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<Research>HSBC Research Trims NTES-S (09999.HK) TP to $265, Cuts 2026-2028 Earnings Forecasts by 6-7%
NetEase (NTES.US)'s US stock has fallen 18% YTD, reflecting lower sector valuation and a lack of new game launches, HSBC Global Research issued a research report saying. The br...
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<Research>HSBC Research Trims NTES-S (09999.HK) TP to $265, Cuts 2026-2028 Earnings Forecasts by 6-7%
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NetEase (NTES.US)      's US stock has fallen 18% YTD, reflecting lower sector valuation and a lack of new game launches, HSBC Global Research issued a research report saying.

The broker lowered its 2026-2028 non-GAAP net profit forecasts by 6-7%, mainly due to reduced projections for Sword of Justice, Where Winds Meet and other long-tail mobile games.

Related News CLSA Expects NetEase, Inc. (NTES.US) Game "Where Winds Meet" to Be Growth Engine This Year; Rates Outperform
HSBC Global Research predicted NetEase to deliver weak 1H26 performance due to the absence of new game launches and a high base effect, but anticipated game growth catalysts in 2H26 and 2027 driven by the launches of Sea of Remnants and Ananta.

Therefore, the broker trimmed its target price for NTES-S (09999.HK)  -2.400 (-1.290%)    Short selling $306.89M; Ratio 27.977%   's H-shares from $289 to $265, with rating kept at Buy.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2026-05-14 16:25.) (Real-time Streaming US Stocks Quote; Except All OTC quotes are at least 15 minutes delayed.)

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