Gelonghui, May 23 | NetEase (9999.HK) further extended its decline in the afternoon. At one point, it fell nearly 6% to HK$144.7, falling for the third day in a row. The stock price hit a new low since April 23, falling more than 12% for three days. NetEase will announce the results of the Hong Kong stock market today after the market. The agency expects NetEase to achieve revenue of 26.786 billion yuan in the first quarter of 2024, an increase of 6.95% year on year; earnings per share of 12.13 yuan, an increase of 17.0% year on year. In addition, Morgan Stanley published a report downgrading the NetEase US stock investment rating from “increasing holdings” to “synchronizing with the market”, and the ADR target price dropped from 120 US dollars to 100 US dollars. The bank lowered its earnings per share estimate of 6% to 12% from this year to 2026. It is expected that game revenue and net profit will increase by 6% to 7% year-on-year this year and next two years. The bank said it had already selected NetEase from the list of preferred stocks in April based on seeing multiple risks.
港股异动丨网易大跌近6%，为连续第三日下跌，今日盘后公布业绩
Changes in Hong Kong stocks 丨 NetEase plummeted by nearly 6%, for the third day in a row. Today's post-market results were announced
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