NetEase Inc Ordinary Shares
09999: XHKG (HKG)
| Morningstar Rating for Stocks | Fair Value | Economic Moat | Capital Allocation |
|---|---|---|---|
| HKD 647.00 | Vdxqg | Fbqdtvr |
NetEase Earnings: Management Reassures as Growth Continues Amid Regulatory Stability
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Narrow-moat NetEase’s first-quarter earnings were in line with our expectations. Management clarified recent updates to its legacy title, Fantasy Westward Journey, confirming that these were not regulatory-driven, thereby providing reassurance to investors. With an impressive lineup of releases scheduled for this summer, NetEase is poised for a strong showing. We maintain our earnings estimates and keep our fair value estimates at USD 158 and HKD 246 per share. We continue to view shares as undervalued.