SHANGHAI, China, Jan. 19 /Xinhua-PRNewswire/ -- The9 Limited (Nasdaq: NCTY) (“The9”), a leading online game operator in China, announced today that the Board of The9 has accepted Ms. Hannah Lee’s resignation as Senior Vice President and Chief Financial Officer effective as of the end of February 2008 to pursue other interests.
Ms. Lee said, “It has been my pleasure to serve as the Chief Financial Officer of The9 for over four years. I believe the company remains well-positioned in the growing online game industry. With its rich and diversified game portfolio, I believe The9 will continue to enjoy long-term growth and deliver sustained growth for its employees and shareholders.”
The9 has begun a search for a new chief financial officer, and expects to announce the appointment of an acting chief financial officer prior to Ms. Lee’s departure.
Jun Zhu, Chairman and Chief Executive Officer of The9 said, “Hannah has been with us since before The9 went public in 2004. Over the years, she has played a vital role in transforming our company into a highly regarded US-listed public company with substantially improved financial reporting and internal control systems. We want to thank Hannah for her many contributions to The9 and wish her all the best in her future endeavors.”
About The9 Limited
The9 Limited is a leading online game operator in China. The9’s business is primarily focused on operating and developing high-quality games for the Chinese online game market. The9 directly or through affiliates operates licensed MMORPGs, consisting of MU(R), Blizzard Entertainment(R)’s World of Warcraft(R), Soul of The Ultimate Nation(TM), Granado Espada, and its first proprietary MMORPG, Joyful Journey West(TM), in mainland China. It has also obtained exclusive licenses to operate additional MMORPGs and advanced casual games in mainland China, including Guild Wars, Hellgate: London, Ragnarok Online 2, Emil Chronicle Online, Huxley(TM), FIFA Online 2, Audition 2, Field of Honor and Audition. In addition, The9 is also developing two proprietary MMORPG games, Fantastic Melody Online(TM) and Warriors of Fate Online.
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” and similar statements. Among other things, the business outlook and quotations from management in this press release contain forward-looking statements. The9 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission on Forms 20-F and 6-K, etc., 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 The9’s beliefs and expectations, are forward-looking statements. Forward-looking statements involve inherent risks and uncertainties. A number of important factors could cause actual results to differ materially from those contained in any forward-looking statement. Potential risks and uncertainties include, but are not limited to, The9’s limited operating history as an online game operator, political and economic policies of the Chinese government, the laws and regulations governing the online game industry, information disseminated over the Internet and Internet content providers in China, intensified government regulation of Internet cafes, The9’s ability to retain existing players and attract new players, license, develop or acquire additional online games that are appealing to users, anticipate and adapt to changing consumer preferences and respond to competitive market conditions, and other risks and uncertainties outlined in The9’s filings with the U.S. Securities and Exchange Commission, including its annual reports on Form 20-F. The9 does not undertake any obligation to update any forward-looking statement, except as required under applicable law.
