NetEase: brands it owns and its ownership tree
NetEase (Nasdaq: NTES, HKEX: 9999) is a publicly listed company headquartered in Hong Kong, Hong Kong that owns 10 consumer brands.[1][2]
NetEase is a Cayman Islands holding company, incorporated in 1999, whose annual report says its business was founded in China in June 1997 and whose principal executive offices are in Hong Kong. It runs online games, the NetEase Cloud Music streaming service, Youdao learning and the Yanxuan private-label e-commerce brand. NetEase Cloud Music (HKEX 9899) and Youdao (NYSE: DAO) are listed majority-controlled subsidiaries, and the filing gives no percentage for either. Marvel Rivals, Diablo Immortal and Racing Master are not listed here because they use licensed or co-developed intellectual property.
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brands owned
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acquisitions recorded
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divestitures recorded
Company facts
- Legal name
- NetEase, Inc.
- Type
- publicly listed company · see all publicly listed company owners
- Headquarters
- 🇭🇰 Hong Kong, Hong Kong
- Founded
- 1997
- Tickers
- Nasdaq: NTES HKEX: 9999
- Revenue
- CN¥112.6 billion (2025)[2]
- SEC CIK
- 0001110646
- Website
- ir.netease.com
- Last verified
- · 2 sources
What NetEase's annual report says about its business
Read from NetEase's latest annual filing[1]. Each line gives the sentence the filing uses, copied word for word.
Segments the filing names
- Games and related value-added services, Youdao, NetEase Cloud Music, Innovative businesses and others:
The following table sets forth our revenue by segment for the periods indicated. For the year ended December 31, 2023 2024 2025 2025 RMB RMB RMB US$ (in thousands) Net revenues: Games and related value-added services 81,565,449 83,622,643 92,148,608 13,177,075 Youdao 5,389,208 5,625,919 5,909,019 844,979 NetEase Cloud Music 7,866,992 7,950,146 7,759,450 1,109,587 Innovative businesses and others 8,646,510 8,096,528 6,808,730 973,635 Total net revenues 103,468,159 105,295,236 112,625,807 16
Acquisitions and disposals named in the filing
- Sold or exited: Academic AST Business (2021).
Youdao historically offered a major portion of its learning services through its Academic AST Business, but it disposed of such business in 2021 in order to comply with applicable PRC regulatory requirements adopted by the PRC government.
NetEase in numbers
- NetEase owns 10 consumer brands tracked here across 1 top-level categories; the largest is internet & digital with 10 brands.[1]
- 10 of its brands originated outside Hong Kong.
NetEase financial history
Headline figures from NetEase's annual reports filed with the US Securities and Exchange Commission, in CNY as reported, fiscal years ending 2020–2025. Revenue moved from CN¥73.7bn to CN¥112.6bn, an average of 8.9% a year (calculated).
| Fiscal year ended | Revenue | Operating income | Operating margin | Net income | Total assets | Long-term debt | Filing |
|---|---|---|---|---|---|---|---|
| CN¥112.6bn | CN¥35.8bn | 31.8% | — | CN¥221.4bn | — | 20-F | |
| CN¥105.3bn | CN¥29.6bn | 28.1% | — | CN¥196bn | CN¥428m | 20-F | |
| CN¥103.5bn | CN¥27.7bn | 26.8% | — | CN¥185.9bn | CN¥428m | 20-F | |
| CN¥96.5bn | CN¥19.6bn | 20.3% | — | CN¥172.8bn | CN¥3.65bn | 20-F | |
| CN¥87.6bn | CN¥16.4bn | 18.7% | — | CN¥153.6bn | CN¥1.28bn | 20-F | |
| CN¥73.7bn | CN¥14.5bn | 19.7% | — | CN¥141.9bn | — | 20-F |
Source: SEC XBRL company facts. A dash means the company did not report that line in a form we could read. Figures for a year can be restated in a later filing; the latest filing's number is shown.
Everything NetEase owns
Controlling ownership as of . Brands grouped under the entity that owns them; large groups are collapsed.
Full-screen interactive tree → · Download as infographic
Brand portfolio by category
Recent changes to this record
- · Fantasy Westward Journey added to the dataset
- · Identity V added to the dataset
- · Naraka: Bladepoint added to the dataset
- · NetEase Cloud Music added to the dataset
- · Once Human added to the dataset
- · Onmyoji added to the dataset
- · Westward Journey Online added to the dataset
- · Where Winds Meet added to the dataset
NetEase SEC filings
The documents behind the figures on this page, as listed in the SEC's EDGAR index. Each links to the filing itself.
Annual reports
- Annual report (foreign issuer), filed (20-F)
- Annual report (foreign issuer), filed (20-F)
- Annual report (foreign issuer), filed (20-F)
- Annual report (foreign issuer), filed (20-F)
- Annual report (foreign issuer), filed (20-F)
- Annual report (foreign issuer), filed (20-F)
Recent current and quarterly reports
| Filed | Form | What it declares |
|---|---|---|
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer | |
| 6-K | Report of a foreign private issuer |
Frequently asked questions
What brands does NetEase own?
NetEase owns 10 consumer brands tracked here, including NetEase Cloud Music, Fantasy Westward Journey, Youdao, Westward Journey Online, Where Winds Meet and Yanxuan.
Is NetEase a Hong Kong company?
Yes. NetEase is headquartered in Hong Kong, Hong Kong and was founded in 1997.
Who owns NetEase?
NetEase is a publicly listed company owned by its shareholders; it trades as NTES on the Nasdaq and 9999 on the HKEX.
Sources (2) & corrections
Last verified . Every ownership fact above is backed by one of these primary documents. Numbers in brackets in the text refer to this list.
- [1] NetEase, Inc. Annual Report on Form 20-F filed 2026-04-15 — SEC EDGAR, SEC Form 20-F, published 15 April 2026; retrieved 4 October 2026.
- [2] NetEase, Inc.: Form 20-F for the year ended 2025-12-31 (revenue) — SEC EDGAR, SEC Form 20-F, published 15 April 2026; retrieved 4 October 2026.
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