According to the China Fortune Financial APP, gf sec released a research report stating that it maintains a "buy" rating for netease-S (09999), with a fair value of HK$206.01. The company disclosed its 24Q2 performance: revenue of 25.49 billion yuan, Q2 gross margin increased by 3.08 percentage points to 62.9%. 24Q2 GAAP net income attributable to the mother was 6.759 billion yuan, non-GAAP net income attributable to the mother was 7.819 billion yuan, and non-GAAP net margin was 30.68%. Classic mobile games remain at the top, and new mobile games also perform well, with a significant improvement in the revenue ranking of Identity V.

In terms of gaming business, the new games launched by the company this year, such as "Out of the World", "Endless Anomaly Mobile Game", and "Marvel Ultimate Reversal", have contributed to the performance increase. In the second quarter, adjustments were made to the economic system of the "Journey to the West" PC game. Since the third quarter, it has become stable, and the gradual return of Blizzard's national service will also have a supplementary effect on the PC games.

From the perspective of gaming reserves, the company has reserved the card game "Marvel Contention", and the multi-terminal game "Swallows Cloud Sixteen Sounds" integrating Chinese martial arts with an open world system is expected to be launched within the year. In the long term, it is optimistic about the company's game development strength and ability to continuously produce high-quality game products. Youdao's future main global strategy will focus on AI + education dual-drive, with significant improvement in gross margin for its cloud music business.