Perfect World Revenues Up 17%

Press Release, 5/19/08

Chinese online game developer and operator Perfect World (Nasdaq: PWRD) has announced its unaudited financial results for Q1 2008, with net revenues reaching RMB 303.2 mln (USD 43.2 mln), up 247.8% year-on-year and 17.3% quarter-on-quarter.

Net income for the quarter came to RMB 158.4 mln (USD 22.6 mln), up 295.8% YoY and 8.3% QoQ.

Q1 2008 online game operation revenues were RMB 264.5 mln (USD 37.7 mln), an increase of 14.9% over the previous quarter.

Average concurrent users (ACU) for the period were approximately 660,000, up 5.8% over the previous quarter. Average revenue per user (ARPU) for games under the item-based revenue model was RMB 151, an increase of 7.0%, or RMB 10, from the previous quarter.

Overseas licensing revenues were RMB 38.7 mln (USD 5.5 mln) an increase of 37.2% over Q4 2007.

The company estimates Q2 2008 revenues will be between RMB 303 mln and RMB 318 mln, an increase of 0%-5% over Q1.

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