecond-level response times, enabling users to retrieve information faster and more accurately. Meanwhile, the AI-powered recommendation engine will leverage large AI models to identify user preferences and deliver highly targeted content suggestions, while also offering AI consultation services to meet users' personalized needs from multiple dimensions.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-22 16:25.)