On August 12, NTES-S declined 3.06% in regular trading, trading at HK$196.6 with turnover of HK$201 million. The stock faced multiple headwinds ahead of its scheduled Q2 and first-half earnings release on August 20.

On the news front, prominent hundred-billion-yuan private equity firm Jinglin Asset recently disclosed its Q2 US equity holdings, revealing a massive reduction of approximately 2.589 million NTES shares, representing an 81.17% cut in its position. Meanwhile, Nomura previously noted that NetEase's Q2 adjusted profit may fall below market expectations, primarily due to investment losses incurred from holdings in Alibaba and Pinduoduo shares. Additionally, HSBC recently lowered its target price for NetEase from US$162 to US$150. The convergence of multiple negative factors as the earnings date approaches has visibly pressured market sentiment.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)