Damai Entertainment (HKG:1060) said its unit renewed a three-year framework agreement with Youku Technology covering copyright transfers and commissioned production cooperation, according to a Tuesday Hong Kong bourse filing.

Shares of the entertainment firm were down more than 2% in Wednesday's late morning trade.

Under the deal, Beijing Damai will continue supplying drama and film copyrights and undertake commissioned productions for Youku from April 1, 2026, to March 31, 2029.

Annual caps for fees payable by Youku to the group are set at 2.74 billion yuan for 2027, 3.01 billion yuan for 2028, and 3.31 billion yuan for 2029.

Youku is an indirect subsidiary of Alibaba (HKG:9988), a controlling shareholder of Damai.