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Sky-mobi Announces Exclusive Mobile Game Licensing Arrangement With MIHOYO(June 26, 2014)
HANGZHOU, China, June 26, 2014 (GLOBE NEWSWIRE) -- Sky-mobi Limited ("Sky-mobi" or the "Company") (Nasdaq:MOBI), a leading mobile application platform in China, today announced an exclusive licensing arrangement with MIHOYO Co, Ltd ("MIHOYO"), a mobile game developer in China, for the distribution of the mobile game, The End of School II, over the iOS platform.
MIHOYO was founded in 2011 with the mission to develop innovative and high quality ACG for smartphones. Recognizing the MIHOYO team's strong development capabilities and pioneering design concept, Sky-mobi strategically invested in MIHOYO in early 2012 and cultivated its growth by providing game players preference, innovative gameplay, and most popular trend of graphic designs. During the past two years, MIHOYO has built up a strong brand and reputation for its advanced designs and creative gameplay through a series of highly-engaging game releases, including The End of School II.
Michael Tao Song, Chairman and Chief Executive Officer of Sky-mobi stated, "We are proud of our involvement in and contribution to MIHOYO's success of The End of School II, ranked No. 1 and No. 9 in the App Store paid games and popular games categories respectively after debuting on the iOS platform and further achieved grossed revenue over RMB10 million in recent month. As its publisher, Sky-mobi has fully leveraged our integrated resources by investing smartly in promoting the game online and off-line, catching proper timing to attract players, and bringing critical players' feedback to MIHOYO. We strongly believe that Sky-mobi has successfully entrenched its position in both Android and iOS platforms as a professional mobile game publisher, proven by our distinguished way of selecting games. As the momentum has been built up, we are expecting future success in publishing mobile games and higher return to all investors."
Safe Harbor Statement
This announcement contains forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. In some cases, you can identify forward-looking statements by such terms as "may," "will," ''believes,'' ''expects,'' ''anticipates,'' ''intends,'' ''estimates,'' "plans," "continues" or other similar expressions, the negative of these terms, or other comparable terminology. Such statements, including statements relating to the Company's business outlook, are subject to risks and uncertainties that could cause actual results to differ materially from those projected. Potential risks and uncertainties include the effectiveness, profitability and marketability of the Company's solutions; the Company's limited operating history; measures introduced by the PRC government and mobile network operators aimed at mobile applications-related services; the Company's revenue projections for future periods; the Company's ability to maintain relationships with handset companies, content providers and payment service providers; its dependence on mobile service providers and mobile network operators for the collection of a substantial majority of its revenues; billing and transmission failures, which are often beyond the Company's control; its ability to compete effectively; its ability to capture opportunities in the growing smart phone market; its ability to obtain and maintain applicable permits and approvals; general economic and business conditions; the volatility of the Company's operating results and financial condition; the Company's ability to attract or retain qualified senior management personnel and research and development staff; and other risks described in the Company's filings with the Securities and Exchange Commission, including its annual report on Form 20-F filed on June 28, 2013. These forward-looking statements are based on current expectations, assumptions, estimates and projections about the Company and its industry. The Company undertakes no obligation to update forward-looking statements to reflect subsequent occurring events or circumstances, or changes in its expectations, except as may be required by law.
About Sky-mobi Limited
Sky-mobi Limited is a leading mobile application platform in China. The Company works with handset companies to pre-install its Maopao mobile application store on handsets and with content providers to provide users with applications and content titles. Users of its Maopao store can browse, download and enjoy a range of applications and content, such as single-player games, mobile music and books on various mobile handsets with different hardware and operating system configurations. The Company's mobile social network community in China, the Maopao Community, offers mobile social games, as well as applications and content with social network functions to its registered users. The Company is based in Hangzhou, China. For more information, please visit: www.sky-mobi.com.
CONTACT: Investor Relations Contact:
Mr. John Bi, Chief Financial Officer
Phone: + (86) 571-8777 0978 (Hangzhou, China)
Phone: + (1) (646) -915-1615 (US)
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