Game Firm Huanyue Expects 2010 Revenues of RMB 30-50 Mln
Duowan, 12/21/09
Sichuan-based online game developer and operator Huanyue Digital has gone into final closed beta on its self-developed 3D fantasy MMORPG, Legend of Sanctuary Online, which will go into official operation early next year. Huanyue CEO Wei Ning said the company had already put RMB 6 mln into development of the game, and that the company began to seek funding to support the game's development and operations as early as two years ago. In July, Huanyue reached a strategic cooperation agreement with the Chengxin Group, which invested in Huanyue in exchange for 70% equity. Wei Ning and Huanyue's management team hold the remaining 30%.
A spokesperson for Huanyue estimated that Legend of Sanctuary would see operating revenues of RMB 30 mln - 50 mln in 2010.
Although a specific figure was not revealed for the amount of investment from Chengxin, estimates based on the RMB 6 mln already spent on the game's development put the figure at approximately RMB 20 mln.
A spokesperson for the Chengxin Group said that the game will not be outsourced to a separate operator, but rather be directly operated by Huanyue. If operations proceed smoothly, Chengxin expects to make back its investment within two years. Chengxin Group chairman Hu Jianyong said the company has plans for a public listing for Huanyue.
Huanyue Digital has an R&D team of 100 people.
Keywords: Legend of Sanctuary Online Wei Ning Chengxin Group Hu Jianyong HR closed beta Internet funding Huanyue Digital MMORPG self-developed game 3D game online gaming IPO
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