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[Brokerage Focus] Guosen maintains Netease (09999) 'outperform market' rating, indicating strong game production capability and ample game reserves.
Jingu News | Guosen Securities issued a research report, in the third quarter of 2024, Netease (09999) achieved revenue of 26.2 billion yuan, a 4% year-on-year decrease. Non-GAAP net income attributable to shareholders was 7.5 billion yuan, a 13% year-on-year decrease; Non-GAAP net margin was 29%, a 3 percentage point decrease year-on-year. This quarter, exchange losses amounted to 1.06 billion yuan, compared to 0.4 billion yuan in the same period last year. The bank stated that according to the earnings conference, the daily active players of "World of Warcraft" increased by 50% compared to before the shutdown, and the active players of "Hearthstone" increased by over 150%. The old game "Fantasy Journey" remains stable, with August being the second in terms of active players this year.
Hong Kong stocks morning report on November 19: Hong Kong Exchanges and Clearing is preparing various optimization measures for mutual market access. Goldman Sachs predicts a 15% increase in the MSCI China Index by 2025.
① The Hong Kong Stock Exchange stated that it is preparing multiple optimization measures for mutual connectivity. ② S.F. Holding plans to issue 0.17 billion H shares through an IPO in Hong Kong. ③ Goldman Sachs expects the MSCI Chinese Index to rise by 15% by 2025. ④ Xiaomi's revenue in the third quarter increased by approximately 30% year-on-year.
Barclays Keeps Their Hold Rating on NetEase (NTES)
Nomura Adjusts NetEase's Price Target to HK$159 From HK$157, Keeps at Buy
NetEase's Fundamentals Intact, With Strong Game Pipeline -- Market Talk
NetEase ADR Target Price Raised to US$102.00 From US$100.00 by Nomura >NTES
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