Announced back in June, Perfect World recently announced it will be publishing Torchlight Mobile in China later this year , and celebrated the occasion with a new CG trailer. According to Runic Games, which is now a studio under Perfect World, Torchlight Mobile is developed primarily by Shanghai studio Fedeen Games, a Perfect World subsidiary which will be publishing the English version.
Similar to its predecessors, Torchlight Mobile is an action RPG featuring online gameplay in the unique art style of the series. Shortly after the June announcement, Runic Games mentioned they have even yet to discuss monetization models with Perfect World and Fedeen Games, which subsequently drew concerns from the Torchlight community. Hopefully the details have since ironed out!