Zhejiang Century Huatong Group announced on Tuesday that Shengqu Games, a wholly-owned subsidiary, signed a three-year agreement with Tencent on Monday. Shengqu Games will now be able to distribute, promote and operate Tencent‘s game products on its platform. 20% of the revenue generated will belong to Tencent and 80% will belong to Shengqu Games.
This cooperation will help Shengqu Games accumulate experience in the distribution of different types of games to improve the company’s research ability, the announcement mentioned.
The strategic cooperation between Shengqu Games and Tencent is an updated version of a gaming business cooperation between the two parties made back in 2019. At that time, Tencent obtained the exclusive attorneyship of well-known game products under Shengqu Games.
Shengqu Games has launched and operated more than 70 boutique games, such as Legend of Mir and The World of Legend, with more than 2.1 billion registered users.
The announcement also mentioned that Shengqu Games has the right to decide the opening progress and time of Tencent‘s products, and provide high-quality distribution and operation services for Tencent‘s game players.
Zhejiang Century Huatong Group has previously carried out in-depth cooperation with many leading game R&D firms and game agencies in the world. It is now responsible for the distribution of “Sword Net 1: Return” developed by Seasun.