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Giant Interactive's Management Discusses Q1 2012 Results - Earnings Call Transcript

Such forward-looking statements involve known and unknown risks, uncertainties and other factors that may cause the actual results of Giant to be materially different from the historical results or from any results expressed or implied by such forward-looking statements. These factors include but are not limited to the risks discussed in filings with the Securities and Exchange Commission, including our annual report on Form 20-F filed on April 23, 2012. All forward-looking statements are qualified by their entirety by this cautionary statement and Giant undertakes no obligation to revise or update this information to reflect events or circumstances the date hereof. In addition, please note that references in the presentation to dollars refer to US dollars.

Now, I would like to turn the call over to our CFO, Jazy Zhang. Jazy?

Jazy Zhang

Thank you, Rich. Good morning to those of you in the east and good evening to those in the west. First, I would like to read the prepared remarks from our President, Ms. Wei Liu, and then I will walk you through our financial highlights and update you on our game development progress.

We are pleased to report a strong start to 2012, having delivered healthy top and bottom-line financial growth and an improvement in our key operating metrics. The successful development of ZT Online 2 into a new blockbuster game continued to drive our results for the first quarter and demonstrate our ability to continue developing hit games in the current competitive MMO market.

We’re especially encouraged by the sequential increase in average paying accounts and average revenue per user in a quarter in which we did not launch any significant game upgrades or marketing campaigns. We believe that incremental improvement in these operating metrics highlight the underlying appeal of a truly innovative game such ZT Online 2. And with the strong response to the launch of the first expansion pack of ZT Online 2 in April, we believe there is still room for further growth of this blockbuster game in coming quarters.

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