China Literature Hosts 2018 Super IP Ceremony

HONG KONG, Jan. 14, 2019 /PRNewswire/ -- China Literature Limited ("China Literature" or "the Company") (Stock Code: 0772.HK), a leading online literature platform in China, today announced that it hosted the 2018 Super Intellectual Property ("IP") Ceremony ("Super IP Ceremony") in cooperation with Shanghai Dragon TV, a leading satellite TV station in China, at the Shanghai Oriental Sports Center Stadium on January 13, 2019.

Super IP Ceremony is an annual event that celebrates the adaptation of online literature into TV and web series, films, animations, and games by recognizing the extraordinary work of the authors, works of literature, IP adaptation partners, and fan-favorite characters and actors. This year's ceremony was broadcasted on Shanghai Dragon TV.

During the ceremony, China Literature also released its 2019 Top IP Adaptions List. Leveraging its deep experience and library of over 10 million online literary works, China Literature publishes the Top IP Adaptions List each year to identify the high-quality IP ripe for adaptation to TV and web series, films, animations, and games. This year's Top IP Adaptions List offered the Company's content adaptation partners with a wide selection of high-quality original literary content composed of 158 works of literature that cover not only traditional genres but also newly emerging ones.

Mr. Wu Wenhui, Co-Chief Executive Officer of China Literature stated, "Our IP operation business progressed well during the year as we continue to strengthen our market position as the leading source for IP that can be adapted to various entertainment formats. According to Entgroup, an independent entertainment research firm, 8 out of the top 17 works of online literature adapted to TV and web series originated from our online platform and attracted a large number of views. For example, Our Glamorous Time exceeded 200 million views within 8 hours of its live broadcast, and Legend of Fuyao exceeded 14.4 billion cumulative views. On the animation side, The King's Avatar, Battle Through the Heavens and Stellar Transformations were among the most popular animations in terms of video views in China. Games based on our IP included Soul Land and Battle Through the Heavens which gained widespread popularity soon after their releases. TV series adapted from our IP also made significant progress expanding into international markets including The Rise of Phoenixes which has been streaming on Netflix since September 2018."

"We believe China's online literature market and downstream entertainment industries have enormous growth potential," Mr. Wu added. "Looking ahead, we will continue to further leverage our diverse literary content offerings. Aside from the traditional genres such as fantasy and romance, this year we will promote the adaptation of innovative new genres such as novels based on realistic and contemporary urban themes. We are committed to building a complete entertainment ecosystem that spans from online reading to content adaptation to facilitate the development of more blockbuster IPs."

About China Literature Limited

China Literature Limited is a pioneer in the online literature market and operates China's leading online literature platform. The Company owns nine major branded products. Among these, QQ Reading, a unified mobile content aggregation and distribution platform, is the flagship product. Other products focus on individual genres and their respective fan bases. China Literature's shareholder and strategic partner, Tencent, provides the Company with exclusive content distribution access via its suite of leading mobile and Internet products, including Mobile QQ, QQ Browser, Tencent News, Weixin Reading and Tencent Video. The Company also has distribution beyond the Tencent platforms by pre-installing apps on handsets partners such as Oppo, Vivo and Huawei as well as licensing content to third-party partners such as Baidu, Sogou, JD.com and Xiaomi. China Literature monetizes its vast and proprietary content library through online paid reading and content adaptations for a variety of entertainment formats. China Literature's diverse and high quality content library is a significant competitive advantage that lies at the core of its business model. China Literature further expanded its content capabilities downstream by acquiring New Classics Media, a renowned TV series, web series and film producer in China in 2018.  

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This press release contains forward-looking statements relating to the industry and business outlook, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in future. Underlying the forward-looking statements is a large number of risks and uncertainties. Further information regarding these risks and uncertainties is included in our other public disclosure documents on our corporate website.

SOURCE China Literature Limited