Beijing Shengshu Technology Co., Ltd. announced that its AI video generation platform, Vidu, has secured the rights to adapt seven hit online novel IPs into concept shorts. Vidu will leverage AI technology to empower China's animation and short-form drama market, driving the adaptation of online literature into film and television into a new phase of development.

WeChat Literature Group's revenue in the first half decreased by nearly 20% year-on-year. Although net profit has stopped declining and rebounded, the outlook is far from optimistic. The number of paid reading users continues to decline, and users' willingness to pay is weak. The number of film and television IP adaptations by New Classics Media has decreased, leading to a significant drop in copyright income.