Well, this sure is exciting!
My first thought was also along the lines of "who's this tiny company, how badly is this going to go" etc. but I've done a little bit of digging into Alibaba and it looks like they very recently partnered with Spielberg's Amblin Partners and actually acquired a minority stake in Amblin Entertainment, which owns, wait for it... Dreamworks. I of course don't know if this means Alibaba will be working with Amblin or Dreamworks on the film or not, but that's at least somewhat reassuring.
Even if they don't work with Amblin, seems like they've put out a couple good-looking Chinese animated films since 2014. They also invested in Star Trek Beyond, apparently? Neat. I just hope they don't put stars for leaders and/or anime hair on the characters. Those were always personal peeves of mine when it came to Warriors character designs. :p