Tencent Penguin Pictures (上海腾讯企鹅影视文化传播有限公司) was founded in 2015 to produce Tencent Video's original content: series, shows, documentaries, films and animation. It is attached to Tencent's streaming platform, led by Sun Zhonghuai.

In animation, Penguin Pictures acts as a producer: it commissions series from specialised studios such as Sparkly Key, B.CMAY Pictures and Build Dream, then streams them exclusively on Tencent Video. Soul Land, launched in 2018, became the most-watched donghua in the platform's history.

Its decisive advantage is access to the novels: Tencent controls China Literature, owner of Qidian. The biggest web novels, by Tang Jia San, Chen Dong or Er Gen, can thus move from page to screen within the same group.

Penguin Pictures established the model of the 3D xianxia donghua broadcast year-round, one episode a week, with ever-longer seasons. Adaptations stay faithful to hit novels, and budgets have kept rising, up to series with spectacular effects.