NEW YORK, NY -- (Marketwire) -- 09/07/11 -- With 457 million online at the end of 2010, China already claims the largest number of Internet users in the world and studies show that the number of users continues to grow at a rapid pace. With roughly two-thirds of these users engaging in online gaming, major online gaming companies have posted surging revenues in recent quarters. The Bedford Report examines the outlook for companies in China's Computer Services Industry and provides stock research on Giant Interactive Group, Inc. (NYSE: GA) and Perfect World Co. (NASDAQ: PWRD). Access to the full company reports can be found at:
Revenues generated for online games in China were up in the second quarter of 2011, according to recently-published figures from China's Analysis International. Total reported revenue for the quarter was CNY8.76 billion ($1.35 billion), representing a 12.6 percent growth from revenues reported for the same quarter last year, and is 3.1 percent more than those reported the prior quarter.
A Pearl study from earlier this year said that Asia's 350,000 internet cafes play a critical role in giving online gamers access to their favorite games. The government is pushing expansion of internet cafes in China by requiring internet cafe chains to operate at least 30 locations across three or more provinces.
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Giant Interactive is a leading online game developer and operator in China in terms of market share, and focuses on massively multiplayer online role playing games. Currently, Giant operates multiple games, including ZT Online, ZT Online Green Edition, ZT Online 2, Giant Online, XT Online, and The Golden Land. Last month the company said its second quarter revenue was RMB436.2 million (US$67.5 million), an increase of 8.2 percent from the first quarter 2011 and an increase of 35.6 percent from the second quarter 2010.
Perfect World primarily develops online games based on proprietary game engines and game development platforms. In August 2011, the Company acquired Cryptic Studios, a reputable online game company based in the US. The acquisition will bring additional world-class titles, including "Champions Online," "Star Trek Online" and "Neverwinter Nights," and other projects into the Company's diversified portfolio and pipeline.
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