According to Citi's research report, NTES-S (09999.HK)  +21.900 (+13.028%)    Short selling $496.88M; Ratio 12.594%   (NTES.US)      recorded stronger-than-expected game revenue for 1Q25, which rose by 15% YoY to RMB23.4 billion, beating the broker's forecast of RMB21.77 billion. The company's non-GAAP net profit also increased by 32% YoY to RMB11.2 billion, exceeding the broker's expectations by 24%.

NTES-S' outperformance was attributable to the positive results delivered by its games like "Marvel Rivals" and "Where Winds Meet", as well as the promising momentum since Blizzard's return and the stable performance of FWJ.

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Entering this year's 2Q and 3Q, new games such as "Marvel Mystics Mayhem" will help NTES-S expand the user base, while enhancing its global recognition with successful performance, said the report.

Citi raised its target price for NTES-S' US shares from USD118 to USD156 and kept the Buy rating unchanged, after factoring in the company's diversified and stable revenue sources.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-05-16 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)