＜Research＞G Sachs: NetEase Fundamentals Improving; Upside Risk Still Bigger than Downside

　　Goldman Sachs said in its report that NTES-S (09999.HK) +0.300 (+0.199%) Short selling $221.38M; Ratio 14.016% had announced the launch of its Naraka Bladepoint Mobile on 25 July, in line with its original guidance of a July-August launch.

　　According to the broker, there were positive responses to the testing of the game, including optimizations to balance picture quality and performance. Although TENCENT (00700.HK) -5.600 (-1.466%) Short selling $699.92M; Ratio 15.471% s Honour of Fight will woo diverse game demand, its development is at an early stage compared with that of Naraka Bladepoint Mobile.

　　Related NewsJefferies: CN NPPA Supports Prosperous, Healthy Development of Online Game Sector

　　The broker tracked more than 170 servers that have been running for more than three years, including the Fantasy Westward Journey, and that token depreciation persisted on 88 of those servers, while the rest showed initial signs of improvement. Based on improving fundamentals, reset market expectations and a valuation that is still just above the 10-year low, the broker believed that there are more upside risks than downside risks to NTES-S' share price, and continued to rate the stock a Buy with a target price of $196.

　　(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2024-06-26 16:25.)

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