China Literature ( (CHLLF) ) has released its Q4 earnings. Here is a breakdown of the information China Literature presented to its investors.
China Literature Limited, a prominent online literature and intellectual property platform in China, has reported its financial results for the year ending December 31, 2024. The company is known for its extensive content library and its ability to adapt intellectual properties into various entertainment formats, including films, TV series, and games.
In 2024, China Literature experienced a 15.8% increase in total revenues, reaching RMB8,121.1 million. This growth was driven by a 33.5% rise in revenues from intellectual property operations and other segments, while online business revenues saw a modest increase of 2.1%. Despite these gains, the company reported an operating loss of RMB336.1 million on an IFRS basis, largely due to an impairment loss related to New Classics Media.
Key financial metrics reveal a mixed performance. On a non-IFRS basis, operating profit stood at RMB985.4 million, with a profit attributable to equity holders of RMB1,141.7 million. However, on an IFRS basis, the company reported a loss attributable to equity holders of RMB209.2 million. The company’s gross profit increased by 16.3% year-over-year, and its gross margin improved slightly to 48.3%.
Looking forward, China Literature aims to continue its strategy of focusing on high-quality content and leveraging cutting-edge technologies. The company plans to further enhance its intellectual property commercialization and explore new opportunities in the global market, particularly through the integration of artificial intelligence in content creation and distribution.