On July 29, NTES-S rose 3.11% in regular trading, trading at 205.8 HKD/share, with turnover of HKD 412 million, extending gains from the prior session.

On the news front, multiple institutional catalysts are supporting the stock. Nomura expects NTES-S Q2 online gaming and value-added services revenue to grow 6% year-over-year, driven by resilient performance of evergreen titles including Fantasy Westward Journey PC, Eggy Party, and Naraka: Bladepoint. The newly launched title Forgotten Sea is estimated to generate monthly gross revenue of RMB 200-300 million, which Nomura believes will accelerate H2 gaming business growth. The firm maintains a Buy rating.

Additionally, Citi highlighted that the latest batch of 197 game licenses represents the largest single-batch approval in five years, signaling continued regulatory support for the gaming industry ahead of the summer peak season. Institutions noted that NTES-S benefits from a low H2 revenue base, accelerated share buybacks, and new product catalysts, with valuation recovery potential.

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