Suit alleges that China Literature violated supply agreements, following rollout of promotion offering unlimited literature for $1.48 a month

New filing shows China Reading’s revenue rose 59% last year as company turned profitable on booming demand for its online products

Spinoff of China Reading aims to help unit raise profile and fund future expansion, while internet giant will remain its majority shareholder

New joint venture to see Wanda’s film studio adapt stories for movies and TV series from internet giant’s popular literature unit