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Annual Report Our Mission Is to Create Value for Writers and to Bring Literature to People Contents
(Incorporated in the Cayman Islands with limited liability) Stock Code: 772 2019 ANNUAL REPORT OUR MISSION IS TO CREATE VALUE FOR WRITERS AND TO BRING LITERATURE TO PEOPLE CONTENTS 2 Corporate Information 4 Financial Summary and Operational Highlights 6 Chairman's Statement 10 Management Discussion and Analysis 22 Directors and Senior Management 27 Report of Directors 60 Corporate Governance Report 81 Environmental, Social and Governance Report 97 Independent Auditor's Report 107 Consolidated Statement of Comprehensive Income 108 Consolidated Statement of Financial Position 110 Consolidated Statement of Changes in Equity 112 Consolidated Statement of Cash Flows 114 Notes to the Consolidated Financial Statements 231 Definitions CORPORATE INFORMATION Board of Directors Strategy and Investment Committee Mr. Wu Wenhui (Chairman) Annual Report 2019 Executive Directors Mr. Liang Xiaodong • Mr. Wu Wenhui (Co-Chief Executive Officer) Mr. James Gordon Mitchell Mr. Liang Xiaodong (Co-Chief Executive Officer) Mr. Lin Haifeng (resigned on November 22, 2019) Ms. Chen Fei (appointed on May 17, 2019) Non-executive Directors Ms. Li Ming (retired on May 17, 2019) Mr. James Gordon Mitchell (Chairman) Mr. Cao Huayi (appointed on May 17, 2019) China Literature Limited Authorized Representatives Ms. Chen Fei (appointed on May 17, 2019) Mr. Liang Xiaodong Mr. Cheng Yun Ming Matthew Ms. Lai Siu Kuen (appointed on November 22, 2019) Ms. Li Ming (retired on May 17, 2019) Joint Company Secretaries Mr. Yang Xiang Dong (retired on May 17, 2019) Mr. Zhao Jincheng Mr. Lin Haifeng (resigned on November 22, 2019) Ms. Lai Siu Kuen Independent Non-executive Directors Legal Advisors Ms. Yu Chor Woon Carol As to Hong Kong laws: Ms. -
Online Novelists Rewrite the Rules of Creating Content for the Screen
Thursday, September 27, 2018 19 LIFE CHINA DAILY HONG KONG EDITION DRAMATIC TURNAROUND Adapted from a hit web novel, the Chinese fantasy drama Martial Universe is proving popular overseas despite meeting with a tepid response back home, Xu Fan reports. s one of the latest Chinese fantasy tales to grab head lines overseas, Mar tial A Universe has aired in 18 countries and regions, and is due to make forays into more foreign markets, according to it's producers. Adapted from a popular online novel, the series fic tionalizes the comingofage story of a reluctant hero, Lin Dong. The mischievous yet talented teenager from a fall en martial arts family, acci dentally discovers he has magic powers which draws him into a series of adven tures. What unfolds not only changes his destiny, but also Another highlight of the rewrites the history of his fic series is the directorship of tional land. Zhang Li, who is known as The novel, Wu Dong Qian one of China’s top TV drama Kun (Martial Arts Reshapes directors thanks to hits like the World), was written and For the Sake of the Republic of published online in 2011 by China, and Ming Dynasty in renowned web novelist, Li 1566. Hu, who is better known by Martial Universe marks the his pseudonym Tiancan 61yearold director’s shift Tudou, quickly garnering from serious historical around 32 million views themed dramas to fantasy within the space of a just few 19, and will be followed up by royal court, overseas audien stories. -
CHINA LITERATURE LIMITED 閱文集團 (Incorporated in the Cayman Islands with Limited Liability) (Stock Code: 772)
Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement. CHINA LITERATURE LIMITED 閱文集團 (incorporated in the Cayman Islands with limited liability) (Stock Code: 772) ANNUAL RESULTS ANNOUNCEMENT FOR THE YEAR ENDED DECEMBER 31, 2019 AND ISSUE OF CONSIDERATION SHARES UNDER THE SPECIFIC MANDATE The board of directors of China Literature Limited is pleased to announce the audited consolidated results of the Group for the year ended December 31, 2019. The results have been audited by the Auditor in accordance with International Standards on Auditing. In addition, the results have also been reviewed by the Audit Committee. FINANCIAL PERFORMANCE HIGHLIGHTS Year ended December 31, Year- 2019 2018 over-year RMB’000 RMB’000 (%) Revenues 8,347,767 5,038,250 65.7 Gross profit 3,692,023 2,557,979 44.3 Operating profit 1,193,907 1,114,951 7.1 Profit before income tax 1,179,797 1,077,801 9.5 Profit for the year 1,112,134 912,398 21.9 Profit attributable to equity holders of the Company 1,095,953 910,636 20.4 Non-GAAP profit attributable to equity holders of the Company 1,194,618 900,490 32.7 1 BUSINESS REVIEW AND OUTLOOK Company Strategic Highlights 2019 was a challenging year for China Literature as our business was impacted by rising competition over price and traffic, together with delayed broadcast approval for drama series. -
C Ntent 3 December 2017 L
27 november- C NTENT 3 December 2017 www.contentasia.tv l www.contentasiasummit.com ATF Dailies Alert! We will be publishing market dailies on Wednesday (29 Nov), Thursday (30 Nov) and Friday (1 Dec). All news welcome! Send tips, quips and announcements to Aqilah at [email protected] or drop in at our booth #M22 ATF 2017 opens slightly up on 2016 Singapore tops attend- ance with 137 companies registered on eve of market opening More than 1,000 companies from about 50 countries gather in Singapore this month for the annual programming mart, the Asia TV Forum and Market (ATF). More on page 2 What’s inside... Page 17: HBO Asia turns 25 with its big- gest slate of local originals and eyes wide open for more Page 8: China thaw drives new Korean engagement on eve of ATF; MBC strike ends but few think the battle is over Page 10: eOne talks co-production in Asia C NTENTASIA 27 november-3 December 2017 Page 2. ATF 2017 opens DreamWorks shifts from HBO to NBCU slightly up on Kids channel joins Fellowes team from 1 January 2018 2016 Singapore tops attend- ance with 137 companies registered on eve of market opening More than 1,000 companies from about 50 countries gather in Singapore this month for the annual programming mart, the Asia TV Forum and Market (ATF). Two days ahead of the three-day market opening on Wednesday (29 November), ATF listed 1,006 participating companies. This is up from the 978 listed on the eve of last year’s market. -
C NTENTASIA #Greatjobs See Page 5
4-17 may 2015 C NTENTASIA #GreatJobs see page 5 www.contentasia.tv l https://www.facebook.com/contentasia?fref=ts facebook.com/contentasia l @contentasia l www.asiacontentwatch.com Sony Pics restructures Asia Networks ops Asian, English content teams merged Sony Pictures Television Networks has re- structured its Asia operation, consolidating Asian and English-language content port- folios and trimming the Singapore-based team by a rumoured seven more people. News of the layoffs filtered out on Thursday, just before the May Day long- weekend. SPT Networks has not confirmed num- bers, but says roles were eliminated as part of the re-org and a small percentage of employees were affected. The latest layoffs follow the exit earlier in April of English-language program- ming vice president, Yan-Jong Wong, after 15 years. Also out is Chih Yeong Voo, vice president, business operations and development. Asian content vice president, Virginia Lim, has taken over the content and mar- keting portfolio as vice president. The restructure comes ahead of SPT’s launch of new Asian general entertain- ment channel, Gem Asia, with Japan’s Nippon Television Network Corporation. The new channel – Nippon TV’s first out- Story on page 8 OTT, streaming top APOS conversations Content comes first, industry leaders say Industry heads gathered in Bali for this year’s Asia Pacific Video Operators Sum- mit (APOS). Here’s some of what they said. See pages 10-16 C NTENTASIA 4-17 may 2015 Page 2. $30m more drives iflix SE Asia growth Philippines’ PLDT backs regional OTT Southeast Asia’s new regional stream- ing platform iflix has completed a US$30 million round of funding and said at the end of April that it was “primed for growth”.