C Y Foundation Announces 2009/10 Interim Results
Revenue Surges 62 times to HK$56 million
[21 December 2009, Hong Kong] Interactive digital entertainment company, C Y Foundation Group Limited (SEHK: 1182; “C Y Foundation” or the “Group”), today announced vastly improved revenue figures when it released its 2009/10 interim results for the period ended 30 September 2009.
With the development of an associated payment system, an expanded product platform and a points exchange platform, C Y Foundation has underscored its entry into the digital entertainment market. At the same time, the Group has raised its profile across China with the hosting of major e-sport tournaments.
The revenue of the Group amounted to HK$56 million, an increase 62 times over the HK$0.9 million recorded for the same period last year. By continuing to improve its operations across a range of business segments within the digital entertainment industry, the Group succeeded in trimming earlier losses. The net loss for 2009/10 amounted to HK$29.6 million compared to HK$62.8 million for the 2008/09 financial year. The decrease was mainly due to the profit contribution from Kingbox, foreign exchange gains and market value increase of its investment properties.
C Y Foundation’s product range has expanded rapidly. Currently, the Group offers products that cover the fields of casual games, arcade games and MMORPG. With the rapid growth of China's online games community, the launch of the Group’s product platform and the Korean developed MMORPG “Rohan”, for which the Group owns PRC licensing and distribution rights, has proven timely. Rohan is currently under technical localization and will be launched soon.
During the current reporting period, the Group successfully organized qualifier e-sport tournaments in the PRC and Hong Kong for the 2009 International E-sport Festival (“IEF”). The IEF event is a high profile international e-sport games event supported by the PRC and Korean governments.
Commenting on future development plans, Mr. Theodore Cheng Chee Tock, Chairman of C Y Foundation, said, “China's online gaming market will continue to grow rapidly. Our aim is to continue to enrich our product platform to meet the demands and expectations of young people and to leverage the valuable experience we are gaining from organizing e-sport tournaments in China. “
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About C Y Foundation Group Limited
C Y Foundation is an interactive digital entertainment company that provides quality entertainment across China. It is dedicated to organizing and running P2P tournaments for prizes throughout the mainland. The C Y Foundation is also set to provide a network of Internet cafés in China as well as a national electronic tournament platform to tap opportunities in the online tournament gaming market.
Website：www.cyfoundation.com
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Porda International (Finance) PR Group
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Ms. Abbey Zhao +852 3150 6752 abbey.zhao@pordafinance.com.hk
Fax: +852 3150 6728