Trefis, US Securities Research Institute, released a study today

The main contents of the report are as follows:

The world's second-quarter revenue rose 13.5%, up 4.7% to $115.4 million, up from 5% to 10% per cent of the quarter-on-quarter growth forecast. Recently introduced new games, including "Saint Fighter Star Online" and "No Winter Night Online" is the key growth momentum. The perfect World also released strong third-quarter revenue forecasts. We believe that the perfect world's revenue growth will continue to accelerate over the next few quarters, thanks to the release of new games, strong gaming product lines and international business expansion.

However, the second quarter of the perfect world's profits are under pressure, which is in line with our expectations. Gross margin of 75.5%, lower than the first quarter of 76.5% and 2012 the same period of 81.3%. This is mainly due to the increase in human costs, copyright costs, sales-related taxes and data center costs. Operating margins were 9.5%, far below the 21.3% in the first quarter and 22.9% in the same period in 2012. This is because sales and marketing costs and research and development costs rose 102% and 10% respectively. The increase in sales marketing costs is mainly due to the introduction of new games and related promotional activities. We believe that the perfect world's profits will continue to be under pressure this year because of high cost. (Lili)