Replies to post #16242 on Sharing Knowledge in Smallcaps

[KauaiPI]

Tempo~re: KONG~ do you know what the status is of the 9% divestiture? 125M shares coming to market would seem to put downward share price pressure (in the future), no?

Wed Feb 23, 2005 07:19 PM ET
HONG KONG, Feb 24 (Reuters) - China Assets (Holdings) Ltd. (0170.HK: Quote, Profile, Research) said on Thursday it was seeking shareholders' approval for the possible sale of its 9.1 percent stake in Nasdaq-listed KongZhong Corp (KONG.O: Quote, Profile, Research).

"No contracts have been entered into by the company in relation to the possible disposal of KongZhong Shares as the directors consider that the company should first obtain its Shareholders' approval for the disposal so that a disposal can be effected expeditiously when market conditions are favourable," China Assets' Chairman Lao Yuan Li said in a statement.

The sale of its holding of 125.28 million shares in KongZhong would boost cash flow for China Assets and allow for other investments if and when opportunities arise, Lao added.

--more--
http://yahoo.reuters.com/financeQuoteCompanyNewsArticle.jhtml?duid=mtfh64132_2005-02-24_00-19-02_hkg....

best!
kp

[Tempoman]

KP, more on Chinese gaming...
New China Online Game Report Promises Growth
April 4, 2005
In a new report on China's online gaming market, IDC says it expects mainland China's online gaming market to show steady growth over the next five years with a relatively high compound annual growth rate of 34.7%.

The "China Gaming Market Analysis and Forecast 2004-2009" report, jointly released by IDC China and China Game Publishers' Association, a subordinate to China's General Administration of Press and Publication, estimates that the telecom revenue directly generated by online gaming in China in 2004 amounted to US$1817.9 million.

"Rapid Internet development has fueled the growth of online gaming, which has impacted various sectors like telecom, Internet, computer, software, and consumer electronics," says Grace Zheng, Senior Analyst, Cross-Product Research Group, IDC China.

However even as many mobile companies are shutting down because of poor wireless offerings and government sanctions, the report points to high future growth in the mobile gaming sector