NetEase

9999 · HKEX · HKD

$186.20−3.32%−$6.40

Close · October 2, 2026

At a glance

Revenue growth: +6.96%; 2025 vs 2024
Net income growth: +13.68%; 2025 vs 2024
Net margin: 30.0%; 2024: 28.2%

Financial data

Amounts in millions of CNY; per-share values in CNY; shares in millions.

Balance sheet · Quarterly
Item	Q2 2026	Q1 2026	Q4 2025	Q3 2025	Q2 2025	Q1 2025	Q4 2024	Q3 2024	Q2 2024	Q1 2024	Q4 2023	Q3 2023
Total assets	232,208	231,397	221,415	214,489	208,499	200,858	195,992	184,896	183,343	195,065	185,925	171,575
Current assets	192,064	188,659	180,615	171,210	162,950	157,671	153,325	140,579	138,153	151,792	142,693	127,565
Cash and equivalents	22,815	50,815	47,168	31,327	54,431	41,749	51,383	20,184	18,982	43,027	21,429	15,116
Short-term investments	152,578	120,089	117,072	117,766	92,258	98,366	86,289	103,803	103,874	91,569	105,374	95,710
Receivables	5,746	6,493	7,198	5,962	5,776	6,742	8,158	6,173	6,365	7,768	9,252	6,492
Inventory	512	546	689	637	592	518	572	614	574	604	695	722
Net property, plant and equipment	8,180	8,311	8,746	8,517	8,447	8,454	9,061	8,200	8,092	8,057	8,824	7,582
Goodwill	—	—	1,855	—	—	—	1,855	—	—	—	1,855	—
Other intangible assets	3,982	4,015	4,995	4,079	4,111	4,141	5,585	4,205	4,022	4,049	5,960	4,110
Long-term investments	21,596	3,045	21,458	2,845	2,935	3,025	23,231	4,025	3,940	1,050	22,833	2,221
Current liabilities	55,618	57,437	52,369	50,089	50,452	49,138	49,668	45,712	45,928	60,049	53,842	43,869
Accounts payable	702	781	643	718	695	565	721	755	792	871	881	863
Long-term debt	—	—	—	—	—	—	428	428	428	428	428	428
Total debt	12,604	10,955	6,730	7,350	11,276	—	—	—	—	—	—	—
Total liabilities	60,646	62,048	56,311	53,557	54,395	52,989	53,497	49,168	48,997	64,426	57,841	47,630
Total equity (incl. minority)	171,562	169,349	165,104	160,932	154,104	147,869	142,494	135,728	134,345	130,638	128,084	123,945
Retained earnings	161,568	—	152,212	—	—	—	132,288	—	—	—	113,756	—
Minority interest	4,471	4,627	4,808	4,676	4,517	4,035	3,809	3,578	3,435	3,363	3,798	3,966