China Literature Group's Strong Performance and Expansion in 2024

TapTechNews August 12th news, China Literature Group today announced in the Hong Kong Stock Exchange that for the six months ended June 30, 2024, the group's revenue was 4.191 billion yuan, an increase of 27.7% year-on-year.

The announcement shows that in the first half of 2024, China Literature Group's gross profit was 2.083 billion yuan, and the profit attributable to equity holders of the company under non-IFRS was 702 million yuan, an increase of 16.4% year-on-year. An increase of 29.8%; operating profit was 454 million yuan, an increase of 46.1% year-on-year; The profit attributable to equity holders of the company was 504 million yuan, an increase of 33.9% year-on-year.

TapTechNews learned that in the first half of 2024, the online reading platform of China Literature Group added about 170,000 writers and 320,000 novels, and the newly added words exceeded 21 billion. The number of newly signed works with an average subscription of more than 50,000 in the first half of the year increased by 75% year-on-year, and the number of newly signed works with a reading income of more than 2 million RMB increased by 33% year-on-year. At the same time, young writers are accelerating their rise. In the list of new 'Platinum Great Gods' in 2024, the proportion of post-90s writers exceeded 70%.

China Literature Group continues to expand its overseas business. As of June 30, 2024, WebNovel, the overseas reading platform of China Literature Group, provides overseas users with about 5,000 Chinese translation works and about 650,000 local original works.

In the field of film and television, China Literature Group has achieved 1 box office champion film and 3 hit TV dramas, including: The movie 'Hot and Spicy', the TV drama 'With the Phoenix', the TV drama 'Joy Of Life Season 2', the TV drama 'The Story of Roses'.