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Shanda Happy With Q2 2004 Results

Shanda Interactive Entertainment Limited, the online games operator in China, today announced its financial results for the quarter ended June 30, 2004.

The summary of the second quarter 2004 is as follows:

– Revenues for the second quarter of 2004 increased 108.8% year-over-year and 25.8% quarter-over-quarter to CNY302.2 million (US$36.5 million) and net revenues increased 109.3% year-over-year and 26.1% quarter-over-quarter to CNY287.0 million (US$34.7 million);

– Total peak concurrent users for all the games in commercial service in the second quarter of 2004 increased 14.3% quarter-over-quarter to 1.6 million and total average concurrent users increased 23.6% quarter-over-quarter to 1.2 million;

– MMORPG revenues for the second quarter of 2004 increased 13.0% quarter-over-quarter to CNY238.4 million (US$28.8 million) and casual game revenues increased 85.0% quarter-over-quarter to CNY48.0 million (US$5.8 million);

– Gross profits for the second quarter of 2004 increased 117.0% year-over-year and 31.5% quarter-over-quarter to CNY180.1 million (US$21.8 million);

– Income from operations for the second quarter of 2004 increased 80.4% year-over-year and 59.6% quarter-over-quarter to CNY111.7 million (US$13.5 million);

– Net income for the second quarter of 2004 was CNY141.0 million (US$17.0 million). Diluted earnings per ADS were CNY2.04 (US$0.24) for the second quarter of 2004.

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