Sky-mobi sells stake in Fangcun

Sky-mobi Ltd. (NASDAQ: MOBI) said it has announced the sale of its 37.9 percent equity interest in Shanghai Fangcun Information Technology Co., Ltd to Guangdong Alpha Animation and Culture Co., Ltd. (SZ: 002292).

The company realized a capital gain of RMB56.4m1 from this transaction.

Sky-mobi Ltd. is a leading mobile application platform in China. The company works with handset companies to pre-install its Maopao mobile application store on handsets and with content providers to provide users with applications and content titles. The company is based in Hangzhou, China. For more information, visit www.sky-mobi.com.

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