Guosen Securities: Maintains NetEase-S (09999.HK) "outperform the market" rating, classic games demonstrate long-term value.

According to the Zhixin Finance APP, Guoxin Securities released a research report stating that Netease-S (09999.HK) has seen a high increase in deferred revenue, which will power future revenue growth in subsequent quarters. The report is focusing on the progress of new games such as "The Sea of Forgetfulness" and "Infinite". It maintains that the adjusted net profit attributable to the mother for 2026-2028 is 40.6 billion yuan, 44.7 billion yuan, and 48 billion yuan respectively. The "outperform the market" rating is continued.