Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934: China

The filing presents NetEase’s audited financial statements and management discussion for the fiscal year ended December 31, 2023. It outlines the company’s overall performance, strategic initiatives, and regulatory compliance within the Chinese gaming and internet services sector. Key financial highlights include a 12‑month revenue of approximately CNY 70 billion, up from CNY 65 billion in the prior year, driven largely by domestic game sales and cloud‑based services. Operating income rose to CNY 9.5 billion, reflecting improved cost management and higher gross margins on subscription‑based offerings.

NetEase’s geographic focus remains concentrated in Mainland China, with a modest international presence through overseas game publishing and e‑commerce partnerships. The report covers the period from January 1 to December 31, 2023, and segments operations into gaming, e‑commerce, and other internet services. Management discusses regulatory challenges, including tightening data privacy rules and content licensing restrictions that have impacted game approvals and monetization models.

Methodologically, the filing relies on audited financial statements prepared under Chinese GAAP, supplemented by internal management commentary and risk assessments. The document concludes with forward‑looking statements regarding anticipated market trends, investment in new IP development, and ongoing efforts to diversify revenue streams beyond core gaming.