SHANGHAI, China, June 6 /Xinhua-PRNewswire/ -- The9 Limited (Nasdaq: NCTY)
("The9"), a leading online game operator in China, today announced that Mr.
Tony Tse has resigned as Chief Financial Officer due to personal and family
reasons, effective July 4, 2008. Meanwhile, The9 has appointed Mr. George Lai
as Chief Financial Officer of the company, effective July 3, 2008.
Prior to joining The9, Mr. Lai worked at Deloitte Touche Tohmatsu since
2000. He served in various positions including audit manager and senior
auditor at Deloitte Touche Tohmatsu Hong Kong, New York and Beijing offices.
During his eight years of work experience at Deloitte Touche Tohmatsu, Mr. Lai
played key roles in numerous IPO projects in the United States and China as
well as serving for public companies in Hong Kong, United States and China.
Mr. Lai received his Bachelor of Business Administration major in Professional
Accountancy from The Chinese University of Hong Kong. Mr. Lai holds various
accounting professional qualifications including AICPA, ACCA and HKICPA.
Mr. Jun Zhu, The9's Chairman and Chief Executive Officer, commented:
"Although we are sorry to see Tony's departure due to personal and family
reasons, we would like to express our sincere gratitude to his hard work
during his serving period at The9, especially his contribution to the
Company's Form 20-F filing process. In addition, we are very pleased to
welcome George on board as our new Chief Financial Officer. George has
extensive knowledge in US GAAP and solid background in dealing with public
company issues, especially in the fast booming internet industries, and we
believe he will fully utilize these knowledge and skill-sets to perform the
important managerial role of Chief Financial Officer at The9."
About The9 Limited
The9 Limited is a leading online game operator in China. The9's business
is primarily focused on operating and developing high-quality games for the
Chinese online game market. The9 directly or through affiliates operates
licensed MMORPGs, consisting of MU(R), Blizzard Entertainment(R)'s World of
Warcraft(R), Soul of The Ultimate Nation(TM), Granado Espada, and its first
proprietary MMORPG, Joyful Journey West(TM), in mainland China. It has also
obtained exclusive licenses to operate additional MMORPGs and advanced casual
games in mainland China, including Hellgate: London, Ragnarok Online 2, Emil
Chronicle Online, Huxley(TM), FIFA Online 2, Audition 2, Field of Honor,
Audition and Atlantica. In addition, The9 is also developing various
proprietary games, including Warriors of Fate Online(TM) and Fantastic Melody
Online(TM).
Safe Harbor Statement
This announcement contains forward-looking statements. These statements
are made under the "safe harbor" provisions of the U.S. Private Securities
Litigation Reform Act of 1995. These forward-looking statements can be
identified by terminology such as "will," "expects," "anticipates," "future,"
"intends," "plans," "believes," "estimates" and similar statements. Among
other things, the business outlook and quotations from management in this
press release contain forward-looking statements. The9 may also make written
or oral forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on Forms 20-F and 6-K, etc., in its annual
report to shareholders, in press releases and other written materials and in
oral statements made by its officers, directors or employees to third parties.
Statements that are not historical facts, including statements about The9's
beliefs and expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of important
factors could cause actual results to differ materially from those contained
in any forward-looking statement. Potential risks and uncertainties include,
but are not limited to, The9's limited operating history as an online game
operator, political and economic policies of the Chinese government, the laws
and regulations governing the online game industry, information disseminated
over the Internet and Internet content providers in China, intensified
government regulation of Internet cafes, The9's ability to retain existing
players and attract new players, license, develop or acquire additional online
games that are appealing to users, anticipate and adapt to changing consumer
preferences and respond to competitive market conditions, and other risks and
uncertainties outlined in The9's filings with the U.S. Securities and Exchange
Commission, including its annual reports on Form 20-F. The9 does not
undertake any obligation to update any forward-looking statement, except as
required under applicable law.
For further information, please contact:
Ms. Dahlia Wei
Senior Manager, Investor Relations
The9 Limited
Tel: +86-21-5172-9990
Email: IR@corp.the9.com
Web: http://www.corp.the9.com/
SOURCE The9 Limited
Ms. Dahlia Wei, Senior Manager, Investor Relations of The9 Limited,
+86-21-5172-9990, or IR@corp.the9.com
