On September 25, NTES fell 3.11% in regular trading, trading at HKD 180.7/share, with turnover of HKD 165 million. The decline came after the company disclosed its first-half earnings the previous day, revealing that adjusted net profit fell approximately 9% year-over-year to RMB 19.0 billion, drawing significant market attention.

Specifically, NTES reported first-half revenue of RMB 60.7 billion, up approximately 7% year-over-year, with gaming and related value-added services contributing RMB 50.7 billion, up approximately 8%, remaining the primary revenue driver. Gross profit reached RMB 42.4 billion, rising approximately 16%, while operating costs declined roughly 9%. However, increases in selling and marketing expenses as well as R&D investment pushed total operating expenses to RMB 17.7 billion, weighing on overall profitability.

On the institutional front, Goldman Sachs recently maintained a Buy rating on NTES with a 12-month target price of HKD 263, based on a sum-of-the-parts valuation methodology, while noting potential flow deceleration in Q3 due to a high base effect. Separately, Guotou Securities International initiated coverage with a Buy rating and a target price of HKD 220, citing the company's transition from scale-oriented to profit-oriented growth.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)