(Reuters) - Chinese actress Vicki Zhao Wei has taken a major stake in Alibaba Group Holdings' film division, bringing some star power to a company that warned on Monday it could rack up losses of as much as HK$600 million (S$104 million) for 2014.
The star of Shaolin Soccer and Red Cliff and Huang Youlong, her husband, paid more than HK$3 billion for 9.18 per cent of Alibaba Pictures Group, according to Hong Kong stock exchange filings.
Zhao, considered one of the country's most bankable stars, and her husband made the acquisition through holding company Gold Ocean Media last December.
Online commerce company Alibaba bought and renamed the film-making company for more than US$800 million (S$1.07 billion) last year, as it expands into movies and entertainment content.
This month, Alibaba Pictures unveiled its first movie project under its new ownership, a romance to be produced by acclaimed Hong Kong director Wong Kar Wai.
Those moves came as Chinese Internet rivals Tencent Holdings and Baidu also began to explore forays into movie-making and film content.
But Alibaba Pictures itself continues to struggle.
Last August, the company disclosed accounting irregularities after an internal review.
Last week, it said it hoped to replace its auditors, Deloitte Touche Tomatsu, with PricewaterhouseCoopers.
And on Monday, it revealed a "significant drop" in 2014 revenue that it blamed on delays in TV-series distribution, the cancellation or delay of slated films, and a drop in magazine advertising revenue.