The9 is China's biggest online gaming operator -- naturally with the license for WoW -- and also develops as well as distributes games in the region. Among its licenses are familiar titles such as Guild Wars and Hellgate: London, as well as titles more popular in Asia such as the control-three-characters-at-once Granado Espada, Ragnarok Online 2, and others. The company's CEO had this to say, "Hannah has been with us since before The9 went public in 2004. Over the years, she has played a vital role in transforming our company into a highly regarded US- listed public company with substantially improved financial reporting and internal control systems. We want to thank Hannah for her many contributions to The9 and wish her all the best in her future endeavors."
The company has announced a search for a replacement and expect to make an appoinment before the end of February. Let's hope that The9 stays in good shape despite the departure of the key person responsible for crunching their numbers! Otherwise, we might no longer see silly news stations using maps of the Arathi Highlands!
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Reader Comments (Page 1 of 1)
1-23-2008 @ 3:13PM
niko said...
Why is it a "curious time"? Execs looking to move up seem to look good when they go out on top!
Watch the outgoing CFO's resume over the next bit of time... I bet she's moving up in the world... still, I'd love to be in her position. :/
/sigh
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1-23-2008 @ 3:22PM
Zach said...
Good point there! But I suppose it's curious because The9 IS China's premiere gaming distributor and is at a really high point specially after some new license acquisitions.
1-23-2008 @ 3:30PM
Lab Monkey said...
"The announcement dealt a crit to the company's shares, which subsequently fell over 8.75% on the Nasdaq."
Ummm, I'm not sure if you guys have been watching the non-WoW related news, but the whole market is in freefall right now.
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1-23-2008 @ 3:35PM
Ryan said...
Also, the reasoning is rather suspect: outperforming earnings resulting in a stock price plummet? Most likely something else is responsible for the decrease; the earnings news would have offset the drop, not exacerbated it.
1-23-2008 @ 3:53PM
wisely said...
I posted a similar reply in another article by Mike several days ago.
Since TBC came out in last Sep in China, the 9 is doing quite well - but only in WOW, not all their other games.
Their couple games joint ventured with Korean companies were close to disaster, their EA soccer game was not a hit, and GW and the coming Hellgate London are both related to Blizzard style (pre blizzard employees related games), which will fail miserably in China also.
Currently, WOW is about 80% or higher for the total revenue of the 9. And thats not a very good sign if a company keeps trying new things but keep failing.
Their stock price was not free falling just recently, check NTCY again, and you will easily find that around early Sep last year, their stock price was around 40/share, and now?
Its under 19/share.
"The9 is China's biggest online gaming operator" - this is a false statement. The 9 is never a premier online gaming company until they got WOW.
Shanda (SNDA) is, which is the company that got Diablo 2's operation several years ago.
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1-23-2008 @ 10:13PM
k_f said...
Shanda didnt get Diablo2's operation in China, Aomei did. -o-
1-23-2008 @ 4:07PM
Cap said...
"Otherwise, we might no longer see silly news stations using maps of the Arathi Highlands!"
I see what u did there......
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1-23-2008 @ 6:19PM
Smurk said...
The9 better check their guild bank.
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1-23-2008 @ 7:03PM
Kaljin said...
"The announcement dealt a crit to the company's shares, which subsequently fell over 8.75% on the Nasdaq."
The whole market is like this. Not just The9. How have you not heard about this?
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1-23-2008 @ 7:40PM
Zach said...
To Kaijin & Lab Monkey:
Yep, fully aware of the market's freefall. However, and as sources state it, the drop happened right after the announcement. These things do tend to happen and they are correlated. It's a common occurrence for stocks to dip after the announcement of the departure of a key executive.
1-25-2008 @ 2:38PM
Kaljin said...
Ah, I see, my bad then.