[photopress:it_zt_online.jpg,full,alignright]Giant Interactive Group, a New York-listed Chinese on-line gaming giant, reported RMB1.136 billion ($155.8 million) in net income for 2007, a 364.5% increase from the previous year.
The company said that on-line game net revenues for the fiscal year, mainly from the popular ZT Online game, stood at RMB1.52 billion.
Giant Interactive launched its first game, ZT Online, in January 2006. It is free to play but requires players to spend money to buy ‘equipment’, including weapons and armor.
Shi Yuzhu, the company’s chief executive officer and board chairman, said in the financial report that ‘2007 was a successful year for Giant, underscored by our IPO on the NYSE and significant top- and bottom-line growth.
‘We forbid minors to play our games in order to fulfill our company’s social responsibility, which at the same time, leads to a high average spending level per user.’
A company spokeswoman said ZT Online witnessed a climax of 1.07 million players playing at the same time, a commercial success only World of Warcraft and Fantasy Westward Journey had achieved before.
According to CCID Consulting, a market consultant, the on-line game market in China grew by 74.6% year on year to RMB11.4 billion in 2007. It is expected to reach RMB18.7 billion in 2008.
Source: China View
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