Overview
NetEase (NASDAQ:NTES) shares gained roughly 2% in pre‑market trading on Thursday following the company’s conversion to a dual‑primary listing on the Hong Kong Stock Exchange, which became effective on June 30. The conversion removed the “S” designation from its stock name and made the shares eligible for Stock Connect.
Listing Conversion Details
HKEx confirmed that more than 55% of NetEase’s total worldwide trading volume by dollar value had migrated to Hong Kong markets over the 2025 fiscal year. NetEase received a formal notice from HKEx on February 27 indicating this threshold had been met. The company filed a migration‑exchange announcement on June 26 and elected to become dual‑primary listed rather than utilise the 12‑month grace period that would have extended to February 27, 2027.
New Game Announcement
NetEase also announced the upcoming July launch of its new game Sea of Remnants. A pre‑release live‑streaming event held on June 26 revealed the official public testing date, multiple storyline endings, in‑game rewards, and IP collaborations. The game completed its final beta test phase between May 28 and June 19.
Analyst Commentary
Citi analysts stated that the dual‑primary listing “should draw increasing fund flow supporting its share price performance.” Citi maintained a Buy rating with a target price of $174 per share and opened a 30‑day positive short‑term view on the stock. The analysts described NetEase as a defensive play, highlighting resilient gaming profits, consistent dividend payouts, and the absence of heavy AI investment.
Corporate Governance Update
Effective from the Hong Kong primary listing date, NetEase appointed Ms. Lai Janette Tin Yun and Ms. Li Ching Man as joint company secretaries.
This article was generated with the support of AI and reviewed by an editor.