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July 31, 2017

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Shanda Games posts record high earnings

SHANGHAI-BASED Shanda Games, China’s top game firm a decade ago, posted a record high annual profit as it tapped a booming mobile game business and new capital, Shanghai Daily learned during Chinajoy yesterday.

Shanda Games’ profit of 1.6 billion yuan (US$238 million) in 2016 was its highest since it was founded in 1999. The profit was boosted by the booming growth of mobile game titles like the Mir Mobile and the World of Legend Mobile.

“It’s the best time for us because we have top game titles, listed platform and overseas distribution channels,” Wang Ji, CEO of Shenzhen-listed Century Huatong, said during Chinajoy which ended yesterday.

Shanda Games’ six global research labs in Japan and South Korea contribute “US$100 to US$200 million” in overseas income annually, Wang said.

The company aims to develop top-level mobile games with strong intellectual property rights, which will create US$1 billion income annually.

By June, Century Huatong and related shareholders controlled 90.9 percent of Shanda Games which will probably be injected into the listed arm, said Wang.



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