NetEase, Inc.

NTES · XNAS

CIK 1110646fmd_0CE1RAN2J8NQBKQY8P9W7DBWJ1Services · Services-Prepackaged SoftwareTemplate: Standard

Coverage: Jan 01, 2008 to Dec 31, 2025, 18 periods

Income Statement · Annual · Millions · CNY
Line item	FY2016	FY2017	FY2018	FY2019	FY2020	FY2021	FY2022	FY2023	FY2024	FY2025
Total revenues	38,179	44,437	51,179	59,241	73,667	87,606	96,496	103,468	105,295	112,626
Cost of revenue	16,515	19,394	23,832	27,686	34,684	40,635	43,730	40,405	39,488	40,224
Gross profit	21,664	25,043	27,346	31,555	38,983	46,971	52,766	63,063	65,807	72,402
Research and development	3,047	4,162	7,378	8,413	10,369	14,076	15,039	16,485	17,525	17,719
Selling, general and administrative	5,988	7,886	9,990	9,351	14,076	16,478	18,099	18,869	18,698	18,848
Total operating expenses	9,035	12,048	17,369	17,765	24,445	30,554	33,138	35,354	36,223	36,567
Operating income	12,629	12,995	9,977	13,791	14,538	16,417	19,629	27,709	29,584	35,835
Other non-operating income (expense)	378	272	587	439	737	710	847	1,054	602	1,087
Income before taxes	13,895	13,840	11,077	16,383	15,372	21,104	24,250	34,057	35,718	40,830
Income tax expense	2,102	2,156	2,461	2,915	3,042	4,128	5,032	4,700	5,461	6,033
Net income from continuing operations	11,793	11,684	8,616	13,469	12,330	16,976	19,218	29,357	30,256	34,798
Net income	11,605	10,849	6,477	21,431	12,330	16,976	19,843	29,357	30,256	34,798
Net income to common shareholders	11,605	10,708	6,152	21,238	12,063	16,857	20,338	29,417	29,698	33,760