NetEase, inc. - NTES STOCK NEWS

Youdao (NYSE: DAO) announced it will hold its annual general meeting (AGM) on December 12, 2024, from 3:00-5:00 PM Beijing Time at its Beijing offices. The meeting will serve as an open forum for shareholders and ADS holders to discuss company affairs with management, with no proposals requiring shareholder approval. The record date is set for December 2, 2024. Holders of Class A and Class B ordinary shares, along with ADS beneficial owners, are entitled to attend in person. The company's annual report is available on their investor relations website and SEC's website, with hard copies available upon request.

Youdao (NYSE: DAO) reported Q3 2024 financial results with total net revenues of RMB1.6 billion (US$224.1 million), a 2.2% YoY increase. The company achieved record-high operating income of RMB107.3 million, compared to a loss of RMB57.7 million in Q3 2023. While learning services revenue declined 19.2%, smart devices and online marketing services grew 25.2% and 45.6% respectively. Gross margin decreased to 50.2% from 55.9% YoY. The company reported net income of RMB86.3 million, a significant improvement from a net loss of RMB102.9 million in the same period last year. Notable developments include AI-driven subscription services growth of over 150% YoY and continued implementation of their LLM technology.

NetEase (NTES) reported Q3 2024 financial results with net revenues of RMB26.2 billion (US$3.7 billion), showing a 3.9% year-over-year decrease. The company's gaming segment revenue declined 4.2% to RMB20.9 billion, while Youdao and NetEase Cloud Music saw modest growth of 2.2% and 1.3% respectively. Net income attributable to shareholders was RMB6.5 billion (US$931.7 million), with non-GAAP earnings of US$0.33 per share. The company declared a quarterly dividend of US$0.0870 per share and continued its share repurchase program, having bought back US$1.6 billion worth of ADSs.

Youdao (NYSE: DAO), a Chinese intelligent learning company, announced it will report its third quarter 2024 financial results on Thursday, November 14, 2024, before U.S. markets open. The earnings teleconference call and webcast will be held at 5:00 a.m. Eastern Time (6:00 p.m. Beijing/Hong Kong Time) on the same day. Management will discuss quarterly results and take questions during the call. A replay will be available until November 21, 2024.

NetEase (NASDAQ: NTES, HKEX: 9999) has announced it will release its third quarter 2024 financial results on Thursday, November 14, 2024, before U.S. markets open. The company will host an earnings teleconference call with simultaneous webcast at 7:00 a.m. Eastern Time (8:00 p.m. Beijing/Hong Kong Time) on the same day. Management will discuss quarterly results and take questions during the call. A replay will be available through November 21, 2024, and the webcast replay will be accessible for 12 months on NetEase's Investor Relations website.

NetEase Cloud Music has secured an exclusive 30-day premiere rights for Kakao Entertainment's new K-POP releases in China, starting October 24, 2024. This follows their May 2024 partnership that made Kakao's entire music catalog available on the platform. The collaboration features content from popular artists like IU, Jay Park, and STAYC. NetEase Cloud Music has demonstrated strong engagement with Kakao's content, with IU's songs receiving over ten thousand comments and Lee Yong Ji's 'Small Girl' accumulating over 550,000 bookmarks. The platform maintains copyright partnerships with other major Korean music companies including SM Entertainment, YG Entertainment, and JYP.

NetEase reported strong Q2 2024 financial results with net revenues of RMB25.5 billion (US$3.5 billion), up 6.1% year-over-year. Key highlights include:

- Games and related services revenue increased 6.7% to RMB20.1 billion
- Gross profit rose 11.6% to RMB16.0 billion
- Net income was RMB6.8 billion (US$930.0 million)
- Non-GAAP net income reached RMB7.8 billion (US$1.1 billion)

The company launched popular new titles like Lost Light and Once Human, while existing games like Naraka: Bladepoint and Identity V continued strong performance. NetEase also announced plans to bring several titles to major gaming platforms and consoles. The company declared a quarterly dividend of US$0.0870 per share.

Cloud Music Inc. reported strong financial results for H1 2024:

• Revenue increased 4.1% YoY to RMB4.1 billion
• Online music services revenue up 26.6% to RMB2.6 billion
• Gross profit surged 47.7% to RMB1.43 billion
• Net profit jumped to RMB809.9 million from RMB293.8 million
• Gross margin improved to 35.0% from 24.7%

Key drivers included growth in paying subscribers, improved monetization, and operating leverage. The company expanded its content library, enhanced its community features, and upgraded its app to boost user engagement. Cloud Music aims to further diversify content, nurture its community, improve the user experience, and strengthen monetization going forward.

Youdao reported Q2 2024 financial results with total net revenues of RMB1.3 billion (US$181.9 million), a 9.5% increase year-over-year. Key highlights include:

- Net revenues from online marketing services grew 68.4% to RMB511.2 million
- Gross margin improved to 48.2% from 47.0% last year
- Operating loss narrowed significantly to RMB72.6 million from RMB289.1 million
- Net loss attributable to shareholders decreased to RMB99.5 million from RMB299.2 million

The company saw strong growth in AI-driven subscription services and online marketing, while learning services and smart device revenues declined. Youdao expects to achieve full-year positive operating income in the near future, driven by AI empowerment across business lines.