$CHINA LIT(00772)$ Think about it，Bilibili only has two standout Chinese animation IPs: "A Record of a Mortal's Journey to Immortality" and "Ling Cage", both from China Literature.
Even $TENCENT(00700)$ ’s top animated IPs mostly come from them. If you still believe in the future of Chinese animation, you can’t ignore China Literature，they’re literally the only player that connects the full IP chain: from web novels to comics, animations, dramas, and games.
Get this: over 60% of the top 20 TV dramas are based on their IPs, and over 80% of the top 20 animations too. So here’s the question: Is animation the best way to go global with culture? Or is it gaming? Either way, China Literature’s IP moat is seriously impressive.
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