Hong Kong stocks closed on December 13,NetEase's market value reached HK$542.5 billion, surpassing Meituan's market value of HK$513.3 billion, making it the fourth largest Internet company in China by market value.It is reported that NetEase is ranked ahead of Tencent, Pinduoduo and Alibaba. According to the report,When the overall valuation of Chinese concept stocks reached its peak in February 2021, Meituan was about four NetEases. Two years and ten months later, NetEase overtook Meituan.
The report pointed out that NetEase’s market value exceeded Meituan’s because it fell less. When the Hong Kong stock market closed on December 13, NetEase only fell 21% from its peak market value in 2021.
Meituan fell by more than 80% during the same period, which was nearly 5 percentage points lower than the Chinese concept stock index KWEB.
According to NetEase’s third quarter financial report of 2023,In the third quarter, net income was 27.3 billion yuan, a year-on-year increase of 11.6%; gross profit was 17 billion yuan, a year-on-year increase of 23.4%.
Under non-GAAP accounting principles, the net profit from continuing operations attributable to the company's shareholders was 8.6 billion yuan.
Among NetEase's main businesses, the net income of the game segment in the third quarter was 21.8 billion yuan, a year-on-year increase of 16.5%, accounting for nearly 80% of the net income in the third quarter. .