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2026-06-29 15:51:52 JPMorgan issued a research report on NTES-S (09999.HK), which will be converted to a dual primary listing on the Hong Kong Stock Exchange starting tomorrow (30th). The broker expected NTES-S to become eligible for inclusion in the Shanghai-Hong Kong Stock Connect on the same day, as the company does not adopt a weighted voting right (WVR) structure and is already a constituent of the Hang Seng Composite Index. Based on precedents of non-WVR companies such as ZAI LAB (09688.HK) and YUM CHINA (09987.HK), firms that converted from secondary to dual primary listings were included in the Shanghai-Hong Kong Stock Connect on the effective date of the conversion. JPMorgan viewed that inclusion in the Shanghai-Hong Kong Stock Connect will allow mainland investors to trade the stock directly via southbound flows, bringing additional capital inflows and improving liquidity, which will have a positive impact on NTES-S’s share price. JPMorgan reiterated NTES-S as its top pick in the digital entertainment sector, maintaining an Overweight rating with a TP of HKD290. ~ AASTOCKS Financial News Website: www.aastocks.com | |