Huang Yimeng, CEO and co-founder of Shanghai-based gaming firm XD Inc, is making preparations to move abroad due to family reasons and rising opportunities elsewhere, reported Reuters.
Preparations are being made to move “after the next summer break,” though Huang will maintain his Chinese citizenship.
The development comes on the heels of a nine-month freeze on gaming licenses by Beijing authorities, which has led other local companies to look for opportunities overseas as well.
According to an internal memo, Huang stated that the company’s overseas operations “will count for a higher proportion” of its overall business. He also mentioned his hope of China’s Covid-19 policy being more relaxed.
“The ideal situation is that our domestic Covid policies can be more relaxed a year from now, and international relations can be more calm and open, in which case we all can frequently move about depending on the needs of our work and life,” said Huang, who had lived through the two-month-long lockdown in Shanghai.
XD Inc is a Hong Kong-listed mobile game developer with titles such as Sausage Man, T3 Arena, and Ragnarok M. It said that it has more than 41 million monthly active users around the globe on its gaming platform, TapTap.
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Editing by Miguel Cordon and Lorenzo Kyle Subido
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