Glonghui, March 1 | Yamato published a report saying that NetEase's online game revenue and profit for the fourth quarter of last year were 5% and 7% lower than market expectations, respectively. It is believed that new games to be launched in the future, such as “Legend of Shooter Heroes” at the end of March and “16 Sounds of Yan Yun” in the second quarter, will become a short-term catalyst for the stock price, maintaining its “buy” rating. The target price was raised from HK$215 to HK$220. According to the report, NetEase's gross profit margin for online games last quarter was 69.5%, up 10.4 percentage points year-on-year. It mainly benefited from the increase in revenue contributions from its own games and non-Android distribution channels. Based on its strong game product line, revenue from already launched games is also stable, and NetEase's profit prospects are still optimistic.