China-based gaming company and Web portal NetEase (NTES) announced Wednesday that its wholly-owned e-commerce subsidiary has agreed to form a joint venture focused on Internet crowdfunding and other Internet finance businesses. NetEase said that its Ujia E-commerce Co. subsidiary will form a joint venture with Everbright Securities and HNA Group. Shanghai-based Everbright Securities is a state-controlled brokerage, one of the largest securities
China-based online gaming company NetEase (NTES) beat on revenue and earnings in Q1, super-charged by sales of mobile video games as the company expands its global reach. NetEase stock was up 7.1% to 139.20 in afternoon trading in the stock market today, hitting a record high intraday. NetEase stock has gained 40% so far in 2015. NetEase earned $1.74 a share excluding various items, up 26% year over year, and beating the $1.40 EPS ex items that
Flash seller Vipshop (VIPS), online travel site Ctrip (CTRP), Web gaming player NetEase (NTES) and drug testing outsourcer WuXi Pharmatech (WX) rose as the Chinese stocks reported strong earnings late Wednesday. That followed strong results from Chinese Internet giant Tencent (TCEHY) before the open. Vipshop Holdings: The Chinese flash discount online retailer’s Q1 EPS more than doubled to 13 cents, beating estimates by 3 cents, led by mobile