And good news INHO. Next we need to get an update relating the Shanghai Dragon Project! By the way, China's gaming market is booming and Conngame is bringing out 2 MMORPHS this year! (see earlier filing from CAEI on Edgar Online)
There were a well-recognised architectural and design firm with a good reputation with the Chinese government. They were ambitious and expand internationally which, to me, resulted in mixed results e.g. pulled out of SIngapore project and Dubai was a mixed bag.
Then came the Nine Dragon project - a disaster of all time. I becomes fishy when they transformed from architectureal and design firm into a real-estate developer needing a ton of capital. The shareholders were dragged through the mud.
Then they changed course. From real estate developer to online gaming with a flimsy synergies of leveraging the conng game technology into architectural and design. Well, i'm not an expert of architecture and design business but let me know if you find anyone who wins project based on technology rendition and not design and costs.
Also, this acquisition is questionable. This is the first time in an acquisition where a company did not announce and revenue or earnings based on combined their stakes in Conn Game. Really, do you know how much you are getting for paying 25M? Is Conn game profitable? Is the stake accretive?
I have so much hope for this company based on the real estate boom in China. Now, the bubble is about to pop and yet the PPS is at all time low.
i agree JJ, a crapshoot. this like placing your money on red or black, there's no way of measuring which way this debacle is going to go...hope lies on the intelligence and foresight of the chinese managers...
With new Chairman of the CAEI Board, we will see more and more investors join him. Mr. Jun Tang is well-known Chinese business celebrity.
中国信息产业年度经济人物，中华十大英才管理人物，中国十大最有价值职业经理人，中国十大IT风云人物，中国十大科技人物。- Chinese IT industry year economy personage, top-ten person of outstanding ability of China manages a personage, top-ten the most valuable Chinese professional managers , top-ten Chinese IT celebrity , top-ten Chinese science and technology personages.