Chinese Real-Estate Firm Establishes Mobile Gaming Subsidiary

Shenzhen Stock Exchange, 8/07/13

Beijing-based real estate company Zhonghong Holding (000979.SZ) has announced plans to form a partnership with IT veteran Tang Hangsheng to invest RMB 100 mln in establishing a new subsidiary, tentatively called "Hangzhou Weizhen Jianghu." The new subsidiary will be primarily focused on mobile game development, as well as marketing and promotion. In the next three years, based on the company's development, Zhonghong Holding will invest approximately RMB 500 mln in mobile game development, team integration and acquisition, copyright purchasing, and partnerships with telecoms operators.

Tang Hangsheng has fifteen years of work and management experience in the IT industry. The other members of Tang's founding team also have long-term experience in game development.

Keywords: Tang Hangsheng Zhonghong 000979.SZ Weizhen Jianghu mobile gaming wireless

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