Ultrapower Takes Stake in Gaming Firm

Shenzhen Stock Exchange, 9/27/13

Beijing-based IT solutions provider Ultrapower Software (300002.SZ) has announced that the company will spend RMB 200 mln to take a 20% stake in browser and mobile game developer and operator Beijing Zhongqing Longtu Network Technology. The transaction was carried out through new share issuance from Zhongqing Longtu.

Zhongqing Longtu recorded revenues of RMB 51.41 mln and RMB 38.39 mln in 2012 and H1 2013, respectively. Corresponding profit for the same periods was RMB 25.80 mln and RMB 13.65 mln. As part of the investment, Zhongqing Longtu has guaranteed that profit in 2013, 2014, and 2015 will be no less than RMB 60 mln, RMB 90 mln, and RMB 120 mln, respectively.

Keywords: online gaming M&A Internet investment profit Ultrapower 300002.SZ Zhongqing Longtu mobile gaming revenue

Feedback

Sending

Disclaimer

The information contained in this newsletter is based upon sources that Marbridge Consulting believes to be reliable, and we have made every effort to translate the original articles or article excerpts as faithfully as possible. However, Marbridge Consulting makes no warranty of and assumes no legal responsibility for the accuracy of either the original source material or the English language translations.

Marbridge Daily