Welcome to our dedicated page for Youdao SEC filings (Ticker: DAO), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Youdao, Inc. filings document a foreign private issuer whose ADSs trade on the NYSE and whose business is organized around learning services, online marketing services, and smart devices. Form 6-K reports furnish press releases on financial results, annual-report filing notices, and shareholder-meeting materials.
Annual-report filings and related current reports cover segment revenue trends, ADS per-share measures, cash resources, operating cash flow, AI-focused business strategy, and risks tied to regulatory conditions, business-plan execution, and external financing. Governance disclosures include annual general meeting notices and other foreign-issuer reporting matters.
Youdao, Inc. reported first quarter 2026 net revenues of RMB1.35 billion (US$195.4 million), up 3.8% year over year, driven by 4.2% growth in learning services and 20.9% growth in online marketing services, partially offset by a 42.6% drop in smart devices revenue.
Gross profit was RMB602.3 million with a 44.7% gross margin, slightly below 47.3% a year earlier. Income from operations declined to RMB57.5 million, with operating margin narrowing to 4.3% from 8.0%, and net income attributable to ordinary shareholders fell to RMB38.6 million from RMB76.7 million.
Cash, cash equivalents, restricted cash and short-term investments fell to RMB515.2 million from RMB743.2 million as of December 31, 2025, and operating activities used RMB93.1 million of cash. The company states its ability to continue as a going concern depends on executing its business plan and continued financial support, including substantial short- and long-term loans and an extended US$300.0 million revolving loan facility from NetEase Group.
Youdao, Inc. ownership disclosure: Orbis Investment Management Limited reports beneficial ownership of 6,738,724 American Depositary Shares, representing 21.5% of the Class A ADSs. The filing states Orbis has sole voting and sole dispositive power over these ADSs. The filing is an amendment to a Schedule 13G/A and is signed on 05/15/2026.
Youdao, Inc., an AI solutions provider specializing in learning and advertising, reported that it has filed its annual report on Form 20-F for the full year ended December 31, 2025 with the U.S. Securities and Exchange Commission. The report is available on the company’s investor relations website and the SEC’s website. Shareholders and ADS holders can request hard copies free of charge by writing to the company’s investor relations office in Hangzhou, China.
Youdao, Inc., a Cayman Islands holding company listed on the NYSE via ADSs, files its annual report describing a China-focused business operated mainly through PRC subsidiaries and variable interest entities (VIEs).
The VIEs generated 77.0%, 73.4% and 66.9% of total net revenues in 2023, 2024 and 2025, and accounted for 48.8% and 53.6% of consolidated total assets as of December 31, 2024 and 2025. The filing highlights legal and operational risks of this structure, including potential PRC challenges to contractual arrangements and restrictions on cash transfers, dividends and foreign exchange.
Youdao explains U.S. regulatory risk under the Holding Foreign Companies Accountable Act, noting past PCAOB inspection issues in China and Hong Kong and the possibility that ADS trading could be prohibited if inspections are again curtailed. It also addresses new PRC oversight of overseas listings, cybersecurity review measures, and data and education regulations that could materially affect operations and ADS value.
Youdao, Inc. president Jin Lei filed an amended Form 3 reporting his existing equity holdings in the company. He holds an option over 20,000 Class A Ordinary Shares, indirect stakes in 620,000 Class B and 300,000 Class A shares through JinLei Quark Tech, Inc., plus directly held Class A shares and restricted share units with scheduled future vesting.
Youdao, Inc. director Shum Heung Yeung has filed an initial ownership report detailing equity holdings in the company. The filing shows direct ownership of 46,221 Class A Ordinary Shares, plus 14,552 Restricted Share Units that were granted on May 30, 2025 and are scheduled to vest on June 1, 2026.
He also holds three fully vested option awards over Class A Ordinary Shares, covering 4,000, 3,997 and 13,201 underlying shares, granted in 2020, 2021 and 2022 with expirations in 2027 and 2028. These entries describe existing positions rather than new market purchases or sales.
Youdao, Inc. president Jin Lei filed an initial Form 3 detailing his equity holdings in the company. The filing shows direct holdings of 26,027 Class A Ordinary Shares, 105,959 restricted share units, and an option over 20,000 Class A shares at an exercise price of $4.5 per share expiring on January 26, 2027. Indirectly, Jin Lei holds 620,000 Class B Ordinary Shares and 300,000 Class A Ordinary Shares through JinLei Quark Tech, Inc., which he wholly owns.
Youdao, Inc. director and Chief Executive Officer Zhou Feng filed an initial Form 3 reporting indirect beneficial ownership of 20,341,200 Class B ordinary shares. These shares are held of record by Peng Ke Holdings Inc., a British Virgin Islands company ultimately wholly owned by JTC Private Trust (Cayman) Limited as trustee of a Cayman trust for which Zhou Feng is the settlor and sole beneficiary.
Youdao, Inc. Senior Vice President Wu Yinghui discloses existing equity holdings in the company. The report shows stock options over 20,000 Class A ordinary shares, an indirect holding of 1,640,000 Class B ordinary shares through Ice River Tech, Inc., and 8,750 restricted share units. Footnotes state the option grant, covering 20,000 Class A shares at an exercise price of $4.5 per share, was granted on January 25, 2021 and expires on January 26, 2027. The time-based RSU award was granted on May 30, 2025, with 3,750 shares scheduled to vest on September 1, 2026 and 5,000 shares on September 1, 2027. No purchases or sales are indicated; this report describes existing positions.