NetEase Cloud Music Inc. (abbrev. NetEase Music) has released its Monthly Return for the period ended 31 March 2026, detailing a sizeable share repurchase programme that reduced the company’s outstanding share count while marginally increasing total issued shares through option exercises.

Authorised capital unchanged • The company’s authorised share capital remained at 1.00 billion ordinary shares with a par value of USD 0.0001 each, equal to total authorised capital of USD 100,000. • No change in the registered share capital was recorded during the month.

Issued and treasury share movements • Outstanding (non-treasury) shares declined by 2.36 million to 214.36 million. • Treasury shares rose by 2.38 million to 3.56 million. • Total issued shares (including treasury stock) inched up by 11,193 to 217.92 million, reflecting the net impact of share option exercises.

Buyback activity • Between 2 and 31 March 2026, the company repurchased 2.38 million shares on-market under the mandate granted on 25 June 2025. • Daily repurchase prices ranged from HKD 126.67 to HKD 151.74 per share, covering 22 trading sessions. • All repurchased shares were retained as treasury stock.

Equity incentive exercises • 11,193 new shares were issued upon exercise of options under the 2016 Pre-IPO Share Incentive Scheme, bringing in HKD 0.96 million in proceeds. • Post-exercise, 640,610 options remain outstanding under the scheme, while 14,720 restricted share units (RSUs) are unsettled. • Under the 2022 RSU Plan, 2.08 million RSUs remain outstanding and will be settled with existing shares.

Public float compliance • The company confirmed compliance with the Main Board’s 25% minimum public float requirement as at 31 March 2026.

Share capital snapshot at month-end • Authorised share capital: USD 100,000 (1.00 billion shares). • Total issued shares: 217.92 million, of which 3.56 million are held in treasury. • Shares in public hands remain above the regulatory threshold, sustaining trading liquidity.

No warrants, convertibles, or other equity-linked instruments were issued or exercised during the period, and all corporate actions were carried out in accordance with Hong Kong Listing Rules.