NetEase, inc. - NTES STOCK NEWS

NetEase (NASDAQ: NTES) announced the appointment of Grace Hui Tang as an independent director, effective July 1, 2022. With this addition, the board will have six members, five of whom are independent and two female. Tang will chair the audit, compensation, and nominating committees while serving on the environmental, social, and governance committee. She brings over 30 years of experience from PricewaterhouseCoopers and is currently a professor at Peking University. CEO William Ding expressed confidence that Tang's expertise will enhance corporate governance and support NetEase's growth strategy.

Cloud Village Inc. (HKEX: 9899), known as NetEase Cloud Music, has signed a music licensing agreement with TF Entertainment, enhancing its music catalog with artists like TFBOYS and TNT. This partnership aims to promote artists and strengthen the platform's appeal among younger audiences. NetEase Cloud Music's interactive and highly engaged user base is a key asset, highlighted by the success of the TFBOYS concert, which attracted 786,000 peak viewers. The company continues to expand its content library to cater to evolving tastes in China's music scene.

NetEase Games has appointed Emile Liang as Lead Producer for its Montréal Studio, enhancing its strategic growth in the global market. With over 20 years in the game industry, including a notable tenure at Ubisoft, Liang has worked on acclaimed titles like Far Cry 6. His experience will bolster the studio's efforts to develop triple-A games aimed at North America and beyond. This appointment follows other significant moves, including the launch of Nagoshi Studio in Japan and Jackalope Games in America.

NetEase (NTES) announced the launch of NARAKA: BLADEPOINT for Xbox Series X|S and Windows PC, available on June 23, 2022, with pre-orders starting today. This action-combat game, which has garnered over 10 million players since its PC release last August, marks the company’s entry into the global console market. Developed by NetEase, this partnership with Xbox aims to reach a broader audience, showcasing the game's unique Eastern aesthetics. This announcement was made during the Xbox & Bethesda Games Showcase 2022, highlighting NetEase's strategic growth in international gaming.

Cloud Village Inc. (HKEX: 9899), known as NetEase Cloud Music, has signed a licensing agreement with South Korea's SM Entertainment, allowing the distribution of SM's extensive music catalog. This partnership aims to enhance the promotion of K-Pop artists and deliver quality music content to Chinese fans, particularly the youth. NetEase Cloud Music has previously collaborated with major labels, indicating a robust expansion strategy. This agreement is expected to foster deeper cooperation in the music industry and strengthen NetEase's competitive position in China's streaming market.

Blizzard Entertainment has launched Diablo Immortal, the largest mobile entry in the Diablo franchise, now available for free on iOS and Android, with an open beta on Windows PC via Battle.net.

More than 35 million players pre-registered, and those logging in within 30 days can claim the Horadrim Cosmetic Set. The game features solo or multiplayer modes, cross-play, six classes, and ongoing content updates, setting a new standard in mobile gaming.

Cloud Village Inc. (HKEX: 9899), operating as NetEase Cloud Music, reported strong Q1 2022 results with revenue reaching RMB 2.1 billion, up 38.6% from RMB 1.5 billion in Q1 2021. The gross profit improved to RMB 251.6 million from a loss of RMB 54.0 million. Monthly paying users for online music services increased to 36.7 million, while social entertainment services showed remarkable growth with 1,181.7 thousand paying users. The net loss narrowed to RMB 180.0 million, a significant improvement compared to RMB 1.7 billion in the previous year.

NetEase reported Q1 2022 financial results with net revenues of RMB23.6 billion (US$3.7 billion), a 14.8% increase year-over-year. Online game services revenue rose 15.3% to RMB17.3 billion (US$2.7 billion). Youdao saw a 10.4% decline in net revenues to RMB1.2 billion (US$189.4 million). Cloud Music revenues increased by 38.6% to RMB2.1 billion (US$326.1 million). Gross profit reached RMB12.8 billion (US$2.0 billion), a 16.1% increase, while net income attributable to shareholders was RMB4.4 billion (US$693.1 million). The company announced a quarterly dividend of US$0.0644 per share.

NetEase, a leading internet services provider in China, will launch Diablo® Immortal™ in China on June 23, 2022, with over 15 million pre-registrations. During its 2022 Annual Product Launch event, NetEase announced updates for over 50 existing and upcoming titles, focusing on both mobile and PC games. The company is expanding internationally, establishing new studios in the U.S. and Japan, while enhancing its R&D capabilities. Plans for expansion packs, e-sports tournaments, and collaborations with non-profits were also revealed, showcasing NetEase's commitment to diversifying its gaming portfolio.