NetEase Cloud Music Inc. (9899) Highlights Q3 2025 Figures Following NetEase Inc. (9999) Disclosure

Bulletin Express11-20

NetEase Cloud Music Inc. (9899) and its controlling shareholder NetEase Inc. (9999) released key financial information for the quarter ended 30 September 2025. According to the announcement by NetEase Inc., NetEase Cloud Music recorded net revenues of RMB2.0 billion (approximately US$275.9 million) for the period, representing a 1.8% year-on-year decrease compared to the same quarter in 2024.

NetEase Inc. reported that, under U.S. GAAP, NetEase Cloud Music’s cost of revenues reached RMB1.27 billion, while gross profit stood at around RMB695 million. The figures provided are not directly comparable to results prepared under International Financial Reporting Standards, which are adopted by NetEase Cloud Music Inc. for its own financial reporting.

The information released by NetEase Inc. remains unaudited and may differ from NetEase Cloud Music Inc.’s official reports prepared under IFRSs. Investors are advised to interpret the disclosed details with caution and refer to the company’s announcements for definitive financial statements.

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