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ChineseAll was subject to arbitration due to overdue overseas advertising fees, resulting in approximately 2.91 million yuan in bank deposits being frozen.
China Literature announced on September 24 that Hong Kong Pinzhong Interactive Network Marketing Technology Co., Ltd. has applied to the Beijing Arbitration Commission for arbitration, demanding China Literature and related entities pay approximately US$12.4426 million and RMB 159,100 for advertising promotion services for its overseas short-drama platform, FlareFlow. The arbitration has been accepted, and approximately RMB 2.91 million in bank deposits belonging to China Literature and its subsidiaries have been frozen.
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