HK Stock Market Move | CHINA LIT (00772) soars nearly 7% during trading, New short play from Yuewen triggers May Day short play boom.

CHINA LIT (00772) rose nearly 7% during trading, as of the time of writing, it was up 5.58% at HK$26.88, with a trading volume of HK$108 million. On the news front, according to Securities Daily, during the "May Day" holiday, the short drama market saw strong performance, with the hot new work "Mother Relying on Her Son's Nobility to Gain the Royal Favor" from China Literature's short drama boutique experiencing a surge in popularity. After going online, it surpassed the billion-view mark on major short video platforms within 24 hours, with the platform's popularity exceeding 80 million. CMSC pointed out that CHINA LIT's short drama and other new business developments have shown rapid growth, significantly improving the efficiency of producing blockbuster works, and the commercial value of IP has continuous room for growth. They maintain a "buy" rating for CHINA LIT. Changjiang, on the other hand, stated that China Literature's content reserves continue to expand, with further enhancement of IP conversion and commercialization capabilities; AI is accelerating the penetration of content production and overseas distribution, further driving efficiency optimization and overseas growth.