SHANGHAI, China, April 23 /Xinhua-PRNewswire/ -- The9 Limited (Nasdaq:
NCTY) ("The9"), a leading online game operator in China, today announced an
equity investment in G10 Entertainment Corp. ("G10"), a leading game
developer in Korea. Under the terms of the investment, The9 has acquired a
minority stake in G10 in exchange for a cash investment of approximately
US$38 million.
Mr. Jun Zhu, The9's Chairman and Chief Executive Officer, commented:
"G10 Entertainment is a leading game developer, especially in the advanced
casual game arena. Its Audition game franchise enjoys high popularity and a
strong user base in China. The9's equity investment in G10 will strengthen
the existing partnership between the two companies and further motivate G10
to provide the best support to The9's operation of Audition 2 in mainland
China."
Mr. Kee Young Kim, the Chief Executive Officer of G10, said, "We are
very excited that The9 becomes one of our key investors as we see this
equity infusion as a recognition of G10's achievements in developing games
and creating entertainment content. The9's outstanding game operation
expertise will be a huge advantage in bringing G10's products to the
growing Chinese online game market. We also look forward to learning from
The9's valuable experience gleaned from the day-to-day operation in the
local market, and integrating the ideas and suggestions from The9 into our
game development process. Our people and teams at G10 are empowered to
continue delivering high-quality game products and providing our best
support to Audition 2, our prize product to be operated by The9 in mainland
China."
About The9 Limited
The9 Limited is a leading online game operator in China. The9's
business is primarily focused on operating and developing high-quality
games for the Chinese online game market. The9 directly or through
affiliates operates licensed MMORPGs, consisting of MU(R), Blizzard
Entertainment(R)'s World of Warcraft(R), Soul of The Ultimate Nation(TM),
Granado Espada, and its first proprietary MMORPG, Joyful Journey West(TM),
in mainland China. It has also obtained exclusive licenses to operate
additional MMORPGs and advanced casual games in mainland China, including
Hellgate: London, Ragnarok Online 2, Emil Chronicle Online, Huxley(TM),
FIFA Online 2, Audition 2, Field of Honor and Audition. In addition, The9
is also developing various proprietary games, including Warriors of Fate
Online(TM) and Fantastic Melody Online(TM).
About G10 Entertainment
G10 Entertainment Corp. is a leading developer of interactive,
community- based online games in Korea. G10's online games provide users
with an online platform for self-expression and social interaction through
playing captivating and entertaining games. G10's strong creative game
design, development expertise and experience in virtual community
management have enabled it to frequently introduce new features and
functionality that improve the appeal of its virtual community and enhance
user experience. G10 directly or through its subsidiaries develops a number
of popular online games, including Audition and Audition 2. It currently
has eight other online games in development that it plans to release in the
near future.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates,"
"future," "intends," "plans," "believes," "estimates" and similar
statements. Among other things, the business outlook and quotations from
management in this press release contain forward-looking statements. The9
may also make written or oral forward-looking statements in its periodic
reports to the U.S. Securities and Exchange Commission on Forms 20-F and
6-K, etc., in its annual report to shareholders, in press releases and
other written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not historical
facts, including statements about The9's beliefs and expectations, are
forward-looking statements. Forward-looking statements involve inherent
risks and uncertainties. A number of important factors could cause actual
results to differ materially from those contained in any forward-looking
statement. Potential risks and uncertainties include, but are not limited
to, The9's limited operating history as an online game operator, political
and economic policies of the Chinese government, the laws and regulations
governing the online game industry, information disseminated over the
Internet and Internet content providers in China, intensified government
regulation of Internet cafes, The9's ability to retain existing players and
attract new players, license, develop or acquire additional online games
that are appealing to users, anticipate and adapt to changing consumer
preferences and respond to competitive market conditions, and other risks
and uncertainties outlined in The9's filings with the U.S. Securities and
Exchange Commission, including its annual reports on Form 20-F. The9 does
not undertake any obligation to update any forward-looking statement,
except as required under applicable law.
For further information, please contact:
Ms. Dahlia Wei
Senior Manager, Investor Relations
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Web: http://www.corp.the9.com
SOURCE The9 Limited
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Related links:
http://www.corp.the9.com
CONTACT:
Ms. Dahlia Wei, Senior Manager of Investor
Relations of The9 Limited, +86-21-5172-9990, or IR@corp.the9.com
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