GUANGZHOU, China, July 18, 2013 (GLOBE NEWSWIRE) -- China Mobile Games and Entertainment Group Limited ("CMGE" or the "Company") (Nasdaq:CMGE), a leading mobile game company in China, today announced that it began open beta testing for its newest proprietary heavy MMORPG game War Valley on July 17, 2013. The Company has entered into agreements with China's six largest game platforms to distribute the game during open beta testing.
War Valley is a heavy MMORPG social game set against a backdrop of Western fantasy myth. Players can choose from four unique classes as they customize and develop their characters through exploration and raiding. Revenue is generated through the in-game sale of virtual items. Developed for both iOS and Android-based platforms, War Valley will be translated into multiple languages and published in Asia, North America and Europe upon its expected August 2013 global launch.
On the first day of its release, War Valley delivered the following financial and operational results:
|Recharge Amount||Over RMB200,000|
In May 2013, War Valley received both the Online Game Award for Excellence at the Global Mobile Games Congress and the Top 10 Mobile Game at the Global Mobile Internet Conference.
"I am extremely excited to announce the launch of War Valley, a game which I believe demonstrates our ability to design and develop exciting proprietary smartphone games with the potential to become major hits," commented Mr. San Liu, CMGE's Chief Operating Officer. "We continue to work diligently on our long-term strategy of focusing on developing and publishing smartphone games. We expect monthly revenue from War Valley to potentially exceed RMB10 million, and the initial results from its first day in operation are very encouraging. We anticipate that the release of solid proprietary games such as this will help drive our sustainable performance over the long run."
CMGE is a leading mobile game company in China with the largest market share among mobile game developers in terms of revenues in 2010, 2011 and 2012, according to Analysys International, an independent market research firm. CMGE has integrated capabilities in the development, operation, sale and distribution of mobile games in China. Its mobile handset design business complements its game development business as it pre-installs CMGE's mobile games and game platforms in the handsets it designs, and enhances CMGE's knowledge of user habits and preferences and industry trends. CMGE has a large and diversified portfolio of games for smartphones and feature phones, and has strong development capabilities, evidenced by the fact that it develops single-player games and social games for both types of handsets.
Safe Harbor Statement
This announcement contains forward-looking statements. These statements are made under the "safe harbor" provisions of the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates," "confident" and similar statements. CMGE may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Statements that are not historical facts, including statements about CMGE's beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of factors could cause actual results to differ materially from those contained in any forward-looking statement, including but not limited to the following: our growth strategies as well as our business plans; our future development, results of operations and financial condition; our ability to continue to develop new and attractive products and services; our ability to continue to develop new technologies or upgrade our existing technologies; our ability to attract and retain users and customers and further enhance our brand recognition; the expected growth of and trends in the mobile game industry in China; PRC governmental policies and regulations relating to the mobile game industry in China; competition in the mobile game industry; and general economic and business conditions in China. Further information regarding these and other risks is included in our registration statement on Form F-1 and other documents filed with the Securities and Exchange Commission. CMGE does not undertake any obligation to update any forward-looking statement, except as required under applicable law. All information provided in this press release and in the attachments is as of the date of the press release, and CMGE undertakes no duty to update such information, except as required under applicable law.
CONTACT: For investor and media inquiries, please contact: China Mobile Games and Entertainment Group Limited In China: Tel: +86-20-8561-3455 E-mail: firstname.lastname@example.org Christensen Christian Arnell Phone: +86-10-5826-4939 (China) E-mail: email@example.com In the U.S.: Christensen Linda Bergkamp Tel: +1 480 614 3000 E-mail: lbergkamp@ChristensenIR.comSource:China Mobile Games and Entertainment Group Limited