** Hong Kong shares of NetEase 9999.HK fall 5.3% to HK$184.7, their lowest level since May 26

** Stock on course to snap three consecutive session of gains

** Stock set for the biggest one-day pct drop since April 7, 2025; fourth biggest pct loser in Hang Seng Index .HSI and Hang Seng Tech Index .HSTECH which are down 0.9% and 1.7%, respectively

** U.S.-listed stock NTES.O fell 4.1% on Wednesday

** Company said its non-GAAP net income attributable to the shareholders fell 26.8% y/y to 7.1 bln yuan ($1.03 bln) for the fourth quarter of 2025 while revenue was up 3% y/y to 27.5 bln yuan

** Jefferies, with "buy" rating on the stock, says NetEase 4Q25 total revenue and non-GAAP net income came in below consensus

** YTD, Hong Kong stock down 12.8%, U.S.-listed shares down 13.9%

($1 = 6.9022 Chinese yuan renminbi)

(Reporting by Donny Kwok)

((donny.kwok@thomsonreuters.com))