NetEase Inc ADR (NTES)

Shares of NetEase Inc ADR (NTES) stock dropped by 16.07% from $104.41 to $87.64 in the trading on Friday, December 22, 2023. The reason why NTES down today is due to the unveiling of new Chinese regulations aimed at curbing spending on online gaming.

• China's Gaming Regulations: The Chinese government is concerned about excessive spending and time devoted to online gaming by youth, similar to earlier actions taken in 2021 targeting the for-profit education sector. These regulations aim to restrict companies from using incentives to encourage more gameplay and spending online.
• Proposed Restrictions: The draft rules may include limits on minors participating in gaming lotteries, banning minors from tipping game livestream hosts, ending volume discounts for in-game purchases, and stopping rewards for daily log-ins. These measures continue China's efforts to regulate children's activities and spending habits.

NetEase Inc. Stock (NTES) dropped by 2.37% from $115.08 to $112.35 in the trading on Thursday November 16, 2023. The reasons why NTES stock down today include:

• NMixed Q3 earnings results: NetEase reported third-quarter FY23 revenue growth of 11.6% year-on-year to $3.74 billion, missing the consensus of $3.8 billion. China's second-largest gaming player's adjusted EPADS of $1.82 beat the consensus of $1.46.
• CFO Transition: Charles Zhaoxuan Yang resigned as CFO effective November 30, 2023, for personal reasons and to pursue other career interests. Yang will remain with the Company as a consultant until June 30, 2024.