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Perfect World, a leading mobile game company in China, announced a significant decrease in its net profits in 2021. Affected by the news, the company’s stock price fell to 14.63 yuan ($2.31), with a total market value of 28.382 billion yuan.
On January 21, Perfect World released its 2021 predicted performance report, showing expected annual net profit between 350 million and 390 million yuan, down 77.40%-74.81% year-on-year. It is also estimated that the non-net profit will be deducted by between 100 million and 120 million yuan, down 90.42%-88.50% compared to last year.
In its attempt to explain the declining performance, Perfect World pointed out in the announcement that its net profit mainly consisted of its game business, film and drama business and headquarters expenditure. Among them, the game business is at a critical stage of…
