China Internet: Rewarding shareholders in 2023; emerging strategic growth prospects in 2024.

Given the stabilising revenue growth and abundant cash on hand, mega-cap internet companies have been focusing on offering generous shareholder returns. For 2024, we expect consumption behaviour to switch to service and experience, which will continue to benefit OTA players. We believe other China internet names will outperform with overseas expansion and SFV players will continue to gain market shares with potential for take rate increases. Maintain MARKET WEIGHT.

NetEase Inc: 1 director

A director at NetEase Inc sold 10,000 shares at 108.200USD and the significance rating of the trade was 100/100. Is that information sufficient for you to make an investment decision? This report gives details of those trades and adds context and analysis to them such that you can judge whether these trading decisions are ones worth following. Included in the report is a detailed share price chart which plots discretionary trades by all the company's directors over the last two years clearly showing Close periods where trading activity is restricted under listing rules. The names of board ...

NTES 4Q23 Results: Gaming Could Remain Resilient Driven by New Titles in 2024

What's new: NetEase’s reported 4Q23 results were below consensus and our expectations. Gaming could remain resilient in 2024 partly driven by new title launches such as Condor Heroes, Where Winds Meet, and Naraka Bladepoint mobile. We maintain our PT at USD125. Analysts: Jin Yoon

2025 outlook for datacenter AI, BEVs slow, Hybrids accelerate, AMD GPUs, and much more. The Weekly Wrap-Up.

NSR Policy: ACP’s Perils of Pauline

In this Weekend Update, we review the multiple activities affecting the prospects for an ACP extension, including one legislative solution that was pulled from a mark-up, a Senate hearing on the subject, and an effort to attach an extension to FAA reauthorization. Our bottom line remains: 1. With the ACP funds about to run out, recipients in May or June are likely to start having to make hard choices about what they are willing to pay for. 2. We agree with the consensus in government and industry that Congress is highly unlikely to provide an extension, but efforts will continue, as the numb...

Autumn for Broadband 1Q24

In this installment of our Autumn for Broadband series, we provide a quick update on trends in the broadband market based on what we have seen from the companies that have reported so far. Industry net adds were substantially weaker in 1Q24 with all technologies seeing slower growth (except DSL which was flat). Cable was impacted the most.