Research Disclosures & Disclaimers

This website contains disclosures and disclaimers related to
published UBS Global Research products, including those related to
regulation, potential conflicts of interest as well as those provided
by third-party data providers describing limitations on use of their
products.

NetEase (NTES.O)*

UBS Rating and Price Target History Chart

Line chart explaining Price target vs Stock Price is described in below table

EQ Rating & Price Target Table

Date	Stock Price (US$)	Price Target (US$)	Rating
2022-04-11	95.01	131.00	Buy
2022-05-24	95.41	124.00	Buy
2022-08-18	86.11	120.00	Buy
2022-11-17	71.00	109.00	Buy
2023-02-23	82.89	112.00	Buy
2023-05-25	85.73	113.00	Buy
2023-07-03	99.31	114.00	Buy
2023-07-31	108.74	125.00	Buy
2023-11-06	111.56	130.00	Buy
2023-11-16	112.35	137.00	Buy
2024-02-29	107.92	142.00	Buy
2024-05-23	94.74	135.00	Buy
2024-08-22	82.25	125.00	Buy
2024-11-14	84.22	127.00	Buy
2025-02-20	101.42	133.00	Buy
2025-05-15	122.76	152.00	Buy

Disclosures

UBS Securities Hong Kong Limited is a market maker in the Hong Kong-listed securities of this company.
UBS Securities LLC makes a market in the securities and/or ADRs of this company.
UBS holds a long or short position of 0.5% or more of the listed shares of this company.

Note : Historical Price Targets have been adjusted to account for any stock splits, rights issues and/or dividends which may have occurred for this security. Not Priced: Stock was not priced on the given date. No Rating: Issuer was not rated by UBS on the given day. No Price Target: For this issuer no Price Target was set by UBS on the given day. Issuers with an EQ Rating & Price Target Table are covered by UBS-IB Equity Research Analysts. Issuers without an EQ Rating & Price Target Table are not single stock covered.

* Issuers marked with an asterisk are covered by UBS-IB Equity Research Analysts. Issuers without an asterisk are not single stock covered.