New Sea Union Subsidiary Invests in Mobile Game Operator

Yangcheng Evening News, 11/26/13

Chinese telecom equipment provider New Sea Union Telecom Technology (002089.SZ) has announced that its wholly-owned subsidiary, IT service outsourcing provider BroadenGate Technologies, will invest RMB 5 mln in mobile game operator Zhuowei Information Technology. The investment will give BroadenGate a 40% stake in Zhuowei, placing BroadenGate alongside existing stakeholder Chen Tong as the company's largest investor.

BroadenGate's RMB 5 mln investment will be paid over two installments, one in 2013 (RMB 3 mln) and one in 2014 (RMB 2 mln). In return, Zhuowei has guaranteed that it will generate net profits of RMB 3 mln, RMB 7 mln, and RMB 15 mln in 2014, 2015, and 2016, respectively.

Founded on August 1, 2013 with registered capital of RMB 1 mln, Zhuowei Information Technology primarily acts as an agent for mobile game developers, overseeing domestic and international advertising and operation of mobile games. At present, the company has licensed the rights for two Chinese mobile games.

Editor's Note: For more background on this topic, please see "New Sea Union to Develop Mobile Game" MD 7/09/13 issue.

Keywords: Zhuowei Chen Tong investment wireless 002089.SZ New Sea Union mobile gaming BroadenGate

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