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NTES (Trans): GPM lifted to 70.5%; new titles' reception needs work
Aug 20 at 01:30 PM
09999-3.05%NTES-1.83%
NTES: No Cash Burn, Still Riding Legacy Titles; Balance Sheet Stays Strong
Aug 20 at 01:07 PM
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NetEase 2Q26 First Take: Q2 results were decent, but headline profit looked like a miss, mainly due to investment losses. Alibaba and PDD fell over 20% in Q2, leading to an approx. RMB 3 bn net loss on the investment portfolio. Ex-portfolio swings, the core OP rose 33% YoY, which is solid. Profit growth outpaced revenue as high-GPM self-developed titles took a larger mix, including self-developed PC games such as 'Where Winds Meet‌' and contribution from evergreen franchises. Further helped by tighter S&M and G&A, with lower employee incentives and controlled external UA. A weak spot was deferred revenue. While it beat BBG consensus, estimates may have been skewed; on the data, deferred revenue fell 12% QoQ in Q2, wider than typical seasonality.Beyond Cloud Music’s impact, this also underscores a lack of new launches. With 'Sea of Oblivion' underperforming and distribution-access tailwinds already played out, the H2 pipeline gap may continue to cap upside. On the plus side, high-margin evergreen titles provide a firm floor, and the Apple tax cut offers some incremental benefit. On a low base, NetEase is still positioned to deliver relatively steady performance in H2. $NTES(09999.HK) $NetEase(NTES.US)
Aug 20 at 10:24 AM
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New U.S. tariffs take effect today; Tencent Cloud launches R&D agent CodeBuddy NPC | Daily News Recap
Jul 24 at 08:29 AM
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NTES (Trans): High bar for 'Ananta', willing to delay for quality
May 21 at 04:03 PM
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NTES: Profitable Through the Lull; Franchise Quality Still Rising
May 21 at 03:18 PM
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NTES (Trans): '遗忘之海' launch slips to Q3; '无限大' still being polished
Feb 11 at 03:35 PM
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NTES: The 'Pig Farm' Must Still Tough It Out---
Feb 11 at 02:53 PM
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NetEase Q4 FY25 First Take: Q4 came in below consensus, likely on softer mobile game performance, which also helps explain the recent share pullback. That said, deferred revenue held up, underpinned by a strong year-end anniversary event for 'Yanyun' (mobile) and a rebound in 'Eggy Party', which should add some upside to Q1 revenue. Core profitability improved on tighter opex. Total cost of revenue, R&D, and G&A all declined YoY. Selling expenses rose YoY off a low base during the prior year's anti-fraud clean-up, alongside necessary launch marketing for new titles. Adj. profit fell 27% YoY, materially below expectations, though the headline looks worse than the underlying. Beyond the top-line miss, the shortfall mainly reflected mark-to-market swings on its PDD stake, with total investment losses of RMB 1.7bn, RMB 1.2bn wider YoY. After the game VAT rumor and the short-term hit from Genie, the stock has barely rebounded in recent days, yet valuation is already near historical trough levels. Conversely, this also reflects concerns that the recent slowdown in bookings could persist. We are not more bearish on the mid-to-long term. For near-term price action, clear guidance on the new title cycle is critical, especially launch plans for 'Sea of Oblivion' and 'Infinity'—worth watching on the call. $NTES(09999.HK) $NetEase(NTES.US)
Feb 11 at 09:45 AM
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The Saturday Spread: Using the Markov Property to Find Mispriced Opportunities (PANW, NTES, DKS)
Barchart Option·Jan 17 at 03:16 PM
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NetEase (SEHK:9999) Valuation Check After Executive Vice President Retirement In Core Gaming Unit
Simplywall·Jan 6 at 08:45 PM
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Best Streaming Stocks To Watch Now - January 4th
Market Beat·Jan 4 at 08:03 PM
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UBS Sticks to Its Buy Rating for Netease Inc (9999)
Tip Ranks·Dec 31, 2025 at 12:25 AM
- UBS analyst has maintained a Buy rating on Netease Inc with a price target of HK$288.60 as of December 29. - The company's shares closed at HK$216.20, reflecting a potential upside. - Netease Inc holds an analyst consensus of Strong Buy and a price target consensus of HK$257.96.
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Music Stocks To Follow Today - December 28th
Market Beat·Dec 28, 2025 at 08:04 PM
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NetEase CEO Yingfeng Ding retires after 23 years.getCode=NetEase" or entity" " 9999.
Unusual Whales·Dec 26, 2025 at 09:18 PM
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