Perfect World to Increase Its Investment in VC Fund
BEIJING, March 5, 2013 /PRNewswire/ -- Perfect World Co., Ltd. (NASDAQ: PWRD) ("Perfect World" or the "Company"), a leading online game developer and operator based in China, today announced that one of its consolidated entities has recently entered into a definitive agreement to invest an additional RMB396.0 million as a limited partner into a venture capital fund (the "VC Fund"), of which one of Perfect World's consolidated entities is an existing limited partner. The VC Fund intends to invest the additional capital received into another private equity fund (the "PE Fund") as one of its limited partners. To the knowledge of the Company, the PE Fund will primarily focus on investing in mature companies in the consumer and retail, financial services, health care, TMT, energy and natural resources, and high value-added manufacturing industries in China. The core team managing the PE Fund consists of former senior members of global private equity and financial services firms and a former senior executive of a Fortune 500 company. These core team members in the past have managed private equity investments of nearly three billion U.S. dollars in aggregate.
"We are very pleased that the VC fund we have invested in has the opportunity to participate in this private equity investment focusing on later stage companies," commented Mr. Michael Chi, Chairman and Co-CEO of Perfect World. "We are confident about the leadership of this private equity fund and believe this investment diversifies and complements the VC fund's other targeted investments in the high-growth TMT sector."
About Perfect World Co., Ltd. (http://www.pwrd.com)
Perfect World Co., Ltd. (NASDAQ: PWRD) is a leading online game developer and operator based in China. Perfect World primarily develops online games based on proprietary game engines and game development platforms. Perfect World's strong technology and creative game design capabilities, combined with extensive knowledge and experiences in the online game market, enable it to frequently and promptly introduce popular games designed to cater changing customer preferences and market trends. Perfect World's current portfolio of self-developed online games includes massively multiplayer online role playing games ("MMORPGs"): "Perfect World," "Legend of Martial Arts," "Perfect World II," "Zhu Xian," "Chi Bi," "Pocketpet Journey West," "Battle of the Immortals," "Fantasy Zhu Xian," "Forsaken World," "Dragon Excalibur," "Empire of the Immortals" and "Return of the Condor Heroes;" an online casual game: "Hot Dance Party;" and a number of web games and social networking games. While a substantial portion of the revenues are generated in China, Perfect World operates its games in North America, Europe and Japan through its own subsidiaries. Perfect World's games have also been licensed to leading game operators in a number of countries and regions in Asia, Latin America, Australia, New Zealand, and the Russian Federation and other Russian speaking territories. Perfect World intends to continue to explore new and innovative business models and is committed to maximizing shareholder value over time.
Safe Harbor Statements
This press release contains forward-looking statements. These statements constitute forward-looking statements under the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as "will," "expects," "anticipates," "future," "intends," "plans," "believes," "estimates" and similar statements. Such statements involve certain risks and uncertainties that could cause actual results to differ materially from those in the forward-looking statements. Potential risks and uncertainties include, but are not limited to, Perfect World's limited operating history, its ability to develop and operate new games that are commercially successful, the growth of the online game market and the continuing market acceptance of its games and in-game items in China and elsewhere, its ability to protect intellectual property rights, its ability to respond to competitive pressure, its ability to maintain an effective system of internal control over financial reporting, changes of the regulatory environment in China, and economic slowdown in China and/or elsewhere. Further information regarding these and other risks is included in Perfect World's filings with the U.S. Securities and Exchange Commission, including its annual report on Form 20-F. Perfect World does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.
For further information, please contact
Perfect World Co., Ltd.
Vivien Wang – Vice President, Investor Relations & Corporate Communications
Joanne Deng – Investor Relations Manager
Christensen Investor Relations
SOURCE Perfect World Co., Ltd.