＜Research＞CICC Expects NTES-S (09999.HK) to Post Solid 2Q Results, Focuses on 'Naraka：Bladepoint' Mobile to Boost 3Q Results

　　CICC released a research report estimating that NTES-S (09999.HK) -2.000 (-1.388%) Short selling $181.05M; Ratio 18.834% 's 2Q24 revenue will rise 6% YoY and fall 6% QoQ to RMB25.3 billion, compared to the market's estimation of RMB26.1 billion.

　　NTES-S' new game performance in 3Q24 will be outstanding, and may restart QoQ growth, according to the report. The online user scale of the Naraka：Bladepoint mobile game was in line with expectations.

　　Related NewsUBS: Mkt Expectations on NetEase's 'Naraka Bladepoint Mobile' to Rise if Game Can Keep Ranking Top 3 in Bestseller List

　　CICC was optimistic about the release of large DAU product leverage sell-through and the Company's ability to extend it.

　　Considering the delay of the launch of PC version of “Where Winds Meet”, CICC slightly reduced its 2024/ 2025 non-GAAP net profit by 2% to RMB32.7 billion/ RMB36.4 billion each, and kept rating at Outperform, with a target price of $206.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-07-26 16:25.)

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