Elevator Pitch
I maintain a Neutral rating on Hong Kong-listed Chinese online literature platform operator China Literature Limited (OTCPK:CHLLF) (OTC:CHLLY) [772 HK].
This is an update of my initiation article on China Literature published on April 6, 2020. China Literature's share price has increased by +69% from HK$31.05 as of April 3, 2020 to HK$52.50 as of June 19, 2020 since my initiation. China Literature trades at 35.3 times consensus forward next twelve months' P/E and 4.6 times consensus forward next twelve months' enterprise value-to-revenue.
Mr. Cheng Wu, Tencent Holdings' (