China CGame Announces Cooperation With Changzhou Government
CHANGZHOU, China, April 4, 2011 /PRNewswire-Asia/ -- China CGame, Inc. (Nasdaq: CCGM) (the "Company"), a self-developer of online games and a provider of high-end envelope architectural systems, today announced its cooperation with the Administrative Committee of the Jiangsu Wujin High Technology Industrial Development Zone, a branch of the Wujin district government in the city of Changzhou (the "Committee").
Pursuant to the agreement with the Committee, the Company has established a subsidiary named Changzhou ConnGame Network, Ltd in Changzhou and has agreed to relocate its headquarters to the city. The Committee agreed to make an equity investment of RMB 20 million in Changzhou ConnGame through the Changzhou Binhu Construction Development Group Co., a state-owned company controlled by the Administrative Committee. The Committee also agreed to use its best effort to assist the Changzhou ConnGame to obtain at least RMB 10 million in financial support for certain early stage operating expenses.
Mr. Steven Xing, Chief Executive Officer of the Company, said, "I am pleased to announce the relocation of our headquarters and our cooperation with the Changzhou government. Changzhou has an excellent environment for technology and creative industries, with over three hundred software and animation companies located in the Wujin district of the city. We are happy to join these companies, and look forward to cooperating with the local government to rebuild the value of China CGame and develop the high technology industrial base of Changzhou."
Mr. Fan Yanqing, the Party Secretary of Changzhou, said, "I am pleased to welcome China CGame to Changzhou. We believe that the company's listing on Nasdaq will boost the development of our local technology and creative industries, helping to attract both talent and capital to the city of Changzhou."About China CGame China CGame, Inc. is a self-developer of online games and provider of high-end building envelope architectural systems. Through its subsidiaries, Changzhou ConnGame Network Ltd. and Shanghai ConnGame Network Ltd., the Company leverages its game engines, development platforms, and production teams to develop and operate MMORPGs. The Company has two games under development. The first game, "Revolution," will allow game players to travel between Western and Eastern cultures, including adventures at historic locations and turf wars. The second game, "The Warring States," is a historic military adventure game based on the well-known period in ancient Chinese history of the same name. Game players will be able to join any of the seven states (e.g. Qin, Chu, Wei, Zhao, Yan, Han or Qi), and experience the historic battles of the period. The Company also provides design, engineering, fabrication and installation services for high-end curtain wall systems, roofing systems, steel construction systems, and eco-energy systems.
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