not vested
China Literature profit tumbles, online revenue shrinksChina Literature (0772) said today net profit for the first half fell by 22 percent to 392.7 million yuan from 505.8 million yuan for the six months ended June 30, 2018.
Revenue fell by 30.1 percent on-year to 2.97 billion yuan.
The company said its library features 7.8 million writers and 11.7 million works of literature, including 11.1 million original literary works by writers on its platform, 380,000 works sourced from third-party platforms, and 230,000 e-books.
Revenues from online business fell by 11.5 percent to 1.66 billion for the six months ended June 30, on a year-over-year basis, accounting for 56 percent of total revenues.
Revenues from online business on self-owned platform products dropped by 10.1 percent year-over-year to 985.3 yuan, mainly due to a decline in paying users for the self-owned platform products as the company strengthened the review of paid content during the first half.
Revenues from online business on self-operated channels on Tencent products fell by 13.7 percent year-over-year to 431.4 million yuan mainly due to the continued decline in paid reading revenues from self-operated channels on certain Tencent products, partially offset by the contribution of online advertising revenues generated from the free-to-read model introduced in the first half on these Tencent products.
Revenues from online business on third-party platforms fell by 13.2 percent to 245.8 million yuan. This was due to the suspension of cooperation with certain third party platforms during the first half.
General and administrative expenses increased by 41.8 percent year-over-year to 473.4 million yuan due to an increase in employee benefit expenses resulting from increased headcount and salaries, an increase in outsourcing expenses for developing online games, and the consolidation of NCM’s business since October 2018.
Source: The Standard
http://www.thestandard.com.hk/breaking- ... 0812&sid=2
It's all about "how much you made when you were right" & "how little you lost when you were wrong"