SHANGHAI, China, April 14 /Xinhua-PRNewswire-FirstCall/ -- Giant Interactive Group Inc. (NYSE: GA) (“Giant” or “the Company”), one of China’s leading online game developers and operators, announced today that it has opened a new research and development facility in Chengdu, Sichuan Province.
Mr. Yuzhu Shi, Giant’s Chairman and CEO, commented, “Research and development (“R&D”) has always been the central focus of our Company given our unique game development model, which allows for continuous R&D enhancement of our games based on feedback from players. It is through our continued R&D effort that we can continue to deploy successful games and minimize our hit-or-miss risks. We currently have over 500 R&D specialists at our Shanghai R&D center, and plan to increase this number to over 800 by the end of 2008. We look forward to further leveraging our R&D strengths to continue creating the most compelling and socially interactive products for our users.”
Mr. Hui Yuan, Giant’s Vice President of R&D, commented, “The Southwest region has among the highest concentration of online game R&D talent in China. With this new facility in Chengdu, one of the largest cities in the Southwest, we plan to attract the top local game designers and engineers to join our team, thus reinforcing our R&D strength. We are excited by the addition of the Chengdu facility, which will specialize in cutting edge 3D graphics engines and technologies, to complement our existing 2D and 2.5D graphics teams.”
“In order to secure the top R&D talent, Giant offers competitive compensation packages, in depth training programs, and best practice project management to increase productivity and efficiency. Giant has also set up special communication protocols between its new Chengdu R&D facility and its Shanghai R&D center in order to increase synergies and cooperation across its overall R&D platform. The opening of the Chengdu R&D facility is the latest in a long line of technology based initiatives at Giant. Giant already has one of the most advanced server technologies in the Chinese online game industry, a proprietary technology which allows for 1 million concurrent users to play together in a single shard in our new game, Giant Online. And, as previously announced, we recently partnered with Huawei Technologies to research additional advancements in server platforms. Our focus on and commitment to technology is clear, and moving forward, R&D will continue to be the key driver for our game advancement.”
About Giant
Giant is one of China’s leading online game developers and operators in terms of revenues, focusing on massively multiplayer online role playing games. Giant’s game, ZT Online, was voted the most popular online game in China in 2006 according to the International Data Corporation. The Company’s second game, Giant Online, entered into open beta testing on March 28, 2008. Giant has two additional online games that it intends to commercially launch, including King of Kings III and Empire of Sports. Giant has built a nationwide distribution network to sell the prepaid game cards and game points required to play its games, which as of December 31, 2007 consisted of over 200 distributors, and reached over 116,500 retail outlets, including internet cafes, software stores, supermarkets, bookstores, newspaper stands, and convenience stores located throughout China. For more information, please visit Giant Interactive Group on the web at http://www.giantig.com .
Safe Harbor Statement
This release contains forward-looking statements within the meaning of the Securities Act of 1933 and the Securities Exchange Act of 1934 relating to, among other things, Giant’s ability to utilize and/or grow its new or existing R&D facilities in order to improve performance of its technologies and services. Giant may be unsuccessful in utilizing and/or growing its new or existing R&D facilities. Even if Giant is successful in doing so, it may not improve its technologies and services effectively through utilization of its R&D facilities. Giant’s industry is highly competitive and it faces a number of risks including those outlined under “Risk Factors” beginning on page 12 of Giant’s prospectus filed with the Securities and Exchange Commission on November 1, 2007. Giant undertakes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise, after the date of this press release. Such information speaks only as of the date of this release.
For more information, please contact:
Investor Contact:
Eric He, CFO
Giant Interactive Group Inc.
Tel: +86-21-6451-5001
Investor Relations (US):
Mahmoud Siddig
Taylor Rafferty
Tel: +1-212-889-4350
Investor Relations (HK):
Ruby Yim
Taylor Rafferty
Tel: +852-3196-3712
Media Contact:
John Dudzinzky
Taylor Rafferty
Tel: +1-212-889-4350
