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With H1 2014 sales up 71% to $21 million, Feiyu Technology announces Hong Kong IPO plans

Xiamen Haloer+Cairot=IPO

With H1 2014 sales up 71% to $21 million, Feiyu Technology announces Hong Kong IPO plans

Going against the trend to gain a stock market listing by a reverse-takeover, Chinese mobile and web game developer Feiyu Technology has announces plans to list on the Hong Kong Stock Exchange.

Created by the merger of developers Xiamen Haloer and Cairot earlier in 2014, Feiyu says it generated revenues of around $21 million (RMB 129 million) during the first six months of 2014 - up 71 percent year-on-year.

Mobile games accounted for around 70 percent of this total, compared to 30 percent in H1 2013.

On the up

In terms of key brands, there are over 100 million registered players of the Carrot Fantasy mobile tower defence games, with around 17 million monthly active players.

The company says it also has around 2.3 million monthly active players for its RPGs.

The news follows a similar move from Chinese PC-turned-mobile developer LineKong, which announced its intention to float in Hong Kong at the start of September.

[source: TechNode]

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