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JHTan
2021-05-18
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NetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote>
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2021-03-22
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stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621327069,"share":"https://www.laohu8.com/m/news/1134593226?lang=zh_CN&edition=full","pubTime":"2021-05-18 16:37","market":"hk","language":"en","title":"NetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134593226","media":"Tiger Newspress","summary":"NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2","content":"<p>NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.</p><p><blockquote>网易公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Net revenues wereRMB20.5 billion(US$3.1 billion), an increase of 20.2% compared with the first quarter of 2020.</li><ul><li>Online game services net revenues wereRMB15.0 billion(US$2.3 billion), an increase of 10.8% compared with the first quarter of 2020.</li><li>Youdaonet revenues wereRMB1.3 billion(US$204.5 million), an increase of 147.5% compared with the first quarter of 2020.</li><li>Innovative businesses and others net revenues wereRMB4.2 billion(US$640.4 million), an increase of 39.7% compared with the first quarter of 2020.</li></ul><li>Gross profit wasRMB11.1 billion(US$1.7 billion), an increase of 17.9% compared with the first quarter of 2020.</li><li>Total operating expenses wereRMB6.8 billion(US$1.0 billion), an increase of 38.6% compared with the first quarter of 2020.</li><li>Net income attributable to the Company's shareholders wasRMB4.4 billion(US$677.5 million). Non-GAAP net income attributable to the Company's shareholders wasRMB5.1 billion(US$775.5 million).[1]</li><li>Basic net income per share wasUS$0.20(US$1.01per ADS). Non-GAAP basic net income per share wasUS$0.23(US$1.16per ADS).[1]</li></ul>NetEase stock jumped nearly 3% in premarket trading.</p><p><blockquote><ul><li>净收入为人民币205亿元（31亿美元），较2020年第一季度增长20.2%。</li><ul><li>网络游戏服务净收入为人民币150亿元（23亿美元），较2020年第一季度增长10.8%。</li><li>有道网收入为13亿元人民币（2.045亿美元），较2020年第一季度增长147.5%。</li><li>创新业务及其他净收入为42亿元人民币（6.404亿美元），较2020年第一季度增长39.7%。</li></ul><li>毛利润为人民币111亿元（17亿美元），较2020年第一季度增长17.9%。</li><li>总营业费用为人民币68亿元（10亿美元），较2020年第一季度增长38.6%。</li><li>归属于公司股东的净利润为44亿元人民币（6.775亿美元）。非公认会计准则归属于公司股东的净利润为51亿元人民币（7.755亿美元）。[1]</li><li>每股基本净利润为0.20美元（每股美国存托凭证1.01美元）。非GAAP基本每股净利润为0.23美元（每股ADS 1.16美元）。[1]</li></ul>网易股价在盘前交易中上涨近3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/bc2549fcc7867a4b807fca2309fd8739\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p><b>First Quarter 2021 and Recent Operational Highlights</b></p><p><blockquote><b>2021年第一季度及近期运营亮点</b></blockquote></p><p><ul><li>Attracted new users and expanded portfolio with new game introductions including:</li><ul><li><i>Revelation</i>mobile game,<i>Yu-Gi-Oh! Duel Links</i>,<i>Elysium of Legends</i>and<i>Pokémon Quest</i>, all of which were well received after their launches.</li><li><i>Infinite Lagrange</i>in European markets in late April, with plans for additional market introductions in the near-term.</li></ul><li>Delivered strong performances from longstanding flagship titles including the<i>Fantasy Westward Journey</i>and<i>Westward Journey Online</i>series, and maintained popularity of other hit titles including<i>Life-After</i>,<i>Invincible</i>and<i>Onmyoji</i>.</li><li>Progressed strong game pipeline with thrilling titles planned for launch in the coming months including<i>Harry Potter: Magic Awakened</i>,<i>The Lord of the Rings: Rise to War</i>,<i>Nightmare Breaker</i>,<i>Diablo®Immortal™</i>and<i>Ghost World Chronicle.</i></li><li>AdvancedYoudao'slearning services and learning products, increasingYoudao'snet revenues by 147.5% year-over-year toRMB1.3 billion(US$204.5 million), and drove operating efficiency with total gross profit margin reaching 57.3% in the first quarter of 2021, the highest level sinceYoudao'sIPO inOctober 2019.</li></ul>\"2021 is off to a strong start with our total net revenues climbing toRMB20.5 billion, up approximately 20% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director ofNetEase. \"Net revenues from our online game services grew toRMB15.0 billionin the first quarter supported by the impressive longevity of our time-honored flagship games, as well as newer titles that broaden and diversify our games portfolio. As we near the launch of additional exciting new titles for global audiences in the coming months, we are confident we can deepen our international market presence. Our other businesses also performed wellin the first quarter, with solid year-over-yearnet revenues growth fromYoudao,<i>NetEase Cloud Music</i>and<i>Yanxuan</i>.Leveraging our innovation and technical skills, we plan to bring even more creative products and high-quality services to our users,\"Mr. Dingconcluded.</p><p><blockquote><ul><li>通过推出新游戏吸引新用户并扩大产品组合，包括：</li><ul><li><i>启示</i>手机游戏，<i>游戏王！决斗链接</i>,<i>传奇极乐世界</i>和<i>神奇宝贝任务</i>，推出后均受到好评。</li><li><i>无限拉格朗日</i>四月下旬在欧洲市场上市，并计划在短期内推出更多市场。</li></ul><li>长期旗舰游戏表现强劲，包括<i>梦幻西游</i>和<i>大话西游在线</i>系列，并保持其他热门游戏的受欢迎程度，包括<i>来世</i>,<i>不可战胜的</i>和<i>阴阳师</i>.</li><li>开发强大的游戏渠道，计划在未来几个月推出激动人心的游戏，包括<i>哈利波特：魔法觉醒</i>,<i>指环王：战争崛起</i>,<i>噩梦破坏者</i>,<i>迪亚布罗®不朽的™</i>和<i>幽灵世界编年史。</i></li><li>推进有道的学习服务和学习产品，使有道的净收入同比增长147.5%至13亿元人民币（2.045亿美元），并提高了运营效率，2021年第一季度总毛利率达到57.3%，创2019年10月有道IPO以来的最高水平。</li></ul>网易首席执行官兼董事丁威廉先生表示：“2021年开局良好，我们的总净收入攀升至人民币205亿元，同比增长约20%。”“得益于我们历史悠久的旗舰游戏令人印象深刻的悠久历史，以及扩大和多元化我们游戏组合的新游戏，我们的在线游戏服务净收入在第一季度增长至人民币150亿元。随着我们即将推出更多令人兴奋的新游戏未来几个月将面向全球观众推出新游戏，我们有信心能够深化我们的国际市场影响力。我们的其他业务在第一季度也表现良好，有道净收入同比稳健增长，<i>网易云音乐</i>和<i>严轩</i>凭借我们的创新和技术技能，我们计划为用户带来更多创意产品和优质服务。”</blockquote></p><p><table><tbody><tr><td>[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" at the end of this announcement.</p><p><blockquote><table><tbody><tr><td>[1]本公告中使用的非公认会计准则归属于公司股东的净利润以及非公认会计准则每股基本和稀释净利润以及每股美国存托凭证的定义不包括股权激励费用。请参阅本公告末尾的“未经审计的公认会计原则和非公认会计原则业绩调节表”。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b>First Quarter 2021 Financial Results</b></p><p><blockquote><b>2021年第一季度财务业绩</b></blockquote></p><p><u>NetRevenues</u></p><p><blockquote><u>净收入</u></blockquote></p><p>Net revenues wereRMB20,517.2 million(US$3,131.5 million) for the first quarter of 2021, compared toRMB19,761.7 millionandRMB17,062.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度净收入为205.172亿元人民币（31.315亿美元），而上一季度和2020年第一季度分别为197.617亿元人民币和170.624亿元人民币。</blockquote></p><p>Net revenues from online game services wereRMB14,981.8 million(US$2,286.7 million) for the first quarter of 2021, compared toRMB13,400.2 millionandRMB13,518.2 millionfor the preceding quarter and the first quarter of 2020, respectively. Net revenues from mobile games accounted for approximately 72.8% of net revenues from online game services for the first quarter of 2021, compared to 72.4% and 70.3% for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度网络游戏服务净收入为149.818亿元人民币（22.867亿美元），而上一季度和2020年第一季度分别为134.002亿元人民币和135.182亿元人民币。2021年第一季度，手机游戏净收入约占在线游戏服务净收入的72.8%，而上一季度和2020年第一季度分别为72.4%和70.3%。</blockquote></p><p></p><p>Net revenues fromYoudaowereRMB1,339.9 million(US$204.5 million) for the first quarter of 2021, compared toRMB1,106.8 millionandRMB541.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度优道净收入为13.399亿元人民币（2.045亿美元），而上一季度和2020年第一季度分别为11.068亿元人民币和5.414亿元人民币。</blockquote></p><p>Net revenues from innovative businesses and others wereRMB4,195.6 million(US$640.4 million) for the first quarter of 2021, compared toRMB5,254.8 millionandRMB3,002.7 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度，创新业务和其他业务的净收入为41.956亿元人民币（6.404亿美元），而上一季度和2020年第一季度分别为52.548亿元人民币和30.027亿元人民币。</blockquote></p><p><u>Gross Profit</u></p><p><blockquote><u>毛利</u></blockquote></p><p>Gross profit wasRMB11,052.6 million(US$1,687.0 million) for the first quarter of 2021, compared toRMB9,927.8 millionandRMB9,377.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度毛利润为人民币110.526亿元（16.87亿美元），而上一季度和2020年第一季度分别为人民币99.278亿元和人民币93.776亿元。</blockquote></p><p>The quarter-over-quarter and year-over-year increases in online game services gross profit were mainly due to increased net revenues from both mobile and PC games, including the newly launched<i>Revelation</i>mobile game and other existing games.</p><p><blockquote>在线游戏服务毛利润环比和同比增长主要是由于移动和PC游戏的净收入增加，包括新推出的<i>启示</i>手机游戏和其他现有游戏。</blockquote></p><p>The quarter-over-quarter and year-over-year increases inYoudaogross profit were primarily attributable to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>优道毛利润环比和同比增长主要归因于净收入的大幅增长、规模经济的改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>The quarter-over-quarter decrease in innovative businesses and others gross profit was primarily due to a decrease in gross profit from advertising services due to seasonality. The year-over-year increase was primarily due to the improved performance of<i>NetEase Cloud Music</i>.</p><p><blockquote>创新业务及其他毛利环比下降主要是由于季节性导致广告服务毛利下降。同比增长主要是由于<i>网易云音乐</i>.</blockquote></p><p><u>Gross Profit Margin</u></p><p><blockquote><u>毛利率</u></blockquote></p><p>Gross profit margin for online game services was 64.6% for the first quarter of 2021, compared to 63.1% and 64.1% for the preceding quarter and the first quarter of 2020, respectively. Gross profit margin for online game services was generally stable, fluctuating within a narrow band based on the revenue mix of mobile and PC games, as well as self-developed and licensed games.</p><p><blockquote>2021年第一季度，网络游戏服务的毛利率为64.6%，而上一季度和2020年第一季度分别为63.1%和64.1%。网络游戏服务的毛利率总体稳定，基于手机和PC游戏以及自主开发和授权游戏的收入组合在窄幅波动。</blockquote></p><p>Gross profit margin forYoudaowas 57.3% for the first quarter of 2021, compared to 47.5% and 43.5% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter and year-over-year increases were mainly due to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>2021年第一季度，优道的毛利率为57.3%，而上一季度和2020年第一季度分别为47.5%和43.5%。环比和同比增长主要是由于净收入大幅增长、规模经济改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>Gross profit margin for innovative businesses and others was 14.4% for the first quarter of 2021, compared to 18.0% and 15.8% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was primarily due to seasonality.</p><p><blockquote>2021年第一季度，创新业务及其他的毛利率为14.4%，而上一季度和2020年第一季度分别为18.0%和15.8%。环比下降主要是由于季节性。</blockquote></p><p><u>Operating Expenses</u></p><p><blockquote><u>营业费用</u></blockquote></p><p>Total operating expenses wereRMB6,777.1 million(US$1,034.4 million) for the first quarter of 2021, compared toRMB6,915.8 millionandRMB4,891.2 millionfor the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was mainly due to lower marketing expenditures related to online game services and innovative businesses and others. The year-over-year increase was mainly due to increased marketing expenditures related toYoudaoand other businesses, as well as higher staff-related costs and research and development investments.</p><p><blockquote>2021年第一季度总运营费用为67.771亿元人民币（10.344亿美元），而上一季度和2020年第一季度分别为69.158亿元人民币和48.912亿元人民币。环比下降主要是由于与网络游戏服务和创新业务等相关的营销支出减少。同比增长主要是由于与有道等业务相关的营销支出增加，以及员工相关成本和研发投资增加。</blockquote></p><p><u>Other Income/ (Expenses)</u></p><p><blockquote><u>其他收入╱（开支）</u></blockquote></p><p>Other income/ (expenses) consisted of investment (losses)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to unrealized exchange gains arising from the Company'sU.S.dollar-denominated bank deposits and short-term loan balances as the exchange rate of theU.S.dollar against the RMB fluctuated over the periods, as well as investment income arising from fair value changes of equity investments with readily determinable fair value. The year-over-year increase was mainly due to investment income arising from fair value changes of equity investments with readily determinable fair value.</p><p><blockquote>其他收入╱（开支）包括投资（亏损）╱收入、利息收入、汇兑收益╱（亏损）及其他。环比增长主要是由于期内美元兑人民币汇率波动，公司美元计价银行存款和短期借款余额产生的未实现汇兑收益，以及公允价值易于确定的股权投资公允价值变动产生的投资收益。同比增加主要是公允价值易于确定的股权投资公允价值变动产生的投资收益所致。</blockquote></p><p><u>Income Taxes</u></p><p><blockquote><u>所得税</u></blockquote></p><p>The Company recorded a net income tax charge ofRMB1,273.4 million(US$194.4 million) for the first quarter of 2021, compared toRMB552.7 millionandRMB1,082.0 millionfor the preceding quarter and the first quarter of 2020, respectively. The effective tax rate for the first quarter of 2021 was 22.0%, compared to 37.2% and 21.5% for the preceding quarter and the first quarter of 2020, respectively. The effective tax rate represents certain estimates by the Company regarding the tax obligations and benefits applicable to it in each quarter.</p><p><blockquote>该公司2021年第一季度的所得税净额为人民币12.734亿元（1.944亿美元），而上一季度和2020年第一季度分别为人民币5.527亿元和人民币10.82亿元。2021年第一季度的有效税率为22.0%，而上一季度和2020年第一季度分别为37.2%和21.5%。实际税率代表公司对每个季度适用于其的纳税义务和福利的某些估计。</blockquote></p><p><u>Net Income and Non-GAAP Net Income</u></p><p><blockquote><u>净利润和非公认会计准则净利润</u></blockquote></p><p>Net income attributable to the Company's shareholders totaledRMB4,439.2 million (US$677.5 million) for the first quarter of 2021, compared toRMB975.7 millionandRMB3,551.0 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度归属于公司股东的净利润总计44.392亿元人民币（6.775亿美元），而上一季度和2020年第一季度分别为9.757亿元人民币和35.51亿元人民币。</blockquote></p><p></p><p>Non-GAAP net income attributable to the Company's shareholders for the first quarter of 2021 totaledRMB5,080.7 million(US$775.5 million), compared toRMB1,597.9 millionandRMB4,212.9 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度非公认会计准则归属于公司股东的净利润总计50.807亿元人民币（7.755亿美元），而上一季度和2020年第一季度分别为15.979亿元人民币和42.129亿元人民币。</blockquote></p><p>NetEasereported basic net income ofUS$0.20per share (US$1.01per ADS) for the first quarter of 2021, compared toUS$0.04per share (US$0.22per ADS) andUS$0.17per share (US$0.84per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度基本净利润为每股0.20美元（每股美国存托凭证1.01美元），而上一季度和第一季度分别为每股0.04美元（每股美国存托凭证0.22美元）和每股0.17美元（每股美国存托凭证0.84美元）。2020年第一季度。</blockquote></p><p>NetEasereported non-GAAP basic net income ofUS$0.23per share (US$1.16per ADS) for the first quarter of 2021, compared toUS$0.07per share (US$0.36per ADS) andUS$0.20per share (US$1.00per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度非GAAP基本净利润为每股0.23美元（每ADS 1.16美元），而上一季度为每股0.07美元（每ADS 0.36美元）和每股0.20美元（每ADS 1.00美元）。分别为2020年第一季度和第一季度。</blockquote></p><p><b>QuarterlyDividend</b></p><p><blockquote><b>季度股息</b></blockquote></p><p>The board of directors has approved a dividend ofUS$0.0600per share (US$0.3000per ADS) for the first quarter of 2021, to holders of ordinary shares and holders of ADSs as of the close of business onJune 3, 2021, Hong Kong Time and New York Time, respectively, payable inU.S.dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East, Wanchai,Hong Kongno later than4:30 p.m.onJune 3, 2021(Hong Kong Time). The payment date is expected to be onJune 15, 2021for holders of ordinary shares and on or aroundJune 18, 2021for holders of ADSs.</p><p><blockquote>董事会已批准向截至香港时间2021年6月3日收盘时的普通股持有人和美国存托凭证持有人派发2021年第一季度每股0.0600美元（每股美国存托凭证0.3000美元）的股息和纽约时间，分别以美元支付。普通股持有人须于2021年6月3日下午4时30分（香港时间）前将所有有效股份过户文件连同有关股票送交本公司的香港股份过户登记分处香港中央证券登记有限公司办理登记手续，地址为香港湾仔皇后大道东183号合和中心17楼1712-1716号舖。普通股持有人的付款日期预计为2021年6月15日，美国存讬股持有人的付款日期预计为2021年6月18日左右。</blockquote></p><p>NetEasepaid a dividend ofUS$0.0464per share (US$0.2320per ADS) for the first quarter of 2020 inJune 2020, a dividend ofUS$0.0594per share (US$0.2970per ADS) for the second quarter of 2020 inSeptember 2020, a dividend ofUS$0.0390per share (US$0.1950 per ADS) for the third quarter of 2020 inDecember 2020and a dividend ofUS$0.0120per share (US$0.0600per ADS) for the fourth quarter of 2020 inMarch 2021.</p><p><blockquote>网易于2020年6月支付了2020年第一季度每股0.0464美元（每股美国存托凭证0.2320美元）的股息，于2020年9月支付了2020年第二季度每股0.0594美元（每股美国存托凭证0.2970美元）的股息，于2020年12月支付了每股0.0390美元（每股美国存托凭证0.1950美元）的股息，于2021年3月支付了2020年第四季度每股0.0120美元（每股美国存托凭证0.0600美元）的股息。</blockquote></p><p>The Company's policy is to set quarterly dividends at an amount equivalent to approximately 20%-30% of the Company's anticipated net income after tax in each fiscal quarter. The determination to make dividend distributions and the amount of such distributions in any particular quarter will be made at the discretion of the board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.</p><p><blockquote>公司的政策是将季度股息设定为相当于公司每个财政季度税后预期净利润的约20%-30%。任何特定季度的股息分配和此类分配金额将由董事会酌情决定，并将基于公司的运营和盈利、现金流、财务状况和其他相关因素。</blockquote></p><p><b>Other Information</b></p><p><blockquote><b>其他资料</b></blockquote></p><p>As ofMarch 31, 2021, the Company's total cash and cash equivalents, current and non-current time deposits and short-term investments balance totaledRMB106,249.6 million(US$16,216.9 million), compared toRMB100,099.6 millionas ofDecember 31, 2020. Cash flows generated from operating activities wasRMB5,542.7 million (US$846.0 million) for the first quarter of 2021, compared toRMB8,214.2 millionandRMB6,500.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>截至2021年3月31日，公司现金及现金等价物、流动和非流动定期存款以及短期投资余额总计人民币106,249.6百万元（162.169亿美元），而截至2020年12月31日为人民币100,099.6百万元。2021年第一季度经营活动产生的现金流为人民币55.427亿元（8.46亿美元），而上一季度和2020年第一季度分别为人民币82.142亿元和人民币65.006亿元。</blockquote></p><p><b>Share RepurchaseProgram</b></p><p><blockquote><b>股份回购计划</b></blockquote></p><p>OnFebruary 26, 2020, the Company announced that its board of directors had approved a share repurchase program of up toUS$1.0 billionof the Company's outstanding ADSs for a period not to exceed 12 months beginning onMarch 2, 2020. OnMay 19, 2020, the Company announced that its board of directors had approved an amendment to such program to increase the total authorized repurchase amount toUS$2.0 billion. Under the terms of this program,NetEasemay repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. At the end of this program onMarch 1, 2021, approximately 22.8 million ADSs had been repurchased for a total cost ofUS$1.8 billion.</p><p><blockquote>2020年2月26日，该公司宣布，其董事会已批准一项股票回购计划，从2020年3月2日开始，回购期限不超过12个月，最多可回购10亿美元的公司已发行ADS。2020年5月19日，该公司宣布董事会已批准对该计划的修正案，将授权回购总额增加至20亿美元。根据该计划的条款，网易可以在纳斯达克全球精选市场的公开市场交易中回购其已发行和流通在外的美国存托凭证。截至2021年3月1日该计划结束时，已回购约2280万股美国存讬股，总成本为18亿美元。</blockquote></p><p>OnFebruary 25, 2021, the Company announced that its board of directors had approved a new share repurchase program of up toUS$2.0 billionof the Company's outstanding ADSs and ordinary shares in open market transactions for a period not to exceed 24 months beginning onMarch 2, 2021. The extent to whichNetEaserepurchases its ADSs and ordinary shares will depend upon a variety of factors, including market conditions. This program may be suspended or discontinued at any time. As ofMarch 31, 2021, approximately 1.3 million ADSs had been repurchased under this program for a total cost ofUS$0.1 billion.</p><p><blockquote>2021年2月25日，该公司宣布，其董事会已批准一项新的股票回购计划，从2021年3月2日开始，在公开市场交易中回购高达20亿美元的公司已发行ADS和普通股，期限不超过24个月。网易回购其美国存讬股和普通股的程度将取决于多种因素，包括市场状况。该计划可能会随时暂停或终止。截至2021年3月31日，该计划已回购约130万股美国存讬股，总成本为1亿美元。</blockquote></p><p>**The United Statesdollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. Translations of amounts from RMB intoUnited Statesdollars for the convenience of the reader were calculated at the noon buying rate ofUS$1.00=RMB6.5518onMarch 31, 2021as set forth in the H.10 statistical release of theU.S.Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate onMarch 31, 2021, or at any other certain date. The percentages stated are calculated based on RMB.</p><p><blockquote>**本公告所披露的美元金额仅为方便读者而呈列。为方便读者，人民币对美元的换算按美国H.10统计发布中规定的2021年3月31日中午1.00美元=6.5518元人民币计算。联邦储备委员会。概不表示人民币金额本可或可于2021年3月31日或任何其他若干日期按该汇率兑换为美元。所列百分比以人民币计算。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 16:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.</p><p><blockquote>网易公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Net revenues wereRMB20.5 billion(US$3.1 billion), an increase of 20.2% compared with the first quarter of 2020.</li><ul><li>Online game services net revenues wereRMB15.0 billion(US$2.3 billion), an increase of 10.8% compared with the first quarter of 2020.</li><li>Youdaonet revenues wereRMB1.3 billion(US$204.5 million), an increase of 147.5% compared with the first quarter of 2020.</li><li>Innovative businesses and others net revenues wereRMB4.2 billion(US$640.4 million), an increase of 39.7% compared with the first quarter of 2020.</li></ul><li>Gross profit wasRMB11.1 billion(US$1.7 billion), an increase of 17.9% compared with the first quarter of 2020.</li><li>Total operating expenses wereRMB6.8 billion(US$1.0 billion), an increase of 38.6% compared with the first quarter of 2020.</li><li>Net income attributable to the Company's shareholders wasRMB4.4 billion(US$677.5 million). Non-GAAP net income attributable to the Company's shareholders wasRMB5.1 billion(US$775.5 million).[1]</li><li>Basic net income per share wasUS$0.20(US$1.01per ADS). Non-GAAP basic net income per share wasUS$0.23(US$1.16per ADS).[1]</li></ul>NetEase stock jumped nearly 3% in premarket trading.</p><p><blockquote><ul><li>净收入为人民币205亿元（31亿美元），较2020年第一季度增长20.2%。</li><ul><li>网络游戏服务净收入为人民币150亿元（23亿美元），较2020年第一季度增长10.8%。</li><li>有道网收入为13亿元人民币（2.045亿美元），较2020年第一季度增长147.5%。</li><li>创新业务及其他净收入为42亿元人民币（6.404亿美元），较2020年第一季度增长39.7%。</li></ul><li>毛利润为人民币111亿元（17亿美元），较2020年第一季度增长17.9%。</li><li>总营业费用为人民币68亿元（10亿美元），较2020年第一季度增长38.6%。</li><li>归属于公司股东的净利润为44亿元人民币（6.775亿美元）。非公认会计准则归属于公司股东的净利润为51亿元人民币（7.755亿美元）。[1]</li><li>每股基本净利润为0.20美元（每股美国存托凭证1.01美元）。非GAAP基本每股净利润为0.23美元（每股ADS 1.16美元）。[1]</li></ul>网易股价在盘前交易中上涨近3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/bc2549fcc7867a4b807fca2309fd8739\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p><b>First Quarter 2021 and Recent Operational Highlights</b></p><p><blockquote><b>2021年第一季度及近期运营亮点</b></blockquote></p><p><ul><li>Attracted new users and expanded portfolio with new game introductions including:</li><ul><li><i>Revelation</i>mobile game,<i>Yu-Gi-Oh! Duel Links</i>,<i>Elysium of Legends</i>and<i>Pokémon Quest</i>, all of which were well received after their launches.</li><li><i>Infinite Lagrange</i>in European markets in late April, with plans for additional market introductions in the near-term.</li></ul><li>Delivered strong performances from longstanding flagship titles including the<i>Fantasy Westward Journey</i>and<i>Westward Journey Online</i>series, and maintained popularity of other hit titles including<i>Life-After</i>,<i>Invincible</i>and<i>Onmyoji</i>.</li><li>Progressed strong game pipeline with thrilling titles planned for launch in the coming months including<i>Harry Potter: Magic Awakened</i>,<i>The Lord of the Rings: Rise to War</i>,<i>Nightmare Breaker</i>,<i>Diablo®Immortal™</i>and<i>Ghost World Chronicle.</i></li><li>AdvancedYoudao'slearning services and learning products, increasingYoudao'snet revenues by 147.5% year-over-year toRMB1.3 billion(US$204.5 million), and drove operating efficiency with total gross profit margin reaching 57.3% in the first quarter of 2021, the highest level sinceYoudao'sIPO inOctober 2019.</li></ul>\"2021 is off to a strong start with our total net revenues climbing toRMB20.5 billion, up approximately 20% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director ofNetEase. \"Net revenues from our online game services grew toRMB15.0 billionin the first quarter supported by the impressive longevity of our time-honored flagship games, as well as newer titles that broaden and diversify our games portfolio. As we near the launch of additional exciting new titles for global audiences in the coming months, we are confident we can deepen our international market presence. Our other businesses also performed wellin the first quarter, with solid year-over-yearnet revenues growth fromYoudao,<i>NetEase Cloud Music</i>and<i>Yanxuan</i>.Leveraging our innovation and technical skills, we plan to bring even more creative products and high-quality services to our users,\"Mr. Dingconcluded.</p><p><blockquote><ul><li>通过推出新游戏吸引新用户并扩大产品组合，包括：</li><ul><li><i>启示</i>手机游戏，<i>游戏王！决斗链接</i>,<i>传奇极乐世界</i>和<i>神奇宝贝任务</i>，推出后均受到好评。</li><li><i>无限拉格朗日</i>四月下旬在欧洲市场上市，并计划在短期内推出更多市场。</li></ul><li>长期旗舰游戏表现强劲，包括<i>梦幻西游</i>和<i>大话西游在线</i>系列，并保持其他热门游戏的受欢迎程度，包括<i>来世</i>,<i>不可战胜的</i>和<i>阴阳师</i>.</li><li>开发强大的游戏渠道，计划在未来几个月推出激动人心的游戏，包括<i>哈利波特：魔法觉醒</i>,<i>指环王：战争崛起</i>,<i>噩梦破坏者</i>,<i>迪亚布罗®不朽的™</i>和<i>幽灵世界编年史。</i></li><li>推进有道的学习服务和学习产品，使有道的净收入同比增长147.5%至13亿元人民币（2.045亿美元），并提高了运营效率，2021年第一季度总毛利率达到57.3%，创2019年10月有道IPO以来的最高水平。</li></ul>网易首席执行官兼董事丁威廉先生表示：“2021年开局良好，我们的总净收入攀升至人民币205亿元，同比增长约20%。”“得益于我们历史悠久的旗舰游戏令人印象深刻的悠久历史，以及扩大和多元化我们游戏组合的新游戏，我们的在线游戏服务净收入在第一季度增长至人民币150亿元。随着我们即将推出更多令人兴奋的新游戏未来几个月将面向全球观众推出新游戏，我们有信心能够深化我们的国际市场影响力。我们的其他业务在第一季度也表现良好，有道净收入同比稳健增长，<i>网易云音乐</i>和<i>严轩</i>凭借我们的创新和技术技能，我们计划为用户带来更多创意产品和优质服务。”</blockquote></p><p><table><tbody><tr><td>[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" at the end of this announcement.</p><p><blockquote><table><tbody><tr><td>[1]本公告中使用的非公认会计准则归属于公司股东的净利润以及非公认会计准则每股基本和稀释净利润以及每股美国存托凭证的定义不包括股权激励费用。请参阅本公告末尾的“未经审计的公认会计原则和非公认会计原则业绩调节表”。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b>First Quarter 2021 Financial Results</b></p><p><blockquote><b>2021年第一季度财务业绩</b></blockquote></p><p><u>NetRevenues</u></p><p><blockquote><u>净收入</u></blockquote></p><p>Net revenues wereRMB20,517.2 million(US$3,131.5 million) for the first quarter of 2021, compared toRMB19,761.7 millionandRMB17,062.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度净收入为205.172亿元人民币（31.315亿美元），而上一季度和2020年第一季度分别为197.617亿元人民币和170.624亿元人民币。</blockquote></p><p>Net revenues from online game services wereRMB14,981.8 million(US$2,286.7 million) for the first quarter of 2021, compared toRMB13,400.2 millionandRMB13,518.2 millionfor the preceding quarter and the first quarter of 2020, respectively. Net revenues from mobile games accounted for approximately 72.8% of net revenues from online game services for the first quarter of 2021, compared to 72.4% and 70.3% for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度网络游戏服务净收入为149.818亿元人民币（22.867亿美元），而上一季度和2020年第一季度分别为134.002亿元人民币和135.182亿元人民币。2021年第一季度，手机游戏净收入约占在线游戏服务净收入的72.8%，而上一季度和2020年第一季度分别为72.4%和70.3%。</blockquote></p><p></p><p>Net revenues fromYoudaowereRMB1,339.9 million(US$204.5 million) for the first quarter of 2021, compared toRMB1,106.8 millionandRMB541.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度优道净收入为13.399亿元人民币（2.045亿美元），而上一季度和2020年第一季度分别为11.068亿元人民币和5.414亿元人民币。</blockquote></p><p>Net revenues from innovative businesses and others wereRMB4,195.6 million(US$640.4 million) for the first quarter of 2021, compared toRMB5,254.8 millionandRMB3,002.7 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度，创新业务和其他业务的净收入为41.956亿元人民币（6.404亿美元），而上一季度和2020年第一季度分别为52.548亿元人民币和30.027亿元人民币。</blockquote></p><p><u>Gross Profit</u></p><p><blockquote><u>毛利</u></blockquote></p><p>Gross profit wasRMB11,052.6 million(US$1,687.0 million) for the first quarter of 2021, compared toRMB9,927.8 millionandRMB9,377.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度毛利润为人民币110.526亿元（16.87亿美元），而上一季度和2020年第一季度分别为人民币99.278亿元和人民币93.776亿元。</blockquote></p><p>The quarter-over-quarter and year-over-year increases in online game services gross profit were mainly due to increased net revenues from both mobile and PC games, including the newly launched<i>Revelation</i>mobile game and other existing games.</p><p><blockquote>在线游戏服务毛利润环比和同比增长主要是由于移动和PC游戏的净收入增加，包括新推出的<i>启示</i>手机游戏和其他现有游戏。</blockquote></p><p>The quarter-over-quarter and year-over-year increases inYoudaogross profit were primarily attributable to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>优道毛利润环比和同比增长主要归因于净收入的大幅增长、规模经济的改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>The quarter-over-quarter decrease in innovative businesses and others gross profit was primarily due to a decrease in gross profit from advertising services due to seasonality. The year-over-year increase was primarily due to the improved performance of<i>NetEase Cloud Music</i>.</p><p><blockquote>创新业务及其他毛利环比下降主要是由于季节性导致广告服务毛利下降。同比增长主要是由于<i>网易云音乐</i>.</blockquote></p><p><u>Gross Profit Margin</u></p><p><blockquote><u>毛利率</u></blockquote></p><p>Gross profit margin for online game services was 64.6% for the first quarter of 2021, compared to 63.1% and 64.1% for the preceding quarter and the first quarter of 2020, respectively. Gross profit margin for online game services was generally stable, fluctuating within a narrow band based on the revenue mix of mobile and PC games, as well as self-developed and licensed games.</p><p><blockquote>2021年第一季度，网络游戏服务的毛利率为64.6%，而上一季度和2020年第一季度分别为63.1%和64.1%。网络游戏服务的毛利率总体稳定，基于手机和PC游戏以及自主开发和授权游戏的收入组合在窄幅波动。</blockquote></p><p>Gross profit margin forYoudaowas 57.3% for the first quarter of 2021, compared to 47.5% and 43.5% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter and year-over-year increases were mainly due to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>2021年第一季度，优道的毛利率为57.3%，而上一季度和2020年第一季度分别为47.5%和43.5%。环比和同比增长主要是由于净收入大幅增长、规模经济改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>Gross profit margin for innovative businesses and others was 14.4% for the first quarter of 2021, compared to 18.0% and 15.8% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was primarily due to seasonality.</p><p><blockquote>2021年第一季度，创新业务及其他的毛利率为14.4%，而上一季度和2020年第一季度分别为18.0%和15.8%。环比下降主要是由于季节性。</blockquote></p><p><u>Operating Expenses</u></p><p><blockquote><u>营业费用</u></blockquote></p><p>Total operating expenses wereRMB6,777.1 million(US$1,034.4 million) for the first quarter of 2021, compared toRMB6,915.8 millionandRMB4,891.2 millionfor the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was mainly due to lower marketing expenditures related to online game services and innovative businesses and others. The year-over-year increase was mainly due to increased marketing expenditures related toYoudaoand other businesses, as well as higher staff-related costs and research and development investments.</p><p><blockquote>2021年第一季度总运营费用为67.771亿元人民币（10.344亿美元），而上一季度和2020年第一季度分别为69.158亿元人民币和48.912亿元人民币。环比下降主要是由于与网络游戏服务和创新业务等相关的营销支出减少。同比增长主要是由于与有道等业务相关的营销支出增加，以及员工相关成本和研发投资增加。</blockquote></p><p><u>Other Income/ (Expenses)</u></p><p><blockquote><u>其他收入╱（开支）</u></blockquote></p><p>Other income/ (expenses) consisted of investment (losses)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to unrealized exchange gains arising from the Company'sU.S.dollar-denominated bank deposits and short-term loan balances as the exchange rate of theU.S.dollar against the RMB fluctuated over the periods, as well as investment income arising from fair value changes of equity investments with readily determinable fair value. The year-over-year increase was mainly due to investment income arising from fair value changes of equity investments with readily determinable fair value.</p><p><blockquote>其他收入╱（开支）包括投资（亏损）╱收入、利息收入、汇兑收益╱（亏损）及其他。环比增长主要是由于期内美元兑人民币汇率波动，公司美元计价银行存款和短期借款余额产生的未实现汇兑收益，以及公允价值易于确定的股权投资公允价值变动产生的投资收益。同比增加主要是公允价值易于确定的股权投资公允价值变动产生的投资收益所致。</blockquote></p><p><u>Income Taxes</u></p><p><blockquote><u>所得税</u></blockquote></p><p>The Company recorded a net income tax charge ofRMB1,273.4 million(US$194.4 million) for the first quarter of 2021, compared toRMB552.7 millionandRMB1,082.0 millionfor the preceding quarter and the first quarter of 2020, respectively. The effective tax rate for the first quarter of 2021 was 22.0%, compared to 37.2% and 21.5% for the preceding quarter and the first quarter of 2020, respectively. The effective tax rate represents certain estimates by the Company regarding the tax obligations and benefits applicable to it in each quarter.</p><p><blockquote>该公司2021年第一季度的所得税净额为人民币12.734亿元（1.944亿美元），而上一季度和2020年第一季度分别为人民币5.527亿元和人民币10.82亿元。2021年第一季度的有效税率为22.0%，而上一季度和2020年第一季度分别为37.2%和21.5%。实际税率代表公司对每个季度适用于其的纳税义务和福利的某些估计。</blockquote></p><p><u>Net Income and Non-GAAP Net Income</u></p><p><blockquote><u>净利润和非公认会计准则净利润</u></blockquote></p><p>Net income attributable to the Company's shareholders totaledRMB4,439.2 million (US$677.5 million) for the first quarter of 2021, compared toRMB975.7 millionandRMB3,551.0 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度归属于公司股东的净利润总计44.392亿元人民币（6.775亿美元），而上一季度和2020年第一季度分别为9.757亿元人民币和35.51亿元人民币。</blockquote></p><p></p><p>Non-GAAP net income attributable to the Company's shareholders for the first quarter of 2021 totaledRMB5,080.7 million(US$775.5 million), compared toRMB1,597.9 millionandRMB4,212.9 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度非公认会计准则归属于公司股东的净利润总计50.807亿元人民币（7.755亿美元），而上一季度和2020年第一季度分别为15.979亿元人民币和42.129亿元人民币。</blockquote></p><p>NetEasereported basic net income ofUS$0.20per share (US$1.01per ADS) for the first quarter of 2021, compared toUS$0.04per share (US$0.22per ADS) andUS$0.17per share (US$0.84per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度基本净利润为每股0.20美元（每股美国存托凭证1.01美元），而上一季度和第一季度分别为每股0.04美元（每股美国存托凭证0.22美元）和每股0.17美元（每股美国存托凭证0.84美元）。2020年第一季度。</blockquote></p><p>NetEasereported non-GAAP basic net income ofUS$0.23per share (US$1.16per ADS) for the first quarter of 2021, compared toUS$0.07per share (US$0.36per ADS) andUS$0.20per share (US$1.00per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度非GAAP基本净利润为每股0.23美元（每ADS 1.16美元），而上一季度为每股0.07美元（每ADS 0.36美元）和每股0.20美元（每ADS 1.00美元）。分别为2020年第一季度和第一季度。</blockquote></p><p><b>QuarterlyDividend</b></p><p><blockquote><b>季度股息</b></blockquote></p><p>The board of directors has approved a dividend ofUS$0.0600per share (US$0.3000per ADS) for the first quarter of 2021, to holders of ordinary shares and holders of ADSs as of the close of business onJune 3, 2021, Hong Kong Time and New York Time, respectively, payable inU.S.dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East, Wanchai,Hong Kongno later than4:30 p.m.onJune 3, 2021(Hong Kong Time). The payment date is expected to be onJune 15, 2021for holders of ordinary shares and on or aroundJune 18, 2021for holders of ADSs.</p><p><blockquote>董事会已批准向截至香港时间2021年6月3日收盘时的普通股持有人和美国存托凭证持有人派发2021年第一季度每股0.0600美元（每股美国存托凭证0.3000美元）的股息和纽约时间，分别以美元支付。普通股持有人须于2021年6月3日下午4时30分（香港时间）前将所有有效股份过户文件连同有关股票送交本公司的香港股份过户登记分处香港中央证券登记有限公司办理登记手续，地址为香港湾仔皇后大道东183号合和中心17楼1712-1716号舖。普通股持有人的付款日期预计为2021年6月15日，美国存讬股持有人的付款日期预计为2021年6月18日左右。</blockquote></p><p>NetEasepaid a dividend ofUS$0.0464per share (US$0.2320per ADS) for the first quarter of 2020 inJune 2020, a dividend ofUS$0.0594per share (US$0.2970per ADS) for the second quarter of 2020 inSeptember 2020, a dividend ofUS$0.0390per share (US$0.1950 per ADS) for the third quarter of 2020 inDecember 2020and a dividend ofUS$0.0120per share (US$0.0600per ADS) for the fourth quarter of 2020 inMarch 2021.</p><p><blockquote>网易于2020年6月支付了2020年第一季度每股0.0464美元（每股美国存托凭证0.2320美元）的股息，于2020年9月支付了2020年第二季度每股0.0594美元（每股美国存托凭证0.2970美元）的股息，于2020年12月支付了每股0.0390美元（每股美国存托凭证0.1950美元）的股息，于2021年3月支付了2020年第四季度每股0.0120美元（每股美国存托凭证0.0600美元）的股息。</blockquote></p><p>The Company's policy is to set quarterly dividends at an amount equivalent to approximately 20%-30% of the Company's anticipated net income after tax in each fiscal quarter. The determination to make dividend distributions and the amount of such distributions in any particular quarter will be made at the discretion of the board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.</p><p><blockquote>公司的政策是将季度股息设定为相当于公司每个财政季度税后预期净利润的约20%-30%。任何特定季度的股息分配和此类分配金额将由董事会酌情决定，并将基于公司的运营和盈利、现金流、财务状况和其他相关因素。</blockquote></p><p><b>Other Information</b></p><p><blockquote><b>其他资料</b></blockquote></p><p>As ofMarch 31, 2021, the Company's total cash and cash equivalents, current and non-current time deposits and short-term investments balance totaledRMB106,249.6 million(US$16,216.9 million), compared toRMB100,099.6 millionas ofDecember 31, 2020. Cash flows generated from operating activities wasRMB5,542.7 million (US$846.0 million) for the first quarter of 2021, compared toRMB8,214.2 millionandRMB6,500.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>截至2021年3月31日，公司现金及现金等价物、流动和非流动定期存款以及短期投资余额总计人民币106,249.6百万元（162.169亿美元），而截至2020年12月31日为人民币100,099.6百万元。2021年第一季度经营活动产生的现金流为人民币55.427亿元（8.46亿美元），而上一季度和2020年第一季度分别为人民币82.142亿元和人民币65.006亿元。</blockquote></p><p><b>Share RepurchaseProgram</b></p><p><blockquote><b>股份回购计划</b></blockquote></p><p>OnFebruary 26, 2020, the Company announced that its board of directors had approved a share repurchase program of up toUS$1.0 billionof the Company's outstanding ADSs for a period not to exceed 12 months beginning onMarch 2, 2020. OnMay 19, 2020, the Company announced that its board of directors had approved an amendment to such program to increase the total authorized repurchase amount toUS$2.0 billion. Under the terms of this program,NetEasemay repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. At the end of this program onMarch 1, 2021, approximately 22.8 million ADSs had been repurchased for a total cost ofUS$1.8 billion.</p><p><blockquote>2020年2月26日，该公司宣布，其董事会已批准一项股票回购计划，从2020年3月2日开始，回购期限不超过12个月，最多可回购10亿美元的公司已发行ADS。2020年5月19日，该公司宣布董事会已批准对该计划的修正案，将授权回购总额增加至20亿美元。根据该计划的条款，网易可以在纳斯达克全球精选市场的公开市场交易中回购其已发行和流通在外的美国存托凭证。截至2021年3月1日该计划结束时，已回购约2280万股美国存讬股，总成本为18亿美元。</blockquote></p><p>OnFebruary 25, 2021, the Company announced that its board of directors had approved a new share repurchase program of up toUS$2.0 billionof the Company's outstanding ADSs and ordinary shares in open market transactions for a period not to exceed 24 months beginning onMarch 2, 2021. The extent to whichNetEaserepurchases its ADSs and ordinary shares will depend upon a variety of factors, including market conditions. This program may be suspended or discontinued at any time. As ofMarch 31, 2021, approximately 1.3 million ADSs had been repurchased under this program for a total cost ofUS$0.1 billion.</p><p><blockquote>2021年2月25日，该公司宣布，其董事会已批准一项新的股票回购计划，从2021年3月2日开始，在公开市场交易中回购高达20亿美元的公司已发行ADS和普通股，期限不超过24个月。网易回购其美国存讬股和普通股的程度将取决于多种因素，包括市场状况。该计划可能会随时暂停或终止。截至2021年3月31日，该计划已回购约130万股美国存讬股，总成本为1亿美元。</blockquote></p><p>**The United Statesdollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. Translations of amounts from RMB intoUnited Statesdollars for the convenience of the reader were calculated at the noon buying rate ofUS$1.00=RMB6.5518onMarch 31, 2021as set forth in the H.10 statistical release of theU.S.Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate onMarch 31, 2021, or at any other certain date. The percentages stated are calculated based on RMB.</p><p><blockquote>**本公告所披露的美元金额仅为方便读者而呈列。为方便读者，人民币对美元的换算按美国H.10统计发布中规定的2021年3月31日中午1.00美元=6.5518元人民币计算。联邦储备委员会。概不表示人民币金额本可或可于2021年3月31日或任何其他若干日期按该汇率兑换为美元。所列百分比以人民币计算。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NTES":"网易","09999":"网易-S"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134593226","content_text":"NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.First Quarter 2021 Financial HighlightsNet revenues wereRMB20.5 billion(US$3.1 billion), an increase of 20.2% compared with the first quarter of 2020.Online game services net revenues wereRMB15.0 billion(US$2.3 billion), an increase of 10.8% compared with the first quarter of 2020.Youdaonet revenues wereRMB1.3 billion(US$204.5 million), an increase of 147.5% compared with the first quarter of 2020.Innovative businesses and others net revenues wereRMB4.2 billion(US$640.4 million), an increase of 39.7% compared with the first quarter of 2020.Gross profit wasRMB11.1 billion(US$1.7 billion), an increase of 17.9% compared with the first quarter of 2020.Total operating expenses wereRMB6.8 billion(US$1.0 billion), an increase of 38.6% compared with the first quarter of 2020.Net income attributable to the Company's shareholders wasRMB4.4 billion(US$677.5 million). Non-GAAP net income attributable to the Company's shareholders wasRMB5.1 billion(US$775.5 million).[1]Basic net income per share wasUS$0.20(US$1.01per ADS). Non-GAAP basic net income per share wasUS$0.23(US$1.16per ADS).[1]NetEase stock jumped nearly 3% in premarket trading.First Quarter 2021 and Recent Operational HighlightsAttracted new users and expanded portfolio with new game introductions including:Revelationmobile game,Yu-Gi-Oh! Duel Links,Elysium of LegendsandPokémon Quest, all of which were well received after their launches.Infinite Lagrangein European markets in late April, with plans for additional market introductions in the near-term.Delivered strong performances from longstanding flagship titles including theFantasy Westward JourneyandWestward Journey Onlineseries, and maintained popularity of other hit titles includingLife-After,InvincibleandOnmyoji.Progressed strong game pipeline with thrilling titles planned for launch in the coming months includingHarry Potter: Magic Awakened,The Lord of the Rings: Rise to War,Nightmare Breaker,Diablo®Immortal™andGhost World Chronicle.AdvancedYoudao'slearning services and learning products, increasingYoudao'snet revenues by 147.5% year-over-year toRMB1.3 billion(US$204.5 million), and drove operating efficiency with total gross profit margin reaching 57.3% in the first quarter of 2021, the highest level sinceYoudao'sIPO inOctober 2019.\"2021 is off to a strong start with our total net revenues climbing toRMB20.5 billion, up approximately 20% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director ofNetEase. \"Net revenues from our online game services grew toRMB15.0 billionin the first quarter supported by the impressive longevity of our time-honored flagship games, as well as newer titles that broaden and diversify our games portfolio. As we near the launch of additional exciting new titles for global audiences in the coming months, we are confident we can deepen our international market presence. Our other businesses also performed wellin the first quarter, with solid year-over-yearnet revenues growth fromYoudao,NetEase Cloud MusicandYanxuan.Leveraging our innovation and technical skills, we plan to bring even more creative products and high-quality services to our users,\"Mr. Dingconcluded.[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" at the end of this announcement.First Quarter 2021 Financial ResultsNetRevenuesNet revenues wereRMB20,517.2 million(US$3,131.5 million) for the first quarter of 2021, compared toRMB19,761.7 millionandRMB17,062.4 millionfor the preceding quarter and the first quarter of 2020, respectively.Net revenues from online game services wereRMB14,981.8 million(US$2,286.7 million) for the first quarter of 2021, compared toRMB13,400.2 millionandRMB13,518.2 millionfor the preceding quarter and the first quarter of 2020, respectively. Net revenues from mobile games accounted for approximately 72.8% of net revenues from online game services for the first quarter of 2021, compared to 72.4% and 70.3% for the preceding quarter and the first quarter of 2020, respectively.Net revenues fromYoudaowereRMB1,339.9 million(US$204.5 million) for the first quarter of 2021, compared toRMB1,106.8 millionandRMB541.4 millionfor the preceding quarter and the first quarter of 2020, respectively.Net revenues from innovative businesses and others wereRMB4,195.6 million(US$640.4 million) for the first quarter of 2021, compared toRMB5,254.8 millionandRMB3,002.7 millionfor the preceding quarter and the first quarter of 2020, respectively.Gross ProfitGross profit wasRMB11,052.6 million(US$1,687.0 million) for the first quarter of 2021, compared toRMB9,927.8 millionandRMB9,377.6 millionfor the preceding quarter and the first quarter of 2020, respectively.The quarter-over-quarter and year-over-year increases in online game services gross profit were mainly due to increased net revenues from both mobile and PC games, including the newly launchedRevelationmobile game and other existing games.The quarter-over-quarter and year-over-year increases inYoudaogross profit were primarily attributable to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.The quarter-over-quarter decrease in innovative businesses and others gross profit was primarily due to a decrease in gross profit from advertising services due to seasonality. The year-over-year increase was primarily due to the improved performance ofNetEase Cloud Music.Gross Profit MarginGross profit margin for online game services was 64.6% for the first quarter of 2021, compared to 63.1% and 64.1% for the preceding quarter and the first quarter of 2020, respectively. Gross profit margin for online game services was generally stable, fluctuating within a narrow band based on the revenue mix of mobile and PC games, as well as self-developed and licensed games.Gross profit margin forYoudaowas 57.3% for the first quarter of 2021, compared to 47.5% and 43.5% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter and year-over-year increases were mainly due to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.Gross profit margin for innovative businesses and others was 14.4% for the first quarter of 2021, compared to 18.0% and 15.8% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was primarily due to seasonality.Operating ExpensesTotal operating expenses wereRMB6,777.1 million(US$1,034.4 million) for the first quarter of 2021, compared toRMB6,915.8 millionandRMB4,891.2 millionfor the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was mainly due to lower marketing expenditures related to online game services and innovative businesses and others. The year-over-year increase was mainly due to increased marketing expenditures related toYoudaoand other businesses, as well as higher staff-related costs and research and development investments.Other Income/ (Expenses)Other income/ (expenses) consisted of investment (losses)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to unrealized exchange gains arising from the Company'sU.S.dollar-denominated bank deposits and short-term loan balances as the exchange rate of theU.S.dollar against the RMB fluctuated over the periods, as well as investment income arising from fair value changes of equity investments with readily determinable fair value. The year-over-year increase was mainly due to investment income arising from fair value changes of equity investments with readily determinable fair value.Income TaxesThe Company recorded a net income tax charge ofRMB1,273.4 million(US$194.4 million) for the first quarter of 2021, compared toRMB552.7 millionandRMB1,082.0 millionfor the preceding quarter and the first quarter of 2020, respectively. The effective tax rate for the first quarter of 2021 was 22.0%, compared to 37.2% and 21.5% for the preceding quarter and the first quarter of 2020, respectively. The effective tax rate represents certain estimates by the Company regarding the tax obligations and benefits applicable to it in each quarter.Net Income and Non-GAAP Net IncomeNet income attributable to the Company's shareholders totaledRMB4,439.2 million (US$677.5 million) for the first quarter of 2021, compared toRMB975.7 millionandRMB3,551.0 millionfor the preceding quarter and the first quarter of 2020, respectively.Non-GAAP net income attributable to the Company's shareholders for the first quarter of 2021 totaledRMB5,080.7 million(US$775.5 million), compared toRMB1,597.9 millionandRMB4,212.9 millionfor the preceding quarter and the first quarter of 2020, respectively.NetEasereported basic net income ofUS$0.20per share (US$1.01per ADS) for the first quarter of 2021, compared toUS$0.04per share (US$0.22per ADS) andUS$0.17per share (US$0.84per ADS) for the preceding quarter and the first quarter of 2020, respectively.NetEasereported non-GAAP basic net income ofUS$0.23per share (US$1.16per ADS) for the first quarter of 2021, compared toUS$0.07per share (US$0.36per ADS) andUS$0.20per share (US$1.00per ADS) for the preceding quarter and the first quarter of 2020, respectively.QuarterlyDividendThe board of directors has approved a dividend ofUS$0.0600per share (US$0.3000per ADS) for the first quarter of 2021, to holders of ordinary shares and holders of ADSs as of the close of business onJune 3, 2021, Hong Kong Time and New York Time, respectively, payable inU.S.dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East, Wanchai,Hong Kongno later than4:30 p.m.onJune 3, 2021(Hong Kong Time). The payment date is expected to be onJune 15, 2021for holders of ordinary shares and on or aroundJune 18, 2021for holders of ADSs.NetEasepaid a dividend ofUS$0.0464per share (US$0.2320per ADS) for the first quarter of 2020 inJune 2020, a dividend ofUS$0.0594per share (US$0.2970per ADS) for the second quarter of 2020 inSeptember 2020, a dividend ofUS$0.0390per share (US$0.1950 per ADS) for the third quarter of 2020 inDecember 2020and a dividend ofUS$0.0120per share (US$0.0600per ADS) for the fourth quarter of 2020 inMarch 2021.The Company's policy is to set quarterly dividends at an amount equivalent to approximately 20%-30% of the Company's anticipated net income after tax in each fiscal quarter. The determination to make dividend distributions and the amount of such distributions in any particular quarter will be made at the discretion of the board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.Other InformationAs ofMarch 31, 2021, the Company's total cash and cash equivalents, current and non-current time deposits and short-term investments balance totaledRMB106,249.6 million(US$16,216.9 million), compared toRMB100,099.6 millionas ofDecember 31, 2020. Cash flows generated from operating activities wasRMB5,542.7 million (US$846.0 million) for the first quarter of 2021, compared toRMB8,214.2 millionandRMB6,500.6 millionfor the preceding quarter and the first quarter of 2020, respectively.Share RepurchaseProgramOnFebruary 26, 2020, the Company announced that its board of directors had approved a share repurchase program of up toUS$1.0 billionof the Company's outstanding ADSs for a period not to exceed 12 months beginning onMarch 2, 2020. OnMay 19, 2020, the Company announced that its board of directors had approved an amendment to such program to increase the total authorized repurchase amount toUS$2.0 billion. Under the terms of this program,NetEasemay repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. At the end of this program onMarch 1, 2021, approximately 22.8 million ADSs had been repurchased for a total cost ofUS$1.8 billion.OnFebruary 25, 2021, the Company announced that its board of directors had approved a new share repurchase program of up toUS$2.0 billionof the Company's outstanding ADSs and ordinary shares in open market transactions for a period not to exceed 24 months beginning onMarch 2, 2021. The extent to whichNetEaserepurchases its ADSs and ordinary shares will depend upon a variety of factors, including market conditions. This program may be suspended or discontinued at any time. As ofMarch 31, 2021, approximately 1.3 million ADSs had been repurchased under this program for a total cost ofUS$0.1 billion.**The United Statesdollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. Translations of amounts from RMB intoUnited Statesdollars for the convenience of the reader were calculated at the noon buying rate ofUS$1.00=RMB6.5518onMarch 31, 2021as set forth in the H.10 statistical release of theU.S.Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate onMarch 31, 2021, or at any other certain date. The percentages stated are calculated based on RMB.","news_type":1,"symbols_score_info":{"NTES":0.9,"09999":0.9}},"isVote":1,"tweetType":1,"viewCount":270,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":359779541,"gmtCreate":1616426526183,"gmtModify":1634525863095,"author":{"id":"3563940742586859","authorId":"3563940742586859","name":"JHTan","avatar":"https://static.tigerbbs.com/525e8990b57721088f5bb58b0d6d8a12","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563940742586859","idStr":"3563940742586859"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/359779541","repostId":"2120185126","repostType":2,"isVote":1,"tweetType":1,"viewCount":256,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0},{"id":366086297,"gmtCreate":1614360621119,"gmtModify":1703476978587,"author":{"id":"3563940742586859","authorId":"3563940742586859","name":"JHTan","avatar":"https://static.tigerbbs.com/525e8990b57721088f5bb58b0d6d8a12","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"authorIdStr":"3563940742586859","idStr":"3563940742586859"},"themes":[],"htmlText":"Kaching!","listText":"Kaching!","text":"Kaching!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":0,"commentSize":0,"repostSize":0,"link":"https://laohu8.com/post/366086297","repostId":"1117820997","repostType":4,"isVote":1,"tweetType":1,"viewCount":159,"authorTweetTopStatus":1,"verified":2,"comments":[],"imageCount":0,"langContent":"EN","totalScore":0}],"hots":[{"id":194023173,"gmtCreate":1621327422592,"gmtModify":1634192419859,"author":{"id":"3563940742586859","authorId":"3563940742586859","name":"JHTan","avatar":"https://static.tigerbbs.com/525e8990b57721088f5bb58b0d6d8a12","crmLevel":2,"crmLevelSwitch":0,"followedFlag":false,"idStr":"3563940742586859","authorIdStr":"3563940742586859"},"themes":[],"htmlText":"👍🏼","listText":"👍🏼","text":"👍🏼","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":1,"repostSize":0,"link":"https://laohu8.com/post/194023173","repostId":"1134593226","repostType":4,"repost":{"id":"1134593226","kind":"news","weMediaInfo":{"introduction":"Providing stock market headlines, business news, financials and earnings ","home_visible":1,"media_name":"Tiger Newspress","id":"1079075236","head_image":"https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba"},"pubTimestamp":1621327069,"share":"https://www.laohu8.com/m/news/1134593226?lang=zh_CN&edition=full","pubTime":"2021-05-18 16:37","market":"hk","language":"en","title":"NetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote>","url":"https://stock-news.laohu8.com/highlight/detail?id=1134593226","media":"Tiger Newspress","summary":"NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2","content":"<p>NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.</p><p><blockquote>网易公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Net revenues wereRMB20.5 billion(US$3.1 billion), an increase of 20.2% compared with the first quarter of 2020.</li><ul><li>Online game services net revenues wereRMB15.0 billion(US$2.3 billion), an increase of 10.8% compared with the first quarter of 2020.</li><li>Youdaonet revenues wereRMB1.3 billion(US$204.5 million), an increase of 147.5% compared with the first quarter of 2020.</li><li>Innovative businesses and others net revenues wereRMB4.2 billion(US$640.4 million), an increase of 39.7% compared with the first quarter of 2020.</li></ul><li>Gross profit wasRMB11.1 billion(US$1.7 billion), an increase of 17.9% compared with the first quarter of 2020.</li><li>Total operating expenses wereRMB6.8 billion(US$1.0 billion), an increase of 38.6% compared with the first quarter of 2020.</li><li>Net income attributable to the Company's shareholders wasRMB4.4 billion(US$677.5 million). Non-GAAP net income attributable to the Company's shareholders wasRMB5.1 billion(US$775.5 million).[1]</li><li>Basic net income per share wasUS$0.20(US$1.01per ADS). Non-GAAP basic net income per share wasUS$0.23(US$1.16per ADS).[1]</li></ul>NetEase stock jumped nearly 3% in premarket trading.</p><p><blockquote><ul><li>净收入为人民币205亿元（31亿美元），较2020年第一季度增长20.2%。</li><ul><li>网络游戏服务净收入为人民币150亿元（23亿美元），较2020年第一季度增长10.8%。</li><li>有道网收入为13亿元人民币（2.045亿美元），较2020年第一季度增长147.5%。</li><li>创新业务及其他净收入为42亿元人民币（6.404亿美元），较2020年第一季度增长39.7%。</li></ul><li>毛利润为人民币111亿元（17亿美元），较2020年第一季度增长17.9%。</li><li>总营业费用为人民币68亿元（10亿美元），较2020年第一季度增长38.6%。</li><li>归属于公司股东的净利润为44亿元人民币（6.775亿美元）。非公认会计准则归属于公司股东的净利润为51亿元人民币（7.755亿美元）。[1]</li><li>每股基本净利润为0.20美元（每股美国存托凭证1.01美元）。非GAAP基本每股净利润为0.23美元（每股ADS 1.16美元）。[1]</li></ul>网易股价在盘前交易中上涨近3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/bc2549fcc7867a4b807fca2309fd8739\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p><b>First Quarter 2021 and Recent Operational Highlights</b></p><p><blockquote><b>2021年第一季度及近期运营亮点</b></blockquote></p><p><ul><li>Attracted new users and expanded portfolio with new game introductions including:</li><ul><li><i>Revelation</i>mobile game,<i>Yu-Gi-Oh! Duel Links</i>,<i>Elysium of Legends</i>and<i>Pokémon Quest</i>, all of which were well received after their launches.</li><li><i>Infinite Lagrange</i>in European markets in late April, with plans for additional market introductions in the near-term.</li></ul><li>Delivered strong performances from longstanding flagship titles including the<i>Fantasy Westward Journey</i>and<i>Westward Journey Online</i>series, and maintained popularity of other hit titles including<i>Life-After</i>,<i>Invincible</i>and<i>Onmyoji</i>.</li><li>Progressed strong game pipeline with thrilling titles planned for launch in the coming months including<i>Harry Potter: Magic Awakened</i>,<i>The Lord of the Rings: Rise to War</i>,<i>Nightmare Breaker</i>,<i>Diablo®Immortal™</i>and<i>Ghost World Chronicle.</i></li><li>AdvancedYoudao'slearning services and learning products, increasingYoudao'snet revenues by 147.5% year-over-year toRMB1.3 billion(US$204.5 million), and drove operating efficiency with total gross profit margin reaching 57.3% in the first quarter of 2021, the highest level sinceYoudao'sIPO inOctober 2019.</li></ul>\"2021 is off to a strong start with our total net revenues climbing toRMB20.5 billion, up approximately 20% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director ofNetEase. \"Net revenues from our online game services grew toRMB15.0 billionin the first quarter supported by the impressive longevity of our time-honored flagship games, as well as newer titles that broaden and diversify our games portfolio. As we near the launch of additional exciting new titles for global audiences in the coming months, we are confident we can deepen our international market presence. Our other businesses also performed wellin the first quarter, with solid year-over-yearnet revenues growth fromYoudao,<i>NetEase Cloud Music</i>and<i>Yanxuan</i>.Leveraging our innovation and technical skills, we plan to bring even more creative products and high-quality services to our users,\"Mr. Dingconcluded.</p><p><blockquote><ul><li>通过推出新游戏吸引新用户并扩大产品组合，包括：</li><ul><li><i>启示</i>手机游戏，<i>游戏王！决斗链接</i>,<i>传奇极乐世界</i>和<i>神奇宝贝任务</i>，推出后均受到好评。</li><li><i>无限拉格朗日</i>四月下旬在欧洲市场上市，并计划在短期内推出更多市场。</li></ul><li>长期旗舰游戏表现强劲，包括<i>梦幻西游</i>和<i>大话西游在线</i>系列，并保持其他热门游戏的受欢迎程度，包括<i>来世</i>,<i>不可战胜的</i>和<i>阴阳师</i>.</li><li>开发强大的游戏渠道，计划在未来几个月推出激动人心的游戏，包括<i>哈利波特：魔法觉醒</i>,<i>指环王：战争崛起</i>,<i>噩梦破坏者</i>,<i>迪亚布罗®不朽的™</i>和<i>幽灵世界编年史。</i></li><li>推进有道的学习服务和学习产品，使有道的净收入同比增长147.5%至13亿元人民币（2.045亿美元），并提高了运营效率，2021年第一季度总毛利率达到57.3%，创2019年10月有道IPO以来的最高水平。</li></ul>网易首席执行官兼董事丁威廉先生表示：“2021年开局良好，我们的总净收入攀升至人民币205亿元，同比增长约20%。”“得益于我们历史悠久的旗舰游戏令人印象深刻的悠久历史，以及扩大和多元化我们游戏组合的新游戏，我们的在线游戏服务净收入在第一季度增长至人民币150亿元。随着我们即将推出更多令人兴奋的新游戏未来几个月将面向全球观众推出新游戏，我们有信心能够深化我们的国际市场影响力。我们的其他业务在第一季度也表现良好，有道净收入同比稳健增长，<i>网易云音乐</i>和<i>严轩</i>凭借我们的创新和技术技能，我们计划为用户带来更多创意产品和优质服务。”</blockquote></p><p><table><tbody><tr><td>[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" at the end of this announcement.</p><p><blockquote><table><tbody><tr><td>[1]本公告中使用的非公认会计准则归属于公司股东的净利润以及非公认会计准则每股基本和稀释净利润以及每股美国存托凭证的定义不包括股权激励费用。请参阅本公告末尾的“未经审计的公认会计原则和非公认会计原则业绩调节表”。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b>First Quarter 2021 Financial Results</b></p><p><blockquote><b>2021年第一季度财务业绩</b></blockquote></p><p><u>NetRevenues</u></p><p><blockquote><u>净收入</u></blockquote></p><p>Net revenues wereRMB20,517.2 million(US$3,131.5 million) for the first quarter of 2021, compared toRMB19,761.7 millionandRMB17,062.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度净收入为205.172亿元人民币（31.315亿美元），而上一季度和2020年第一季度分别为197.617亿元人民币和170.624亿元人民币。</blockquote></p><p>Net revenues from online game services wereRMB14,981.8 million(US$2,286.7 million) for the first quarter of 2021, compared toRMB13,400.2 millionandRMB13,518.2 millionfor the preceding quarter and the first quarter of 2020, respectively. Net revenues from mobile games accounted for approximately 72.8% of net revenues from online game services for the first quarter of 2021, compared to 72.4% and 70.3% for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度网络游戏服务净收入为149.818亿元人民币（22.867亿美元），而上一季度和2020年第一季度分别为134.002亿元人民币和135.182亿元人民币。2021年第一季度，手机游戏净收入约占在线游戏服务净收入的72.8%，而上一季度和2020年第一季度分别为72.4%和70.3%。</blockquote></p><p></p><p>Net revenues fromYoudaowereRMB1,339.9 million(US$204.5 million) for the first quarter of 2021, compared toRMB1,106.8 millionandRMB541.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度优道净收入为13.399亿元人民币（2.045亿美元），而上一季度和2020年第一季度分别为11.068亿元人民币和5.414亿元人民币。</blockquote></p><p>Net revenues from innovative businesses and others wereRMB4,195.6 million(US$640.4 million) for the first quarter of 2021, compared toRMB5,254.8 millionandRMB3,002.7 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度，创新业务和其他业务的净收入为41.956亿元人民币（6.404亿美元），而上一季度和2020年第一季度分别为52.548亿元人民币和30.027亿元人民币。</blockquote></p><p><u>Gross Profit</u></p><p><blockquote><u>毛利</u></blockquote></p><p>Gross profit wasRMB11,052.6 million(US$1,687.0 million) for the first quarter of 2021, compared toRMB9,927.8 millionandRMB9,377.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度毛利润为人民币110.526亿元（16.87亿美元），而上一季度和2020年第一季度分别为人民币99.278亿元和人民币93.776亿元。</blockquote></p><p>The quarter-over-quarter and year-over-year increases in online game services gross profit were mainly due to increased net revenues from both mobile and PC games, including the newly launched<i>Revelation</i>mobile game and other existing games.</p><p><blockquote>在线游戏服务毛利润环比和同比增长主要是由于移动和PC游戏的净收入增加，包括新推出的<i>启示</i>手机游戏和其他现有游戏。</blockquote></p><p>The quarter-over-quarter and year-over-year increases inYoudaogross profit were primarily attributable to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>优道毛利润环比和同比增长主要归因于净收入的大幅增长、规模经济的改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>The quarter-over-quarter decrease in innovative businesses and others gross profit was primarily due to a decrease in gross profit from advertising services due to seasonality. The year-over-year increase was primarily due to the improved performance of<i>NetEase Cloud Music</i>.</p><p><blockquote>创新业务及其他毛利环比下降主要是由于季节性导致广告服务毛利下降。同比增长主要是由于<i>网易云音乐</i>.</blockquote></p><p><u>Gross Profit Margin</u></p><p><blockquote><u>毛利率</u></blockquote></p><p>Gross profit margin for online game services was 64.6% for the first quarter of 2021, compared to 63.1% and 64.1% for the preceding quarter and the first quarter of 2020, respectively. Gross profit margin for online game services was generally stable, fluctuating within a narrow band based on the revenue mix of mobile and PC games, as well as self-developed and licensed games.</p><p><blockquote>2021年第一季度，网络游戏服务的毛利率为64.6%，而上一季度和2020年第一季度分别为63.1%和64.1%。网络游戏服务的毛利率总体稳定，基于手机和PC游戏以及自主开发和授权游戏的收入组合在窄幅波动。</blockquote></p><p>Gross profit margin forYoudaowas 57.3% for the first quarter of 2021, compared to 47.5% and 43.5% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter and year-over-year increases were mainly due to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>2021年第一季度，优道的毛利率为57.3%，而上一季度和2020年第一季度分别为47.5%和43.5%。环比和同比增长主要是由于净收入大幅增长、规模经济改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>Gross profit margin for innovative businesses and others was 14.4% for the first quarter of 2021, compared to 18.0% and 15.8% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was primarily due to seasonality.</p><p><blockquote>2021年第一季度，创新业务及其他的毛利率为14.4%，而上一季度和2020年第一季度分别为18.0%和15.8%。环比下降主要是由于季节性。</blockquote></p><p><u>Operating Expenses</u></p><p><blockquote><u>营业费用</u></blockquote></p><p>Total operating expenses wereRMB6,777.1 million(US$1,034.4 million) for the first quarter of 2021, compared toRMB6,915.8 millionandRMB4,891.2 millionfor the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was mainly due to lower marketing expenditures related to online game services and innovative businesses and others. The year-over-year increase was mainly due to increased marketing expenditures related toYoudaoand other businesses, as well as higher staff-related costs and research and development investments.</p><p><blockquote>2021年第一季度总运营费用为67.771亿元人民币（10.344亿美元），而上一季度和2020年第一季度分别为69.158亿元人民币和48.912亿元人民币。环比下降主要是由于与网络游戏服务和创新业务等相关的营销支出减少。同比增长主要是由于与有道等业务相关的营销支出增加，以及员工相关成本和研发投资增加。</blockquote></p><p><u>Other Income/ (Expenses)</u></p><p><blockquote><u>其他收入╱（开支）</u></blockquote></p><p>Other income/ (expenses) consisted of investment (losses)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to unrealized exchange gains arising from the Company'sU.S.dollar-denominated bank deposits and short-term loan balances as the exchange rate of theU.S.dollar against the RMB fluctuated over the periods, as well as investment income arising from fair value changes of equity investments with readily determinable fair value. The year-over-year increase was mainly due to investment income arising from fair value changes of equity investments with readily determinable fair value.</p><p><blockquote>其他收入╱（开支）包括投资（亏损）╱收入、利息收入、汇兑收益╱（亏损）及其他。环比增长主要是由于期内美元兑人民币汇率波动，公司美元计价银行存款和短期借款余额产生的未实现汇兑收益，以及公允价值易于确定的股权投资公允价值变动产生的投资收益。同比增加主要是公允价值易于确定的股权投资公允价值变动产生的投资收益所致。</blockquote></p><p><u>Income Taxes</u></p><p><blockquote><u>所得税</u></blockquote></p><p>The Company recorded a net income tax charge ofRMB1,273.4 million(US$194.4 million) for the first quarter of 2021, compared toRMB552.7 millionandRMB1,082.0 millionfor the preceding quarter and the first quarter of 2020, respectively. The effective tax rate for the first quarter of 2021 was 22.0%, compared to 37.2% and 21.5% for the preceding quarter and the first quarter of 2020, respectively. The effective tax rate represents certain estimates by the Company regarding the tax obligations and benefits applicable to it in each quarter.</p><p><blockquote>该公司2021年第一季度的所得税净额为人民币12.734亿元（1.944亿美元），而上一季度和2020年第一季度分别为人民币5.527亿元和人民币10.82亿元。2021年第一季度的有效税率为22.0%，而上一季度和2020年第一季度分别为37.2%和21.5%。实际税率代表公司对每个季度适用于其的纳税义务和福利的某些估计。</blockquote></p><p><u>Net Income and Non-GAAP Net Income</u></p><p><blockquote><u>净利润和非公认会计准则净利润</u></blockquote></p><p>Net income attributable to the Company's shareholders totaledRMB4,439.2 million (US$677.5 million) for the first quarter of 2021, compared toRMB975.7 millionandRMB3,551.0 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度归属于公司股东的净利润总计44.392亿元人民币（6.775亿美元），而上一季度和2020年第一季度分别为9.757亿元人民币和35.51亿元人民币。</blockquote></p><p></p><p>Non-GAAP net income attributable to the Company's shareholders for the first quarter of 2021 totaledRMB5,080.7 million(US$775.5 million), compared toRMB1,597.9 millionandRMB4,212.9 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度非公认会计准则归属于公司股东的净利润总计50.807亿元人民币（7.755亿美元），而上一季度和2020年第一季度分别为15.979亿元人民币和42.129亿元人民币。</blockquote></p><p>NetEasereported basic net income ofUS$0.20per share (US$1.01per ADS) for the first quarter of 2021, compared toUS$0.04per share (US$0.22per ADS) andUS$0.17per share (US$0.84per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度基本净利润为每股0.20美元（每股美国存托凭证1.01美元），而上一季度和第一季度分别为每股0.04美元（每股美国存托凭证0.22美元）和每股0.17美元（每股美国存托凭证0.84美元）。2020年第一季度。</blockquote></p><p>NetEasereported non-GAAP basic net income ofUS$0.23per share (US$1.16per ADS) for the first quarter of 2021, compared toUS$0.07per share (US$0.36per ADS) andUS$0.20per share (US$1.00per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度非GAAP基本净利润为每股0.23美元（每ADS 1.16美元），而上一季度为每股0.07美元（每ADS 0.36美元）和每股0.20美元（每ADS 1.00美元）。分别为2020年第一季度和第一季度。</blockquote></p><p><b>QuarterlyDividend</b></p><p><blockquote><b>季度股息</b></blockquote></p><p>The board of directors has approved a dividend ofUS$0.0600per share (US$0.3000per ADS) for the first quarter of 2021, to holders of ordinary shares and holders of ADSs as of the close of business onJune 3, 2021, Hong Kong Time and New York Time, respectively, payable inU.S.dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East, Wanchai,Hong Kongno later than4:30 p.m.onJune 3, 2021(Hong Kong Time). The payment date is expected to be onJune 15, 2021for holders of ordinary shares and on or aroundJune 18, 2021for holders of ADSs.</p><p><blockquote>董事会已批准向截至香港时间2021年6月3日收盘时的普通股持有人和美国存托凭证持有人派发2021年第一季度每股0.0600美元（每股美国存托凭证0.3000美元）的股息和纽约时间，分别以美元支付。普通股持有人须于2021年6月3日下午4时30分（香港时间）前将所有有效股份过户文件连同有关股票送交本公司的香港股份过户登记分处香港中央证券登记有限公司办理登记手续，地址为香港湾仔皇后大道东183号合和中心17楼1712-1716号舖。普通股持有人的付款日期预计为2021年6月15日，美国存讬股持有人的付款日期预计为2021年6月18日左右。</blockquote></p><p>NetEasepaid a dividend ofUS$0.0464per share (US$0.2320per ADS) for the first quarter of 2020 inJune 2020, a dividend ofUS$0.0594per share (US$0.2970per ADS) for the second quarter of 2020 inSeptember 2020, a dividend ofUS$0.0390per share (US$0.1950 per ADS) for the third quarter of 2020 inDecember 2020and a dividend ofUS$0.0120per share (US$0.0600per ADS) for the fourth quarter of 2020 inMarch 2021.</p><p><blockquote>网易于2020年6月支付了2020年第一季度每股0.0464美元（每股美国存托凭证0.2320美元）的股息，于2020年9月支付了2020年第二季度每股0.0594美元（每股美国存托凭证0.2970美元）的股息，于2020年12月支付了每股0.0390美元（每股美国存托凭证0.1950美元）的股息，于2021年3月支付了2020年第四季度每股0.0120美元（每股美国存托凭证0.0600美元）的股息。</blockquote></p><p>The Company's policy is to set quarterly dividends at an amount equivalent to approximately 20%-30% of the Company's anticipated net income after tax in each fiscal quarter. The determination to make dividend distributions and the amount of such distributions in any particular quarter will be made at the discretion of the board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.</p><p><blockquote>公司的政策是将季度股息设定为相当于公司每个财政季度税后预期净利润的约20%-30%。任何特定季度的股息分配和此类分配金额将由董事会酌情决定，并将基于公司的运营和盈利、现金流、财务状况和其他相关因素。</blockquote></p><p><b>Other Information</b></p><p><blockquote><b>其他资料</b></blockquote></p><p>As ofMarch 31, 2021, the Company's total cash and cash equivalents, current and non-current time deposits and short-term investments balance totaledRMB106,249.6 million(US$16,216.9 million), compared toRMB100,099.6 millionas ofDecember 31, 2020. Cash flows generated from operating activities wasRMB5,542.7 million (US$846.0 million) for the first quarter of 2021, compared toRMB8,214.2 millionandRMB6,500.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>截至2021年3月31日，公司现金及现金等价物、流动和非流动定期存款以及短期投资余额总计人民币106,249.6百万元（162.169亿美元），而截至2020年12月31日为人民币100,099.6百万元。2021年第一季度经营活动产生的现金流为人民币55.427亿元（8.46亿美元），而上一季度和2020年第一季度分别为人民币82.142亿元和人民币65.006亿元。</blockquote></p><p><b>Share RepurchaseProgram</b></p><p><blockquote><b>股份回购计划</b></blockquote></p><p>OnFebruary 26, 2020, the Company announced that its board of directors had approved a share repurchase program of up toUS$1.0 billionof the Company's outstanding ADSs for a period not to exceed 12 months beginning onMarch 2, 2020. OnMay 19, 2020, the Company announced that its board of directors had approved an amendment to such program to increase the total authorized repurchase amount toUS$2.0 billion. Under the terms of this program,NetEasemay repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. At the end of this program onMarch 1, 2021, approximately 22.8 million ADSs had been repurchased for a total cost ofUS$1.8 billion.</p><p><blockquote>2020年2月26日，该公司宣布，其董事会已批准一项股票回购计划，从2020年3月2日开始，回购期限不超过12个月，最多可回购10亿美元的公司已发行ADS。2020年5月19日，该公司宣布董事会已批准对该计划的修正案，将授权回购总额增加至20亿美元。根据该计划的条款，网易可以在纳斯达克全球精选市场的公开市场交易中回购其已发行和流通在外的美国存托凭证。截至2021年3月1日该计划结束时，已回购约2280万股美国存讬股，总成本为18亿美元。</blockquote></p><p>OnFebruary 25, 2021, the Company announced that its board of directors had approved a new share repurchase program of up toUS$2.0 billionof the Company's outstanding ADSs and ordinary shares in open market transactions for a period not to exceed 24 months beginning onMarch 2, 2021. The extent to whichNetEaserepurchases its ADSs and ordinary shares will depend upon a variety of factors, including market conditions. This program may be suspended or discontinued at any time. As ofMarch 31, 2021, approximately 1.3 million ADSs had been repurchased under this program for a total cost ofUS$0.1 billion.</p><p><blockquote>2021年2月25日，该公司宣布，其董事会已批准一项新的股票回购计划，从2021年3月2日开始，在公开市场交易中回购高达20亿美元的公司已发行ADS和普通股，期限不超过24个月。网易回购其美国存讬股和普通股的程度将取决于多种因素，包括市场状况。该计划可能会随时暂停或终止。截至2021年3月31日，该计划已回购约130万股美国存讬股，总成本为1亿美元。</blockquote></p><p>**The United Statesdollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. Translations of amounts from RMB intoUnited Statesdollars for the convenience of the reader were calculated at the noon buying rate ofUS$1.00=RMB6.5518onMarch 31, 2021as set forth in the H.10 statistical release of theU.S.Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate onMarch 31, 2021, or at any other certain date. The percentages stated are calculated based on RMB.</p><p><blockquote>**本公告所披露的美元金额仅为方便读者而呈列。为方便读者，人民币对美元的换算按美国H.10统计发布中规定的2021年3月31日中午1.00美元=6.5518元人民币计算。联邦储备委员会。概不表示人民币金额本可或可于2021年3月31日或任何其他若干日期按该汇率兑换为美元。所列百分比以人民币计算。</blockquote></p><p></p>","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>NetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote></title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nNetEase reports Q1 EPS $0.20,above forecast<blockquote>网易报告第一季度每股收益0.20美元，高于预期</blockquote>\n</h2>\n<h4 class=\"meta\">\n<a class=\"head\" href=\"https://laohu8.com/wemedia/1079075236\">\n\n<div class=\"h-thumb\" style=\"background-image:url(https://static.tigerbbs.com/8274c5b9d4c2852bfb1c4d6ce16c68ba);background-size:cover;\"></div>\n\n<div class=\"h-content\">\n<p class=\"h-name\">Tiger Newspress </p>\n<p class=\"h-time smaller\">2021-05-18 16:37</p>\n</div>\n</a>\n</h4>\n</header>\n<article>\n<p>NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.</p><p><blockquote>网易公司今天公布了截至2021年3月31日的第一季度未经审计的财务业绩。</blockquote></p><p><b>First Quarter 2021 Financial Highlights</b></p><p><blockquote><b>2021年第一季度财务摘要</b></blockquote></p><p><ul><li>Net revenues wereRMB20.5 billion(US$3.1 billion), an increase of 20.2% compared with the first quarter of 2020.</li><ul><li>Online game services net revenues wereRMB15.0 billion(US$2.3 billion), an increase of 10.8% compared with the first quarter of 2020.</li><li>Youdaonet revenues wereRMB1.3 billion(US$204.5 million), an increase of 147.5% compared with the first quarter of 2020.</li><li>Innovative businesses and others net revenues wereRMB4.2 billion(US$640.4 million), an increase of 39.7% compared with the first quarter of 2020.</li></ul><li>Gross profit wasRMB11.1 billion(US$1.7 billion), an increase of 17.9% compared with the first quarter of 2020.</li><li>Total operating expenses wereRMB6.8 billion(US$1.0 billion), an increase of 38.6% compared with the first quarter of 2020.</li><li>Net income attributable to the Company's shareholders wasRMB4.4 billion(US$677.5 million). Non-GAAP net income attributable to the Company's shareholders wasRMB5.1 billion(US$775.5 million).[1]</li><li>Basic net income per share wasUS$0.20(US$1.01per ADS). Non-GAAP basic net income per share wasUS$0.23(US$1.16per ADS).[1]</li></ul>NetEase stock jumped nearly 3% in premarket trading.</p><p><blockquote><ul><li>净收入为人民币205亿元（31亿美元），较2020年第一季度增长20.2%。</li><ul><li>网络游戏服务净收入为人民币150亿元（23亿美元），较2020年第一季度增长10.8%。</li><li>有道网收入为13亿元人民币（2.045亿美元），较2020年第一季度增长147.5%。</li><li>创新业务及其他净收入为42亿元人民币（6.404亿美元），较2020年第一季度增长39.7%。</li></ul><li>毛利润为人民币111亿元（17亿美元），较2020年第一季度增长17.9%。</li><li>总营业费用为人民币68亿元（10亿美元），较2020年第一季度增长38.6%。</li><li>归属于公司股东的净利润为44亿元人民币（6.775亿美元）。非公认会计准则归属于公司股东的净利润为51亿元人民币（7.755亿美元）。[1]</li><li>每股基本净利润为0.20美元（每股美国存托凭证1.01美元）。非GAAP基本每股净利润为0.23美元（每股ADS 1.16美元）。[1]</li></ul>网易股价在盘前交易中上涨近3%。</blockquote></p><p><img src=\"https://static.tigerbbs.com/bc2549fcc7867a4b807fca2309fd8739\" tg-width=\"1302\" tg-height=\"663\"></p><p><blockquote></blockquote></p><p><b>First Quarter 2021 and Recent Operational Highlights</b></p><p><blockquote><b>2021年第一季度及近期运营亮点</b></blockquote></p><p><ul><li>Attracted new users and expanded portfolio with new game introductions including:</li><ul><li><i>Revelation</i>mobile game,<i>Yu-Gi-Oh! Duel Links</i>,<i>Elysium of Legends</i>and<i>Pokémon Quest</i>, all of which were well received after their launches.</li><li><i>Infinite Lagrange</i>in European markets in late April, with plans for additional market introductions in the near-term.</li></ul><li>Delivered strong performances from longstanding flagship titles including the<i>Fantasy Westward Journey</i>and<i>Westward Journey Online</i>series, and maintained popularity of other hit titles including<i>Life-After</i>,<i>Invincible</i>and<i>Onmyoji</i>.</li><li>Progressed strong game pipeline with thrilling titles planned for launch in the coming months including<i>Harry Potter: Magic Awakened</i>,<i>The Lord of the Rings: Rise to War</i>,<i>Nightmare Breaker</i>,<i>Diablo®Immortal™</i>and<i>Ghost World Chronicle.</i></li><li>AdvancedYoudao'slearning services and learning products, increasingYoudao'snet revenues by 147.5% year-over-year toRMB1.3 billion(US$204.5 million), and drove operating efficiency with total gross profit margin reaching 57.3% in the first quarter of 2021, the highest level sinceYoudao'sIPO inOctober 2019.</li></ul>\"2021 is off to a strong start with our total net revenues climbing toRMB20.5 billion, up approximately 20% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director ofNetEase. \"Net revenues from our online game services grew toRMB15.0 billionin the first quarter supported by the impressive longevity of our time-honored flagship games, as well as newer titles that broaden and diversify our games portfolio. As we near the launch of additional exciting new titles for global audiences in the coming months, we are confident we can deepen our international market presence. Our other businesses also performed wellin the first quarter, with solid year-over-yearnet revenues growth fromYoudao,<i>NetEase Cloud Music</i>and<i>Yanxuan</i>.Leveraging our innovation and technical skills, we plan to bring even more creative products and high-quality services to our users,\"Mr. Dingconcluded.</p><p><blockquote><ul><li>通过推出新游戏吸引新用户并扩大产品组合，包括：</li><ul><li><i>启示</i>手机游戏，<i>游戏王！决斗链接</i>,<i>传奇极乐世界</i>和<i>神奇宝贝任务</i>，推出后均受到好评。</li><li><i>无限拉格朗日</i>四月下旬在欧洲市场上市，并计划在短期内推出更多市场。</li></ul><li>长期旗舰游戏表现强劲，包括<i>梦幻西游</i>和<i>大话西游在线</i>系列，并保持其他热门游戏的受欢迎程度，包括<i>来世</i>,<i>不可战胜的</i>和<i>阴阳师</i>.</li><li>开发强大的游戏渠道，计划在未来几个月推出激动人心的游戏，包括<i>哈利波特：魔法觉醒</i>,<i>指环王：战争崛起</i>,<i>噩梦破坏者</i>,<i>迪亚布罗®不朽的™</i>和<i>幽灵世界编年史。</i></li><li>推进有道的学习服务和学习产品，使有道的净收入同比增长147.5%至13亿元人民币（2.045亿美元），并提高了运营效率，2021年第一季度总毛利率达到57.3%，创2019年10月有道IPO以来的最高水平。</li></ul>网易首席执行官兼董事丁威廉先生表示：“2021年开局良好，我们的总净收入攀升至人民币205亿元，同比增长约20%。”“得益于我们历史悠久的旗舰游戏令人印象深刻的悠久历史，以及扩大和多元化我们游戏组合的新游戏，我们的在线游戏服务净收入在第一季度增长至人民币150亿元。随着我们即将推出更多令人兴奋的新游戏未来几个月将面向全球观众推出新游戏，我们有信心能够深化我们的国际市场影响力。我们的其他业务在第一季度也表现良好，有道净收入同比稳健增长，<i>网易云音乐</i>和<i>严轩</i>凭借我们的创新和技术技能，我们计划为用户带来更多创意产品和优质服务。”</blockquote></p><p><table><tbody><tr><td>[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" at the end of this announcement.</p><p><blockquote><table><tbody><tr><td>[1]本公告中使用的非公认会计准则归属于公司股东的净利润以及非公认会计准则每股基本和稀释净利润以及每股美国存托凭证的定义不包括股权激励费用。请参阅本公告末尾的“未经审计的公认会计原则和非公认会计原则业绩调节表”。</td></tr></tbody></table></blockquote></p><p></td></tr></tbody></table><b>First Quarter 2021 Financial Results</b></p><p><blockquote><b>2021年第一季度财务业绩</b></blockquote></p><p><u>NetRevenues</u></p><p><blockquote><u>净收入</u></blockquote></p><p>Net revenues wereRMB20,517.2 million(US$3,131.5 million) for the first quarter of 2021, compared toRMB19,761.7 millionandRMB17,062.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度净收入为205.172亿元人民币（31.315亿美元），而上一季度和2020年第一季度分别为197.617亿元人民币和170.624亿元人民币。</blockquote></p><p>Net revenues from online game services wereRMB14,981.8 million(US$2,286.7 million) for the first quarter of 2021, compared toRMB13,400.2 millionandRMB13,518.2 millionfor the preceding quarter and the first quarter of 2020, respectively. Net revenues from mobile games accounted for approximately 72.8% of net revenues from online game services for the first quarter of 2021, compared to 72.4% and 70.3% for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度网络游戏服务净收入为149.818亿元人民币（22.867亿美元），而上一季度和2020年第一季度分别为134.002亿元人民币和135.182亿元人民币。2021年第一季度，手机游戏净收入约占在线游戏服务净收入的72.8%，而上一季度和2020年第一季度分别为72.4%和70.3%。</blockquote></p><p></p><p>Net revenues fromYoudaowereRMB1,339.9 million(US$204.5 million) for the first quarter of 2021, compared toRMB1,106.8 millionandRMB541.4 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度优道净收入为13.399亿元人民币（2.045亿美元），而上一季度和2020年第一季度分别为11.068亿元人民币和5.414亿元人民币。</blockquote></p><p>Net revenues from innovative businesses and others wereRMB4,195.6 million(US$640.4 million) for the first quarter of 2021, compared toRMB5,254.8 millionandRMB3,002.7 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度，创新业务和其他业务的净收入为41.956亿元人民币（6.404亿美元），而上一季度和2020年第一季度分别为52.548亿元人民币和30.027亿元人民币。</blockquote></p><p><u>Gross Profit</u></p><p><blockquote><u>毛利</u></blockquote></p><p>Gross profit wasRMB11,052.6 million(US$1,687.0 million) for the first quarter of 2021, compared toRMB9,927.8 millionandRMB9,377.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度毛利润为人民币110.526亿元（16.87亿美元），而上一季度和2020年第一季度分别为人民币99.278亿元和人民币93.776亿元。</blockquote></p><p>The quarter-over-quarter and year-over-year increases in online game services gross profit were mainly due to increased net revenues from both mobile and PC games, including the newly launched<i>Revelation</i>mobile game and other existing games.</p><p><blockquote>在线游戏服务毛利润环比和同比增长主要是由于移动和PC游戏的净收入增加，包括新推出的<i>启示</i>手机游戏和其他现有游戏。</blockquote></p><p>The quarter-over-quarter and year-over-year increases inYoudaogross profit were primarily attributable to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>优道毛利润环比和同比增长主要归因于净收入的大幅增长、规模经济的改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>The quarter-over-quarter decrease in innovative businesses and others gross profit was primarily due to a decrease in gross profit from advertising services due to seasonality. The year-over-year increase was primarily due to the improved performance of<i>NetEase Cloud Music</i>.</p><p><blockquote>创新业务及其他毛利环比下降主要是由于季节性导致广告服务毛利下降。同比增长主要是由于<i>网易云音乐</i>.</blockquote></p><p><u>Gross Profit Margin</u></p><p><blockquote><u>毛利率</u></blockquote></p><p>Gross profit margin for online game services was 64.6% for the first quarter of 2021, compared to 63.1% and 64.1% for the preceding quarter and the first quarter of 2020, respectively. Gross profit margin for online game services was generally stable, fluctuating within a narrow band based on the revenue mix of mobile and PC games, as well as self-developed and licensed games.</p><p><blockquote>2021年第一季度，网络游戏服务的毛利率为64.6%，而上一季度和2020年第一季度分别为63.1%和64.1%。网络游戏服务的毛利率总体稳定，基于手机和PC游戏以及自主开发和授权游戏的收入组合在窄幅波动。</blockquote></p><p>Gross profit margin forYoudaowas 57.3% for the first quarter of 2021, compared to 47.5% and 43.5% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter and year-over-year increases were mainly due to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.</p><p><blockquote>2021年第一季度，优道的毛利率为57.3%，而上一季度和2020年第一季度分别为47.5%和43.5%。环比和同比增长主要是由于净收入大幅增长、规模经济改善以及学习服务的教师薪酬结构优化。</blockquote></p><p>Gross profit margin for innovative businesses and others was 14.4% for the first quarter of 2021, compared to 18.0% and 15.8% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was primarily due to seasonality.</p><p><blockquote>2021年第一季度，创新业务及其他的毛利率为14.4%，而上一季度和2020年第一季度分别为18.0%和15.8%。环比下降主要是由于季节性。</blockquote></p><p><u>Operating Expenses</u></p><p><blockquote><u>营业费用</u></blockquote></p><p>Total operating expenses wereRMB6,777.1 million(US$1,034.4 million) for the first quarter of 2021, compared toRMB6,915.8 millionandRMB4,891.2 millionfor the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was mainly due to lower marketing expenditures related to online game services and innovative businesses and others. The year-over-year increase was mainly due to increased marketing expenditures related toYoudaoand other businesses, as well as higher staff-related costs and research and development investments.</p><p><blockquote>2021年第一季度总运营费用为67.771亿元人民币（10.344亿美元），而上一季度和2020年第一季度分别为69.158亿元人民币和48.912亿元人民币。环比下降主要是由于与网络游戏服务和创新业务等相关的营销支出减少。同比增长主要是由于与有道等业务相关的营销支出增加，以及员工相关成本和研发投资增加。</blockquote></p><p><u>Other Income/ (Expenses)</u></p><p><blockquote><u>其他收入╱（开支）</u></blockquote></p><p>Other income/ (expenses) consisted of investment (losses)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to unrealized exchange gains arising from the Company'sU.S.dollar-denominated bank deposits and short-term loan balances as the exchange rate of theU.S.dollar against the RMB fluctuated over the periods, as well as investment income arising from fair value changes of equity investments with readily determinable fair value. The year-over-year increase was mainly due to investment income arising from fair value changes of equity investments with readily determinable fair value.</p><p><blockquote>其他收入╱（开支）包括投资（亏损）╱收入、利息收入、汇兑收益╱（亏损）及其他。环比增长主要是由于期内美元兑人民币汇率波动，公司美元计价银行存款和短期借款余额产生的未实现汇兑收益，以及公允价值易于确定的股权投资公允价值变动产生的投资收益。同比增加主要是公允价值易于确定的股权投资公允价值变动产生的投资收益所致。</blockquote></p><p><u>Income Taxes</u></p><p><blockquote><u>所得税</u></blockquote></p><p>The Company recorded a net income tax charge ofRMB1,273.4 million(US$194.4 million) for the first quarter of 2021, compared toRMB552.7 millionandRMB1,082.0 millionfor the preceding quarter and the first quarter of 2020, respectively. The effective tax rate for the first quarter of 2021 was 22.0%, compared to 37.2% and 21.5% for the preceding quarter and the first quarter of 2020, respectively. The effective tax rate represents certain estimates by the Company regarding the tax obligations and benefits applicable to it in each quarter.</p><p><blockquote>该公司2021年第一季度的所得税净额为人民币12.734亿元（1.944亿美元），而上一季度和2020年第一季度分别为人民币5.527亿元和人民币10.82亿元。2021年第一季度的有效税率为22.0%，而上一季度和2020年第一季度分别为37.2%和21.5%。实际税率代表公司对每个季度适用于其的纳税义务和福利的某些估计。</blockquote></p><p><u>Net Income and Non-GAAP Net Income</u></p><p><blockquote><u>净利润和非公认会计准则净利润</u></blockquote></p><p>Net income attributable to the Company's shareholders totaledRMB4,439.2 million (US$677.5 million) for the first quarter of 2021, compared toRMB975.7 millionandRMB3,551.0 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度归属于公司股东的净利润总计44.392亿元人民币（6.775亿美元），而上一季度和2020年第一季度分别为9.757亿元人民币和35.51亿元人民币。</blockquote></p><p></p><p>Non-GAAP net income attributable to the Company's shareholders for the first quarter of 2021 totaledRMB5,080.7 million(US$775.5 million), compared toRMB1,597.9 millionandRMB4,212.9 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>2021年第一季度非公认会计准则归属于公司股东的净利润总计50.807亿元人民币（7.755亿美元），而上一季度和2020年第一季度分别为15.979亿元人民币和42.129亿元人民币。</blockquote></p><p>NetEasereported basic net income ofUS$0.20per share (US$1.01per ADS) for the first quarter of 2021, compared toUS$0.04per share (US$0.22per ADS) andUS$0.17per share (US$0.84per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度基本净利润为每股0.20美元（每股美国存托凭证1.01美元），而上一季度和第一季度分别为每股0.04美元（每股美国存托凭证0.22美元）和每股0.17美元（每股美国存托凭证0.84美元）。2020年第一季度。</blockquote></p><p>NetEasereported non-GAAP basic net income ofUS$0.23per share (US$1.16per ADS) for the first quarter of 2021, compared toUS$0.07per share (US$0.36per ADS) andUS$0.20per share (US$1.00per ADS) for the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>网易报告2021年第一季度非GAAP基本净利润为每股0.23美元（每ADS 1.16美元），而上一季度为每股0.07美元（每ADS 0.36美元）和每股0.20美元（每ADS 1.00美元）。分别为2020年第一季度和第一季度。</blockquote></p><p><b>QuarterlyDividend</b></p><p><blockquote><b>季度股息</b></blockquote></p><p>The board of directors has approved a dividend ofUS$0.0600per share (US$0.3000per ADS) for the first quarter of 2021, to holders of ordinary shares and holders of ADSs as of the close of business onJune 3, 2021, Hong Kong Time and New York Time, respectively, payable inU.S.dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East, Wanchai,Hong Kongno later than4:30 p.m.onJune 3, 2021(Hong Kong Time). The payment date is expected to be onJune 15, 2021for holders of ordinary shares and on or aroundJune 18, 2021for holders of ADSs.</p><p><blockquote>董事会已批准向截至香港时间2021年6月3日收盘时的普通股持有人和美国存托凭证持有人派发2021年第一季度每股0.0600美元（每股美国存托凭证0.3000美元）的股息和纽约时间，分别以美元支付。普通股持有人须于2021年6月3日下午4时30分（香港时间）前将所有有效股份过户文件连同有关股票送交本公司的香港股份过户登记分处香港中央证券登记有限公司办理登记手续，地址为香港湾仔皇后大道东183号合和中心17楼1712-1716号舖。普通股持有人的付款日期预计为2021年6月15日，美国存讬股持有人的付款日期预计为2021年6月18日左右。</blockquote></p><p>NetEasepaid a dividend ofUS$0.0464per share (US$0.2320per ADS) for the first quarter of 2020 inJune 2020, a dividend ofUS$0.0594per share (US$0.2970per ADS) for the second quarter of 2020 inSeptember 2020, a dividend ofUS$0.0390per share (US$0.1950 per ADS) for the third quarter of 2020 inDecember 2020and a dividend ofUS$0.0120per share (US$0.0600per ADS) for the fourth quarter of 2020 inMarch 2021.</p><p><blockquote>网易于2020年6月支付了2020年第一季度每股0.0464美元（每股美国存托凭证0.2320美元）的股息，于2020年9月支付了2020年第二季度每股0.0594美元（每股美国存托凭证0.2970美元）的股息，于2020年12月支付了每股0.0390美元（每股美国存托凭证0.1950美元）的股息，于2021年3月支付了2020年第四季度每股0.0120美元（每股美国存托凭证0.0600美元）的股息。</blockquote></p><p>The Company's policy is to set quarterly dividends at an amount equivalent to approximately 20%-30% of the Company's anticipated net income after tax in each fiscal quarter. The determination to make dividend distributions and the amount of such distributions in any particular quarter will be made at the discretion of the board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.</p><p><blockquote>公司的政策是将季度股息设定为相当于公司每个财政季度税后预期净利润的约20%-30%。任何特定季度的股息分配和此类分配金额将由董事会酌情决定，并将基于公司的运营和盈利、现金流、财务状况和其他相关因素。</blockquote></p><p><b>Other Information</b></p><p><blockquote><b>其他资料</b></blockquote></p><p>As ofMarch 31, 2021, the Company's total cash and cash equivalents, current and non-current time deposits and short-term investments balance totaledRMB106,249.6 million(US$16,216.9 million), compared toRMB100,099.6 millionas ofDecember 31, 2020. Cash flows generated from operating activities wasRMB5,542.7 million (US$846.0 million) for the first quarter of 2021, compared toRMB8,214.2 millionandRMB6,500.6 millionfor the preceding quarter and the first quarter of 2020, respectively.</p><p><blockquote>截至2021年3月31日，公司现金及现金等价物、流动和非流动定期存款以及短期投资余额总计人民币106,249.6百万元（162.169亿美元），而截至2020年12月31日为人民币100,099.6百万元。2021年第一季度经营活动产生的现金流为人民币55.427亿元（8.46亿美元），而上一季度和2020年第一季度分别为人民币82.142亿元和人民币65.006亿元。</blockquote></p><p><b>Share RepurchaseProgram</b></p><p><blockquote><b>股份回购计划</b></blockquote></p><p>OnFebruary 26, 2020, the Company announced that its board of directors had approved a share repurchase program of up toUS$1.0 billionof the Company's outstanding ADSs for a period not to exceed 12 months beginning onMarch 2, 2020. OnMay 19, 2020, the Company announced that its board of directors had approved an amendment to such program to increase the total authorized repurchase amount toUS$2.0 billion. Under the terms of this program,NetEasemay repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. At the end of this program onMarch 1, 2021, approximately 22.8 million ADSs had been repurchased for a total cost ofUS$1.8 billion.</p><p><blockquote>2020年2月26日，该公司宣布，其董事会已批准一项股票回购计划，从2020年3月2日开始，回购期限不超过12个月，最多可回购10亿美元的公司已发行ADS。2020年5月19日，该公司宣布董事会已批准对该计划的修正案，将授权回购总额增加至20亿美元。根据该计划的条款，网易可以在纳斯达克全球精选市场的公开市场交易中回购其已发行和流通在外的美国存托凭证。截至2021年3月1日该计划结束时，已回购约2280万股美国存讬股，总成本为18亿美元。</blockquote></p><p>OnFebruary 25, 2021, the Company announced that its board of directors had approved a new share repurchase program of up toUS$2.0 billionof the Company's outstanding ADSs and ordinary shares in open market transactions for a period not to exceed 24 months beginning onMarch 2, 2021. The extent to whichNetEaserepurchases its ADSs and ordinary shares will depend upon a variety of factors, including market conditions. This program may be suspended or discontinued at any time. As ofMarch 31, 2021, approximately 1.3 million ADSs had been repurchased under this program for a total cost ofUS$0.1 billion.</p><p><blockquote>2021年2月25日，该公司宣布，其董事会已批准一项新的股票回购计划，从2021年3月2日开始，在公开市场交易中回购高达20亿美元的公司已发行ADS和普通股，期限不超过24个月。网易回购其美国存讬股和普通股的程度将取决于多种因素，包括市场状况。该计划可能会随时暂停或终止。截至2021年3月31日，该计划已回购约130万股美国存讬股，总成本为1亿美元。</blockquote></p><p>**The United Statesdollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. Translations of amounts from RMB intoUnited Statesdollars for the convenience of the reader were calculated at the noon buying rate ofUS$1.00=RMB6.5518onMarch 31, 2021as set forth in the H.10 statistical release of theU.S.Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate onMarch 31, 2021, or at any other certain date. The percentages stated are calculated based on RMB.</p><p><blockquote>**本公告所披露的美元金额仅为方便读者而呈列。为方便读者，人民币对美元的换算按美国H.10统计发布中规定的2021年3月31日中午1.00美元=6.5518元人民币计算。联邦储备委员会。概不表示人民币金额本可或可于2021年3月31日或任何其他若干日期按该汇率兑换为美元。所列百分比以人民币计算。</blockquote></p><p></p>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"NTES":"网易","09999":"网易-S"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1134593226","content_text":"NetEase, Inc. today announced its unaudited financial results for the first quarter endedMarch 31, 2021.First Quarter 2021 Financial HighlightsNet revenues wereRMB20.5 billion(US$3.1 billion), an increase of 20.2% compared with the first quarter of 2020.Online game services net revenues wereRMB15.0 billion(US$2.3 billion), an increase of 10.8% compared with the first quarter of 2020.Youdaonet revenues wereRMB1.3 billion(US$204.5 million), an increase of 147.5% compared with the first quarter of 2020.Innovative businesses and others net revenues wereRMB4.2 billion(US$640.4 million), an increase of 39.7% compared with the first quarter of 2020.Gross profit wasRMB11.1 billion(US$1.7 billion), an increase of 17.9% compared with the first quarter of 2020.Total operating expenses wereRMB6.8 billion(US$1.0 billion), an increase of 38.6% compared with the first quarter of 2020.Net income attributable to the Company's shareholders wasRMB4.4 billion(US$677.5 million). Non-GAAP net income attributable to the Company's shareholders wasRMB5.1 billion(US$775.5 million).[1]Basic net income per share wasUS$0.20(US$1.01per ADS). Non-GAAP basic net income per share wasUS$0.23(US$1.16per ADS).[1]NetEase stock jumped nearly 3% in premarket trading.First Quarter 2021 and Recent Operational HighlightsAttracted new users and expanded portfolio with new game introductions including:Revelationmobile game,Yu-Gi-Oh! Duel Links,Elysium of LegendsandPokémon Quest, all of which were well received after their launches.Infinite Lagrangein European markets in late April, with plans for additional market introductions in the near-term.Delivered strong performances from longstanding flagship titles including theFantasy Westward JourneyandWestward Journey Onlineseries, and maintained popularity of other hit titles includingLife-After,InvincibleandOnmyoji.Progressed strong game pipeline with thrilling titles planned for launch in the coming months includingHarry Potter: Magic Awakened,The Lord of the Rings: Rise to War,Nightmare Breaker,Diablo®Immortal™andGhost World Chronicle.AdvancedYoudao'slearning services and learning products, increasingYoudao'snet revenues by 147.5% year-over-year toRMB1.3 billion(US$204.5 million), and drove operating efficiency with total gross profit margin reaching 57.3% in the first quarter of 2021, the highest level sinceYoudao'sIPO inOctober 2019.\"2021 is off to a strong start with our total net revenues climbing toRMB20.5 billion, up approximately 20% year-over-year,\" said Mr.William Ding, Chief Executive Officer and Director ofNetEase. \"Net revenues from our online game services grew toRMB15.0 billionin the first quarter supported by the impressive longevity of our time-honored flagship games, as well as newer titles that broaden and diversify our games portfolio. As we near the launch of additional exciting new titles for global audiences in the coming months, we are confident we can deepen our international market presence. Our other businesses also performed wellin the first quarter, with solid year-over-yearnet revenues growth fromYoudao,NetEase Cloud MusicandYanxuan.Leveraging our innovation and technical skills, we plan to bring even more creative products and high-quality services to our users,\"Mr. Dingconcluded.[1] As used in this announcement, non-GAAP net income attributable to the Company's shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See \"Unaudited Reconciliation of GAAP and Non-GAAP Results\" at the end of this announcement.First Quarter 2021 Financial ResultsNetRevenuesNet revenues wereRMB20,517.2 million(US$3,131.5 million) for the first quarter of 2021, compared toRMB19,761.7 millionandRMB17,062.4 millionfor the preceding quarter and the first quarter of 2020, respectively.Net revenues from online game services wereRMB14,981.8 million(US$2,286.7 million) for the first quarter of 2021, compared toRMB13,400.2 millionandRMB13,518.2 millionfor the preceding quarter and the first quarter of 2020, respectively. Net revenues from mobile games accounted for approximately 72.8% of net revenues from online game services for the first quarter of 2021, compared to 72.4% and 70.3% for the preceding quarter and the first quarter of 2020, respectively.Net revenues fromYoudaowereRMB1,339.9 million(US$204.5 million) for the first quarter of 2021, compared toRMB1,106.8 millionandRMB541.4 millionfor the preceding quarter and the first quarter of 2020, respectively.Net revenues from innovative businesses and others wereRMB4,195.6 million(US$640.4 million) for the first quarter of 2021, compared toRMB5,254.8 millionandRMB3,002.7 millionfor the preceding quarter and the first quarter of 2020, respectively.Gross ProfitGross profit wasRMB11,052.6 million(US$1,687.0 million) for the first quarter of 2021, compared toRMB9,927.8 millionandRMB9,377.6 millionfor the preceding quarter and the first quarter of 2020, respectively.The quarter-over-quarter and year-over-year increases in online game services gross profit were mainly due to increased net revenues from both mobile and PC games, including the newly launchedRevelationmobile game and other existing games.The quarter-over-quarter and year-over-year increases inYoudaogross profit were primarily attributable to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.The quarter-over-quarter decrease in innovative businesses and others gross profit was primarily due to a decrease in gross profit from advertising services due to seasonality. The year-over-year increase was primarily due to the improved performance ofNetEase Cloud Music.Gross Profit MarginGross profit margin for online game services was 64.6% for the first quarter of 2021, compared to 63.1% and 64.1% for the preceding quarter and the first quarter of 2020, respectively. Gross profit margin for online game services was generally stable, fluctuating within a narrow band based on the revenue mix of mobile and PC games, as well as self-developed and licensed games.Gross profit margin forYoudaowas 57.3% for the first quarter of 2021, compared to 47.5% and 43.5% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter and year-over-year increases were mainly due to the significant increase in net revenues, improved economies of scale, and faculty compensation structure optimization for its learning services.Gross profit margin for innovative businesses and others was 14.4% for the first quarter of 2021, compared to 18.0% and 15.8% for the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was primarily due to seasonality.Operating ExpensesTotal operating expenses wereRMB6,777.1 million(US$1,034.4 million) for the first quarter of 2021, compared toRMB6,915.8 millionandRMB4,891.2 millionfor the preceding quarter and the first quarter of 2020, respectively. The quarter-over-quarter decrease was mainly due to lower marketing expenditures related to online game services and innovative businesses and others. The year-over-year increase was mainly due to increased marketing expenditures related toYoudaoand other businesses, as well as higher staff-related costs and research and development investments.Other Income/ (Expenses)Other income/ (expenses) consisted of investment (losses)/ income, interest income, exchange gains/ (losses) and others. The quarter-over-quarter increase was mainly due to unrealized exchange gains arising from the Company'sU.S.dollar-denominated bank deposits and short-term loan balances as the exchange rate of theU.S.dollar against the RMB fluctuated over the periods, as well as investment income arising from fair value changes of equity investments with readily determinable fair value. The year-over-year increase was mainly due to investment income arising from fair value changes of equity investments with readily determinable fair value.Income TaxesThe Company recorded a net income tax charge ofRMB1,273.4 million(US$194.4 million) for the first quarter of 2021, compared toRMB552.7 millionandRMB1,082.0 millionfor the preceding quarter and the first quarter of 2020, respectively. The effective tax rate for the first quarter of 2021 was 22.0%, compared to 37.2% and 21.5% for the preceding quarter and the first quarter of 2020, respectively. The effective tax rate represents certain estimates by the Company regarding the tax obligations and benefits applicable to it in each quarter.Net Income and Non-GAAP Net IncomeNet income attributable to the Company's shareholders totaledRMB4,439.2 million (US$677.5 million) for the first quarter of 2021, compared toRMB975.7 millionandRMB3,551.0 millionfor the preceding quarter and the first quarter of 2020, respectively.Non-GAAP net income attributable to the Company's shareholders for the first quarter of 2021 totaledRMB5,080.7 million(US$775.5 million), compared toRMB1,597.9 millionandRMB4,212.9 millionfor the preceding quarter and the first quarter of 2020, respectively.NetEasereported basic net income ofUS$0.20per share (US$1.01per ADS) for the first quarter of 2021, compared toUS$0.04per share (US$0.22per ADS) andUS$0.17per share (US$0.84per ADS) for the preceding quarter and the first quarter of 2020, respectively.NetEasereported non-GAAP basic net income ofUS$0.23per share (US$1.16per ADS) for the first quarter of 2021, compared toUS$0.07per share (US$0.36per ADS) andUS$0.20per share (US$1.00per ADS) for the preceding quarter and the first quarter of 2020, respectively.QuarterlyDividendThe board of directors has approved a dividend ofUS$0.0600per share (US$0.3000per ADS) for the first quarter of 2021, to holders of ordinary shares and holders of ADSs as of the close of business onJune 3, 2021, Hong Kong Time and New York Time, respectively, payable inU.S.dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company'sHong Kongbranch share registrar,Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre,183 Queen's Road East, Wanchai,Hong Kongno later than4:30 p.m.onJune 3, 2021(Hong Kong Time). The payment date is expected to be onJune 15, 2021for holders of ordinary shares and on or aroundJune 18, 2021for holders of ADSs.NetEasepaid a dividend ofUS$0.0464per share (US$0.2320per ADS) for the first quarter of 2020 inJune 2020, a dividend ofUS$0.0594per share (US$0.2970per ADS) for the second quarter of 2020 inSeptember 2020, a dividend ofUS$0.0390per share (US$0.1950 per ADS) for the third quarter of 2020 inDecember 2020and a dividend ofUS$0.0120per share (US$0.0600per ADS) for the fourth quarter of 2020 inMarch 2021.The Company's policy is to set quarterly dividends at an amount equivalent to approximately 20%-30% of the Company's anticipated net income after tax in each fiscal quarter. The determination to make dividend distributions and the amount of such distributions in any particular quarter will be made at the discretion of the board of directors and will be based upon the Company's operations and earnings, cash flow, financial condition and other relevant factors.Other InformationAs ofMarch 31, 2021, the Company's total cash and cash equivalents, current and non-current time deposits and short-term investments balance totaledRMB106,249.6 million(US$16,216.9 million), compared toRMB100,099.6 millionas ofDecember 31, 2020. Cash flows generated from operating activities wasRMB5,542.7 million (US$846.0 million) for the first quarter of 2021, compared toRMB8,214.2 millionandRMB6,500.6 millionfor the preceding quarter and the first quarter of 2020, respectively.Share RepurchaseProgramOnFebruary 26, 2020, the Company announced that its board of directors had approved a share repurchase program of up toUS$1.0 billionof the Company's outstanding ADSs for a period not to exceed 12 months beginning onMarch 2, 2020. OnMay 19, 2020, the Company announced that its board of directors had approved an amendment to such program to increase the total authorized repurchase amount toUS$2.0 billion. Under the terms of this program,NetEasemay repurchase its issued and outstanding ADSs in open-market transactions on the NASDAQ Global Select Market. At the end of this program onMarch 1, 2021, approximately 22.8 million ADSs had been repurchased for a total cost ofUS$1.8 billion.OnFebruary 25, 2021, the Company announced that its board of directors had approved a new share repurchase program of up toUS$2.0 billionof the Company's outstanding ADSs and ordinary shares in open market transactions for a period not to exceed 24 months beginning onMarch 2, 2021. The extent to whichNetEaserepurchases its ADSs and ordinary shares will depend upon a variety of factors, including market conditions. This program may be suspended or discontinued at any time. As ofMarch 31, 2021, approximately 1.3 million ADSs had been repurchased under this program for a total cost ofUS$0.1 billion.**The United Statesdollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. Translations of amounts from RMB intoUnited Statesdollars for the convenience of the reader were calculated at the noon buying rate ofUS$1.00=RMB6.5518onMarch 31, 2021as set forth in the H.10 statistical release of theU.S.Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate onMarch 31, 2021, or at any other certain date. 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