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source: securities times

the topic #jinjiang collapsed# became a hot search.

on the afternoon of september 14, many netizens reported that jinjiang literature city had "collapsed."

subsequently, the related topic became the number one hot search on weibo.

in response to this, jinjiang literature city said that due to network operator line failure, users in some areas may not be able to log in, purchase or read normally. please hold off on reporting the error. the technology is currently being urgently coordinated and everyone will be notified as soon as it is restored.

according to tianyancha, jinjiang literature city was founded in 2003 and is one of the most influential female-oriented original literature websites in mainland china. it has more than 5.44 million online novels, nearly 10,000 novels have been published, more than 250,000 copyright works have been signed, and an average of more than 2,800 new copyrights are signed every month. there are more than 2.45 million registered authors, an average daily updated word count of more than 36 million, and the website has published more than 126.7 billion words in total.

the company to which jinjiang literature city belongs is beijing jinjiang original network technology co., ltd., which was established in 2006 and is a member of shenzhen litong industrial investment fund. it is located in beijing and is an enterprise mainly engaged in technology promotion and application services with a registered capital of rmb 11.1 million.

a 50% stake in beijing jinjiang original network technology co., ltd. is held by shanghai hongwen network technology co., ltd. (shanda literature), while jinjiang literature city founder, chairman and general manager huang yanming and founder and president liu xudong hold 30% and 20% of the shares respectively.

it is worth mentioning that in 2014, tencent literature acquired shanda literature and jointly established a new company, china literature group.

according to the 2023 annual report of china literature group, jinjiang literature city achieved a revenue of 1.416 billion yuan in 2023 and a profit of 456 million yuan during the year.

according to statistics from public information, from 2020 to 2023, the revenue of jinjiang literature city was 1.036 billion yuan, 1.25 billion yuan, 1.315 billion yuan and 1.416 billion yuan respectively, and the profit was 330 million yuan, 418 million yuan, 452 million yuan and 456 million yuan respectively. the revenue and profit have been in a state of continuous increase.