Recent events
Recent events tied to this brand in public sources.
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2022
Yuewen licenses adaptation rights for The Ideal City to Watcha
Yuewen Group's 2021 annual report disclosed that it had licensed the live-action drama remake rights for The Ideal City to Korean streaming platform Watcha.
2021
China Literature announces sale of its Lazy Audio stake
China Literature announced a definitive agreement to sell its 39.8821% equity interest in Lazy Audio to Tencent Music Entertainment Group for RMB1.08 billion in cash. The transaction was expected to close in the first half of 2021, subject to customary closing conditions.
2020
China announces fines for three companies over deal-reporting failures
China’s market regulator said it would fine Alibaba Group, China Literature and Shenzhen Hive Box 500,000 yuan each for not reporting deals properly for anti-trust reviews.
2020
China fines Alibaba Investment, China Literature and Hive Box
China’s State Administration for Market Regulation fined Alibaba Investment Limited, China Literature Limited and Shenzhen Hive Box Technology 500,000 yuan each for implementing acquisitions without the required filings. The regulator said the acquisitions did not eliminate or restrict competition.
2020
Yuewen Group launches revised author cooperation contracts
Yuewen Group launched revised author cooperation contracts in three categories and four contract types. Under the basic and authorization agreements, authors can choose whether and how to authorize each work and receive different rights and resources.
2020
Yuewen Group and People's Reading sign strategic partnership
Yuewen Group and People's Reading signed a strategic cooperation agreement and will jointly establish a Reading Cognition Laboratory. The agreement includes literary creation initiatives and contests, as well as a platform for military-themed online literature.
2020
Yuewen responds to rumors about contracts and free reading
Yuewen Group issued a statement responding to rumors and questions. It said the contract under discussion was introduced in September 2019, not April 28, 2020, as rumors claimed, and said implementing free reading across the board was not possible or realistic.
2020
Yuewen Group announces management succession
Yuewen Group announced that co-CEO Wu Wenhui and some senior executives would resign from their current management positions, and that Cheng Wu would succeed Wu as CEO.
2020
China Literature and Tencent Music announce strategic partnership
China Literature and Tencent Music announced a strategic partnership to develop the long-form audio market for audiobooks. China Literature will license literary works from its platform to Tencent Music for adaptation into audiobooks, which the companies may distribute globally on their respective platforms.
2019
Hongxiu Reading launches a game open platform
Hongxiu Reading, under Yuewen, launched a game open platform intended to support integration between digital reading and the game ecosystem.
2019
Disney China and China Literature partner on Star Wars web fiction
Disney China and China Literature joined forces to produce the first Chinese-language Star Wars web fiction and the first storylines in the Star Wars universe written by a Chinese author.
2019
Yuewen announces acquisition of a 20% stake in OBU
Yuewen Group announced an agreement to acquire a 20% equity stake in Thailand-based OBU for a total consideration of US$10.5112 million. The agreement combines purchases of existing shares with a subscription for newly issued shares; completion was not reported.
2019
Yuewen subsidiary agreed to acquire a 20% stake in OBU
Yuewen Group announced that its wholly owned subsidiary Yuewen Literature had entered into an agreement to acquire a combined 20% equity stake in OBU from Tencent subsidiary Kapok Tree and Ookbee for a total cash consideration of US$10.51 million. After completion, OBU was expected to be held 29% by Tencent, 51% by Ookbee and 20% by Yuewen.
2019
Yuewen Literature and Ookbee announce a Thailand joint venture plan
Yuewen Literature and Ookbee announced plans to establish a joint venture in Thailand. The announced ownership split is 60% for Yuewen Literature and 40% for Ookbee; the source describes this as a plan, not a completed establishment.