Game Operator Guangyu Huaxia to IPO in Q1 2010
Tencent Tech, 12/07/09
President Gao Suhua of Beijing-based online game developer and operator Guangyu Huaxia announced at the 7th annual China International Digital Content Expo, held over the last four days in Beijing, that his company will license the 3D fantasy MMORPG Myths & Heroes from developer Object Software. Guangyu Huaxia VP Gong Jiao said the company plans to operate other games as well, is stepping up its in-house R&D efforts, and may well IPO during Q1 2010.
"We had revenues of RMB 600 mln last year," Gong said, "and we grew a lot this year. Our revenues for Q1, Q2, and Q3 surpassed Perfect World (Nasdaq: PWRD) and Kingsoft (3888.HK). Based on our performance this year, we probably rank as the seventh-largest company in the online gaming market."
Gong said Guangyu Huaxia's efforts currently remain focused on operating its own games and the games it has licensed, but that the company could consider joint operation of "outstanding" games from other developers such as Kingsoft's JX Online 3 or Kylin's Chinggis Khan. Gong said that the company will not give much consideration to joint operation of its own games with other operators at present.
Keywords: Gong Jiao licensed game Guangyu Huaxia online gaming China International Digital Content Expo Gao Suhua Internet IPO MMORPG 3D game Myths & Heroes revenue Object Software
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