China CGame & the Committee - Analyst Blog
05 April 2011 - 7:12PM
Zacks
China CGame Inc. (CCGM) 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, also called the
Committee.
Under the terms of the agreement, China CGame has established a
subsidiary called Changzhou ConnGame Network, Ltd in the city of
Changzhou and has agreed to shift its headquarters to Changzhou.
The Committee has also given the nod to make an equity investment
of RMB 20 million in Changzhou ConnGame through the Changzhou Binhu
Remnimbi Construction Development Group Co., a state-owned company
controlled by the Administrative Committee.
In addition, the Committee will also assist the company to
obtain RMB 10 million, required for early stage operating
expenses.
According to the company, the city of Changzhou is the best
place available for a company like China CGame as it has more than
three hundred software and animation companies located in the Wujin
district of the city. Relocating the headquarters will only help
the company increase its value and develop the high technology
industrial base of Changzhou.
According to the Committee, China CGame will not only add very
much to the development of the local technology but also attract a
great deal of talent and capital to the city.
China CGame is a self-developer of online games and a provider
of high-end envelope architectural systems. With the help of its
two subsidiaries, Changzhou ConnGame Network Ltd. and Shanghai
ConnGame Network Ltd., the company provides game engines,
development platforms, and production teams to develop and operate
MMORPGs. 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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