Perfect World Co.,Ltd. Controller Plans to Sell Shares Worth Over 400 Million Yuan

Deep News11-30

On November 27, Perfect World Co.,Ltd. announced that its actual controller, Chi Yufeng, plans to reduce his stake by up to 32.98 million shares (1.7% of total shares) through block or auction trading between December 19, 2025, and March 18, 2026.

The company stated the share sale is due to Chi's personal funding needs. According to corporate data, Chi directly holds 149 million shares (7.69% stake) in Perfect World Co.,Ltd., while indirectly controlling another 22.20% through Perfect World Holding Group and Shihezi Happy Permanent Equity Investment Co., Ltd.

Following the announcement, Perfect World Co.,Ltd.'s stock price plunged over 7% at the November 28 market open. It closed down 6.59% at 14.17 yuan per share, with a market cap of 27.5 billion yuan. Based on this price, Chi could realize approximately 467 million yuan from the sale.

In recent years, Perfect World Co.,Ltd. has undergone multiple management and operational changes. On July 22, 2024, the company announced the resignations of co-CEOs Xiao Hong and Lu Xiaoyin due to work adjustments, though both remained as board members. Gu Liming was appointed as the new CEO.

The same year, the company terminated several R&D projects—including *Perfect New World*, *Spirit Cage*, and *Project Lucking*—reporting combined losses of 397 million yuan. It also implemented significant workforce reductions, cutting headcount by 1,849 (32% YoY) to 3,905 employees by end-2024.

After these restructuring measures, Perfect World Co.,Ltd. showed improved performance in 2025. Q3 revenue rose 31.45% YoY to 1.726 billion yuan, with net profit surging 176.59% to 162 million yuan. For the first three quarters, revenue grew 33% to 5.417 billion yuan, while net profit jumped 271.17% to 666 million yuan.

Among upcoming products, the anime-style open-world game *Different Rings* has drawn market attention after completing domestic and overseas beta tests in mid-2025, with a third test scheduled for early 2026. Analysts from Orient Securities and Changjiang Securities noted strong performance in its second beta, expecting it to drive growth next year.

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