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NetEase, Inc. American Depositary Receipt represents ownership interests in NetEase, Inc., a China-based internet and digital content company headquartered in Hangzhou. NetEase focuses on providing premium online services centered on content creation, with a primary emphasis on games and related value-added services across mobile, PC, and console platforms. The company operates several key business segments: games and related value-added services, online education technology via Youdao, music streaming and social entertainment through NetEase Cloud Music, and a portfolio of innovative businesses and other consumer internet services. NetEase serves a broad user base in China and internationally, offering self-developed game franchises, live-service game operations, AI-enabled learning tools, smart education devices, music streaming memberships, and select e-commerce and other internet services. Within the global digital entertainment and consumer internet landscape, NetEase plays a significant role as both a developer and publisher, monetizing frequent user engagement across its interconnected content platforms.