CICC has released a research report predicting that NTES-S (09999.HK) -5.400 (-2.547%) Short selling $130.12M; Ratio 7.111% will deliver steady results for 4Q25, with revenue expected to have grown by 7% YoY to RMB28.5 billion, shy of the market forecast of RMB28.8 billion.Due to potential investment and exchange losses, NTES-S' non-GAAP net profit is also estimated to have declined by 15% YoY to RMB8.25 billion, below the market expectation of RMB9.23 billion.Related NewsM Stanley Lists Top 50 CN/ HK Holdings Among Long-Only Emerging Mkt & CN Active Managers (Table)CICC has kept an Outperform rating on NTES-S, with a target price of HKD275.(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-01-29 16:25.)