{{Short description|Chinese video game company}} {{Use British English|date=May 2021}} {{Use dmy dates|date=May 2021}} {{Infobox company | name = Perfect World Co., Ltd. | logo = 250px|class=skin-invert-image | image = Perfect World building, Wangjing (20230821162801).jpg | image_caption = Perfect World Beijing headquarters | native_name = {{lang|zh|完美世界股份有限公司}} | romanized_name = Wánměi shìjiè gǔfèn yǒuxiàn gōngsī | type = Public | traded_as = {{Shenzhen Stock Exchange|002624}} | industry = Video games | founded = {{Start date and age|df=yes|2004}} | founder = Chi Yufeng | hq_location_city = Beijing | hq_location_country = China | key_people = {{Unbulleted list | Chi Yufeng (chairman)<ref name="The Straits Times: Chi" /> | Robert Xiao (CEO)<ref name="VentureBeat: Xiao">{{cite web |url=https://venturebeat.com/2013/10/26/how-chinas-perfect-world-plans-to-be-a-player-in-mobile-games-and-the-west/ |title=How China's Perfect World plans to be a player in mobile games — and the West |first=Dean |last=Takahashi |date=26 October 2013 |website=VentureBeat |access-date=6 May 2021 |archive-date=27 October 2020 |archive-url=https://web.archive.org/web/20201027125619/https://venturebeat.com/2013/10/26/how-chinas-perfect-world-plans-to-be-a-player-in-mobile-games-and-the-west/ |url-status=live}}</ref> }} | owner = Perfect World Investment & Holding Group (controlling interest) | num_employees = 4,500<ref name="VentureBeat: Xiao" /> | num_employees_year = 2013 | website = {{URL|https://www.pwrd.com/en/index.html|pwrd.com}} }}
'''Perfect World Co., Ltd.''' ({{lang-zh|完美世界股份有限公司}}) is a Chinese mass media company based in Beijing. It was founded in 2004 by Chi Yufeng. The company consists of two business segments: Perfect World Games, a video game publisher, and Perfect World Pictures, a film production company.
Perfect World is the exclusive distributor of Valve's games ''Dota 2'' and ''Counter-Strike 2'' in China.<ref name="Engadget: Steam">{{cite web |url=https://www.engadget.com/2018-06-11-steam-china.html |title=Perfect World and Valve partner to launch Steam in China |first=David |last=Lumb |date=11 June 2018 |website=Engadget |access-date=6 May 2021 |archive-date=13 February 2021 |archive-url=https://web.archive.org/web/20210213195329/https://www.engadget.com/2018-06-11-steam-china.html |url-status=live}}</ref>
== History == Perfect World was founded in 2004 by Chi Yufeng.<ref name="The Straits Times: Chi">{{cite web |url=https://www.straitstimes.com/business/tech-entrepreneur-chi-yufeng-sees-opportunity-in-every-situation |title=Tech entrepreneur Chi Yufeng sees opportunity in every situation |first=Phyllis |last=Ho |date=22 June 2015 |website=The Straits Times |access-date=6 May 2021 |archive-date=30 April 2017 |archive-url=https://web.archive.org/web/20170430094641/http://www.straitstimes.com/business/tech-entrepreneur-chi-yufeng-sees-opportunity-in-every-situation |url-status=live}}</ref><ref name="SCMP: Chi">{{cite web |url=https://www.scmp.com/tech/enterprises/article/2135820/chinese-gaming-company-perfect-world-just-picked-few-oscars |title=Chinese gaming company Perfect World just picked up a few Oscars |first1=Yingzhi |last1=Yang |first2=Jane |last2=Li |date=5 March 2018 |website=South China Morning Post |access-date=6 May 2021 |archive-date=9 November 2020 |archive-url=https://web.archive.org/web/20201109032436/http://www.scmp.com/tech/enterprises/article/2135820/chinese-gaming-company-perfect-world-just-picked-few-oscars |url-status=live}}</ref> A 1994 graduate of Tsinghua University, Chi had founded Beijing Hongen Education and Technology in 1996, which sold educational software to teach Chinese consumers how to use personal computers and learn English. He established Perfect World, then also known as Perfect World Games, as a developer and publisher of online multiplayer video games. The company became listed on the Nasdaq stock exchange in 2007. In 2008, Chi founded the film production company Perfect World Pictures. After Perfect World Games was delisted from Nasdaq in 2015, it was merged with Perfect World Pictures, which was traded on the Shenzhen Stock Exchange, in 2016. The combined company was renamed Perfect World.<ref name="SCMP: Chi" /> Perfect World Investment & Holding Group ({{lang-zh|完美世界控股集团有限公司}}), a holding company founded by Chi on 14 August 2013, owns a controlling interest in Perfect World.<ref>{{cite press release |url=https://www.pwrd.com/en/presentation/regular/20200424_1.pdf |title=完美世界股份有限公司 – 2019 年年度报告 |language=zh |trans-title=Perfect World Co., Ltd. – Annual Report 2019 |publisher=Perfect World |date=23 April 2020 |pages=57 |access-date=6 May 2021 |archive-date=6 May 2021 |archive-url=https://web.archive.org/web/20210506110515/https://www.pwrd.com/en/presentation/regular/20200424_1.pdf |url-status=live}}</ref>
Perfect World bought the developer Cryptic Studios from Atari, SA in May 2011 for ¥341,157,500 ({{€|35 million|link=yes}}).<ref>{{cite web |url=https://www.gamesindustry.biz/articles/2011-05-31-perfect-world-acquires-cryptic-studios-for-USD50-million |title=Perfect World acquires Cryptic Studios for $50 million |first=Matt |last=Martin |date=31 May 2011 |website=GamesIndustry.biz |access-date=6 May 2021 |archive-date=16 March 2021 |archive-url=https://web.archive.org/web/20210316044218/https://www.gamesindustry.biz/articles/2011-05-31-perfect-world-acquires-cryptic-studios-for-USD50-million |url-status=live}}</ref> The transaction was completed by August that year.<ref>{{cite web |url=https://www.engadget.com/2011-08-10-perfect-world-entertainment-completes-acquisition-of-cryptic-stu.html |title=Perfect World Entertainment completes acquisition of Cryptic Studios |first=Matt |last=Daniel |date=10 August 2011 |website=Engadget |access-date=6 May 2021 |archive-date=6 May 2021 |archive-url=https://web.archive.org/web/20210506110519/https://www.engadget.com/2011-08-10-perfect-world-entertainment-completes-acquisition-of-cryptic-stu.html |url-status=live}}</ref>
Perfect World Entertainment was Perfect World's North American video game subsidiary. It was established in June 2008.<ref>{{cite web |url=https://www.gamasutra.com/view/news/119531/Perfect_World_Acquires_Majority_Stake_In_Torchlights_Runic.php |title=Perfect World Acquires Majority Stake In ''Torchlight''{{'}}s Runic |first=Leigh |last=Alexander |author-link=Leigh Alexander (journalist) |date=17 May 2010 |website=Gamasutra |access-date=6 May 2021 |archive-date=24 September 2015 |archive-url=https://web.archive.org/web/20150924131626/http://www.gamasutra.com/view/news/119531/Perfect_World_Acquires_Majority_Stake_In_Torchlights_Runic.php |url-status=dead}}</ref>
In December 2021, Perfect World sold Perfect World Entertainment and Cryptic Studios to Embracer Group.<ref>{{Cite web |last=Takahashi |first=Dean |date=2021-12-21 |title=Embracer Group buys Perfect World Entertainment for $125M |url=https://venturebeat.com/games/embracer-group-buys-perfect-world-entertainment-for-125m/ |access-date=2024-06-27 |website=VentureBeat |language=en-US |archive-date=27 June 2024 |archive-url=https://web.archive.org/web/20240627013107/https://venturebeat.com/games/embracer-group-buys-perfect-world-entertainment-for-125m/ |url-status=live }}</ref> In June 2024, Perfect World reportedly laid off over 1,000 employees.<ref>{{Cite web |last=Carter |first=Justin |date=June 26, 2024 |title=Perfect World cuts staff in multi-unit layoffs, reportedly suspends game projects |url=https://www.gamedeveloper.com/business/perfect-world-cuts-staff-in-multi-unit-layoffs-reportedly-suspends-game-projects |access-date=2024-06-27 |website=www.gamedeveloper.com |language=en |archive-date=26 June 2024 |archive-url=https://web.archive.org/web/20240626182622/https://www.gamedeveloper.com/business/perfect-world-cuts-staff-in-multi-unit-layoffs-reportedly-suspends-game-projects |url-status=live }}</ref>
== Subsidiaries ==
=== Perfect World Europe === Perfect World Europe B.V. is Perfect World's European video game subsidiary. It was established in early 2010 in Amsterdam.<ref>{{cite web |url=https://www.ign.com/articles/2011/03/02/forsaken-world-launches-early-on-march-9th |title=Forsaken World Launches Early on March 9th |date=2 March 2011 |website=IGN |access-date=6 May 2021 |archive-date=25 November 2018 |archive-url=https://web.archive.org/web/20181125234701/https://www.ign.com/articles/2011/03/02/forsaken-world-launches-early-on-march-9th |url-status=live}}</ref> Gabriel Hacker was appointed as Perfect World Europe's general manager in May 2012.<ref>{{cite web |url=https://www.gamesindustry.biz/articles/2012-05-02-new-gm-for-perfect-world-europe |title=New GM for Perfect World Europe |first=Rachel |last=Weber |date=2 May 2012 |website=GamesIndustry.biz |access-date=6 May 2021 |archive-date=6 December 2017 |archive-url=https://web.archive.org/web/20171206200120/http://www.gamesindustry.biz/articles/2012-05-02-new-gm-for-perfect-world-europe |url-status=live}}</ref> In early 2020, a large portion of the company's staff was laid off, leaving only the finance, customer support, and localisation departments.<ref>{{cite web |url=https://www.gamesindustry.biz/articles/2020-01-15-layoffs-reported-at-perfect-world-europe |title=Layoffs reported at Perfect World Europe |first=Haydn |last=Taylor |date=15 January 2020 |website=GamesIndustry.biz |access-date=6 May 2021 |archive-date=28 April 2021 |archive-url=https://web.archive.org/web/20210428091729/https://www.gamesindustry.biz/articles/2020-01-15-layoffs-reported-at-perfect-world-europe |url-status=live}}</ref> The subsidiary formerly owned Perfect World Entertainment, the publishing arm of the company which was sold to Embracer Group in 2021.<ref>{{Cite web |title=Embracer Group enters into agreement to acquire Perfect World Entertainment |url=https://embracer.com/mfn_news/embracer-group-enters-into-agreement-to-acquire-perfect-world-entertainment/ |access-date=2023-12-30 |website=Embracer Group |language=en-US}}</ref>
=== Hotta Studio === Developer of Tower of Fantasy and Neverness to Everness.
=== Runic Games === {{Main|Runic Games}} Runic Games was a developer founded in 2008 and based in Seattle.<ref>{{cite web |url=https://www.polygon.com/2017/11/3/16605008/runic-games-closes-motiga-layoffs |title=Torchlight developer Runic Games shuts down |first=Julia |last=Alexander |date=3 November 2017 |website=Polygon |access-date=6 May 2021 |archive-date=9 November 2020 |archive-url=https://web.archive.org/web/20201109031223/https://www.polygon.com/2017/11/3/16605008/runic-games-closes-motiga-layoffs |url-status=live}}</ref> Perfect World acquired a controlling interest in the studio in May 2010 for {{US$|8.4 million|link=yes}}.<ref>{{cite web |url=https://www.gamesindustry.biz/articles/perfect-world-acquires-majority-stake-in-runic-games |title=Perfect World acquires majority stake in Runic Games |first=Kath |last=Brice |date=18 May 2010 |website=GamesIndustry.biz |access-date=25 April 2021 |archive-date=25 April 2021 |archive-url=https://web.archive.org/web/20210425114938/https://www.gamesindustry.biz/articles/perfect-world-acquires-majority-stake-in-runic-games |url-status=live}}</ref> On 3 November 2017, Perfect World shut down Runic Games, citing the publisher's focus on games as a service.<ref>{{cite web |url=https://www.gamedeveloper.com/business/perfect-world-shuts-down-runic-games-studio |title=Perfect World shuts down Runic Games studio |first=Alissa |last=McAloon |date=3 November 2017 |website=Gamasutra |access-date=25 April 2021 |archive-date=25 April 2021 |archive-url=https://web.archive.org/web/20210425114937/https://www.gamasutra.com/view/news/308970/Perfect_World_shuts_down_Runic_Games_studio.php |url-status=live}}</ref>
== Collaborations with Valve == On 25 February 2016, Perfect World hosted ''Dota 2''{{'}}s Shanghai Major. While the tournament itself was well received in regards to the player performances, the event garnered criticism due to delays on stream, spotty broadcasts, and various other problems within the tournament, including the theft and deterioration of the competing teams' equipment.<ref>{{cite web |url=https://kotaku.com/disastrous-dota-2-tournament-ends-with-missing-gear-pi-1763412162 |title=Disastrous ''DOTA 2'' Tournament Ends With Missing Gear, Pissed Off Players |first=Nathan |last=Grayson |date=7 March 2016 |website=Kotaku |access-date=6 May 2021 |archive-date=7 November 2020 |archive-url=https://web.archive.org/web/20201107230623/https://kotaku.com/disastrous-dota-2-tournament-ends-with-missing-gear-pi-1763412162 |url-status=live}}</ref> In the month that followed the event, the president of Perfect World, Yunfan Zhang, apologised for the issues with the event.<ref>{{cite web |url=https://www.pcgamer.com/perfect-world-apologises-for-shanghai-major-mess/ |title=Perfect World apologises for Shanghai Major mess |first=Angus |last=Morrison |date=12 April 2016 |website=PC Gamer |access-date=6 May 2021 |archive-date=27 November 2020 |archive-url=https://web.archive.org/web/20201127041724/https://www.pcgamer.com/perfect-world-apologises-for-shanghai-major-mess/ |url-status=live}}</ref>
In June 2018, Perfect World and Valve announced that they were developing a version of Valve's Steam service for the Chinese market.<ref name="Engadget: Steam" />
On 13 November 2023, it was announced that Perfect World would be hosting the second Valve-sponsored ''Counter-Strike 2'' Major Championship in Shanghai, China,<ref>{{Cite web |last=Gwynn |first=Dafydd |date=13 November 2023 |title=Perfect World to host CS2 Major in Shanghai |url=https://esportsinsider.com/2023/11/perfect-world-cs2-major-shanghai |access-date=27 August 2024 |website=Esports Insider |archive-date=7 February 2024 |archive-url=https://web.archive.org/web/20240207185804/https://esportsinsider.com/2023/11/perfect-world-cs2-major-shanghai |url-status=live }}</ref> with the event scheduled for 30 November 2024.<ref>{{Cite web |date=2024-08-01 |title=PGL secures English broadcast rights to the Shanghai Major |url=https://esports.gg/news/counter-strike-2/perfect-world-shanghai-major-broadcast-rights/ |access-date=2024-08-27 |website=esports.gg |language=en |archive-date=27 August 2024 |archive-url=https://web.archive.org/web/20240827190610/https://esports.gg/news/counter-strike-2/perfect-world-shanghai-major-broadcast-rights/ |url-status=live }}</ref>
== Games developed == * ''Perfect World'' – January 2006 * ''Perfect New World'' * ''Legend of Martial Arts'' – September 2006 * ''Jade Dynasty'' May 2007 - 2018 * ''Chi Bi'' – January 2008 * ''Hot Dance Party'' – March 2008 * ''Ether Saga Odyssey'' – 2008 - 2016 * ''Battle of the Immortals'' – April 2009 * ''Fantasy Zhu Xian'' – October 2009 * ''Dragon Excalibur'' – October 2010 * ''Forsaken World'' – October 2010 - 2022 * ''Saint Seiya Online —'' 2013 - 2018 * ''Swordsman Online'' – July 2014 - 2018 * ''Final Fantasy Awakening'' – 2017<ref>{{cite web |url=https://www.gematsu.com/2015/09/final-fantasy-type-0-online-announced-pc-smartphones |title=Final Fantasy Type-0 Online announced for PC and smartphones |first=Sal |last=Romano |date=19 September 2015 |website=Gamasutra |access-date=6 May 2021 |archive-date=16 February 2021 |archive-url=https://web.archive.org/web/20210216004809/https://www.gematsu.com/2015/09/final-fantasy-type-0-online-announced-pc-smartphones |url-status=live}}</ref> * ''Tower of Fantasy'' – August 2022 * ''Persona 5: The Phantom X'' - 2024 * ''One-Punch Man: World'' - 2024 * ''Neverness to Everness'' - 2026
== References == {{Reflist}}
== External links == * {{Official website|https://www.pwrd.com/en/index.html}}
{{Perfect World (company)}}
Category:Perfect World (company) Category:2007 initial public offerings Category:Chinese brands Category:Chinese companies established in 2004 Category:Companies based in Zhejiang Category:Companies formerly listed on the Nasdaq Category:Companies formerly listed on the Tokyo Stock Exchange Category:Software companies based in Beijing Category:Video game companies established in 2004 Category:Video game companies of China Category:Video game development companies Category:Video game publishers