NetEase Inc (NetEase) is an internet technology company based in China which provides online services centred around content, community, communication and commerce. NetEase was founded in June 1997 by William Lei Ding, and develops and operates online PC and mobile games, advertising services, email services and e-commerce platforms in China.
While NetEase operates primarily in China, NetEase.com Inc was incorporated in the Cayman Islands on 6 July 1999. The company changed its name to NetEase Inc with effect from 29 March 2012.
NetEase's games include the Westward Journey series (Fantasy Westward Journey, Westward Journey Online II, Fantasy Westward Journey II, and New Westward Journey Online II), Tianxia III, Heroes of Tang Dynasty Zero, and Ghost II. NetEase also partners with Blizzard Entertainment (based in the United States) to operate versions of Warcraft III, World of Warcraft, Hearthstone, StarCraft II, Diablo III: Reaper of Souls, Overwatch in China, The RPG game Onmyoji ,and The Onmyoji Arena MOBA.
In September 2019, NetEase sold its Kaola e-commerce business to Alibaba for USD 2 billion. As a result, historical financial information for Kaola, which formed a part of NetEase's e-commerce segment, are now reflected in NetEase's consolidated financial statements as discontinued operations.
NetEase is listed on the NASDAQ under the code NTES.
Effective in the third quarter of 2019, NetEase changed its segment disclosure to add the financial results of certain advertising services and Yanxuan into the company's innovative businesses and others segment. In addition, NetEase commenced reporting the results of Youdao as a separate segment, due to its listing on the New York Stock Exchange in October 2019. Consequently, NetEase now reports through three (3) segments: online game services, Youdao and innovative businesses and others.
Online games services - NetEase's online games business focuses on providing games in a range of genres through mobile devices and PCs, including role playing games, or RPG, MMORPGs, battle arena games, simulation games, or SLGs, collectible card games, or CCGs, first-person shooter games, sandbox games and other types of games to the Chinese market. For the financial year end 31 December 2019, the online games and services segment accounted for 78.36% (RMB 46,422.6 million) of total net revenues.
Innovative businesses and others - NetEase offers a range of other online services, which include NetEase CC (a live video streaming platform), NetEase Cloud Music (a music streaming platform), NetEase Youdao Education, including Youdao Courses (an online platform offering educational content and a number of educational solutions), EaseRead (an online reading platform), and NetEase Pay (a payment platform). The innovative businesses and others segment also includes Yanxuan, which primarily sells NetEase's private label products, including apparel, homeware, kitchenware and other general merchandise. For the financial year end 31 December 2019, the innovative businesses and others segment accounted for 19.44% (RMB 11,513.6 million) of total net revenues.
Youdao - Youdao Inc (Youdao) is the featured search engine of NetEase's web portal, 163.com, which lets users search for web pages, images, news, music, blogs, Chinese-to-English dictionary entries, and more. Youdao also offers online courses and other learning products and services. For the financial year end 31 December 2019, Youdao Inc accounted for 2.20% (RMB 1,304.9 million) of total net revenues.
Note: Kaola was sold to Alibaba in September 2019 for USD 2 billion, prompting the change in segment reporting.
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