Citi has issued a research report predicting NTES-S (09999.HK)  -3.000 (-1.468%)    Short selling $191.14M; Ratio 18.969%   (NTES.US)      2Q25 results to meet expectations. The company's total revenue is anticipated to reach RMB28.3 billion, up 11% YoY but down 1.9% QoQ, while its non-GAAP net profit will come in at RMB9.46 billion, below the market expectation of RMB9.66 billion.

Supported by the robust performance of the games "FWJ Mobile", "Justice", and "Where Winds Meet", along with deferred revenue from 1Q25 partially offsetting seasonal weakness, it is believed that the company's online game revenue will hit RMB23.1 billion, up 15.2% YoY but down 4% QoQ.

Related NewsJPM Downgrades NTES-S/ BILIBILI-W to Neutral
The broker estimated 2Q sales and marketing expenses to reach RMB2.97 billion, accounting for 10.5% of total revenue. If game revenue or profit growth exceeds expectations, it will positively impact the stock price.

Citi mildly lifted its target price for NetEase's US shares from USD156 to USD157, with a Buy rating remaining in place.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-08-01 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)