Nan Fang Du Shi Bao·2025-04-26 10:45Core Viewpoint - The performance of major A-share gaming companies in 2024 shows a significant disparity, with Perfect World maintaining the third position in revenue but suffering substantial losses, while other companies like Shenzhou Taiyue and Kaixin Network are showing better profitability and growth [1][17]. Company Performance Summary Perfect World - In 2024, Perfect World reported a revenue of 5.57 billion yuan, a decrease of 28.50% year-on-year, and a net loss of 1.29 billion yuan, marking a shift from profit to loss [2][3]. - The gaming business revenue was 5.18 billion yuan, down 23.32% from the previous year, attributed to project adjustments and underperforming game launches [2][3]. - The company underwent significant layoffs, reducing its workforce by 32% to 3,905 employees, impacting various expense categories [4][5]. Shenzhou Taiyue - Shenzhou Taiyue achieved a revenue of 6.45 billion yuan in 2024, an increase of 8.22%, with a net profit of 1.43 billion yuan, up 60.92% [10][11]. - The gaming segment generated 4.66 billion yuan, a growth of 3.66%, primarily driven by overseas player spending on the game "Age of Origins" [8][10]. Kaixin Network - Kaixin Network reported a revenue of 5.12 billion yuan, a year-on-year increase of 19.16%, and a net profit of 1.63 billion yuan, up 11.41% [12][13]. - The company saw a significant increase in overseas revenue, which grew by 221.48% to 375 million yuan, driven by successful game launches in various markets [14]. Industry Ranking - The ranking of A-share gaming companies shows that 37 Interactive Entertainment and Century Huatong remain the top two, while Perfect World, despite its revenue position, is the only major company reporting losses [16][17]. - Perfect World has been surpassed in overall revenue by Shenzhou Taiyue and is at risk of being overtaken by Kaixin Network in the near future [17].