Liu Huicheng will continue to focus on product research and development as the general manager.

according to the announcement on the evening of November 29, Chairman Deng Pan, Director and General Manager Hu Bin, and Supervisor Sun Juanxia all resigned for personal reasons, and the company's board of directors agreed to elect Liu Huicheng as a candidate for the third board of directors. and agreed to appoint Liu Huicheng as general manager of the company.

original title: change of coach of palm fun science and technology, heavy troops stationed in mobile game research and development

palm fun science and technology announced on the evening of November 29 that the company's chairman Deng Pan, director and general manager Hu Bin, and supervisor Sun Juanxia all resigned for personal reasons. The company's board of directors agreed to elect Liu Huicheng as the candidate for the third board of directors and to appoint Liu Huicheng as the company's general manager. If approved by the shareholders' meeting, the board nominating committee intends to nominate Liu Huicheng as a candidate for chairman of the board.

data show that Liu Huicheng holds a master's degree in business administration from the School of Economics and Management of Tsinghua University, and is currently the director and general manager of Beijing Tianma time and Space Network Technology Co., Ltd., a subsidiary of Palm Technology Holdings. Its first mobile game, "Miracle of the whole people", set a recharge record of 13 hours on its first day at the end of 2014.

the company's poor performance this year is also one of the main factors contributing to the change of senior executives.

the third quarterly report shows that during the reporting period, the company achieved operating income of 1.279 billion yuan, down 5.66% from the same period last year; net profit of 394 million yuan, down 29.54% from the same period last year; and earnings per share of 0.14 yuan.

since its listing in 2012, palm fun technology has rapidly increased its market value by relying on more than 40 mergers and acquisitions. Its market value has soared from 4 billion yuan to 54 billion yuan in three years, becoming the star of the gem.

however, with the oligarchic trend of Tencent and NetEase in the mobile game industry, and the lack of a "popular style" of game products independently developed by Palm fun Technology, the performance of Palm fun Technology began to decline in the second half of 2016, continuing the previous decline in 2017. In the first half of the "Arena of Valor" led by the mobile game plate performance improved significantly, palm fun technology performance is still poor. According to the company's previously released semi-annual report, in the first half of 2017, the operating income of palm fun technology reached 827 million yuan, down 13.35 percent from the same period last year, and the net profit was 267 million yuan, down 36.17 percent from the same period last year. It is worth noting that, with the exception of palm fun technology, other game companies achieved rapid profit growth in the first half of the year. For example, Sanqi Mutual Entertainment, which is also a game company, has made a successful transformation in recent years, and its market value has increased more than tenfold to reach a level of about 50 billion, ranking first in the A-share game industry. In the first half of 2017, Sanqi Mutual Entertainment once again achieved a net profit of 851 million yuan and a net profit increase of 75.01%, becoming the only game company among the top 100 profitable A-shares.

similarly, in the third quarter, the results of the game companies that have announced three quarterly reports are different from those of palm fun technology, showing different growth rates.

Kunlun Wanwei realized operating income of 2.673 billion yuan in the first three quarters, an increase of 44.89% over the same period last year, and a net profit of 576 million yuan, an increase of 16.88% over the same period last year. According to the third quarterly report of Youjiu Game, the company's operating income in the first three quarters was 139 million yuan, down 39.02% from the same period last year, and its net profit was 42.5836 million yuan, an increase of 50.37% over the same period last year. The operating income of God Entertainment in the first three quarters was 2.237 billion yuan, an increase of 70.79% over the same period last year, and the net profit was 750 million yuan, an increase of 121.66% over the same period last year. Relevant analysts believe that the expansion of palm fun technology depends on mergers and acquisitions, and the main business relies on a single game to generate income, which is not sustainable.

Yao Wenbin, the first chairman of Palm fun Technology, once said in a media interview that the general environment of the game industry is different from the extensive development in 2012 and 2013, when it was possible to acquire good teams and drive growth with capital. nowadays, a company is worthless if it is not product-oriented. If the management represented by himself is the first generation of leaders of palm fun, a 12-year cycle, then the next generation of leaders must be product-and business-oriented talents.

Liu Huicheng's succession also means that Palm Technology will continue to focus on R & D and products as the core development direction, and this change in R & D orientation is also due to market pressure.

according to the China Game Industry report from January to June 2017, the actual sales revenue of China's mobile game market reached 56.14 billion yuan in the first half of 2017, while achieving a rapid growth of 49.8%. The top 10 mobile games products account for 54.9% of the revenue, and the market concentration is further strengthened. At the same time, many factors, such as the sharp increase in purchase cost, the intensification of homogenization and the enhancement of user discrimination ability, all represent the industry's return to "quality is king".

Edit: mary