Ourgame Applies for Domestic Listing
Oriental Morning Post, 10/12/12
Beijing-based online game operator Globallink Computer Technology (Ourgame) has recently begun an official application for an A-shares IPO listing, after first announcing its intention to list in 2007.
Ourgame currently operates more than 200 games and nearly 100 Flash mini-games.
Previously, South Korean internet company NHN and SeaRainbow Holding Corporation (000503.SZ) each held 50% of Ourgame. On December 8, 2010, Beijing-based Wei De Wo Fu Investment Advisors purchased SeaRainbow and NHN's shares in the company, and currently holds 100% of Ourgame.
SeaRainbow annual reports indicate that Ourgame had net profits of RMB 30.32 mln in 2002, increasing to 44.41 mln in 2003, for a total of 51.14% of SeaRainbow's net profits for the year. After attempts to operate MMORPGs proved unsuccessful, however, Ourgame reported net losses of RMB 14.3 mln in 2009, and 18.06 mln in 2010.
CEO Wu Guoliang predicted that Ourgame will see nearly 50% growth in operating revenues for 2012. Wu added that Globallink will enter the Taiwan market through a licensing agreement this year.
Editor's Note: For more information on this topic, please see "Ourgame Postpones Listing Plan," MD 1/15/09 issue.
Keywords: Ourgame Wu Guoliang Internet IPO 000503.SZ Searainbow Wei De Wo Fu Globallink online gaming A-share
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