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China Literature Announces 2022 Annual Results

Retrieved on: 
Thursday, March 16, 2023

HONG KONG, March 16, 2023 /PRNewswire/ -- China Literature Limited ("China Literature" or "the Company", stock code: 0772), a leading online literature and intellectual property ("IP") incubation platform in China, today announced the audited consolidated results for the year ended December 31, 2022.

Key Points: 
  • HONG KONG, March 16, 2023 /PRNewswire/ -- China Literature Limited ("China Literature" or "the Company", stock code: 0772), a leading online literature and intellectual property ("IP") incubation platform in China, today announced the audited consolidated results for the year ended December 31, 2022.
  • Mr. Edward Cheng, Chief Executive Officer of China Literature, commented: "We experienced major macro changes in 2022, and witnessed efforts across the digital entertainment industry to improve content quality and ROI.
  • The other losses in 2022 mainly consisted of a net fair value loss related to certain investee companies and acquisitions.
  • These blockbusters are all enabled by the unique strengths of China Literature's proprietary IPs, its ability to mobilize resources across the entire value chain, as well as the production capabilities of New Classics Media and China Literature Pictures.