2 stories mentioning HKG:0772Updated 1h ago
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China Literature (HKG:0772) has an average rating of buy and mean price target of HK$27.86, according to analysts polled by FactSet.(covers equity, commodity and economic research from major banks and research firms in North America, Asia and Europe. Research providers may contact us here: https://finwires.com/en/contact)
China Literature's (HKG:0772) operating entity in China, Shanghai Hongwen Networking Technology, agreed to acquire 28.22% equity interest in game developer Wuhan YHKT Entertainment, according to a Tuesday Hong Kong bourse filing.Shares of the online literature platform were down nearly 3% in Wednesday afternoon trading.Following completion of the purchase from Linzhi Lichuang Information Technology for 400.8 million yuan, China Literature will own a 59.7% stake in the target firm.The acquisition is expected to boost China Literature's competitive advantages in building a leading IP industry value chain, the filing said.Linzhi Lichuang Information Technology is ultimately controlled by Tencent (HKG:0700), which is the controlling shareholder of China Literature.
