PWRD » Topics » The market price of our ADSs has been and may continue to be volatile.

This excerpt taken from the PWRD 20-F filed Jun 19, 2009.

The market price of our ADSs has been and may continue to be volatile.

The trading price of our ADSs has been and may continue to be subject to wide fluctuations. During the period from July 26, 2007, the first day on which our ADSs were listed on Nasdaq, until June 18, 2009, the trading price of our ADSs has ranged from US$8.78 to US$37.00 per ADS and the closing sale price on June 18, 2009 was US$26.68 per ADS. The market price for our ADSs may continue to be volatile and subject to wide fluctuations in response to factors including the following:

 

   

actual or anticipated fluctuations in our quarterly operating results;

 

   

changes in financial estimates by securities research analysts;

 

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conditions in the online game industry;

 

   

changes in the economic performance or market valuations of other online game companies;

 

   

announcements by us or our competitors of new products or services, new revenue models, acquisitions, strategic partnerships, joint ventures or capital commitments;

 

   

addition or departure of key personnel;

 

   

fluctuations of exchange rates between the RMB and U.S. dollar or other foreign currencies;

 

   

potential litigation or administrative investigations; and

 

   

general economic or political conditions in China or any other country where one or more of our games are operated.

Volatility in global capital markets, such as impact from recent global financial services and economic crises, could also have an effect on the market price of our ADS. In addition, the securities markets have from time to time experienced significant price and volume fluctuations that are not related to the operating performance of particular companies. These market fluctuations may also materially and adversely affect the market price of our ADSs.

This excerpt taken from the PWRD 20-F filed May 16, 2008.

The market price of our ADSs has been and may continue to be volatile.

The trading price of our ADSs has been and may continue to be subject to wide fluctuations. During the period from July 26, 2007, the first day on which our ADSs were listed on Nasdaq Global Market, until May 15, 2008, the trading price of our ADSs has ranged from US$17.40 to US$37.00 per ADS and the closing sale price on May 15, 2008 was US$30.31 per ADS. The market price for our ADSs may continue to be volatile and subject to wide fluctuations in response to factors including the following:

 

   

actual or anticipated fluctuations in our quarterly operating results;

 

   

changes in financial estimates by securities research analysts;

 

   

conditions in the online game industry;

 

   

changes in the economic performance or market valuations of other online game companies;

 

   

announcements by us or our competitors of new products or services, new revenue models, acquisitions, strategic partnerships, joint ventures or capital commitments;

 

   

addition or departure of key personnel;

 

   

fluctuations of exchange rates between the RMB and U.S. dollar or other foreign currencies;

 

   

potential litigation or administrative investigations;

 

   

release of lock-up or other transfer restrictions on our outstanding ADSs or ordinary shares or sales of additional ADSs; and

 

   

general economic or political conditions in China.

In addition, the securities markets have from time to time experienced significant price and volume fluctuations that are not related to the operating performance of particular companies. These market fluctuations may also materially and adversely affect the market price of our ADSs.

EXCERPTS ON THIS PAGE:

20-F
Jun 19, 2009
20-F
May 16, 2008
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