20150120_cmge

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CMGE: What a wonderful SHORT. Just look at CMGE Top Revenue Generating Game.

A Closer Look at CMGE Leading Game tells us how much in trouble this little

known Chinese Company is.

First Quarter 2014 Results (link)

The sequential and year-over-year increases were due to the strong growth of our self-developed social games,namely Joyful Da Yin Jia, and the publishing of both third party single player and social games.

Second Quarter 2014 Results (link)

The year-over-year increase was due to the strong growth of both our self-developed social games, namely Joyful

Da Yin Jia , and our publishing business.

Third Quarter 2014 Results (link)

The sequential increase was mainly due to the continued success of our self-developed game, Joyful Da YinJia , as well as games in our publishing business, including the success of Super

Hero

From the information disclosed in the Quarterly reports presented to U.S. investors it looks like Joyful

Da Yin Jia ( ) has been the main growth contributor at CMGE.

Every month, Newzoo and TalkingData publishes the Top 10 Android App Stores in China (Link). Here you

can see the list:

1
http://www.sec.gov/Archives/edgar/data/1528752/000119312514201994/d728438dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514201994/d728438dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514201994/d728438dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514312403/d776368dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514312403/d776368dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514312403/d776368dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514414100/d821022dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514414100/d821022dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514414100/d821022dex991.htmhttp://www.newzoo.com/free/rankings/top-10-android-app-stores-china/http://www.newzoo.com/free/rankings/top-10-android-app-stores-china/http://www.newzoo.com/free/rankings/top-10-android-app-stores-china/http://www.newzoo.com/free/rankings/top-10-android-app-stores-china/http://www.sec.gov/Archives/edgar/data/1528752/000119312514414100/d821022dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514312403/d776368dex991.htmhttp://www.sec.gov/Archives/edgar/data/1528752/000119312514201994/d728438dex991.htm

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*These findings seem to corroborate the statements made in the following SeekingAlpha Instablog, where

the author claimed that CMGE's Primary Cahs Cow - Joyful Zha Jin Hua- Has Pull

From Distribution Stores As Regulator Tighen The Mobile Gaming Market/China

Link/

Yet, during the 13 2014 Earnings Call, Ken Fei Fu Chang (CMGE CFO) stated:

Okay. So between self-developed and publishing businesses, both 50-50 and in terms of the Joyful Da Yin

Jia is about 25% of our revenue and the top 5% -- the top five games roughly represent 60% of revenue

(Q3 2014 CC Bloomberg Transcript, page 9 of 11)

On a REVENUE of 357.6m for Q4 2014, this means that JOYFUL DA JIA generated approximately

89.4m RMB in sales for CMGE during the quarter ($14.5m / $58m annualized). YET, the game is

present in only 2 of the top 10 App Stores in China? Ouch Sounds impossible this little game

generated the reported revenue right? Impossible especially when you consider the number of

downloads.

Joyful Da Yin Jia (/ nor) is also nowhere to be found on360 Mobile Assistant

Shop:

SO UNFORTUNATE THAT Joyful Da Yin Jia ( / name in version

1.x) is not even listed on most of the App SK8tores (only 2 out of 10) with

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Joyful Da Yin Jia (/ nor) does only have a limited number of Downloads

(

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Joyful Da Yin Jia (/ nor) is also nowhere to be found onXiaomi App Store:

Joyful Da Yin Jia (/ nor) is also nowhere to be found onHiMarket:

4
http://app.mi.com/search?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://app.mi.com/search?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://app.mi.com/search?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://apk.hiapk.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&pid=0http://apk.hiapk.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&pid=0http://apk.hiapk.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&pid=0http://apk.hiapk.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&pid=0http://app.mi.com/search?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6

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Joyful Da Yin Jia (/ nor) is also nowhere to be found onWandoujia Appstore:

Joyful Da Yin Jia (/ nor) is also nowhere to be found onAnzhi:

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http://www.wandoujia.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&source=appshttp://www.wandoujia.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&source=appshttp://www.wandoujia.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&source=appshttp://www.anzhi.com/search.php?keyword=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://www.anzhi.com/search.php?keyword=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://www.anzhi.com/search.php?keyword=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://www.anzhi.com/search.php?keyword=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6http://www.wandoujia.com/search?key=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6&source=apps

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Unfortunately, Joyful Da Yin Jia (/ nor) seems that this game has been removed

from the Play Store (Link):

It currently cannot be found on Google Play (Link)

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https://mixrank.com/playstore/apps/com.zjh.cmgehttps://mixrank.com/playstore/apps/com.zjh.cmgehttps://mixrank.com/playstore/apps/com.zjh.cmgehttps://play.google.com/store/search?q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6https://play.google.com/store/search?q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6https://play.google.com/store/search?q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6https://play.google.com/store/search?q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6https://mixrank.com/playstore/apps/com.zjh.cmge

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Joyful Da Yin Jia (/ nor) is also nowhere to be found onHuawei App Store:

Btw, does this look like the website for a game that at current Quarterly Revenue Rates is expected to

generate approximately $60m in yearly sales? I would not think so! Only Two Updates in 2014:

http://zjh.cmge.com/

Since AppAnnie does not allow to disclose its data publicly, if you are able to locate the game you can

look at the chart yourself. But hey that's a big IF. OK, let me be straight with you: YOU WONT

BE ABLE TO LOCATE THE GAME.

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http://appstore.huawei.com/search/%25E5%25BF%25AB%25E4%25B9%2590%25E5%25A4%25A7%25E8%25B5%25A2%25E5%25AE%25B6http://appstore.huawei.com/search/%25E5%25BF%25AB%25E4%25B9%2590%25E5%25A4%25A7%25E8%25B5%25A2%25E5%25AE%25B6http://appstore.huawei.com/search/%25E5%25BF%25AB%25E4%25B9%2590%25E5%25A4%25A7%25E8%25B5%25A2%25E5%25AE%25B6http://zjh.cmge.com/http://zjh.cmge.com/http://zjh.cmge.com/http://appstore.huawei.com/search/%25E5%25BF%25AB%25E4%25B9%2590%25E5%25A4%25A7%25E8%25B5%25A2%25E5%25AE%25B6

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BACK TO THE ORIGINS

AH, BTW I almost forgot Game also not to be found on any of the TOP 3 China Mobile

Providers App Stores:

Joyful Da Yin Jia (/ nor) is also nowhere to be found on Unicoms (China

Mobile Provider)Wo Store:

Website not working properly at the moment / no Screenshot

Joyful Da Yin Jia (/ nor) is also nowhere to be found on China Mobiles (China

Mobile Provider)App Store:

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http://store.wo.com.cn/http://store.wo.com.cn/http://store.wo.com.cn/http://mm.10086.cn/searchapp?st=0&q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2http://mm.10086.cn/searchapp?st=0&q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2http://mm.10086.cn/searchapp?st=0&q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2http://mm.10086.cn/searchapp?st=0&q=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2http://store.wo.com.cn/

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Joyful Da Yin Jia (/ nor) is also nowhere to be found on China Telecom189

App Store:

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http://www.189store.com/index.php?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6+&act=classApp&app=searchhttp://www.189store.com/index.php?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6+&act=classApp&app=searchhttp://www.189store.com/index.php?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6+&act=classApp&app=searchhttp://www.189store.com/index.php?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6+&act=classApp&app=searchhttp://www.189store.com/index.php?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6+&act=classApp&app=searchhttp://www.189store.com/index.php?keywords=%E5%BF%AB%E4%B9%90%E5%A4%A7%E8%B5%A2%E5%AE%B6+&act=classApp&app=search

20150120_cmge

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