China Literature Hosts 2019 Original Literature Awards Ceremony

HONG KONG, Jan. 20, 2020 /PRNewswire/ -- China Literature Limited ("China Literature" or "the Company") (Stock Code: 0772.HK), a leading online literature platform in China, today announced that it hosted the 2019 Original Literature Awards Ceremony in cooperation with Shanghai Dragon TV, a leading satellite TV station in China, on January 18, 2020 in Shanghai. The event was also broadcasted on Shanghai Dragon TV.

The event was themed "Good Stories for China, Building a New Era" and was headlined by the release of the 2019 Top Original Literature List. With consumer tastes in China rapidly changing, China Literature has focused on strengthening its content offerings by diversifying literary content and incubating new writers and literary works such as the fantasy novel Lord of the Mysteries which spearheaded a new literary category and features untraditional content and plot structures that combine aspects from popular dramas and video games to expand the target audience. This has proven very successful and has already generated over two million comments on Qidian.com, making it the most commented literary work on the platform in 2019. Another example includes a Generation Z author who was recognized with the Most Promising Young Writer Award for his science-fiction novel Dead on Mars, which was widely recognized as the best hardcore science-fiction novel in 2019. At the same time, China Literature has further expanded its presence overseas to promote the export of Chinese online literature and culture. WebNovel, the Company's international platform, continues to attract many readers and writers including Canadian author Arria Cross who wrote His Genius Wife is a Superstar, which has already generated over 25 million views.

The 2019 Top Intellectual Property ("IP") Adaptions List was also released during the event which highlights some of the highest-quality IPs ripe for adaptation into TV and web series, films, and games. The list includes Great Doctor Ling Ran, Hua Jiao, The First Order, and He Comes From the Wind among others and covers a wide variety of genres which cover modern themes, traditional culture, and technological development. Leveraging its deep experience and library of over 11 million online literary works, China Literature continues to strengthen its market position as the leading source for IP that can be adapted into various other entertainment formats.

China Literature's IP operation business is growing rapidly as more IPs are rapidly being adapted to other mediums. In terms of TV and web series, The King's Avatar, Once Upon A Time There Was A Spirit Sword Mountain, and Joy of Life have all been adapted and gone on to become very popular. In particular, Joy of Life was ranked first among all TV and web series on Baidu's 2019 search index and received a Douban score of 7.9 out of 10 points with more than 250,000 votes. The success of the drama series has also rekindled interest in the novel, which once again shot up the rankings on China Literature's best-seller list since its original launch over 10 years ago. In terms of animations, Battle Through the Heavens series has accumulated a total viewership of 5.4 billion. In addition, The King's Avatar: For the Glory was the first animated film about E-sports to hit Chinese cinemas in 2019. In terms of games, the mobile game New Soul Land, which was adapted from Soul Land, a classic fantasy novel, won a number of high profile awards such as the 2019 Golden Gyro "Popular IP Game of the Year", and the 2019 Golden Grape "Most Remarkable Game".

Mr. Wu Wenhui, Co-Chief Executive Officer of China Literature stated, "Our online reading and IP operation businesses continued to progress well throughout the year. We are focused on providing our readers with highest-quality literary content available that tell intriguing and fascinating stories. Joining force with New Classics Media and other top partners in the entertainment industry, we are ideally positioned to develop our IPs into best-in-class drama series, films, animations, comics and games to elevate their value. These efforts have yielded amazing results, witnessed by a number of blockbusters released this year. Looking ahead, we are in the driver's seat to champion the development of IP-centric, top-quality content with an unprecedented level of industry cooperation."

About China Literature Limited

China Literature Limited is a pioneer in the online literature market and operates China's leading online literature platform. The Company owns nine major branded products. Among these, QQ Reading, a unified mobile content aggregation and distribution platform, is the flagship product. Other branded products focus on individual genres and their respective fan bases. China Literature's shareholder and strategic partner, Tencent, provides the Company with exclusive content distribution access via its suite of leading mobile and Internet products, including Mobile QQ, QQ Browser, Tencent News, Weixin Reading and Tencent Video. The Company also has distribution beyond the Tencent platforms by pre-installing Apps on handsets partners such as OPPO, Huawei and VIVO, as well as licensing content to third-party partners such as Baidu, Sogou, JD.com and Xiaomi Duokan. China Literature monetizes its vast and proprietary content library through online paid reading and content adaptations for a variety of entertainment formats. China Literature's diverse and high-quality content library is a significant competitive advantage that lies at the core of its business model. In 2018, China Literature further expanded its content capabilities downstream by acquiring New Classics Media, a renowned TV series, web series and film production company in China. For more information, please visit http://ir.yuewen.com/.

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This press release contains forward-looking statements relating to the industry and business outlook, forecast business plans and growth strategies of the Company. These forward-looking statements are based on information currently available to the Company and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, some of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in future. Underlying the forward-looking statements is a large number of risks and uncertainties. Further information regarding these risks and uncertainties is included in our other public disclosure documents on our corporate website.

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