63-year-old Shi Yuzhu has reinstated a longtime deputy. On October 29, Giant Network, under his control, announced that Zhang Dong resigned as general manager for personal reasons, with Liu Wei taking over. "The responsibilities handled by Zhang Dong have been transitioned, and his departure will not affect normal operations," the statement noted.
Liu Wei, 57, is a trusted veteran of founder Shi Yuzhu. Having worked at Giant Network for years across multiple roles, she rose to general manager in 2016, serving for seven years before stepping down at the end of 2023 while retaining her board position. Zhang Dong succeeded her. Now returning, Liu openly stated her priority is to "cultivate young core talent," signaling Shi Yuzhu may still seek fresh leadership in the future.
**Unexpected Shift** The leadership change came as a surprise. Zhang Dong, 45, is a gaming industry veteran with two decades of experience at Tencent, NetEase, and other majors, having overseen hits like *Hearthstone* and *Overwatch*. He also served Shi Yuzhu for years, leading monetization-heavy titles like *ZT2*. Shi previously revealed Zhang was Liu’s handpicked successor. Since taking the helm in January 2024, Giant Network thrived under Zhang, with shares soaring 180% over ten months to a market cap of 68 billion yuan. Shi’s 37.49% stake is now worth 25.7 billion yuan. On the day of the announcement, Q3 earnings showed an 81% net profit jump to 640 million yuan. Zhang resigned for personal reasons, per the filing. Public records indicate he held no board seat, owned just 10,000 shares, and earned over 3.3 million yuan in 2024.
**Rebound Under Shi’s Revival** Since resuming control in 2022, Shi has spearheaded reforms, personally overseeing game R&D and live ops. New hits like *Supernatural Action Squad*, a co-op treasure-hunting title, drove August revenue up 72% monthly, lifting Giant to No. 16 in publisher rankings (Sensor Tower). At June’s *ZT* 20th-anniversary event, Shi credited the IP’s longevity to "respecting players"—prioritizing feedback, gameplay over monetization, and accessibility.
**Course Correction** Giant’s recovery stems from Shi’s refocus on player experience after years of pay-to-win criticism. He revamped *ZT* mobile adaptations, cutting predatory monetization while adding social and casual elements. Marketing shifted from ad buys to short dramas, like one starring actress Charmaine Sheh. The payoff: Jan-Sept revenue surged 51.8% to 3.37 billion yuan. Shi rated the team’s performance at 80/100, acknowledging Zhang’s contributions.
**Debt Shadows** Despite gaming gains, Shi’s debt woes persist, notably guarantees tied to troubled conglomerate Oceanwide. In 2025, his holdings were frozen twice—first a 490 million yuan enforcement involving property firm Zijing (linked to disgraced tycoon Lu Zhiqiang), then 277 million yuan in Guangxi Beibu Gulf Bank shares. Giant Network clarified these involve Shi’s personal stakes, not the listed entity. His Giant Investment arm has pledged 68% of its Giant Network holdings (385 million shares).
**Beyond Gaming** Shi remains active at China Minsheng Bank and other ventures. With daughter Shi Jing, his net worth stands at 54 billion yuan (Hurun Rich List). For the battle-hardened mogul, executive shuffles are just another play in a long game.
(Image source: Giant Network)
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