Perfect World (002624) Q3 2026 earnings summary

Executive summary

• Q3 revenue was RMB2.36B, up 36.85% YoY; attributable net income was RMB505.6M, up 211.47%, while YTD revenue and net income declined 5.61% and 41.83%, respectively.

• Neverness to Everness drove gaming growth and operating cash inflow; YTD results also reflected lower film revenue, weaker agency-game income, and the absence of prior-year disposal gains.

Financial highlights

• Q3 adjusted attributable net income was RMB471.3M, up 185.49% YoY; YTD adjusted net income was RMB260.7M, down 46.04%.

• YTD operating revenue was RMB5.11B versus RMB5.42B a year earlier; attributable net income was RMB387.1M versus RMB665.5M.

• Total assets were RMB10.98B at quarter-end, up 4.92% from year-end; equity attributable to shareholders was RMB7.08B, down 0.66%.

Segment performance

• YTD gaming revenue rose 7.09% to RMB4.79B, led by Neverness to Everness; lower revenue from Zhuxian World, CS:GO, and Dragon Oath 2: Flying Dragon War partly offset the growth.

• YTD gaming attributable net income was RMB433.9M, down RMB283.0M YoY, largely reflecting prior-year one-time proceeds from the sale of the Chengfeng studio; adjusted gaming net income fell 28.7% to RMB390.4M.

• Film revenue fell 66.58% to RMB306.9M YTD as fewer titles aired and generated recognized revenue; attributable net loss was RMB4.1M and adjusted net loss RMB29.8M.