Perfect World Achieves Net Profit of $84.8 Million in Third Quarter of 2021

perfect world
(Source: Perfect World)

On Tuesday, Perfect World Co., Ltd., a cultural and entertainment group, disclosed its report for the third quarter of 2021. During the reporting period, the company achieved a total operating income of 2.533 billion yuan ($396 million), down 13.21% year-on-year. The company’s net profit attributable to shareholders of listed companies was 542 million yuan ($84.8 million), a year-on-year increase of 1.18%, while the basic earnings per share was 0.28 yuan per share, which was the same as that of the same period of last year.

So far, in the first three quarters of 2021, Perfect World has achieved a total operating income of 6.74 billion yuan, down 16.4% from the same period of the previous year. Its net profit attributable to shareholders of listed companies was 800 million yuan, down 55.72% from the same period of the previous year. At present, the company’s total assets are 16.72 billion yuan.

Perfect World said the net profit attributable to shareholders of listed companies from the beginning of the year to the end of the reporting period decreased compared with that of last year. While the net profit attributable to shareholders of listed companies increased compared with the same period of last year, mainly because the company adjusted the layout of overseas games and shut down some projects that did not perform as expected in the second quarter of 2021. The closure of projects resulted in a one-time loss of about 270 million yuan.

In the first half of 2021, the company successively launched five new games. In the third quarter, the  initial stage investment of several new games gradually saw a profit and contributed slightly to overall company performance. In the third quarter of 2021, the net profit attributable to shareholders of listed companies increased compared with the same period of last year, of which the game business achieved a profit of about 550 million yuan. The operating performance recovered significantly from the previous month.

SEE ALSO: Perfect World Records Strong Gaming Revenue Growth in 2019 and Q1 2020

Perfect World covers three major sectors: games, e-sports and films. Founded in 2004, the company’s online game “Perfect World” was a great success and featured its proprietary 3D engine and traditional Chinese content. In July 2007, Perfect World Games went public on the NASDAQ. And in 2008, Perfect World Pictures Co., Ltd. was set up, then was listed on domestic A-shares market in December 2014. In July 2015, Perfect World Games removed itself from public trading and went private.