China internet resources--Chinese online games provider sees income triple
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China internet resources--Chinese online games provider sees income triple |
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triple
Chinese online games provider sees income triple Shanda Interactive Entertainment Ltd., China's largest provider of online games, Friday said its 2004 fourth quarter net income more than tripled compared with the previous year and said more growth is expected in the coming year. Shanda's fourth quarter net income was 231.4 million renminbi (US$27.9 million as of Dec. 31, 2004, the last day of the period being reported), up 239 percent from the same period one year earlier, when the company's net income was 68.3 million renminbi. The company's fourth quarter revenue was also sharply higher, up 133 percent to 453.1 million renminbi from 194.2 million renminbi. For 2004, Shanda reported annual net income of 609.5 million renminbi, up 123 percent from the previous year. Revenue for 2004 was 1.4 billion renminbi, up 116 percent from 2003, the company said. "2004 laid a very good foundation for future growth in 2005 and beyond," Chen Tianqiao, Shanda's chairman and CEO, told financial analysts during a conference call. China's online gaming industry now attracts a broader segment of users, including women and white-collar professionals, Chen said. In addition, for the first time a greater percentage of users are playing games from home than from Internet cafes, he said, noting that some users are playing online games at home and at Internet cafes. Shanda had an average of 1.2 million concurrent users during 2004, Chen said. In 2005, Shanda hopes to tap into growing demand for online games among home users and has high expectations for a set-top box that the company plans to introduce, Chen said. This set-top box, which Shanda is developing with Intel Corp. and other partners, will have the basic functions of a PC as well as software that connects users to Shanda's online game platform, Chen said. The set-top box will connect to the Internet over a broadband connection and use a user's TV set as the display, he said, without saying when the company expects the set-top box to be introduced. "That will let more users access interactive entertainment offerings," Chen said. Posted February 4, 2005 04:29 PM |
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