---
title: "China Literature invests 400 million yuan to acquire additional shares in Yihua Kaitan, whose key game has been in development for seven years"
type: "Topics"
locale: "en"
url: "https://longbridge.com/en/topics/41425960.md"
description: "China Literature Group announced yesterday (June 3) that it will acquire a 28.22% stake in Wuhan Yihua Kaitian from a Tencent-affiliated company for approximately 400 million yuan. After the acquisition, Tencent will no longer directly hold shares in Yihua Kaitian, while China Literature Group will hold a total of 59.7% of Yihua Kaitian's shares, becoming its major shareholder. The announcement shows that Yihua Kaitian's company valuation is approximately 1.31 billion yuan. However, when the company received hundreds of millions of yuan in financing in 2022, its valuation was nearly 2.5 billion yuan. The announcement also mentioned..."
datetime: "2026-06-03T11:14:56.000Z"
locales:
  - [en](https://longbridge.com/en/topics/41425960.md)
  - [zh-CN](https://longbridge.com/zh-CN/topics/41425960.md)
  - [zh-HK](https://longbridge.com/zh-HK/topics/41425960.md)
author: "[所视sight](https://longbridge.com/en/profiles/26711722.md)"
---

# China Literature invests 400 million yuan to acquire additional shares in Yihua Kaitan, whose key game has been in development for seven years

China Literature Group announced yesterday (June 3rd) that it will acquire a 28.22% stake in Wuhan Yihua Kaitian from a Tencent-affiliated company for approximately 400 million yuan. Upon completion of the acquisition, Tencent will no longer directly hold shares in Yihua Kaitian, while China Literature Group will hold a total of 59.7% of Yihua Kaitian's equity, becoming its major shareholder.

![Image](https://pub.pbkrs.com/uploads/2026/7d7aef2ec191de53ae1ec4f35317e6f2?x-oss-process=style/lg)

The announcement shows that Yihua Kaitian's company valuation is approximately 1.31 billion yuan. However, when it secured hundreds of millions in financing back in 2022, the company's valuation was as high as nearly 2.5 billion yuan.

The announcement also mentioned that besides holding the core IP "Ling Cage" with over 10 billion cumulative views, Yihua Kaitian is developing an original fantasy-themed IP, which will be launched simultaneously in the form of high-quality animation and narrative games.

This original IP should refer to "Fan Ying". Its game project was initially established in 2019, and during its seven years of development, it has seen at least three different producers. The current "Fan Ying" game leans more towards an ACT (action) gameplay style. It revealed a new PV last October and conducted a test last November. Its IP animation also revealed a concept PV last August.

![Image](https://pub.pbkrs.com/uploads/2026/6f8b0671ba724ab1b70fdabd44a1c59e?x-oss-process=style/lg)

![Image](https://pub.pbkrs.com/uploads/2026/d837e7a5a6ff976bdaa57ff069793e23?x-oss-process=style/lg)

Regarding this transaction, China Literature Group stated:

"The strategic synergy between the target company and our group is reflected in their vertically complementary capabilities within the IP value chain. As an industry bellwether with a vertically integrated IP ecosystem, our group has established a leading position through its comprehensive IP operations covering various forms (such as premium web literature, comics, animation, TV series, web series, films, online games, short dramas, AI comic series, and IP derivatives). The target company complements this ecosystem with its cutting-edge expertise in long-form animation production, equipped with a future-oriented, self-developed new animation workflow platform. This platform integrates the advantages of traditional production processes, along with a comprehensive development process and a dedicated team for developing large-scale narrative games. This synergy will strengthen our group's development in all-around IP operational capabilities, covering all stages from incubation to visualization and commercialization. By fostering strategic partnerships, this collaboration will enhance China Literature's competitive advantage to build a leading IP industry value chain."

"Furthermore, our group will leverage its resource advantages to explore deeper collaboration opportunities with the target company's high-quality IPs, striving to build 'Ling Cage' and other original IPs into globally renowned sci-fi IPs, aiming to maximize their IP value."

$CHINA LIT(00772.HK)

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