Shanda Game CEO Yu says it will focus on long-term growth

Beijing time September 26 morning news, according to foreign media reported today, Shanda Games (nasdaqgs:game) CEO Yu said will focus on China's online gaming industry's long-term growth. The following is an excerpt from the article: this Friday, Shanda Interactive (Nasdaqgs:snda) game business Shanda Games in the Nasdaq market IPO, the issue price of 12.50 U.S. dollars, the first day of 10.75 U.S. dollars.　　The IPO is up to $1.04 billion trillion, the largest IPO in the U.S. stock market since the year. "We are very pleased that this IPO will be a success," Yu said in a media interview. We will focus on the long-term development of our business and will implement this strategy effectively. "Shanda Games and grand interaction this time total sales of 83.5 million ADR (US depository voucher), the stock price range of 10.50 U.S. dollars to 12.50 U.S. dollars, and eventually the ceiling of 12.50 U.S. dollars issued.　　Goldman Sachs and JPMorgan Chase are the underwriters of the IPO. China's market Yu says China's online gaming market will grow at a rate of 18% per year. At present, there are 31 games in Shanda Games operating, and 24 games will be launched in the future. "We are the largest company in terms of the number of games that will be released," she said. "With the rapid growth of the internet in China, many investors are turning their eyes to Chinese online gaming companies, and Shanda Games meet the needs of investors." China's online gaming market grew 77% last year to $2.7 billion trillion, according to IDC, a market-research firm.　　Analysts on average expect the Chinese economy to grow 8.3% this year, with an increase of 9.5% next year, according to a Bloomberg survey. In April this year, Sohu (Nasdaqgs:sohu) also split its online gaming business (nasdaqgs:cyou) into the market. The IPO is 60 million dollars and has doubled since its listing.　　Grand Games also want to achieve the same success as the tour. Competitive factors by virtue of "blood legend" and "Eternal Tower" and other popular games, Shanda game in the first half of this year's profit growth of 75%.　　The company will also speed up the development of new products and use outside developers to launch more games to deal with the competition of Nasdaqgs:ntes and other competitors. Wen Tianli, analyst at MainFirst Securities Hong Kong Limited, said: "China's game developers are growing, which will benefit Shanda and other gaming publishers." He added that rivals such as NetEase and Cruise were more reliant on independent research and development.　　Wen Tianli give a grand interactive "buy" rating.　　The IPO prospectus shows that the company achieved a profit of 671.2 million yuan (about 98.3 million U.S. dollars) in the first half of last year, 382.8 million yuan in the first half, and 2.03 billion yuan in the half-year, and 43% per cent year-on-year. The Grand Interactive 2008 annual revenue of 96% from the Shanda game, the company said that in the future will focus on the development of other network services. This June, the Grand Interactive also held the Chinese network music provider Hua Nasdaq:hray century. The other business of Shanda Interactive includes network literature, which occupies more than 80% of the Chinese network literature market. (