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NetEase
COMPANY PROFILE

NetEase established in 1997 and delivers premium content and services. It started as a Chinese internet portal in the late 1990s, and established media and e-mail services that continue to thrive today; strategically expanded into online games in 2001, which now becomes the second largest mobile game company in the world in terms of combined iOS and Google Play user spending in 2019, according to App Annie; launched Youdao business in 2006 that eventually became an NYSE-listed intelligent learning platform; introduced NetEase Cloud Music, a music streaming platform, in 2013; and opened e-commerce platform Yanxuan in 2016, which quickly emerged as a destination for private label merchandise.

The Group currently offers over 140 mobile and PC games across a wide range of genres. It also incubated and developed in-house a pipeline of innovative and successful businesses, including intelligent learning and other businesses, ranging from music streaming and private label e-commerce to internet media, e-mail services and others.

As of December 31, 2019, NetEase had over 1.0 billion registered e-mail users and over 800 million NetEase Cloud Music registered users. It also had over 100 million Youdao average MAUs in 2019. In 2019, overseas games revenues accounted for 11% of the Group total games revenues.

Yanxuan is NetEase e-commerce platform that primarily sells private label products with a strong emphasis on quality and value for money. Product categories include apparel, homeware, kitchenware and other general merchandise which it primarily sources from original design manufacturers in China. NetEase Media is a弓 internet media platform in China delivering professional news and other quality information to users.

BASIC INFORMATION
MarketHong Kong (Main Board)
Business NatureSoftware & Services
Websiteir.netease.com
Board Lot100
Registrar & Transfer OfficeComputershare Hong Kong Investor Services
GLOBAL OFFERING
No. of Offer Shares171m shares
No. of International Offer Shares5.15m shares
No. of HK Offer Shares166m shares
Offer Price$126.00
Nominal ValueUS$ 0.0001 each
Stock Code9999
Joint SponsorsChina International Capital Corporation Hong Kong Securities, Credit Suisse (Hong Kong), J.P. Morgan Securities (Far East)
Joint Global Coordinators and Joint BookrunnersChina International Capital Corporation Hong Kong Securities, Credit Suisse (Hong Kong),J.P. Morgan Securities (Asia Pacific), J.P. Morgan Securities plc, J.P. Morgan Securities LLC
Joint BookrunnersABCI Capital, BOCI Asia, CCB International Capital, Citigroup Global Markets Asia, Citigroup Global Markets, CMB International Capital, The Hongkong and Shanghai Banking Corporation, Huatai Financial Holdings (Hong Kong), ICBC International CapitalICBC International Capital, US Tiger Securities, UBS AG
TIME TABLE
Application PeriodJun 2 (Tue) - Noon, Jun 5 (Fri)
Price Determination DateOn or Before 5pm, Jun 5 (Fri)
Result Announcement DateOn or Before Jun 10 (Wed)
Dispatch of Shares and Refund ChequesOn or Before Jun 10 (Wed)
Dealings in Shares commence onJun 11, 2020. (Thu)
Reallocation of Shares Offered
Times of HK Offer Shares Subscription10X - 15X15X - 20XOver 20X
% of total shares reallocated to HK Offer6%9%12%
DIRECTORS
DirectorWilliam Lei Ding
Independent DirectorAlice Cheng, Denny Lee, Joseph Tong, Lun Feng, Michael Leung, Michael Tong
MAJOR SHAREHOLDERS
Director William Lei Ding44.7%
Orbis Investment5.1%
INCOME STATEMENT (RMB'000)
(Year ended Dec 31)
201920182017
Revenue59,241,14551,178,57544,437,355
Gross Profit31,555,30027,346,14925,043,041
Pre-Taxed Profit16,383,33311,076,74913,839,579
Attributable Profit for the period21,237,5166,152,40710,707,939
OFFER STATISTICS (HK$)
Offer Price$126.00
Capitalization$432,100m
Unaudited pro forma adj NAV / share$26.07
USE OF PROCEEDS
Based upon an indicative offer price of $126.00, the net proceeds raised would be HK$21,279.0m, of which:
* $9,575.6m (45.0%) for globalization strategies and opportunities;
* $9,575.6m (45.0%) for fueling continued pursuit of innovation;
* the balance of $2,127.8m (10.0%) as additional working capital.
CHART
IPO NEWS
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RELATED STOCK COMPARISON
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09988BABA-SWup220.8006.4002.985%
09999NTES-Sdown133.800-1.100-0.815%
Remark: The above information is referenced from the prospectus.
  All data is calculated from the non- exercise rights(if applicable).
  Quote data is at least 15-min delayed,last updated: 03/07/2020 17:58
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