NetEase Music (NetEase Cloud Music Inc.) disclosed a fresh on-market share buyback conducted on 28 May 2026. The company repurchased 125,800 ordinary shares on the Hong Kong Stock Exchange at prices ranging from HKD 118.10 to HKD 121.70 per share, for a total consideration of HKD 14.99 million and an average price of HKD 119.20 per share.

Following the transaction, the number of issued shares excluding treasury shares fell from 210.54 million to 210.41 million, a reduction of 0.06%. Treasury shares increased to 7.51 million, while the total issued share capital remained unchanged at 217.92 million.

The repurchase forms part of the mandate granted on 25 June 2025, which authorises the company to buy back up to 21.74 million shares. To date, NetEase Music has repurchased 7.18 million shares under this mandate, representing 3.30% of the issued share count on the mandate’s approval date.

Under Hong Kong listing rules, the company is subject to a moratorium on new share issues or treasury-share disposals until 27 June 2026.