NASDAQ, PWRD - Tcw Transform Systems ETF
We commenced operations through Beijing Perfect World Network Technology Co.,
Ltd., or PW Network, a limited liability company established in China in 2004.
To enable us to raise equity capital from international investors, our holding
company, Perfect World Co., Ltd., or Perfect World, was incorporated under the
laws of the Cayman Islands in June 2006. In August 2006, we formed Beijing
Perfect World Software Co., Ltd., or PW Software, our wholly-owned subsidiary in
China. In September 2006, PW Software entered into contractual agreements with
PW Network and its equity owners, pursuant to which PW Network transferred
certain fixed assets and certain personnel to PW Software and PW Software
provides technical support and research and development services to PW Network. ...
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