Vertical Observer

The vertical-drama business, sourced

UPDATED 23 October 2026 216 REPORTS · 172 COMPANIES

Production / IP

China Literature (阅文)

Key facts

Operator / parent
HKEX 0772; Tencent-backed
Origin
China
Headquarters
Shanghai
Category
Production / IP

China Literature is the Tencent-backed web-fiction group listed in Hong Kong, and one of the main upstream IP suppliers to the duanju business. It also distributes short drama itself (发行短剧) and produced more than 100 shorts in 2024. FY2024 revenue was CNY 8.12bn, up 15.8%.

China Literature (阅文) revenue and key figures

Reported revenue: CNY 8.12bn in FY2024, +15.8% (official, China Literature filing)

MetricFigureBasisSource
RevenueCNY 8.12bn in FY2024, +15.8%officialChina Literature filing
Outputmore than 100 shorts in 2024no basis given—

Profile

Content
Upstream IP and short-drama distribution (发行短剧).