Shulou(Shulou.com)11/24 Report--

CTOnews.com August 15 news, with QQ reading, starting point Chinese network and other brands reading group today announced the six months ended June 30,2022 unaudited comprehensive results. Total revenue was RMB4,087.2 million (US$609.0 million), compared with RMB4,342.1 million for the same period in 2021.

Non-IFRS operating profit increased 8.2% year-on-year to RMB693.8 million (US$103.4 million). Operating margin increased from 14.8% to 17.0%. Earnings attributable to equity holders increased 0.2% year-on-year to RMB666.0 million (US$99.2 million), while net profit margin attributable to equity holders increased from 15.3% to 16.3%. Online business was 2.31 billion yuan; copyright operations and other revenue was 1.78 billion yuan, accounting for 43% of revenue.

The average monthly active users of Yuewen Group's own platform products and self-operated channels increased by 13.8% year-on-year from 232.7 million to 264.7 million in the first half of 2022.

A further breakdown of monthly active users is as follows:

The monthly active users of its own platform products increased by 4.5% year-on-year from 114.6 million to 119.8 million, mainly driven by its advantages in quality content.

Monthly active users of Tencent's own channels increased by 22.7% year-on-year to 144.9 million from 118.1 million, mainly due to the increase in the number of users reading free content.

The average monthly paying users of self-owned platform products and self-operated channels decreased by 12.9% year-on-year from 9.3 million to 8.1 million in the first half of 2022, mainly due to free reading content attracting more light users in the second half of 2021. The average number of monthly paying users remained stable compared with 8.1 million in the second half of 2021.

The average monthly revenue per paying user of the paid reading business increased by 6.6% year-on-year from RMB36.4 to RMB38.8 in the first half of 2022, reflecting improvements in content operations, community functions and recommendation efficiency. The above factors drove the demand for premium content from paying users in the first half of 2022.

In June 2022, the average daily active user of the free reading business was approximately 14 million, compared to 13 million in June 2021.

CTOnews.com understands that in the first half of 2022, the reading group's online literature platform added about 300,000 writers and 600,000 novels, adding 16 billion words.

Reading Group said that in the future, it will develop derivatives in various forms around more IP, such as "Celebrating Years,""Lord of Secret 5 / 13,""Full-time Expert,""Ghost Blows Light," etc., and cooperate with the launch of relevant films and television, animation, games and other content for linkage promotion.

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