CT-NTES@EC2702A

NPPA Releases May 2026 Game License Approval, 158 New Games Approved

Goldman Sachs Raises NetEase Target Price to HKD 260, Reaffirms Buy Rating

NetEase Releases Q1 2026 Earnings: Game Revenue and Gross Margin Beat Expectations

Analysts Raise NetEase Stock Price Target to $160.26, Potential Upside of 40%

NetEase Reports Strong Q1 Results, Bank of America Raises Target Price to $172

NetEase Ding Lei: Advance 'Forgotten Sea' Testing, Boost 'Uncharted Odyssey' Overseas Expansion

CICC raises NetEase 26/27 Non-GAAP profit forecasts to 42.2/46.7 billion RMB, maintains outperform rating

NTES-S released FY2026 Q1 earnings on May 21 After-Market (BJT), actual revenue HKD 34.68 B (forecast HKD 33.61 B), actual EPS HKD 3.7526 (forecast HKD 3.1415)

NetEase's Q1 Online Game Service Net Revenue Reaches 25.7 Billion RMB

NetEase Releases Q1 2026 Earnings Report: Net Revenue and Net Profit Both Grow

Overwatch 10th Anniversary Event Faces Rigging Allegations, Official Apologizes as Winner Suffers Cyberbullying

NetEase Products Fully Integrate DeepSeek-V4 Model to Upgrade Services

NTES-S to Release FY2026 Q1 Earnings on May 21 After-Market (BJT), Forecast Revenue HKD 34.11 B, EPS HKD 3.1263

NetEase Youdao Launches Enterprise-Level Large Model Aggregation Platform ThinkFlow

NetEase Cloud Music Fully Integrates DeepSeek-V4

NetEase Smart Enterprise Launches Controllable AI Coding Platform CodeWave

NetEase Announces Record Date for Shareholder Vote on May 26, 2026

CLSA Sees NetEase's 'Rise of Kingdoms' as a Major Growth Driver

CICC Maintains Overweight Industry Rating and Target Price for NetEase-S

JOLIMARK

TIMES UNI GP

APEX ACE HLDG

VPOWER GROUP

GW TIANDI

FUJING HOLDINGS

TEAMWAY INTL GP

SFSY NEW MAT

FDB HOLDINGS

KEEN OCEAN

03690

09999

STECH

03033

On May 28th, Hong Kong stocks experienced a significant decline, with the Hang Seng Internet ETF dropping over 3%, approaching the "tariff bottom" of April 2025. Major weighted stocks such as Alibaba, Tencent, and NetEase all fell over 2%, Baidu dropped over 3%, and MEITUAN fell over 6%. Since October of last year, the Hang Seng Internet Technology Industry Index has retraced over 37%. The main reasons include AI investment leaning towards hardware, rising overseas U.S. Treasury yields, and reduced liquidity for Hong Kong stock IPOs. Investors need to be cautious and avoid blindly selling off

- On May 28, Hong Kong stocks faced significant losses, termed "Black Thursday," with the Hang Seng Internet ETF declining over 3%.  
- Major stocks such as Alibaba, Tencent, and Meituan fell between 2% and 6%, contributing to a more than 37% maximum drawdown since last October.  
- The softness is attributed to a focus on AI hardware over software, rising U.S. Treasury yields, and liquidity concerns regarding IPOs, although current valuations may present buying opportunities.

同壁财经

MEITUAN

NTES-S

Hang Seng TECH Index

NETEASE MUSIC

Tencent Holdings Limited

Krne Csi China Internet

Dacheng Hang Seng Technology ETF(QDII)

Tianhong Hang Seng TECH ETF(QDII)

Hwabao CSI HK Equities Internet ETF

ChinaAMC Hang Seng Internet Technology Industry ETF(QDII)

Huatai-PB CSOP Hang Seng Technology ETF(QDII)

CSOP HS TECH

E Fund CSI HK Connect Internet ETF

ChinaAMC Hang Seng Technology ETF(QDII)

ISHARESHSTECH

BABA-W

Alibaba

TENCENT

Tencent

BIDU-SW

Baidu

NetEase

JD-SW

JD.com

XIAOMI-W

Xiaomi Corporation

Meituan

BABA-WR

Alibaba HK SDR 5to1

TENCENT-R

Tencent HK SDR 10to1

BIDU-SWR

JD-SWR

XIAOMI-WR

Xiaomi HK SDR 2to1

MEITUAN-WR

Meituan HK SDR 5to1

Alibaba, Tencent, and Baidu's stock prices plummet, with the Hang Seng Internet Index falling near the "tariff bottom" of April 2025

517770

GAMR

ESPO

516010

159869

HERO

NTES-S (09999.HK) rose over 3% after M Stanley and JPM raised their target prices. M Stanley increased its target price for NetEase, Inc. to USD158, citing strong overseas revenue and growth in gaming. JPM raised its target price to HKD290, highlighting improved margins and positive gaming outlook. Both firms maintained Overweight ratings, with expectations of continued revenue growth and upcoming game launches.

- NetEase, Inc. (09999.HK) opened 4.49% higher and last traded at HKD196.1, with favorable earnings forecasts prompting target price increases from brokerage firms.  
- Morgan Stanley raised its profit forecasts for 2026-2028, citing improved margins and a strong pipeline from existing and upcoming game titles, while JPM also reiterated its Overweight rating with increased target prices following solid 1Q26 results.  
- Both firms highlight robust gaming revenue performance and further margin expansion potential, with continued growth expected, particularly from the launch of the new game "Sea of Remembrance."

AASTOCKS News

AXA SPDB CSI Hugangshen Game and Culture Media ETF

Wedbush ETFMG Video Game Tech ETF

VanEck Video Gaming and eSport ETF

Guotai CSI Animation Game ETF

VanEck Gaming ETF

ChinaAMC CSI Animation Game ETF

Global X Video Games & Esports ETF

Morgan Stanley

JPMorgan Chase

MORGAN STANLEY DEP SHS EA REP 1/1000 SHS NON CUM PFD O

MORGAN STANLEY DEP SHS REPSTG 1/1000TH PFD SER Q

MORGAN STANLEY DEP SHS REPS 1/1000 7.125% PFD E

MORGAN STANLEY NON-CUM DEP SH REP 1/1000 PFD SER I

MORGAN STANLEY 4.875 DEP SHS REP 1/1000 NCUM PFD SR L

MORGAN STANLEY 6.5%DEP SHS REPSTG 1/1000 NON CUM SER P

MORGAN STANLEY DEP SHS REPS 1/1000 PFD SER 'A'

MORGAN STANLEY DEP SHS REPR 1/1000TH INT PFD SER 'F' FX

MORGAN STANLEY DEP SHS REP 1/1000 NON-CUM PFD STK SER K

JPMORGAN CHASE & CO. 4.20% DEP SHS REPSTG 1/400TH PFD SER MM

JPMORGAN CHASE & CO. 6%NON CUM DEP SHS REP 1/400TH PFD SER EE

JPMORGAN CHASE & CO. DEP REP 1/400TH (5.75% NON CUM PFD DD)

JPMORGAN CHASE & CO. 4.625% DEP SH RE 1/400TH INT NO CU PF LL

JPMorgan Chase & Co.

JPMORGAN CHASE & CO. 4.55% DEP SHS REPSTG 1/400TH PFD SER JJ

JPMORGAN CHASE & CO. 4.75 DEP SHS REP 1/400 NCUM PFD SR GG

NTES-S  Rises Over 3% as M Stanley and JPM Raise TP

On May 27th, the gaming ETF ChinaAMC (159869) rose nearly 1.5%. The National Press and Publication Administration released 158 new game licenses, of which 154 are domestic. Notable games include Tencent's "Chasing Kaledo" and NetEase's "Shadow Hidden Blade." The gaming sector is experiencing a layout window influenced by favorable policies, product cycles, and AI empowerment

- On May 27, the gaming sector saw significant growth, with the game ETF Huaxia (159869) rising nearly 1.5% and most holdings, including Xunyou Technology and Guangxi Media, increasing over 2%.  
- The National Press and Publication Administration released 158 new game licenses, 154 of which are for domestic games, with various categories covering mobile and client-based formats.  
- As of May 2026, a total of 779 game licenses have been issued, fueled by favorable policies and advancements in AI, positioning the gaming sector for potential growth opportunities.

XYKJ

Enlight Media

Alpha Group

NGDC

Rastar

KINGNET

SANQI HUYU

E-Soul

内地低碳

In May, 158 games obtained licenses, and the game ETF ChinaAMC (159869) is currently up nearly 1.5%

512480

FTXL

On May 27th, the Hang Seng Tech opened nearly 1% higher, with significant gains in Lenovo, Nio, and Hua Hong Semiconductor. U.S. semiconductor stocks surged, with Micron Technology rising over 19%. Chinese concept stocks showed mixed performance, with Futu Holdings up nearly 20%. The National Press and Publication Administration approved 158 new games, involving Tencent, Nio, and others. Related ETFs include the Hang Seng Tech ETF - Huaxia and the Hang Seng Internet ETF - Huaxia, with the latter focusing more on major internet companies

- On May 27, the Hang Seng Tech Index opened nearly 1% higher, with notable gains in Lenovo, NetEase, Huahong Semiconductor, and SMIC.  
- In the U.S. markets, semiconductors surged, with Micron Technology up over 19%, while Chinese stocks showed mixed results.  
- The National Press and Publication Administration approved 158 video games for May, primarily benefiting companies like Tencent and NetEase, with a focus on ETFs linked to the Hang Seng Tech and Internet indices.

GTJA Allianz CSI All Share Semiconductors & Semiconductor Equipment ETF

First Trust Nasdaq Food & Semicon

HS Tech opened high, semiconductors surged, Tencent and NetEase's new games approved

NTES

China's National Press and Publication Administration announced the approval information for domestic online games in May, with a total of 154 games approved. Among them are "Chasing Karedo" developed by a studio under TENCENT0.000 (0.000%) Short selling $939.48M; Ratio 6.551% and "Shadow Edge" by NTES-S0.000 (0.000%) Short selling $615.21M; Ratio 26.152% . (mn/j)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-26 16:25.)

- China's National Press and Publication Administration approved 154 domestic online games in May.  
- Notable inclusions are "Chasing Karedo" by TENCENT and "Shadow Edge" by NTES-S.  
- The short selling data indicates significant market activity, with ratios of 6.551% for TENCENT and 26.152% for NTES-S.

China Approves 154 Domestic Games in May; TENCENT  and NTES-S Included

09626

BILI

On May 26th, the gaming ETF ChinaAMC (159869) fell nearly 1%, opening a low-position layout channel. NetEase and Bilibili released their Q1 2026 financial reports, with NetEase's gaming revenue increasing by 6.9% year-on-year, while Bilibili turned a profit but saw a 12% decline in mobile gaming revenue. The gaming sector is influenced by multiple factors such as policies, product cycles, and AI empowerment, presenting layout opportunities

BILIBILI-W

Bilibili

Shunwang Technology

BINGCHUAN

Fuchun Technology

Century

全指消费

The gaming sector continues to fluctuate, and the gaming ETF ChinaAMC (159869) opens a low-position layout window

Goldman Sachs has raised its target price for NetEase-Sby 3.8% to HKD 260 and USD 166 for U.S. shares, maintaining a 'buy' rating. The bank noted strong Q1 performance in 2026, despite a weak stock price. Key highlights include a record-high profit margin and anticipated catalysts such as new game launches and a potential shift to primary listing in Hong Kong, which could enhance investor capital flows.

CoinLive

Goldman Sachs

GS Hldg R

STOCKS | Goldman Sachs Raises NetEase Target Price Amid Strong Q1 Performance

In a report released on May 22, from CICC maintained a Buy rating on Netease Inc, with a price target of HK$265.00. The company’s shares closed last Friday at HK$181.50.Meet Samuel – Your Personal Investing ProphetStart a conversation with TipRanks’ trusted, data-backed investment intelligence Ask Samuel about stocks, your portfolio, or the market and get instant, personalized insights in seconds Netease Inc has an analyst consensus of Strong Buy, with a price target consensus of HK$245.25.

- On May 22, CICC reaffirmed a Buy rating on Netease Inc, setting a price target of HK$265.00.  
- The company's shares closed at HK$181.50 last Friday.  
- Analyst consensus for Netease Inc is a Strong Buy, with a price target consensus of HK$245.25.

Tip Ranks

CICC

CICC Sticks to Its Buy Rating for Netease Inc (9999)

NetEase, Inc. (HKG:9999) reported quarterly results exceeding analyst expectations, with revenues of CN¥31b and earnings per share up 19%. Analysts have revised their forecasts, projecting revenues of CN¥121.3b and EPS of CN¥12.56 for 2026, indicating a more optimistic outlook. However, the consensus price target remains unchanged at HK$250, reflecting no significant long-term valuation changes. NetEase's growth rate aligns with industry averages, suggesting stable prospects ahead.

- NetEase, Inc. (HKG:9999) reported strong quarterly results, with revenues of CN¥31b, exceeding expectations, and an earnings per share increase of 19% above forecasts.  
- Analysts predict revenues will grow to CN¥121.3b in 2026, reflecting a 6.1% increase, with earnings per share estimated to rise 17% to CN¥12.56, indicating improved sentiment.  
- Despite the positive earnings outlook, the consensus price target remains unchanged at HK$250, suggesting limited long-term impact on the stock’s valuation.

Simplywall

Earnings Beat: NetEase, Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

CT-NTES@EC2702A(29681.HK)