CDC Games Sees Strong Daily Revenue Rebound Post Earthquake
28 May 2008 - 2:27AM
Business Wire
CDC Games, a business unit of CDC Corporation (NASDAQ: CHINA) and
pioneer of the "free-to-play, pay for merchandise" model for online
games in China, announced today that revenues since May 21, 2008
represent a strong rebound despite, not only, the devastating
earthquake that occurred in China during the week of May 12, 2008,
but also, our resulting suspension of game service from May 19,
2008 through May 21, 2008. In fact, on May 24, 2008 daily revenues
for CDC Games were 1.3 million RMB, or approximately (U.S.)
$187,000. In addition, the company has seen strong revenue growth
from Shaiya, a massively multiplayer online role playing fantasy
game (MMORPG) launched by CDC Games in December 2006. "We are very
pleased to achieve very strong daily revenue performance for
Shaiya, as well as our daily total revenue for CDC Games following
the tragic earthquake in China," said John Huen, chief operating
officer of CDC Games. "We believe that we have been rapidly
building momentum during the last three months. We look to continue
building the market momentum of our established games and intend to
continue to execute on our diversification plan for the second half
of 2008, which includes launching exciting games such as Dragonsky,
Life Online, Digimon and casual games, such as Come on Baby." About
CDC Games CDC Games is one of the market leaders of online and
mobile games in China with more than 140 million registered users.
The company pioneered the "free-to-play, pay-for-merchandise"
online games model in China with Yulgang and launched the first
free-to-play, pay for merchandise FPS (first person shooter) game
in China with Special Force. Launched in July 2007, Special Force
has consistently ranked in the Top 10 downloaded games in China and
becoming the top revenue producer for CDC Games. Currently, CDC
Games offers six popular MMO online games in China that include:
Special Force, Yulgang, Shaiya, Mir III, Shine and Eve Online. In
March 2007, the company announced the formation of CDC Games Studio
to establish strategic relationships with selected games
development partners to accelerate the development of new, original
online games for China and other targeted global geographies.
Through its CDC Games International (CGI) subsidiary, the company
launched a long-term strategy to be a global publisher of MMO
games. As part of this long term strategy, CDC Games launched the
www.12FootTall.com portal to showcase online games and related
content in North America. For more information on CDC Games, visit:
www.cdcgames.net. About CDC Corporation The CDC family of companies
includes CDC Software focused on enterprise software applications
and services, CDC Games focused on online games, and China.com
focused on portals for the greater China markets. For more
information about CDC Corporation (NASDAQ: CHINA), please visit
www.cdccorporation.net. Cautionary Note Regarding Forward-Looking
Statements This press release includes "forward-looking statements"
within the meaning of the United States Private Securities
Litigation Reform Act of 1995. These forward-looking statements
include statements regarding our beliefs regarding the momentum in
our games business and the continuation thereof, our expectation
regarding our continuation of our diversification strategy in 2008
and our expectations with respect to launching additional games and
the timing thereof, our belief regarding our foundation for future
success throughout the year, our beliefs regarding the performance
of Shaiya and other games and the consistency of our business, our
beliefs regarding our competitive position, our beliefs regarding
the use of total unique game players, average daily revenue,
average play time, average concurrent user base and peak concurrent
user base growth as measurement of success in our early-stage
objectives, our expectations regarding any game�s growth, our
ability of CDC Games to diversify and continue diversifying its
revenues, successfully measure, choose, collect data regarding and
evaluate key performance metrics for our games, the ability to
successfully grow in key performance areas, diversify our revenue
and achieve or maintain quarter over quarter revenue growth, the
ability to upgrade and release new games and newer versions of
existing games and the timeliness thereof, our belief regarding
growth trends for our new and existing games, our ability to
complete successful open and closed beta tests in the future, our
expectations regarding future financial performance, and other
statements that are not historical, the achievement of which
involve risks, uncertainties and assumptions. If any such risks or
uncertainties materialize or if any of the assumptions proves
incorrect, our results could differ materially from the results
expressed or implied by the forward-looking statements we make.
These statements are based on management's current expectations and
are subject to risks and uncertainties and changes in
circumstances. There are important factors that could cause actual
results to differ materially from those anticipated in the forward
looking statements, including the following: (a) the ability to
realize strategic objectives by taking advantage of market
opportunities; (b) the ability to successfully develop, license and
market first person shooter and other games; (c) the future growth
of the online games industry in the China market and other markets
throughout the world; (d) the possibility of launch and development
delays; (e) the development of competing products and technology;
(f) the continued popularity and player acceptance of Yulgang,
Shaiya, Special Force and our other games; and (g) the continuation
of our contractual and other partners to perform their obligations
under agreements with us. Further information on risks or other
factors that could cause results to differ is detailed in filings
or submissions with the United States Securities and Exchange
Commission made by CDC Corporation in its Annual Report for the
year ended December 31, 2006 on Form 20-F filed on July 2, 2007.
All forward-looking statements included in this press release are
based upon information available to management as of the date of
the press release, and you are cautioned not to place undue
reliance on any forward looking statements which speak only as of
the date of this press release. The company assumes no obligation
to update or alter the forward looking statements whether as a
result of new information, future events or otherwise.
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