NetEase Cloud Music Inc

09899: XHKG (HKG)

Morningstar Rating for Stocks	Fair Value	Economic Moat	Capital Allocation
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Cloud Music Earnings: Deep Value as Soda Threat Overblown; Shares Remain Very Cheap

Ivan Su

Feb 12, 2026

Cloud Music reported a 5% year-on-year revenue growth in the fourth quarter of 2025 and a 36% jump in operating profit for the second half of 2025. However, the stock sold off due to the absence of shareholder returns initiatives and persistent concerns over Soda Music’s entry into the market.

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NetEase Cloud Music Inc

Cloud Music Earnings: Deep Value as Soda Threat Overblown; Shares Remain Very Cheap

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