Rice to buy small game website 7k7k parent company 8.59% Equity

November 20 Morning News, the children's entertainment media company today released the third http://www.aliyun.com/zixun/aggregation/11996.html "> Quarterly earnings, The report disclosed that it invested $6.205 million in cash in Gamespedia about 8.59% per cent of the shares, Gamespedia in China to operate the 7k7k.com.

Earnings disclosed, the investment agreement was reached in September 2012, Rice Rice in September 2012 has paid 3 million U.S. dollars, the remaining investment in October has been paid.

Data show that the 7k7k Games World was founded on May 1, 2003, the location of casual gaming sites, collecting internet a wide range of small game resources. Baidu Encyclopedia on 7K7K data show that in 7k7k site users, primary and secondary students accounted for 10%, white-collar users and approximate population accounted for more than 5%, become the main site of the public, male and female sex ratio of 58% to 42%.

At present, rice Rice has a total of 119 million dollars in cash and cash equivalents. And in the third quarter repurchase about 193,191 shares ads. As of September 30, 2012, the rice company has bought up about 373,605 shares of ads, the price of which is about $4.2.

Rice reported that the third quarter of clean rice net revenue reached 11.8 million U.S. dollars, the chain growth of 13%, year-on-year decline of 6.7%; non-US General Accounting Standards (NON-GAAP) net profit of 2.4 million U.S. dollars, the chain fell 37%, year-on-year decline of 52%.

Rice will continue to strengthen its supply of mobile, online and offline businesses and unique content to further consolidate brand value and enrich revenue streams, said Wang Haibing, co-founder and CEO of Rice Co.