NetEase has risen by 85% in nine months
In July, the share price of the Chinese company NetEase rose to a record level in 2023, Bloomberg reports. Successful releases of games in China helped in this.
At the close of the exchange on July 4, NetEase was worth 160 Hong Kong dollars (20.4 US dollars) per share. This is 85.64% more than in October 2022: then the shares were trading at the lowest price in the company’s history.
Like many gaming companies in China, NetEase shares began to rise in price last November amid the easing of restrictions by the Chinese authorities. However, investors’ optimism about NetEase also increased after the release of new games.
Released on June 30, Justice Mobile, the company’s first game with a built—in neural network, was among the top three highest—grossing mobile games in China on July 2. She also, along with Eggy Party and Racing Master, topped the game downloads chart in China (Racing Master at the same time entered the world’s top 10 most downloaded mobile games by the end of June).
