Lates News

CICC released a report stating that NetEase announced that its first quarter revenue increased by 7% year-on-year to 28.8 billion yuan; Non-GAAP net profit increased by 32% year-on-year to 11.2 billion yuan, which exceeded the bank's and market expectations. The bank believes that the main reasons for this are the better-than-expected performance in game revenue and greater cost savings than expected. The company also announced a first quarter dividend of $0.675/ADS, totaling $428 million, with a dividend ratio of 30%. Due to the company's efficient cost control, the bank raised its Non-GAAP net profit forecasts for 2025 and 2026 by 6% each to 36.8 billion / 38.2 billion yuan, maintaining a "outperform" rating due to the adjusted profit forecast and stable game business, with a premium target price raised by 25% to 225 Hong Kong dollars and 145 US dollars.