Asia Tech Wire (June 24) -- Shares of Chinese game publisher Perfect World Co Ltd (002624.SZ) fell nearly 4% to 7.76 yuan on Monday, hitting a nearly 10-year low.

The fall came after a rumor of Perfect World conducting massive layoffs surfaced widely on the Internet.

Two major office buildings within the company were allegedly nearly emptied.

There were also rumors that the game publisher was suspending two of its highly anticipated projects, Perfect New World and One Punch Man.

In response, a Perfect World source told Chinese media outlet 21st Century Business Herald, "We've always said before that the company's projects will undergo adjustments according to actual circumstances, and the [staffing adjustment] has been going on all the time."

The source also said that the two games are still under development.

As for the current specific development personnel figures, the person did not disclose them to the media outlet.