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Perfect World
February 22, 2026 at 01:05 PM
New article covering company history, structure, key acquisitions, and relationship with NTE
Perfect World Co., Ltd. is a Chinese mass media company based in Beijing, founded in 2004 by Chi Yufeng. Its video game division, Perfect World Games, publishes Neverness to Everness through its subsidiary Hotta Studio.
Chi Yufeng, a 1994 graduate of Tsinghua University, founded Beijing Hongen Education and Technology in 1996 before establishing Perfect World in 2004. The company initially focused on MMORPGs for the Chinese market, developing titles like Perfect World (the flagship MMORPG) and Forsaken World.
Perfect World listed on the Nasdaq stock exchange in 2007, then delisted in 2015. In 2016, it merged with Perfect World Pictures (its film production arm, founded in 2008), and the combined entity was renamed Perfect World Co., Ltd.
The company operates through two main business segments:
Perfect World Games handles video game publishing and development.
Perfect World Pictures handles film production and entertainment content (founded 2008).
Hotta Studio (Suzhou) is the developer of Tower of Fantasy and Neverness to Everness.
Cryptic Studios was acquired from Atari SA in May 2011 for approximately 35 million euros. Cryptic was later sold to Embracer Group in December 2021.
Runic Games (creators of Torchlight) was acquired in May 2010 for $8.4 million. The studio was shut down in November 2017.
Perfect World Entertainment was Perfect World's North American subsidiary, established June 2008. It was sold to Embracer Group in December 2021 along with Cryptic Studios.
Perfect World is the exclusive distributor of Valve's Dota 2 and Counter-Strike 2 in China, making it a significant partner for Valve's competitive gaming ecosystem in the Chinese market.
Hotta Studio is a direct subsidiary of Perfect World Games. Perfect World Games publishes NTE, and the official game website is hosted at nte.perfectworld.com. The game's official NTE website, character database, and marketing materials all carry the Perfect World branding.
