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NetEase returns to Hong Kong IPO: the hope and reality in its story
After 20 years of listing on the NASDAQ, NetEase launched a secondary listing on the Hong Kong stock exchange at $123 Hong Kong dollars per share.
As a Chinese gaming company, NetEase's market value has reached $10 billion. However, seeking new profit growth engine and drawing a broader business map are much better than only focusing on gaming business.
In fact, from games field to e-commerce, music, and education field, NetEase has gone through several business transformations since its listing in 2001.
In the tough 2019, NetEase first included "games, e-commerce, education, music" in the four major strategies. And then NetEase started the company's structural optimization: its cross-border e-commerce platform Kaola unit was sold to Alibaba for $2 billion; its private-label e-commerce brand Yanxuan changed person in charge, and at the same time, its online education brand Youdao made its debut on the New York Stock Exchange.