BRIEF: CMGE swings to red with 240 million yuan interim loss

0302.HK

Mobile game developer and publisher CMGE Technology Group Ltd. (0302.HK)warned on Sunday that it expects to report an interim loss of up to 243 million yuan ($34 million), reversing a profit of 51 million yuan in the year-ago period.

It blamed its swing into the red mainly on non-operating factors, such as lower non-operating gains in the latest period versus a year ago, and higher non-operating expenses compared with a year ago. It added that its self-developed game “Legend of Sword”was also in its testing phase and therefore unable to generate revenue during the reporting period

By Lau Chi Hang

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