--- title: "JPM Expects NTES-S to Be Included in Shanghai-Hong Kong Stock Connect Upon Dual Primary Listing, Positive for Share Price" type: "News" locale: "en" url: "https://longbridge.com/en/news/291110817.md" description: "JPMorgan expects NetEase (NTES-S) to be included in the Shanghai-Hong Kong Stock Connect upon its dual primary listing conversion, boosting liquidity and share price. The bank maintains an Overweight rating with a HKD290 target price, citing strong fundamentals and a forecasted 25% operating profit increase by 2026." datetime: "2026-06-29T08:05:39.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/291110817.md) - [en](https://longbridge.com/en/news/291110817.md) - [zh-HK](https://longbridge.com/zh-HK/news/291110817.md) generator: "portal-rs" --- # JPM Expects NTES-S to Be Included in Shanghai-Hong Kong Stock Connect Upon Dual Primary Listing, Positive for Share Price JPMorgan issued a research report stating that NTES-S (09999.HK) +11.900 (+6.347%) Short selling $293.26M; Ratio 25.527% will convert to a dual primary listing on the Hong Kong Stock Exchange starting tomorrow (30th). JPM expects NTES-S to become eligible for inclusion in the Shanghai-Hong Kong Stock Connect on the same day, as the company does not adopt a weighted voting rights (WVR) structure and is already a constituent of the Hang Seng Composite Index. Based on precedents of non-WVR companies such as ZAI LAB (09688.HK) +0.280 (+2.013%) Short selling $15.66M; Ratio 18.409% and YUM CHINA (09987.HK) +4.400 (+1.392%) Short selling $8.93M; Ratio 5.902% , firms that converted from secondary to dual primary listings were included in the Shanghai-Hong Kong Stock Connect on the effective date of the conversion. JPM believes that inclusion in the Shanghai-Hong Kong Stock Connect will allow mainland investors to trade the stock directly via southbound flows, bringing additional capital inflows and improving liquidity, which will have a positive impact on NTES-S’s share price. The bank forecasts NTES-S’s operating profit to increase by 25% in 2026. It believes the recent pullback in the stock was driven by broad-based selling pressure on Chinese internet stocks rather than concerns over the company’s fundamentals. JPM reiterates NTES-S as its top pick in the digital entertainment sector, maintaining an Overweight rating with a TP of HKD290. (sl/a)(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-06-29 12:25.) ### Related Stocks - [09999.HK](https://longbridge.com/en/quote/09999.HK.md) - [NTES.US](https://longbridge.com/en/quote/NTES.US.md) - [JPM.US](https://longbridge.com/en/quote/JPM.US.md) - [0HSCI.HK](https://longbridge.com/en/quote/0HSCI.HK.md) - [09688.HK](https://longbridge.com/en/quote/09688.HK.md) - [ZLAB.US](https://longbridge.com/en/quote/ZLAB.US.md) - [09987.HK](https://longbridge.com/en/quote/09987.HK.md) - [YUMC.US](https://longbridge.com/en/quote/YUMC.US.md) - [JPM-M.US](https://longbridge.com/en/quote/JPM-M.US.md) - [JPM-C.US](https://longbridge.com/en/quote/JPM-C.US.md) - [JPM-D.US](https://longbridge.com/en/quote/JPM-D.US.md) - [JPM-L.US](https://longbridge.com/en/quote/JPM-L.US.md) - [8634.JP](https://longbridge.com/en/quote/8634.JP.md) - [JPM-K.US](https://longbridge.com/en/quote/JPM-K.US.md) - [JPM-J.US](https://longbridge.com/en/quote/JPM-J.US.md) ## Related News & Research - [Full Transcript: NetEase Q2 2026 Earnings Call](https://longbridge.com/en/news/296498824.md) - [NetEase declares USD 0.096 per share Q2 dividend](https://longbridge.com/en/news/296461799.md) - [Jefferies Cites NTES as Confident in Long-term Operation of 'Naraka: Bladepoint'; Rating Maintained at 'Buy'](https://longbridge.com/en/news/296564393.md) - [China's NetEase Q2 revenue rises 7.9% on game growth](https://longbridge.com/en/news/296462242.md) - [The Chinese internet is looking to the country's weirdest viral movie for hints at Ox Alpha's origins](https://longbridge.com/en/news/296759568.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**