Report
Tian Hou
EUR 130.54 For Business Accounts Only

NTES: While Promotions Lead to Better e-Commerce and Higher Popularity of Two New Games in 4Q17, Margin Is Likely To Be Under Pressure; Maintain BUY As NTES Has Released More Games In 1Q18

NTES will report 4Q17 results on Wednesday, February 7th after the close of the market followed by an 8pm EST conference call. We are cautious ahead of earnings, as the slowdown in game revenue is likely to be negative to the company’s topline growth.

Underlying
NetEase Inc. Sponsored ADR

Provider
T.H. Capital
T.H. Capital

​T.H. Capital is an independent research and investment advisory firm specializing in China. We offers real-time, on-the-ground, bottom-up research across a wide spectrum from macro and industry analysis to company specific projects; from China ADRs to international names that have meaningful exposure to China market. We deliver relevant, comprehensive and data driven research adding immense value to clients.

Analysts
Tian Hou

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