Former Co-CEO of Game Developer Perfect World Dies Suddenly

Mobile game developer Perfect World announced on Monday that Lian Jie has submitted a request to resign as co-CEO of the company due to physical reasons. Unfortunately, according to Chinese media outlet Red Star News, Lian passed away in the United States on Monday night.

In Lian’s place, Perfect World has appointed Lu Xiaoyin as its new co-CEO.

Founded in 2004, Perfect World covers film and television, games, e-sports, cinema, animation and other business sectors. Perfect World Games, listed to the Nasdaq in July 2007, is the first game company in China to research 3D game engines. Its products are exported to more than 100 countries and regions.

In 2021, Perfect World successively launched a variety of mobile game products such as “Ancient Legend,” “Remains of God of War,” and “Tower of Fantasy.” Among them, the “Tower of Fantasy” attracted over 10 million new users and earned 500 million yuan ($79 million) in the first month following its launch.

Moreover, as the exclusive operator of well-known e-sports products Dota 2 and CS:GO in the Chinese mainland, Perfect World has successfully hosted many e-sports competitions since 2015.

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According to its financial report, Perfect World achieved revenue of 6.739 billion yuan in the first three quarters of 2021, down 16.4% year-on-year. The firm’s net profit attributable to shareholders was about 800 million yuan, down 55.72% year-on-year. As for the reasons for the decline in revenue, Perfect World said that the company shut down some overseas game projects that did not meet expectations in the second quarter of 2021. In January, Perfect World said that it expects to achieve a net profit attributed to parent company owner’s of 350-390 million yuan in 2021, down 77.40%-74.81% year-on-year.