NetEase Cloud Music Inc

09899: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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NetEase Cloud Music Earnings: Operating Leverage Strengthens; Valuation Raised by 6% to HKD 340

Ivan Su

Aug 15, 2025

NetEase Cloud Music's first‑half music subscription revenue rose 15% year on year. However, total revenue growth was tempered by a 43% decline in livestreaming, reflecting proactive adjustments to that business. Operating profit increased 41%.

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NetEase Cloud Music Inc

NetEase Cloud Music Earnings: Operating Leverage Strengthens; Valuation Raised by 6% to HKD 340

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