China $2 Billion Media & Gaming Company Perfect World CEO Xiao Hong & Co-CEO Lu Xiaoyin Resigned after 2024 1st Half Losses, Senior Vice President Gu Liming Appointed as New CEO
27th July 2024 | Hong Kong
China media & gaming company Perfect World ($2 billion market value) CEO Xiao Hong & Co-CEO Lu Xiaoyin have resigned after 2024 1st half losses, with Senior Vice President Gu Liming appointed as the new CEO. Perfect World – Perfect World Co., Ltd. (hereafter referred to as “Perfect World”) consists of three main business segments which are Perfect World Pictures, Perfect World Games and Perfect World E-sports. Perfect World Games was founded in 2004. Its first online game Perfect World won unprecedented success by its independently developed 3D engine and its contents adapted from Chinese traditional classic The Classic of Mountains and Seas. In July 2007, Perfect World Games was successfully listed on NASDAQ. And in 2008, Perfect World Pictures Co., Ltd. (“Perfect World Pictures”) was set up, then was listed on the Chinese A-share market in December 2014 (ticker: 002624). In July 2015, Perfect World Games completed its going private transaction. In April 2016, Perfect World Pictures successfully incorporated Perfect World Games by issuing shares to purchase assets. In July of the same year, Perfect World Pictures Co., Ltd. announced that the listed company had been formally renamed as Perfect World Co., Ltd. (hereinafter referred to as “Perfect World”), a move signifying that Perfect World Games was officially returning to the Chinese A-share market after completing the restructuring with its listed film and game businesses. The restructuring had also created the largest movie and game conglomerate ever in China. Between 2011 and 2024, Perfect World has been voted as one of the China Top 30 Cultural Enterprises 13 times. The company was successively named as one of the 2011-2012, 2013-2014, 2015-2016, 2017-2018, 2019-2020 and 2023-2024 Annual Key Enterprises for Cultural Exports. In 2016 and 2020, Perfect World was twice awarded the title of Most Socially Responsible Listed Company respectively, while in 2017, the company was honored as one of the most respected Chinese enterprises of 2016-2017. In 2018, the company won the title of Enterprise Model of China’s Social Responsibility for Games. In 2019, Perfect World won the award of Excellent Enterprise of Achieving Employee Happiness 2019 and was ranked among the fourth batch of “National Culture and Technology Integration Demonstration Bases” in 2021. In 2024, it has been listed as a cultural industry demonstration base at national level.
“ China $2 Billion Media & Gaming Company Perfect World CEO Xiao Hong & Co-CEO Lu Xiaoyin Resigned after 2024 1st Half Losses, Senior Vice President Gu Liming Appointed as New CEO “
China $2 Billion Media & Gaming Company Perfect World CEO Xiao Hong & Co-CEO Lu Xiaoyin Resigned after 2024 1st Half Losses, Senior Vice President Gu Liming Appointed as New CEO
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