NetEase has released its financial results for the fourth quarter and full year of 2025. The report indicates robust annual performance, with fourth-quarter revenue reaching 27.5 billion yuan and full-year revenue totaling 112.6 billion yuan. Full-year operating profit amounted to 35.8 billion yuan, representing a 21% increase compared to the previous year. Operating profit for the fourth quarter was 8.3 billion yuan, up 6% year-on-year. Annual research and development expenditure reached 17.7 billion yuan, marking the sixth consecutive year that R&D investment has exceeded 100 billion yuan.

Net revenue from games and related value-added services totaled 92.1 billion yuan, with online games contributing 89.6 billion yuan—an 11% year-on-year increase, signaling a return to double-digit growth.

The financial report highlighted the strong performance of NetEase's long-standing hit games. The PC version of the classic IP "Fantasy Westward Journey," which has been in operation for 23 years, achieved a new annual revenue record. The PC game "Tian Xia" reached its highest number of concurrent users in nearly a decade, while user payment rates also hit a historic peak. The first anniversary update of "Where Winds Meet" broke daily active user and revenue records, delivering performance that exceeded expectations with multiple new highs. The game has now surpassed 80 million users globally. "Eggy Party" also set a new record for average online time per user and continues to lead the domestic party game market.