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2026-11-11 11:49:49 CLSA published a research report stating that NetEase (09999.HK)'s new game "Sea of Remnants" delivered disappointing performance, but the broker still expects NetEase to maintain solid revenue growth. It forecast total revenue for 3Q26 to rise 6% YoY to RMB30.2 billion, while adjusted EBIT is expected to increase 31% YoY to RMB11.6 billion, benefiting from evergreen games driving online game revenue growth of 8% YoY and gross margin expansion. The broker noted that 3Q game and value-added service revenue is expected to grow 7.7% YoY to RMB25.1 billion, of which game revenue is projected to increase 7.8% YoY to RMB24.6 billion, driven by solid performances from "Fantasy Westward Journey", "Infinite Border", "Eggy Party" and "Onmyoji". "World of Warcraft: Eternity" (PC) and open-world game "Infinite" (PC/mobile) are scheduled for launch in Nov this year and Jan next year respectively, which CLSA expects to drive NetEase's game business growth next year. The broker is positive on NetEase as the world's fourth-largest gaming company, citing its advantages in integrating AI into games. The broker maintained its adjusted net profit forecasts largely unchanged, while reiterating the "Outperform" rating and USD150 TP on NetEase, Inc. (NTES.US). (gc/u)~ AASTOCKS Financial News Website: www.aastocks.com This article was automatically translated by AI, the Chinese version should be considered the authoritative version. AASTOCKS.com Limited does not guarantee its accuracy or completeness and accepts no liability for any damages or losses arising from the use of this translation. | |