Perfect World

Archosaur Games Annual Report 2025

Archosaur Games, a Hong Kong-listed mobile-game developer incorporated in the Cayman Islands and majority owned by Tencent and Perfect World, reported a 14.3% revenue rise to RMB 1,304.4 million in FY 2025, driven by the launches of Dragon Raja: Cassell Gate and Immortal Skywalker in China.

• Archosaur Games narrowed its net loss by 87.2% to RMB 36.7 million in FY 2025, driven by a 14.3% revenue increase to RMB 1,304.4 million following the launches of Dragon Raja: Cassell Gate and Immortal Skywalker.
• Operating losses decreased significantly to RMB 91.1 million from RMB 341.4 million in 2024, primarily achieved through a 19% reduction in selling and marketing expenses while maintaining flat R&D spending.
• Gross profit reached RMB 923.7 million, though the gross margin contracted to 70.8% due to increased commission costs paid to IP holders for licensed titles.

Embracer Group Interim Report: Q3 2021/22

Embracer Group’s fiscal third quarter of 2021/22 reflects a period of aggressive expansion and structural transformation, characterized by a 135% surge in net sales to SEK 5,085 million.

Embracer Group Enters into Agreement to Acquire Perfect World Entertainment

Embracer Group has entered into a definitive agreement to acquire Perfect World Entertainment (PWE) from Perfect World Europe B.V.

• Embracer Group is acquiring Perfect World Entertainment (PWE) and its subsidiary Cryptic Studios for $125 million, consisting of $60 million in cash and $65 million in shares.
• The acquired assets will be integrated into the Gearbox Entertainment business unit, with PWE’s publishing arm merging into Gearbox Publishing and Cryptic Studios remaining a standalone brand.
• The acquisition is projected to generate SEK 700 million in net sales for 2021, with operational EBIT expected to reach breakeven by the 2022/2023 fiscal year.