NetEase was also revealed to have applied for listing in Hong Kong.
On May 5, according to Bloomberg News, NetEase (Nasdaq: NTES) has secretly submitted an application for secondary listing in Hong Kong. In this regard, Netease said to the surging reporter that it would not comment.
Bloomberg reported that NetEase has communicated with consultants and may be listed in the second half of this year as soon as possible. People familiar with the matter said that no final decision has been made on details such as the size and timing of the listing.
NetEase was founded in 1997 and listed on the NASDAQ Stock Exchange in 2000. Its current market value is approximately US $ 42.562 billion.
NetEase ’s current business includes online games, NetEase Youdao and innovative businesses, namely Yanxuan, Cloud Music, Email, Media, etc. In 2019, NetEase’s net income was 59.24 billion yuan. Based on non-US GAAP, the net profit attributable to NetEase’s shareholders was 15.66 billion yuan.
In November 2019, after Alibaba (9988.HK) went public in Hong Kong for the second time, it was accused that it would set off a trend of Chinese stocks going to Hong Kong for the second time.
Bloomberg reported in January 2020 that the Hong Kong Stock Exchange is in discussions with Chinese technology companies including Ctrip and NetEase for a secondary listing in Hong Kong.
The latest news in April is that JD.com has submitted a listing application in Hong Kong in a confidential manner for secondary listing, and the secondary listing process of Baidu and Ctrip in Hong Kong is also advancing rapidly . JD.com, Baidu and Ctrip have not commented on the second listing in Hong Kong.