China Literature H1 Profit Jumps 69% Despite Revenue Drop; Shares Surge 14%

MT Newswires Live

08/13

China Literature (HKG:0772) reported a profit attributable to equity holders of 849.8 million yuan for the six months ended June 30, up about 69% from 504.3 million yuan a year earlier, according to a Tuesday Hong Kong bourse filing.

Shares of the online literature platform surged over 14% in Wednesday morning trade.

Earnings per share came in at 0.83 yuan from 0.49 yuan a year earlier.

Revenue for the period fell nearly 24% to 3.19 billion yuan from 4.19 billion yuan in the prior year.

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