CDC Games Extends Contract with MGame to Operate Yulgang in China
08 April 2011 - 12:30AM
Business Wire
CDC Games, a business unit of CDC Corporation (NASDAQ: CHINA)
and a pioneer of the “free-to-play, pay for merchandise” model for
online games in China, announced today it has extended its contract
with MGame Corporation to operate Yulgang for an additional two
years in China.
Yulgang was the first free-to-play, pay for merchandise game in
China when it was commercially launched there in July 2005 and it
has continued to maintain lasting popularity in this highly
competitive games market. CDC Games expects revenue for Yulgang to
increase 27 percent in the fourth quarter of 2010, compared to the
third quarter in 2010.
“We are pleased to further strengthen our long-term strategic
partnership with MGame through this extension of Yulgang,” said
Simon Wong, CEO of CDC Games. “After six years of operating this
popular game, we are very pleased to see Yulgang maintaining a
strong base of loyal users. We feel this will continue as MGame
continues to deliver new features and content regularly to the
game. With another major update of Yulgang planned by the end of
the second quarter this year, we are excited to be offering China
gamers a fresh and exciting gaming experience with our flagship
game.”
“CDC Games has played an important role in helping MGame expand
successfully in China,” said Yi-Hyung Kweon, CEO of MGame
Corporation. “We look forward to working with CDC Games in
delivering exciting new updates to Yulgang and further increasing
the games’ popularity.”
About CDC Games
CDC Games is a leading online and web games company in
China. 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. For more
information on CDC Games, visit: www.cdcgames.net
About CDC Corporation
CDC Corporation is a China-based value-added operator of, and
growth investor in, hybrid (on premise and SaaS) enterprise
software, IT, and new media businesses. The company pursues two
value-added investment strategies. The first strategy includes
actively managing majority interests in its core portfolio of
hybrid enterprise software, IT services and New Media businesses,
adding value by driving operational excellence, top-line growth and
overall profitability. The second strategy includes identifying and
executing on opportunities to co-invest with leading venture
capital and private equity funds through minority interests in
fast growth companies in emerging markets related to CDC
Corporation’s core assets. This second strategy, which complements
the first, helps to mitigate risk and enhance deal flow for the
company. CDC Corporation expects to deliver superior returns and
additional value for its shareholders through these strategies, as
well as through its plans to declare and pay regular dividends in
the form of registered shares of its publicly listed subsidiaries
and other assets. 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 expectations for revenue from Yulgang, our
expectations regarding new features and content for this game and
the timing thereof, our beliefs about Yulgang’s features and the
potential market appeal and acceptance of Yulgang, and other
statements we make 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 develop and market
successfully Yulgang and other games and expansions; (c) the future
growth of the online games industry in China; (d) the possibility
of development delays; (e) the development of competing products
and technology; (f) the entry of new competitors and their
technological advances; and (g) the obligations of our contractual
partners to fulfill their obligations to us under agreements we may
have with them. 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, 2009 on Form 20-F filed on June 30, 2010. 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. Historical results are not
indicative of future performance.
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