Shanda's CFO says it will aggressively buy games teams and entertainment platforms

Beijing time December 2 afternoon news, according to foreign media reports, Shanda Interactive (hereinafter referred to as "grand") CFO Wu Shao Monday revealed that will buy more digital entertainment platform and game content development team to achieve a more diversified revenue source. Wu Shao, in a conference call after the Monday Grand announcement, said the company would aggressively use its $1.6 billion trillion cash reserves to launch acquisitions. Shanda in September will be its network game department Grand Game spin-off listing. "We will consider acquiring more game content developers and other digital entertainment content platforms," he said.　　"September, Shanda will be the core of the network game business spin-off, and through the IPO financing of 1 billion of dollars, the company is trying to transform from online gaming company to a comprehensive entertainment company." Shanda Games operating games include popular multiplayer online role-playing games (MMORPG), "The Blood Legend" and "The Eternal Tower", China's online game market competition is increasingly fierce, Shanda's competitors include NetEase, Tencent and swimming.　　The tour is the portal Sohu split listing game business. Singapore's government Investment Corporation (GIC) announced a 5.45 per cent acquisition of Shanda games in November. Shanda said last month that it would cooperate with Hunan Radio and television, jointly funded 600 million yuan (about 88 million U.S. dollars) to set up a joint venture company to engage in film production and distribution business.　　Shanda's friends of the century said last week that it would buy China's video-sharing website 酷6网 in the form of shares. Some analysts, including Alan Hellawell of Deutsche Bank, Allen Heraville that Shanda could still be the most important source of revenue. Shanda Tuesday reported the third quarter of fiscal year 2009 as at September 30, with net profit of 435 million yuan (about 64 million US dollars), up 29% per cent year-on-year. Revenue for 1.38 billion yuan, the same period last year, 936.5 million yuan. U.S. depository receipts for each share of the income is 6.18 yuan (about 0.90 U.S. dollars), more than analysts per share earnings of 0.88 U.S. dollars expected. Among them, the grand game of the third quarter for the grand contribution of 92% of the revenue.　　Boosted by the number of players, Shanda's revenue and gross profit margins rose 45%. China currently has more than 69 million online gamers, with data from Samsung Securities showing that as of 2011, China is expected to occupy more than 40% per cent of the global online gaming market, with a scale of more than $13 billion trillion. (Sean)