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20-F

Annual Report (Foreign)

NetEase, Inc. NETTF NTES

0001104659-26-043468

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Filed
Apr 15, 2026 12:00 AM ET
Period of report

On SEC.gov

Financials in this filing

Metric Period Value
Shares Diluted FY 2025 · Dec 31, 2025 3.22B sh
Shares Diluted FY 2025 · Dec 31, 2024 3.23B sh
Shares Diluted FY 2025 · Dec 31, 2023 3.25B sh
Shares Outstanding FY 2025 · Dec 31, 2025 3.19B sh
Dividends Paid FY 2025 · Dec 31, 2025 $1.98B
Dividends Paid FY 2025 · Dec 31, 2025 ¥13.83B
Dividends Paid FY 2025 · Dec 31, 2024 ¥11.17B
Dividends Paid FY 2025 · Dec 31, 2023 ¥8.01B
Capex FY 2025 · Dec 31, 2025 $152.35M
Capex FY 2025 · Dec 31, 2025 ¥1.07B
Capex FY 2025 · Dec 31, 2024 ¥1.28B
Capex FY 2025 · Dec 31, 2023 ¥2.3B
Operating Cash Flow FY 2025 · Dec 31, 2025 $7.26B
Operating Cash Flow FY 2025 · Dec 31, 2025 ¥50.74B
Operating Cash Flow FY 2025 · Dec 31, 2024 ¥39.68B
Operating Cash Flow FY 2025 · Dec 31, 2023 ¥35.33B
Short Term Investments FY 2025 · Dec 31, 2025 $3.26B
Short Term Investments FY 2025 · Dec 31, 2025 ¥22.8B
Short Term Investments FY 2025 · Dec 31, 2024 ¥10.76B
Cash And Equivalents FY 2025 · Dec 31, 2025 $6.74B
Cash And Equivalents FY 2025 · Dec 31, 2025 ¥47.17B
Cash And Equivalents FY 2025 · Dec 31, 2024 ¥51.38B
Stockholders Equity FY 2025 · Dec 31, 2025 $22.92B
Stockholders Equity FY 2025 · Dec 31, 2025 ¥160.3B
Stockholders Equity FY 2025 · Dec 31, 2024 ¥138.69B
Current Liabilities FY 2025 · Dec 31, 2025 $7.49B
Current Liabilities FY 2025 · Dec 31, 2025 ¥52.37B
Current Liabilities FY 2025 · Dec 31, 2024 ¥49.67B
Total Liabilities FY 2025 · Dec 31, 2025 $8.05B
Total Liabilities FY 2025 · Dec 31, 2025 ¥56.31B
Total Liabilities FY 2025 · Dec 31, 2024 ¥53.5B
Current Assets FY 2025 · Dec 31, 2025 $25.83B
Current Assets FY 2025 · Dec 31, 2025 ¥180.62B
Current Assets FY 2025 · Dec 31, 2024 ¥153.32B
Total Assets FY 2025 · Dec 31, 2025 $31.66B
Total Assets FY 2025 · Dec 31, 2025 ¥221.42B
Total Assets FY 2025 · Dec 31, 2024 ¥195.99B
Eps Diluted FY 2025 · Dec 31, 2025 $1.50
Eps Diluted FY 2025 · Dec 31, 2025 ¥10.48
Eps Diluted FY 2025 · Dec 31, 2024 ¥9.19
Eps Diluted FY 2025 · Dec 31, 2023 ¥9.05
Eps Basic FY 2025 · Dec 31, 2025 $1.52
Eps Basic FY 2025 · Dec 31, 2025 ¥10.59
Eps Basic FY 2025 · Dec 31, 2024 ¥9.28
Eps Basic FY 2025 · Dec 31, 2023 ¥9.15
Sga Expense FY 2025 · Dec 31, 2025 $604.62M
Sga Expense FY 2025 · Dec 31, 2025 ¥4.23B
Sga Expense FY 2025 · Dec 31, 2024 ¥4.55B
Sga Expense FY 2025 · Dec 31, 2023 ¥4.9B
Rd Expense FY 2025 · Dec 31, 2025 $2.53B
Rd Expense FY 2025 · Dec 31, 2025 ¥17.72B
Rd Expense FY 2025 · Dec 31, 2024 ¥17.52B
Rd Expense FY 2025 · Dec 31, 2023 ¥16.48B
Operating Income FY 2025 · Dec 31, 2025 $5.12B
Operating Income FY 2025 · Dec 31, 2025 ¥35.83B
Operating Income FY 2025 · Dec 31, 2024 ¥29.58B
Operating Income FY 2025 · Dec 31, 2023 ¥27.71B
Gross Profit FY 2025 · Dec 31, 2025 $10.35B
Gross Profit FY 2025 · Dec 31, 2025 ¥72.4B
Gross Profit FY 2025 · Dec 31, 2024 ¥65.81B
Gross Profit FY 2025 · Dec 31, 2023 ¥63.06B
Revenue FY 2025 · Dec 31, 2025 $16.11B
Revenue FY 2025 · Dec 31, 2025 ¥112.63B
Revenue FY 2025 · Dec 31, 2024 ¥105.3B
Revenue FY 2025 · Dec 31, 2023 ¥103.47B
Long Term Debt FY 2025 · Dec 31, 2024 ¥428M