NetEase (NTES.O): Expect Positive Flow From Upcoming Shift To Dual-Primary Listing in HK Starting Jun 30

Research evidence excerpt

NetEase (NTES.O): Expect Positive Flow From Upcoming Shift To Dual-Primary Listing in HK Starting Jun 30

NetEase (NTES.O)

26 June 2026 Citi Research

HK primary listing effective Jun 30 – On Jun 26 before HK market opened, NetEase filed an announcement on HKEx (link)

regarding migration exchange notice in HK listing. As disclosed on Mar 2, NetEase received a notice from HKEx on Feb 27 with

the decision that 55% or more of the total worldwide trading volume by dollar value of NetEase’s shares over the 2025 fiscal

year had taken place on the markets of HKEx and this suggests that the majority of trading in NetEase’s listed shares has

migrated to HKEx on a permanent basis. NetEase will have a grace period of 12 months from the date of migration exchange

notice (i.e. until Feb 27, 2027). HKEx will regard NetEase to have a dual-primary (rather than a secondary) listing status

thereafter. As a result, NetEase has elected to become a dual-primary listed company on HKEx effective from Jun 30. The stock

marker “S” will be removed from its stock short name on HKEx and the grace period will end upon HK primary effective date.

NetEase also announced Ms. Lai Janette Tin Yun and Ms. Li Ching Man were appointed as joint company secretaries of NetEase

with effect from HK primary effective date.

Pre-release warm-up of Sea of Remnants on Jun 26 – Given NetEase has already announced upcoming release of Sea of

Remnants by Jul, the title will organize a pre-release warm up live-streaming at 6PM on Jun 26 to reveal the official date of

public testing, multiple endings on main storylines, in-game rewards, IP collaboration, UGC ecosystem. The live-streaming

session will be available on main live-streaming channels such as Douyin Games, Bilibili, RedNote Games, Kuaishou, NetEase