PWRD(002624) 上海证券报·2025-04-26 01:22Core Viewpoint - The company reported a significant net loss of 128,755.83 million yuan for the year, primarily due to challenges in its gaming and film businesses, necessitating a strategic reassessment and restructuring of its operations [7][8][11]. Company Overview - Perfect World is a global cultural entertainment group focused on the development, publishing, and operation of online games, as well as television and short drama production [4][6]. - The company has a strong history in game development, being one of the earliest developers of 3D game engines in China, and has successfully expanded into international markets [4][6]. Financial Performance - The company reported total revenue of 557,049.02 million yuan, with a net loss attributed to shareholders of 128,755.83 million yuan, and a net loss of 131,269.90 million yuan after excluding non-recurring losses [7][8]. - The gaming segment generated revenue of 518,070.95 million yuan, down from 666,926.86 million yuan in the previous year, reflecting a net loss of 72,470.37 million yuan compared to a profit of 49,012.11 million yuan in the prior year [8][9]. - The film segment's revenue decreased to 34,980.62 million yuan from 103,397.54 million yuan, resulting in a net loss of 40,196.06 million yuan compared to a profit of 9,301.89 million yuan the previous year [11][12]. Business Challenges - The gaming industry has faced intensified competition, leading to increased expectations for high-quality content and longer development cycles, which have impacted the company's performance [8][11]. - The company has struggled with project management and market responsiveness, leading to the closure of several underperforming projects, resulting in significant financial losses [8][9][11]. Strategic Adjustments - In response to the financial challenges, the company is focusing on optimizing its project portfolio, halting projects that do not align with its strategic direction, and reallocating resources to more promising initiatives [8][11][23]. - The company plans to enhance its gaming offerings by focusing on long-term games and exploring new genres, while also investing in esports and leveraging technology to improve user experience [15][20][23]. Future Outlook - The company aims to reduce overall investment in film projects while increasing its presence in the short drama market, which has shown rapid growth [11][12][22]. - The company is committed to improving its operational efficiency and profitability through strategic management and talent development initiatives [23][24][25].