According to a research report published by Haitong International, NetEase's “The Sea of Oblivion” fell short of expectations. Coupled with a high base for the third quarter of last year, the year-on-year growth forecast for game and value-added services revenue for the third quarter of this year was lowered from 9% to 7%, and the total revenue forecast was lowered to 30.2 billion yuan, or 6% year-on-year increase. The bank lowered its non-GAAP operating profit forecast for the third quarter by 3% to $12.3 billion, and by 2% to $50.7 billion for the full year. However, as investments such as Pinduoduo and Alibaba recorded returns in the third quarter and improved investment returns, the bank raised the company's non-GAAP net profit forecast for the third quarter and full year by 6% and 3% to 10.4 billion yuan and 39.8 billion yuan, respectively. The bank maintained the NetEase US stock target price of $147 and renewed the “outperforming the market” rating.

According to a research report published by Haitong International, NetEase's “The Sea of Oblivion” fell short of expectations. Coupled with a high base for the third quarter of last year, the year-on-year growth forecast for game and value-added services revenue for the third quarter of this year was lowered from 9% to 7%, and the total revenue forecast was lowered to 30.2 billion yuan, or 6% year-on-year increase. The bank lowered its non-GAAP operating profit forecast for the third quarter by 3% to $12.3 billion, and by 2% to $50.7 billion for the full year. However, as investments such as Pinduoduo and Alibaba recorded returns in the third quarter and improved investment returns, the bank raised the company's non-GAAP net profit forecast for the third quarter and full year by 6% and 3% to 10.4 billion yuan and 39.8 billion yuan, respectively. The bank maintained the NetEase US stock target price of $147 and renewed the “outperforming the market” rating.