Yintai Investment Shanda Games holds a 9.02% stake. New CEO Xie Fei was once vice president of China Digital

At noon on May 19, Shanda Games announced today that its holding company Elion Shengda has transferred 9.02% of its shares and 34.38% of the voting rights to the holding companies of Yintai Group. At the same time, Shanda Games also hired Xie Fei as the new CEO.

Original title: Shanda Games announced the introduction of Yintai Group Xie Fei as CEO.

At noon on May 19, Shanda Games announced today that its holding company Eli Shengda has transferred 9.02% of its shares and 34.38% of its voting rights to Yintai Group. Holding company, Shanda Games also hired Xie Fei as the new CEO.

After Yintai Group joins, Shanda Games 'main shareholders will be composed of three parties, namely Zhongrong Group, the controlling shareholder of listed company Zhongyin Cashmere Industry, and the "gravel fund" controlled by listed company Shiji Huatong and its related party Shanghai Liyou Investment Management Co., Ltd., and the new shareholder Yintai Group. The latter is a diversified industrial investment group with multiple domestic and overseas listing platforms. Shanda believes that its resources and operating experience in the capital market will greatly promote the subsequent development of Shanda Games. After the shareholder change, Elion Shengda Company, which is controlled by Shanda Games 'core management team, will no longer hold shares in the company, and the existing management will focus on the company's operations and business development.

It is understood that allowing Shanda Games to return to China's capital market for faster and better development is the consistent and consistent demand of the company's shareholders and management. In November 2015, Shanda Games delisted from NASDAQ, taking the first step towards returning to and participating in in-depth diversified development in the country. Half a year has passed so far. Under the leadership of management, Shanda Games has a development opportunity to return to the peak of the industry around the "four major strategies" of mobile, mobile games, overseas and IP. However, due to many complex reasons, the company's progress in capital operations has been slow, which is obviously inconsistent with the development of its main business. All shareholders and management believe that this situation must be significantly improved.

New CEO Xie Fei said that this equity change can be said to be the result of a joint effort of three reasons. First, due to the growth momentum of Shanda Games since the second half of 2015, it has attracted great attention from many investors in the capital market. "Legend of Hot Blood Mobile Edition" has excellent results with a maximum daily revenue of 40 million yuan and a maximum monthly revenue of nearly 700 million yuan. The S-level evaluations of the new games "Legend of Eternal" and "Legend of the World Mobile Games" during the test period, as well as a series of IP expansions represented by "Chronicles" and "Super Green", and many major achievements have made Shanda Games 'future development generally optimistic.

The second reason stems from the business philosophy of Shanda Games management. Since its delisting, the company's stagnation in capital operation has contrasted with the development of its main business areas. In order not to miss the current rare development opportunity, the management decided to "break the situation" and introduce new shareholders by transferring its shares., allowing the management to focus on the company's operations and pursue quality, and "let professional people do professional things."

Third, Yintai's shareholding will not affect Shanda Games 'existing management structure. All parties on the board of directors highly recognize the management's capabilities and performance, and the latter still has the decision-making power over the company's business affairs. At the same time, the management avoided the complex contradictions that had been involved in the struggle for shareholder control for a long time, which also helped clarify many unnecessary assumptions within the company and among employees, and unified the company to return to its original intention 100% and play the game carefully.

It is reported that the newly appointed CEO Xie Fei once served as vice president of China Digital Media Network Co., Ltd., has rich management and operation experience in the field of new media business, and also served as vice president of a venture capital partnership focusing on TMT. Xie Fei holds a master's degree in business administration from the University of Kent in the United Kingdom.

Editor: Nancy