Chang You announced today that it had opened a U.S. subsidiary in Silicon Valley, planning to introduce its success of the online games in the Asian region to U.S. gamers.
Chang You announced to beta test online game "Tian Long Ba Bu Online" on November 5 in the U.S. market, which has been operating in the Asian region for more than three years, with more than 75 million registered users, while the number of online users reached 910,000 people. U.S. users can visit www.dragonoath.com to download "Tian Long Ba Bu Online" client.
Chang You net IPO (initial public offering) on the Nasdaq market in April, raising 120 million U.S. dollars. On IPO first day its share price soared 25 percent, and the current stock price is higher than the IPO price by 110%. Its net revenues of the third quarter of fiscal year 2009 reached a record high of 68.7 million U.S. dollars, representing a growth of 26% compared to a year earlier, representing an increase of 3% to last quarter.
Chang You network currently operates three online games, and plans to introduce at least another three, all of which games are going to be sold in the North American market.
In October, Chang You network was to become the first Chinese company allowed to use the world's best solution for game developers- CryENGINE3, and will update its product plans, providing users with a better gaming experience.
