Tencent’s China Literature Publishes Fifteenfold Profit Growth
China Literature's exhibition at the 11th China International Cultural and Creative Industry Expo in Beijing in October 2016. Photo: VCG
Net profit for Tencent’s online publishing unit China Literature was 15 times greater in 2017 compared to 2016, according to the company’s first annual results released after its blockbuster initial public offering (IPO).
Revenue grew by 60% to 4.1 billion yuan ($648 million), from 2016’s 2.6 billion yuan. Profit attributable to shareholders jumped by a staggering 1,416% from last year’s 36.7 million yuan to 556.1 million yuan in 2017.
You've accessed an article available only to subscribers
Try 4 weeks for $0.99
SUBSCRIBE
Share this article
Open WeChat and scan the QR code
RELATED
MOST POPULAR
- 1Caixin View: China Feels Chill From Trouble in Turkey
- 285-Year-Old Petitioner, in Poor Health, Denied Parole
- 3Update: ‘First Fully Homegrown’ Browser Outed as Based on Google’s Chrome
- 4In Depth: HNA Charts New Course Back to Airline Basics
- 5Banned From Planes and Trains, Jia Yueting Hands Over U.S. Car Startup’s China Business
SPONSORED
- 1Power To The People: Pintec Serves A Booming Consumer Class
- 2Largest hotel group in Europe accepts UnionPay
- 3UnionPay mobile QuickPass debuts in Hong Kong
- 4UnionPay International launches premium catering privilege U Dining Collection
- 5UnionPay International’s U Plan has covered over 1600 stores overseas