China Literature results could use more drama

China Literature

19/03/2018 10:26

(The author is a Reuters Breakingviews columnist.  The opinions
expressed are her own.)
    By Robyn Mak
    HONG KONG, March 19  (Reuters Breakingviews) - Tencent's $10
bln e-books arm delivered strong debut numbers as a public
company, with sales up 60 pct. But user growth is slowing, and
hype over turning historical novels and kung fu epics into hit
movies has yet to deliver. A lofty valuation requires a bit more
excitement.
       
    Full view will be published shortly.
    On Twitter https://twitter.com/mak_robyn
    
    CONTEXT NEWS
    - China Literature, the online publishing and e-book
subsidiary of gaming group Tencent, on March 19 reported revenue
of 4.1 billion yuan ($648 million) for 2017, an increase of 60
percent from the previous year.
    - Earnings topped 556 million yuan, compared to 37 million
yuan in 2016.
    - The company said it had 192 million monthly active users
as of end-December, up 13 percent in a year.     
    - For previous columns by the author, Reuters customers can
click on  MAK/   
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    <^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^
Company statement    https://www.prnewswire.com/news-releases/china-literature-announces-2017-annual-results-300615779.html
BREAKINGVIEWS-China Literature must summon army of Harry Potters
    urn:newsml:reuters.com:*:nL3N1NG1CT
BREAKINGVIEWS-Hong Kong’s IPO market is turning Chinese   
 urn:newsml:reuters.com:*:nL3N1NE1MS
BREAKINGVIEWS-Tencent’s books are less gripping than its games  
  urn:newsml:reuters.com:*:nL4N1MZ15Y
    ^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^^>
 (Editing by Quentin Webb and Bob Cervi)
 ((robyn.mak@thomsonreuters.com;)(Reuters Messaging:
robyn.mak.thomsonreuters.com@reuters.net))