Technology
NetEase Announces Fourth Quarter and Fiscal Year 2024 Unaudited Financial Results
Published
2 years agoon
By
HANGZHOU, China, Feb. 20, 2025 /PRNewswire/ — NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase” or the “Company”), a leading internet and game services provider, today announced its unaudited financial results for the fourth quarter and fiscal year ended December 31, 2024.
Fourth Quarter 2024 Financial Highlights
Net revenues were RMB26.7 billion (US$3.7 billion), a decrease of 1.4% compared with the same quarter of 2023.Games and related value-added services net revenues were RMB21.2 billion (US$2.9 billion), an increase of 1.5% compared with the same quarter of 2023.Youdao net revenues were RMB1.3 billion (US$183.6 million), a decrease of 9.5% compared with the same quarter of 2023.NetEase Cloud Music net revenues were RMB1.9 billion (US$257.6 million), a decrease of 5.3% compared with the same quarter of 2023.Innovative businesses and others net revenues were RMB2.3 billion (US$313.1 million), a decrease of 17.0% compared with the same quarter of 2023.Gross profit was RMB16.3 billion (US$2.2 billion), a decrease of 3.3% compared with the same quarter of 2023.Total operating expenses were RMB8.5 billion (US$1.2 billion), a decrease of 15.1% compared with the same quarter of 2023.Net income attributable to the Company’s shareholders was RMB8.8 billion (US$1.2 billion). Non-GAAP net income attributable to the Company’s shareholders was RMB9.7 billion (US$1.3 billion).[1]Basic net income per share was US$0.38 (US$1.89 per ADS). Non-GAAP basic net income per share was US$0.42 (US$2.09 per ADS).[1]
[1] As used in this announcement, non-GAAP net income attributable to the Company’s shareholders and non-GAAP basic and diluted net income per share and per ADS are defined to exclude share-based compensation expenses. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement.
Fourth Quarter 2024 and Early 2025 Operational Highlights
Introduced more new blockbuster games around the globe, reinforcing NetEase’s leadership across diverse genres and growing global momentum.Marvel Rivals topped Steam’s global top sellers chart shortly after its launch on December 6, amassing over 10 million registered users within 72 hours and over 40 million to date. Its Season 1 update in January 2025 sparked another surge, claiming the No. 1 spots on Steam’s top sellers and most-played charts worldwide.Where Winds Meet surpassed 3 million downloads in China within four days of its PC launch and topped the iOS download chart for approximately two weeks following its mobile launch. A successful release of the game’s mobile version drove total players across PC and mobile to over 15 million within two weeks.Justice mobile game topped the iOS download charts in Hong Kong, Macau and Taiwan and reached No. 1 position on the iOS top grossing chart in Taiwan in January 2025.Blizzard titles World of Warcraft and Hearthstone continued to generate strong enthusiasm from the Chinese gaming community, while the return of Overwatch 2 on February 19, 2025 further fueled players’ passion.Established titles maintained their popularity, such as Westward Journey Online 2, Fantasy Westward Journey Online and mobile game, Infinite Borders, Onmyoji, Identity V, Naraka: Bladepoint and Justice franchise, demonstrating NetEase’s prowess in long-term game operations.New game lineup for global markets, including Fragpunk, Destiny: Rising and MARVEL Mystic Mayhem, positioned to further diversify game portfolio.Youdao continued to focus on technology-driven innovation and profitability enhancement, achieving a 10.3% year-over-year increase in operating profit during the fourth quarter and recording first-ever annual operating profit in 2024.NetEase Cloud Music continued to drive quality development across its music-centric ecosystem, remaining committed to nurturing its unique community and enriching its distinctive content offering. It also further improved music-oriented monetization supported by enlarging subscription-based memberships.
“We boldly pushed the boundaries of innovation once again in 2024, delivering groundbreaking gaming experiences that captivated players worldwide,” said Mr. William Ding, Chief Executive Officer and Director of NetEase. “Our new hit titles not only redefined gameplay but also set new industry benchmarks, while our legacy franchises gained fresh momentum through striking enhancements in design, storytelling and immersive content. As our diverse game portfolio expands across more genres and engages an ever-growing global audience, we remain dedicated to fostering creativity and collaborating with top talent and strategic partners to shape the next wave of gaming trends.
“Beyond gaming, Youdao and NetEase Cloud Music maintained healthy development in 2024, led by our focus on meticulously crafted content and exceptional user experiences. Our enduring pursuit of innovation, global expansion and game diversification is fueling lasting value creation across the industries we serve and for our partners and shareholders alike,” Mr. Ding concluded.
Fourth Quarter 2024 Financial Results
Net Revenues
Net revenues for the fourth quarter of 2024 were RMB26.7 billion (US$3.7 billion), compared with RMB26.2 billion and RMB27.1 billion for the preceding quarter and the same quarter of 2023, respectively.
Net revenues from games and related value-added services were RMB21.2 billion (US$2.9 billion) for the fourth quarter of 2024, compared with RMB20.9 billion each for the preceding quarter and the same quarter of 2023. Net revenues from the operation of online games accounted for approximately 96.7% of the segment’s net revenues for the fourth quarter of 2024, compared with 96.8% and 93.4% for the preceding quarter and the same quarter of 2023, respectively. Net revenues from mobile games accounted for approximately 65.3% of net revenues from the operation of online games for the fourth quarter of 2024, compared with 70.8% and 76.7% for the preceding quarter and the same quarter of 2023, respectively. The change in revenue mix was mainly due to the increased net revenues from PC games, including certain licensed titles.
Net revenues from Youdao were RMB1.3 billion (US$183.6 million) for the fourth quarter of 2024, compared with RMB1.6 billion and RMB1.5 billion for the preceding quarter and the same quarter of 2023, respectively.
Net revenues from NetEase Cloud Music were RMB1.9 billion (US$257.6 million) for the fourth quarter of 2024, compared with RMB2.0 billion each for the preceding quarter and the same quarter of 2023.
Net revenues from innovative businesses and others were RMB2.3 billion (US$313.1 million) for the fourth quarter of 2024, compared with RMB1.8 billion and RMB2.8 billion for the preceding quarter and the same quarter of 2023, respectively.
Gross Profit
Gross profit for the fourth quarter of 2024 was RMB16.3 billion (US$2.2 billion), compared with RMB16.5 billion and RMB16.8 billion for the preceding quarter and the same quarter of 2023, respectively.
The quarter-over-quarter and year-over-year decreases in games and related value-added services’ gross profit were primarily due to decreased net revenues from certain mobile games, partially offset by increased net revenues from PC games, including certain licensed titles.
The quarter-over-quarter and year-over-year decreases in Youdao’s gross profit were primarily due to decreased net revenues from its learning services.
The quarter-over-quarter decrease in NetEase Cloud Music’s gross profit was primarily due to decreased net revenues from social entertainment services.
The quarter-over-quarter increase in innovative businesses and others’ gross profit was primarily due to increased gross profit from Yanxuan and advertising services. The year-over-year decrease was primarily due to decreased gross profit from several businesses within the segment including advertising services.
Gross Profit Margin
Gross profit margin for games and related value-added services for the fourth quarter of 2024 was 66.7%, compared with 68.8% and 69.5% for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly attributable to higher revenue contribution from licensed games which have comparatively lower gross profit margins.
Gross profit margin for Youdao for the fourth quarter of 2024 was 47.8%, compared with 50.2% and 49.9% for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to decreased revenue contribution from its learning services.
Gross profit margin for NetEase Cloud Music for the fourth quarter of 2024 was 31.9%, compared with 32.8% and 30.3% for the preceding quarter and the same quarter of 2023, respectively. The year-over-year increase was mainly due to increased net revenues from sales of membership subscriptions and continued improvement in cost control measures.
Gross profit margin for innovative businesses and others for the fourth quarter of 2024 was 37.8%, compared with 37.8% and 34.4% for the preceding quarter and the same quarter of 2023, respectively. The year-over-year increase was mainly due to increased gross profit margins from Yanxuan.
Operating Expenses
Total operating expenses for the fourth quarter of 2024 were RMB8.5 billion (US$1.2 billion), compared with RMB9.3 billion and RMB10.0 billion for the preceding quarter and the same quarter of 2023, respectively. The quarter-over-quarter and year-over-year decreases were mainly due to decreased marketing expenditures related to games and related value-added services.
Other Income/(Expenses)
Other income/(expenses) consisted of investment (losses)/income, interest income, exchange gains/(losses) and others. The quarter-over-quarter and year-over-year increases were mainly due to net exchange gains in the fourth quarter of 2024 compared with net exchange losses recorded in the preceding quarter and the same quarter of 2023.
Income Tax
The Company recorded a net income tax charge of RMB1.4 billion (US$189.7 million) for the fourth quarter of 2024, compared with RMB1.3 billion and RMB1.1 billion for the preceding quarter and the same quarter of 2023, respectively. The effective tax rate for the fourth quarter of 2024 was 13.4%, compared with 16.1% and 13.8% for the preceding quarter and the same quarter of 2023, respectively. The effective tax rate represents certain estimates by the Company as to the tax obligations and benefits applicable to it in each quarter.
Net Income and Non-GAAP Net Income
Net income attributable to the Company’s shareholders totaled RMB8.8 billion (US$1.2 billion) for the fourth quarter of 2024, compared with RMB6.5 billion and RMB6.6 billion for the preceding quarter and the same quarter of 2023, respectively.
Basic net income was US$0.38 per share (US$1.89 per ADS) for the fourth quarter of 2024, compared with US$0.28 per share (US$1.40 per ADS) each for the preceding quarter and the same quarter of 2023, respectively.
Non-GAAP net income attributable to the Company’s shareholders totaled RMB9.7 billion (US$1.3 billion) for the fourth quarter of 2024, compared with RMB7.5 billion and RMB7.4 billion for the preceding quarter and the same quarter of 2023, respectively.
Non-GAAP basic net income was US$0.42 per share (US$2.09 per ADS) for the fourth quarter of 2024, compared with US$0.32 per share (US$1.61 per ADS) and US$0.32 per share (US$1.57 per ADS) for the preceding quarter and the same quarter of 2023, respectively.
Fiscal Year 2024 Financial Results
Net Revenues
Net revenues for fiscal year 2024 were RMB105.3 billion (US$14.4 billion), compared with RMB103.5 billion for fiscal year 2023.
Net revenues from games and related value-added services were RMB83.6 billion (US$11.5 billion) for fiscal year 2024, compared with RMB81.6 billion for fiscal year 2023. Net revenues from the operation of online games accounted for approximately 96.2% of the segment’s total net revenues for fiscal year 2024, compared with 92.9% for fiscal year 2023. Net revenues from mobile games accounted for approximately 72.7% of net revenues from the operation of online games for fiscal year 2024, compared with 75.2% for fiscal year 2023. The change in revenue mix was mainly due to higher net revenues generated by PC games such as Naraka: Bladepoint and licensed titles.
Net revenues from Youdao were RMB5.6 billion (US$770.7 million) for fiscal year 2024, compared with RMB5.4 billion for fiscal year 2023.
Net revenues from NetEase Cloud Music were RMB8.0 billion (US$1.1 billion) for fiscal year 2024, compared with RMB7.9 billion for fiscal year 2023.
Net revenues from innovative businesses and others were RMB8.1 billion (US$1.1 billion) for fiscal year 2024, compared with RMB8.6 billion for fiscal year 2023.
Gross Profit
Gross profit for fiscal year 2024 was RMB65.8 billion (US$9.0 billion), compared with RMB63.1 billion for fiscal year 2023.
The year-over-year increase in games and related value-added services’ gross profit was primarily due to increased net revenues from the operation of online games, such as Identity V and Naraka: Bladepoint PC and mobile games.
The slight year-over-year decrease in Youdao’s gross profit was mainly due to decreased revenue contribution from its learning services, which was partially offset by increased revenue contribution from its online marketing services.
The year-over-year increase in NetEase Cloud Music’s gross profit was primarily attributable to increased net revenues from sales of membership subscriptions and continued improvement in cost control measures.
The year-over-year increase in innovative businesses and others’ gross profit was primarily due to increased gross profits from Yanxuan and several other businesses included within the segment.
Operating Expenses
Total operating expenses for fiscal year 2024 were RMB36.2 billion (US$5.0 billion), compared with RMB35.4 billion for fiscal year 2023. The year-over-year increase was primarily due to higher research and development investments for games and related value-added services.
Other Income/(Expenses)
The year-over-year decrease was mainly due to higher impairment provisions related to certain investments, which was partially offset by higher interest income resulting from the Company’s increased net cash position.
Income Taxes
The Company recorded a net income tax charge of RMB5.5 billion (US$748.2 million) for fiscal year 2024, compared with RMB4.7 billion for fiscal year 2023. The effective tax rate was 15.3% for fiscal year 2024, compared with 13.8% for fiscal year 2023.
Net Income and Non-GAAP Net Income
Net income attributable to the Company’s shareholders for fiscal year 2024 totaled RMB29.7 billion (US$4.1 billion), compared with RMB29.4 billion for fiscal year 2023.
Basic net income was US$1.27 per share (US$6.36 per ADS) for fiscal year 2024, compared with US$1.25 per share (US$6.26 per ADS) for fiscal year 2023.
Non-GAAP net income attributable to the Company’s shareholders for fiscal year 2024 totaled RMB33.5 billion (US$4.6 billion), compared with RMB32.6 billion for fiscal year 2023.
Non-GAAP basic net income was US$1.43 per share (US$7.17 per ADS) for fiscal year 2024, compared with US$1.39 per share (US$6.94 per ADS) for fiscal year 2023.
Other Financial Information
As of December 31, 2024, the Company’s net cash (total cash and cash equivalents, current and non-current time deposits and restricted cash, as well as short-term investments balance, minus short-term and long-term loans) totaled RMB131.5 billion (US$18.0 billion), compared with RMB110.9 billion as of December 31, 2023. Net cash provided by operating activities was RMB39.7 billion (US$5.4 billion) for fiscal year 2024, compared with RMB35.3 billion for fiscal year 2023.
Quarterly Dividend
The board of directors approved a dividend of US$0.24405 per share (US$1.22025 per ADS) for the fourth quarter of 2024 to holders of ordinary shares and holders of ADSs as of the close of business on March 6, 2025, Beijing/Hong Kong Time and New York Time, respectively, payable in U.S. dollars. For holders of ordinary shares, in order to qualify for the dividend, all valid documents for the transfer of shares accompanied by the relevant share certificates must be lodged for registration with the Company’s Hong Kong branch share registrar, Computershare Hong Kong Investor Services Limited, at Shops 1712-1716, 17th Floor, Hopewell Centre, 183 Queen’s Road East, Wanchai, Hong Kong, no later than 4:30 p.m. on March 6, 2025 (Beijing/Hong Kong Time). The payment date is expected to be March 17, 2025, for holders of ordinary shares and on or around March 20, 2025, for holders of ADSs.
NetEase paid a dividend of US$0.0870 per share (US$0.4350 per ADS) for the third quarter of 2024 in December 2024.
Under the Company’s current dividend policy, the determination to make dividend distributions and the amount of such distribution in any particular quarter will be made at the discretion of its board of directors and will be based upon the Company’s operations and earnings, cash flow, financial condition and other relevant factors.
Share Repurchase Program
On November 17, 2022, the Company announced that its board of directors had approved a share repurchase program of up to US$5.0 billion of the Company’s ADSs and ordinary shares in open market transactions. This share repurchase program commenced on January 10, 2023 and will be in effect for a period not to exceed 36 months from such date. As of December 31, 2024, approximately 21.2 million ADSs had been repurchased under this program for a total cost of US$1.9 billion.
The extent to which NetEase repurchases its ADSs and its ordinary shares depends upon a variety of factors, including market conditions. These programs may be suspended or discontinued at any time.
** The United States dollar (US$) amounts disclosed in this announcement are presented solely for the convenience of the reader. The percentages stated are calculated based on RMB.
Conference Call
NetEase’s management team will host a teleconference call with a simultaneous webcast at 7:00 a.m. New York Time on Thursday, February 20, 2025 (Beijing/Hong Kong Time: 8:00 p.m., Thursday, February 20, 2025). NetEase’s management will be on the call to discuss the quarterly results and answer questions.
Interested parties may participate in the conference call by dialing 1-914-202-3258 and providing conference ID: 10044895, 15 minutes prior to the initiation of the call. A replay of the call will be available by dialing 1-855-883-1031 and entering PIN: 10044895. The replay will be available through February 27, 2025.
This call will be webcast live and the replay will be available for 12 months. Both will be available on NetEase’s Investor Relations website at http://ir.netease.com/.
About NetEase, Inc.
NetEase, Inc. (NASDAQ: NTES and HKEX: 9999, “NetEase”) is a leading internet and game services provider centered around premium content. With extensive offerings across its expanding gaming ecosystem, the Company develops and operates some of the most popular and longest running mobile and PC games available in China and globally.
Powered by one of the largest in-house game R&D teams focused on mobile, PC and console, NetEase creates superior gaming experiences, inspires players, and passionately delivers value for its thriving community worldwide. By infusing play with culture, and education with technology, NetEase transforms gaming into a meaningful vehicle to build a more entertaining and enlightened world.
Beyond games, NetEase service offerings include its majority-controlled subsidiaries Youdao (NYSE: DAO), an intelligent learning company with industry-leading technology, and NetEase Cloud Music (HKEX: 9899), a well-known online music platform featuring a vibrant content community, as well as Yanxuan, NetEase’s private label consumer lifestyle brand.
For more information, please visit: http://ir.netease.com/.
Forward Looking Statements
This announcement contains statements of a forward-looking nature. These statements are made under the “safe harbor” provisions of the U.S. Private Securities Litigation Reform Act of 1995. You can identify these forward-looking statements by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates” and similar expressions. In addition, statements that are not historical facts, including statements about NetEase’s strategies and business plans, its expectations regarding the growth of its business and its revenue and the quotations from management in this announcement are or contain forward-looking statements. NetEase may also make forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission (the “SEC”), in announcements made on the website of The Stock Exchange of Hong Kong Limited (the “Hong Kong Stock Exchange”), in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. The accuracy of these statements may be impacted by a number of business risks and uncertainties that could cause actual results to differ materially from those projected or anticipated, including risks related to: the risk that the online games market will not continue to grow or that NetEase will not be able to maintain its position in that market in China or globally; risks associated with NetEase’s business and operating strategies and its ability to implement such strategies; NetEase’s ability to develop and manage its operations and business; competition for, among other things, capital, technology and skilled personnel; potential changes in regulation environment in the markets where NetEase operates; the risk that NetEase may not be able to continuously develop new and creative online services or that NetEase will not be able to set, or follow in a timely manner, trends in the market; risks related to evolving economic cycles and geopolitical events; risks related to the expansion of NetEase’s businesses and operations internationally; risks associated with cybersecurity threats or incidents; and fluctuations in foreign currency exchange rates that could adversely affect NetEase’s business and financial results. Further information regarding these and other risks is included in NetEase’s filings with the SEC and announcements on the website of the Hong Kong Stock Exchange. NetEase does not undertake any obligation to update this forward-looking information, except as required under applicable law.
Non-GAAP Financial Measures
NetEase considers and uses non-GAAP financial measures, such as non-GAAP net income attributable to the Company’s shareholders and non-GAAP basic and diluted net income per ADS and per share, as supplemental metrics in reviewing and assessing its operating performance and formulating its business plan. The presentation of non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with accounting principles generally accepted in the United States of America (“U.S. GAAP”).
NetEase defines non-GAAP net income attributable to the Company’s shareholders as net income attributable to the Company’s shareholders excluding share-based compensation expenses. Non-GAAP net income attributable to the Company’s shareholders enables NetEase’s management to assess its operating results without considering the impact of share-based compensation expenses. NetEase believes that this non-GAAP financial measure provides useful information to investors in understanding and evaluating the Company’s current operating performance and prospects in the same manner as management does, if they so choose. NetEase also believes that the use of this non-GAAP financial measure facilitates investors’ assessment of its operating performance.
Non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. Non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP net income attributable to the Company’s shareholders is that it does not reflect all items of expense/ income that affect our operations. Share-based compensation expenses have been and may continue to be incurred in NetEase’s business and are not reflected in the presentation of non-GAAP net income attributable to the Company’s shareholders. In addition, the non-GAAP financial measures NetEase uses may differ from the non-GAAP measures used by other companies, including peer companies, and therefore their comparability may be limited.
NetEase compensates for these limitations by reconciling non-GAAP net income attributable to the Company’s shareholders to the nearest U.S. GAAP performance measure, all of which should be considered when evaluating the Company’s performance. See the unaudited reconciliation of GAAP and non-GAAP results at the end of this announcement. NetEase encourages you to review its financial information in its entirety and not rely on a single financial measure.
Contact for Media and Investors:
Email: ir@service.netease.com
Tel: (+86) 571-8985-3378
NETEASE, INC.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in thousands)
December 31,
December 31,
December 31,
2023
2024
2024
RMB
RMB
USD (Note 1)
Assets
Current assets:
Cash and cash equivalents
21,428,902
51,383,310
7,039,485
Time deposits
100,856,034
75,441,355
10,335,423
Restricted cash
2,777,206
3,086,405
422,836
Accounts receivable, net
6,422,417
5,669,027
776,654
Inventories
695,374
571,548
78,302
Prepayments and other current assets, net
6,076,595
6,416,868
879,107
Short-term investments
4,436,057
10,756,143
1,473,586
Total current assets
142,692,585
153,324,656
21,005,393
Non-current assets:
Property, equipment and software, net
8,075,044
8,520,101
1,167,249
Land use rights, net
4,075,143
4,172,465
571,625
Deferred tax assets
1,560,088
1,113,435
152,540
Time deposits
1,050,000
3,025,000
414,423
Restricted cash
550
5,208
713
Other long-term assets
28,471,568
25,830,685
3,538,789
Total non-current assets
43,232,393
42,666,894
5,845,339
Total assets
185,924,978
195,991,550
26,850,732
Liabilities, Redeemable Noncontrolling Interests
and Shareholders’ Equity
Current liabilities:
Accounts payable
881,016
720,549
98,715
Salary and welfare payables
4,857,206
4,683,009
641,570
Taxes payable
2,571,534
2,759,185
378,007
Short-term loans
19,240,163
11,805,051
1,617,285
Contract liabilities
13,362,166
15,299,222
2,095,985
Accrued liabilities and other payables
12,930,399
14,400,641
1,972,879
Total current liabilities
53,842,484
49,667,657
6,804,441
Non-current liabilities:
Deferred tax liabilities
2,299,303
2,173,117
297,716
Long-term loans
427,997
427,997
58,635
Other long-term liabilities
1,271,113
1,228,641
168,323
Total non-current liabilities
3,998,413
3,829,755
524,674
Total liabilities
57,840,897
53,497,412
7,329,115
Redeemable noncontrolling interests
115,759
84,272
11,545
NetEase, Inc.’s shareholders’ equity
124,285,776
138,685,606
18,999,850
Noncontrolling interests
3,682,546
3,724,260
510,222
Total equity
127,968,322
142,409,866
19,510,072
Total liabilities, redeemable noncontrolling
interests and shareholders’ equity
185,924,978
195,991,550
26,850,732
The accompanying notes are an integral part of this announcement.
NETEASE, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF INCOME
(in thousands, except per share data or per ADS data)
Three Months Ended
Year Ended
December 31,
September 30,
December 31,
December 31,
December 31,
December 31,
December 31,
2023
2024
2024
2024
2023
2024
2024
RMB
RMB
RMB
USD (Note 1)
RMB
RMB
USD (Note 1)
Net revenues
27,140,165
26,209,879
26,747,811
3,664,435
103,468,159
105,295,236
14,425,388
Cost of revenues
(10,315,030)
(9,733,274)
(10,475,470)
(1,435,134)
(40,404,765)
(39,488,152)
(5,409,855)
Gross profit
16,825,135
16,476,605
16,272,341
2,229,301
63,063,394
65,807,084
9,015,533
Operating expenses:
Selling and marketing expenses
(4,225,556)
(3,805,071)
(2,818,645)
(386,153)
(13,969,460)
(14,147,657)
(1,938,221)
General and administrative expenses
(1,251,869)
(1,100,328)
(1,162,381)
(159,246)
(4,899,880)
(4,550,625)
(623,433)
Research and development expenses
(4,479,219)
(4,424,469)
(4,469,868)
(612,369)
(16,484,910)
(17,524,812)
(2,400,889)
Total operating expenses
(9,956,644)
(9,329,868)
(8,450,894)
(1,157,768)
(35,354,250)
(36,223,094)
(4,962,543)
Operating profit
6,868,491
7,146,737
7,821,447
1,071,533
27,709,144
29,583,990
4,052,990
Other income/(expenses):
Investment (losses)/income, net
(8,940)
578,398
(506,077)
(69,332)
1,306,722
355,286
48,674
Interest income, net
1,261,583
1,282,766
1,174,333
160,883
4,120,418
4,920,915
674,163
Exchange (losses)/gains, net
(810,904)
(1,055,518)
1,535,312
210,337
(132,999)
255,430
34,994
Other, net
434,759
43,600
278,952
38,216
1,053,642
602,134
82,492
Income before tax
7,744,989
7,995,983
10,303,967
1,411,637
34,056,927
35,717,755
4,893,313
Income tax
(1,068,657)
(1,289,545)
(1,385,014)
(189,746)
(4,699,704)
(5,461,408)
(748,210)
Net income
6,676,332
6,706,438
8,918,953
1,221,891
29,357,223
30,256,347
4,145,103
Accretion of redeemable noncontrolling
interests
(966)
(962)
(1,039)
(142)
(3,589)
(3,919)
(537)
Net (income)/loss attributable to noncontrolling
interests and redeemable noncontrolling
interests
(93,103)
(167,041)
(151,435)
(20,747)
62,918
(554,819)
(76,010)
Net income attributable to the
Company’s shareholders
6,582,263
6,538,435
8,766,479
1,201,002
29,416,552
29,697,609
4,068,556
Net income per share *
Basic
2.05
2.04
2.76
0.38
9.15
9.28
1.27
Diluted
2.02
2.03
2.73
0.37
9.05
9.19
1.26
Net income per ADS *
Basic
10.25
10.22
13.81
1.89
45.73
46.40
6.36
Diluted
10.12
10.14
13.67
1.87
45.23
45.95
6.29
Weighted average number of ordinary
shares used in calculating net income
per share *
Basic
3,212,328
3,198,646
3,174,113
3,174,113
3,216,475
3,200,453
3,200,453
Diluted
3,253,166
3,224,110
3,206,100
3,206,100
3,252,029
3,230,602
3,230,602
* Each ADS represents five ordinary shares.
The accompanying notes are an integral part of this announcement.
NETEASE, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in thousands)
Three Months Ended
Year Ended
December 31,
September 30,
December 31,
December 31,
December 31,
December 31,
December 31,
2023
2024
2024
2024
2023
2024
2024
RMB
RMB
RMB
USD (Note 1)
RMB
RMB
USD (Note 1)
Cash flows from operating activities:
Net income
6,676,332
6,706,438
8,918,953
1,221,891
29,357,223
30,256,347
4,145,103
Adjustments to reconcile net income to net cash provided
by operating activities:
Depreciation and amortization
659,772
520,567
697,447
95,550
3,055,260
2,417,894
331,250
Fair value changes of equity security, other investments
and financial instruments
151,571
(824,608)
358,852
49,163
(535,316)
(841,901)
(115,340)
Impairment losses on investments
140,648
529,668
422,801
57,924
469,159
1,291,627
176,952
Fair value changes of short-term investments
(106,532)
(100,071)
(241,431)
(33,076)
(414,207)
(530,607)
(72,693)
Share-based compensation cost
812,987
978,139
931,444
127,608
3,242,810
3,882,939
531,960
Allowance for expected credit losses
9,500
36,022
12,031
1,648
61,146
68,934
9,444
Losses/(gains) on disposal of property, equipment and software
3,385
(2,920)
(3,644)
(499)
5,676
(4,758)
(652)
Unrealized exchange losses/(gains)
838,056
1,050,644
(1,542,986)
(211,388)
119,935
(719,162)
(98,525)
(Gains)/losses on disposal of long-term investments,
business and subsidiaries
(38,437)
(118,046)
232
32
(63,784)
(272,415)
(37,321)
Deferred income taxes
193,854
711,639
404,109
55,363
131,437
320,726
43,939
Share of results on equity method investees and revaluation
results from previously held equity interest
(88,805)
(28,466)
(19,437)
(2,663)
(473,947)
155,568
21,313
Changes in operating assets and liabilities:
Accounts receivable
53,089
146,758
517,850
70,945
(1,470,374)
716,375
98,143
Inventories
25,054
(39,285)
42,135
5,772
296,764
123,780
16,958
Prepayments and other assets
542,593
(1,234,390)
(432,196)
(59,211)
87,556
(809,590)
(110,913)
Accounts payable
18,443
6,316
218,689
29,960
(559,419)
91,142
12,486
Salary and welfare payables
1,992,931
(670,750)
1,759,382
241,034
(62,917)
(210,918)
(28,896)
Taxes payable
(500,172)
224,015
154,651
21,187
(244,261)
187,788
25,727
Contract liabilities
(847,562)
1,928,060
(209,626)
(28,719)
1,161,861
2,022,196
277,041
Accrued liabilities and other payables
1,271,572
755,882
1,022,944
140,143
1,166,673
1,530,848
209,725
Net cash provided by operating activities
11,808,279
10,575,612
13,012,200
1,782,664
35,331,275
39,676,813
5,435,701
Cash flows from investing activities:
Purchase of property, equipment and software
(484,927)
(379,520)
(311,982)
(42,741)
(2,301,554)
(1,275,400)
(174,729)
Proceeds from sale of property, equipment and software
405
1,072
9,295
1,273
10,302
14,533
1,991
Purchase of intangible assets, content and licensed copyrights
(121,797)
(222,247)
(120,387)
(16,493)
(1,974,323)
(930,988)
(127,545)
Net changes of short-term investments with terms of three
months or less
(690,628)
1,585,395
3,798,989
520,460
(1,777,687)
(408,256)
(55,931)
Purchase of short-term investments with terms over three
months
–
(3,675,000)
(4,560,000)
(624,717)
–
(8,235,000)
(1,128,190)
Proceeds from maturities of short-term investments with terms
over three months
4,897,291
–
2,853,778
390,966
5,378,510
2,853,778
390,966
Investment in long-term investments and acquisition of
subsidiaries
(914,962)
(226,086)
(201,686)
(27,631)
(2,831,686)
(1,103,026)
(151,114)
Proceeds from disposal of long-term investments, businesses,
subsidiaries and other financial instruments
73,855
1,541,338
355,142
48,654
152,564
2,822,585
386,692
Placement/rollover of matured time deposits
(46,666,670)
(36,766,094)
(21,691,769)
(2,971,760)
(124,693,598)
(154,792,305)
(21,206,459)
Proceeds from maturities of time deposits
33,273,393
37,546,192
40,570,700
5,558,163
111,417,969
179,377,113
24,574,564
Change in other long-term assets
(90,635)
(125,911)
(73,553)
(10,077)
(423,928)
(406,632)
(55,708)
Net cash (used in)/provided by investing activities
(10,724,675)
(720,861)
20,628,527
2,826,097
(17,043,431)
17,916,402
2,454,537
Cash flows from financing activities:
Net changes from loans with terms of three months or less
6,179,979
(4,778,301)
606,092
83,034
(13,654,704)
(6,656,988)
(912,004)
Proceeds of loans with terms over three months
2,511,000
5,395,810
457,000
62,609
13,569,160
13,920,080
1,907,043
Payment of loans with terms over three months
(695,000)
(3,100,520)
–
–
(8,219,472)
(14,739,347)
(2,019,282)
Net amounts received/(paid) related to capital contribution from
or repurchase of noncontrolling interests shareholders
28,009
(8,394)
51,614
7,071
86,159
136,006
18,633
Cash paid for repurchase of NetEase’s ADSs/purchase of
subsidiaries’ ADSs and shares
(625,832)
(3,994,212)
(1,595,093)
(218,527)
(5,234,294)
(8,830,115)
(1,209,721)
Dividends paid to NetEase’s shareholders
(2,258,892)
(1,972,928)
(1,982,595)
(271,614)
(8,013,903)
(11,165,338)
(1,529,645)
Net cash provided/(used in) by financing activities
5,139,264
(8,458,545)
(2,462,982)
(337,427)
(21,467,054)
(27,335,702)
(3,744,976)
Effect of exchange rate changes on cash, cash equivalents and
restricted cash held in foreign currencies
(174,276)
(68,136)
113,792
15,589
(202,457)
10,752
1,473
Net increase/(decrease) in cash, cash equivalents and restricted cash
6,048,592
1,328,070
31,291,537
4,286,923
(3,381,667)
30,268,265
4,146,735
Cash, cash equivalents and restricted cash, at the beginning
of the period
18,158,066
21,855,316
23,183,386
3,176,111
27,588,325
24,206,658
3,316,299
Cash, cash equivalents and restricted cash, at end of the period
24,206,658
23,183,386
54,474,923
7,463,034
24,206,658
54,474,923
7,463,034
Supplemental disclosures of cash flow information:
Cash paid for income taxes, net
1,030,932
554,867
603,514
82,681
4,895,752
5,189,585
710,970
Cash paid for interest expenses
71,847
165,881
24,343
3,335
779,872
489,622
67,078
The accompanying notes are an integral part of this announcement.
NETEASE, INC.
UNAUDITED SEGMENT INFORMATION
(in thousands, except percentages)
Three Months Ended
Year Ended
December 31,
September 30,
December 31,
December 31,
December 31,
December 31,
December 31,
2023
2024
2024
2024
2023
2024
2024
RMB
RMB
RMB
USD (Note 1)
RMB
RMB
USD (Note 1)
Net revenues:
Games and related value-added services
20,921,355
20,864,036
21,242,410
2,910,198
81,565,449
83,622,643
11,456,254
Youdao
1,480,521
1,572,541
1,339,798
183,552
5,389,208
5,625,919
770,748
NetEase Cloud Music
1,985,548
1,999,163
1,880,490
257,626
7,866,992
7,950,146
1,089,166
Innovative businesses and others
2,752,741
1,774,139
2,285,113
313,059
8,646,510
8,096,528
1,109,220
Total net revenues
27,140,165
26,209,879
26,747,811
3,664,435
103,468,159
105,295,236
14,425,388
Cost of revenues:
Games and related value-added services
(6,383,474)
(6,503,146)
(7,075,562)
(969,348)
(25,938,865)
(26,142,623)
(3,581,525)
Youdao
(741,720)
(783,085)
(699,045)
(95,769)
(2,621,746)
(2,877,428)
(394,206)
NetEase Cloud Music
(1,384,537)
(1,343,921)
(1,279,951)
(175,353)
(5,764,322)
(5,268,634)
(721,800)
Innovative businesses and others
(1,805,299)
(1,103,122)
(1,420,912)
(194,664)
(6,079,832)
(5,199,467)
(712,324)
Total cost of revenues
(10,315,030)
(9,733,274)
(10,475,470)
(1,435,134)
(40,404,765)
(39,488,152)
(5,409,855)
Gross profit:
Games and related value-added services
14,537,881
14,360,890
14,166,848
1,940,850
55,626,584
57,480,020
7,874,729
Youdao
738,801
789,456
640,753
87,783
2,767,462
2,748,491
376,542
NetEase Cloud Music
601,011
655,242
600,539
82,273
2,102,670
2,681,512
367,366
Innovative businesses and others
947,442
671,017
864,201
118,395
2,566,678
2,897,061
396,896
Total gross profit
16,825,135
16,476,605
16,272,341
2,229,301
63,063,394
65,807,084
9,015,533
Gross profit margin:
Games and related value-added services
69.5 %
68.8 %
66.7 %
66.7 %
68.2 %
68.7 %
68.7 %
Youdao
49.9 %
50.2 %
47.8 %
47.8 %
51.4 %
48.9 %
48.9 %
NetEase Cloud Music
30.3 %
32.8 %
31.9 %
31.9 %
26.7 %
33.7 %
33.7 %
Innovative businesses and others
34.4 %
37.8 %
37.8 %
37.8 %
29.7 %
35.8 %
35.8 %
The accompanying notes are an integral part of this announcement.
NETEASE, INC.
NOTES TO UNAUDITED FINANCIAL INFORMATION
Note 1: The conversion of Renminbi (RMB) into United States dollars (USD) is based on the noon buying rate of USD1.00 = RMB7.2993 on the last trading day of December 2024 (December 31, 2024) as set forth in the H.10 statistical release of the U.S. Federal Reserve Board. No representation is made that the RMB amounts could have been, or could be, converted into US$ at that rate on December 31, 2024, or at any other certain date.
Note 2: Share-based compensation cost reported in the Company’s unaudited condensed consolidated statements of comprehensive income is set out as follows in RMB and USD (in thousands):
Three Months Ended
Year Ended
December 31,
September 30,
December 31,
December 31,
December 31,
December 31,
December 31,
2023
2024
2024
2024
2023
2024
2024
RMB
RMB
RMB
USD (Note 1)
RMB
RMB
USD (Note 1)
Share-based compensation cost included in:
Cost of revenues
216,717
306,283
304,687
41,742
823,765
1,185,854
162,461
Operating expenses
Selling and marketing expenses
35,575
36,365
7,435
1,019
132,801
104,534
14,321
General and administrative expenses
262,830
247,440
246,424
33,760
1,119,018
1,069,850
146,569
Research and development expenses
297,865
388,051
372,898
51,087
1,167,226
1,522,701
208,609
The accompanying notes are an integral part of this announcement.
Note 3: The financial information prepared and presented in this announcement might be different from those published and to be published by NetEase’s listed subsidiary to meet the disclosure requirements under different accounting standards requirements.
Note 4: The unaudited reconciliation of GAAP and non-GAAP results is set out as follows in RMB and USD (in thousands, except per share data or per ADS data):
Three Months Ended
Year Ended
December 31,
September 30,
December 31,
December 31,
December 31,
December 31,
December 31,
2023
2024
2024
2024
2023
2024
2024
RMB
RMB
RMB
USD (Note 1)
RMB
RMB
USD (Note 1)
Net income attributable to the Company’s shareholders
6,582,263
6,538,435
8,766,479
1,201,002
29,416,552
29,697,609
4,068,556
Add: Share-based compensation
797,194
960,706
915,489
125,421
3,191,753
3,813,032
522,383
Non-GAAP net income attributable to the Company’s shareholders
7,379,457
7,499,141
9,681,968
1,326,423
32,608,305
33,510,641
4,590,939
Non-GAAP net income per share *
Basic
2.30
2.34
3.05
0.42
10.14
10.47
1.43
Diluted
2.27
2.33
3.02
0.41
10.03
10.37
1.42
Non-GAAP net income per ADS *
Basic
11.49
11.72
15.25
2.09
50.69
52.35
7.17
Diluted
11.34
11.63
15.09
2.07
50.14
51.85
7.10
* Each ADS represents five ordinary shares.
The accompanying notes are an integral part of this announcement.
View original content:https://www.prnewswire.com/news-releases/netease-announces-fourth-quarter-and-fiscal-year-2024-unaudited-financial-results-302381212.html
SOURCE NetEase, Inc.
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Context Labs AI Distillery™ Lets Enterprises Run Sovereign AI on Data They Own
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Company launches the Context Engine for trusted sovereign AI, which packages an enterprise’s own data with verified lineage for use with the frontier or open-weight model the enterprise chooses.
ABU DHABI, United Arab Emirates, Nov. 1, 2026 /PRNewswire/ — Context Labs B.V. (“Context Labs”), the AI Data Infrastructure company, today launched the Context Labs AI Distillery™, the Context Engine for trusted sovereign AI. The AI Distillery converts an enterprise’s operational and business data into a governed Context Package that the enterprise owns, creating their own protected competitive moat. Every answer an AI model draws from the package is traced to its source records, and the package works with the frontier or open weight model the customer chooses, inside the customer’s own environment.
Analysts have quantified the obstacle to scaling enterprise AI. Gartner predicts that through 2026 organizations will abandon 60% of AI projects unsupported by AI-ready data, and that over 40% of agentic AI projects will be canceled by the end of 2027. McKinsey reports that eight in ten companies name data limitations as the barrier to scaling AI agents. Gartner has also described what enterprises now need: software that lets teams construct, govern and deliver semantically organized knowledge to AI agents, built on ontologies and knowledge graphs.
The Context Labs AI Distillery™ is designed around six outcomes:
Own your IP. An enterprise’s knowledge, know-how and operating context stay inside a Context Package that only it controls and are not used to train third-party AI models.
Own your AI. The intelligence employees create in everyday use accrues to the enterprise, not to a model provider, and grows with every interaction.
Trusted, provable answers. Every output carries its data lineage and decision provenance, so answers can be verified, audited, and defended.
Build, protect and scale a proprietary competitive asset. The Context Package captures how the enterprise describes and runs its operations, starting with one facility and extending to others without rebuilding.
Sovereign by design. The AI Distillery runs inside the customer’s own data center or chosen cloud, so data stays where the customer decides.
Freedom of model choice, at lower cost. Customers can use any frontier or open-weight model and switch models without rebuilding the Context Package. Precise, verified context reduces the tokens each query uses.
The AI Distillery works in three steps: distill, package, and prove. It maps an enterprise’s structured and unstructured data to industry-specific ontologies, stores the result in a Context Package with cryptographic provenance, and checks answers against the company’s own records before any model goes into production. Work that has typically required teams of specialist engineers becomes a guided, governed workflow.
Context Agents and the Semantic Context Tunnel. Context Agents answer operational, commercial and compliance questions from the enterprise’s Context Package, with every figure traced to its source. The Semantic Context Tunnel brings the same context into the AI assistant employees already use. Both work within the access controls the enterprise sets.
“Models come and go. An enterprise’s context should not,” said Dan Harple, Founder, Chairman and CEO of Context Labs. “Frontier models will keep improving, but they do not supply governance, provenance or trust, and they should not absorb the knowledge that makes a company competitive. The AI Distillery gives enterprises a moat they own: their own context, proven and protected, working with whichever model they choose. That is how our customers own their IP and own their AI.”
At ADIPEC 2026, Context Labs is demonstrating the AI Distillery on energy-sector use cases, in which a Context Agent answers operational questions with every figure traced to the underlying plant records. Context Labs is located Arab Development Group stand, Stand #5240, Hall 5 and in the Dell AI Factory with NVIDIA, AI Zone, Hall 13.
Availability. The Context Labs AI Distillery™ is available now through the Microsoft Marketplace. Each enterprise license includes an industry starter kit to accelerate time to value. Companies can request a briefing or technical working session at contextlabs.com/distillery.
About Context Labs B.V.
Context Labs is an AI Data Infrastructure company delivering the Context Engine for Trusted and Secure Sovereign AI. Its platform turns complex, fragmented operational, engineering and enterprise data into continuously verified, auditable information that AI systems, people and markets can trust. Built on an extensible library of industry-specific ontologies that map to established standards published by ISO and other standards bodies, the platform is deployable across sectors, with use-case applications delivering decision-ready intelligence on a common foundation. The Context Labs AI Distillery™ lets enterprises run sovereign AI inside their own data centers, so they own their IP and own their AI. Formed out of MIT research and led by a team that helped drive the at-scale growth of the Internet, Context Labs has offices in Amsterdam, Cambridge (Mass.), Houston and Abu Dhabi. Learn more at www.contextlabs.com.
Media contact
press@contextlabs.com | 1-617-902-0932 | contextlabs.com/resources
View original content to download multimedia:https://www.prnewswire.co.uk/news-releases/context-labs-ai-distillery-lets-enterprises-run-sovereign-ai-on-data-they-own-302925657.html
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From IFA Berlin to CES 2027: OlloBot Continues Its Journey in Emotional Companionship
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In the Top 10 Trends in China’s Robotics and Embodied Intelligence Market for 2026, IDC identifies the evolution of educational and companion robots into all-age home intelligent terminals as a key trend. The report highlights a growing emphasis on long-term companionship, contextual understanding and ongoing content services, with value extending beyond specific functions to lasting relationships and services.
OlloBot is building its identity around this shift. Rather than developing humanoid robots or devices primarily centered on task execution, the brand is exploring a different path through what it calls “Cyber Pet,” an emerging category of home companions designed around emotional relationships. Its approach starts with a simple question: how can a robot become a familiar and meaningful presence in someone’s life?
For OlloBot, the answer lies in restraint. A companion robot should not replace human relationships or compete for a user’s constant attention. It should learn when to engage and when to step back. The goal is not about delivering a moment of novelty or amusement. It is about creating a unique relationship that can expand with each interaction and gradually become personally meaningful.
“We believe home robots need to enter the household through emotional connection,” said Lyn Fang, founder of OlloBot. “Technology can create the conditions for interaction, but meaningful companionship comes from how those interactions make people feel over time.”
At IFA, the enthusiasm from visitors offered a tangible reflection of this approach. Under the theme “Touch. Feel. Bond.,” OlloBot created an open, home-inspired setting where visitors could interact with OlloNi SS1 directly. Powered by OlloBot’s proprietary EmpathCore emotional engine and Affinilog interaction system, OlloNi SS1 engages dynamically through touch, sound and facial expressions. OlloNi SS1 also appeared in IFA’s “Robots on the Runway” showcase, where its emotional engine enabled it to react to its surroundings in real time. Visitors were not simply examining a device or comparing functions. They were exploring how it responded to them. The experience reinforced the brand’s conviction that, in the home, emotional connection can matter as much as technical capability.
Next stop: Las Vegas
The recognition and feedback at IFA mark an encouraging step as OlloBot continues to advance its product development and commercialization. Looking ahead to CES 2027, OlloBot is set to take the next step in its journey by introducing two all-new robot family members: a desktop lamp-form robot and OlloBot Gen 2. Visitors will also get a first look at a rich lineup of IP merchandise and ecosystem peripherals built around the flagship OlloVerse universe. Please stay tuned—OlloBot looks forward to welcoming everyone in Las Vegas and sharing how its expanding ecosystem continues to redefine emotional companionship in the home.
About OlloBot
OlloBot is an AI companion robot brand developed by Ollobot Robotics Limited, a Hong Kong-based company and part of BizConf Technology Co., Ltd. (SZSE: 300578).
The company focuses on embodied intelligence and family-oriented AI companion robots designed to support more natural interaction, emotional presence and connection in modern homes. Through its Cyber Pet concept, OlloBot aims to explore how AI and robotics can become a more meaningful and approachable part of everyday family life.
For more information, please visit ollobot.com.
YouTube：https://www.youtube.com/@ollo_botFacebook：https://www.facebook.com/ollobotofficialInstagram：https://www.instagram.com/ollo_botThreads：https://www.threads.com/@ollo_botTikTok：https://www.tiktok.com/@ollo_botX：https://x.com/OLLOBOT_Real
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SOURCE OlloBot
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A new way to explore Japan with AI: Naviu AR Travel Companion for Japan Launches November 1 2026
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Patent pending geospatial technology brings 29 language guidance and city scale AR navigation to travelers
TOKYO, Oct. 31, 2026 /PRNewswire/ — Naviu, a business under TANGLE Inc., offering an AI-powered augmented-reality travel companion for Japan, launches on iOS and Android on November 1. Built on patent-pending geospatial technology, Naviu places AR content and navigation accurately in the real world across entire cities, without requiring a visual positioning system.
Travelers can ask Naviu about anything around them and receive answers in any of 29 languages, grounded in their exact location. A semi-transparent AR path provides turn-by-turn guidance, an AI companion walks with the traveler, and the app reveals side-street cafes, local landmarks, and other places that conventional maps and guidebooks may overlook.
About Naviu
Naviu combines an ask-anything AI guide, city-scale AR navigation, photo recognition, bespoke trip planning, and an optional cultural storytelling companion. Its spatial content network also allows brands, cities, and creators to place interactive 3D and AR content in the real world. AR experiences are already live at landmarks including Senso-ji, Tokyo Skytree, Tokyo Tower, Meiji Jingu, and Tokyo Station.
Naviu is available on the App Store and Google Play.
Official site: naviu.app
Key Features
Ask-anything AI guide: Conversational answers about any place in 29 languages, grounded in precise location dataCultural storytelling and guidance: An optional companion mode that guides travelers street by street and narrates local history and storiesAR navigation: A semi-transparent augmented-reality path overlaid on real streets across entire citiesPhoto recognition: Travelers can point the camera at a temple, sign, or storefront and ask what it isBespoke trip planning: Itineraries built around dietary needs, interests, accessibility, and available timeSpatial content network: Brands, cities, and creators can place interactive 3D and AR content in the real world
Statement from the Head of Naviu
“The hard part of traveling in Japan isn’t getting lost. It’s standing in front of something remarkable with no idea what it is. Naviu answers that question in your own language, right where you’re standing, so the city opens up instead of staying a backdrop.”
Jack Mead
CEO of Ashita Co. and Head of Naviu
About TANGLE Inc
TANGLE Inc. is the Tokyo-based company behind the tour operators TOMOGO! and Untold Japan. Its mission, Make the City Yours, reflects a decade of helping travelers discover Japan beyond the guidebook and now extends that experience into software through Naviu.
Company
TANGLE Inc.
Headquarters
Tokyo, Japan
Representative Director
Kengo Goto
Business
TOMOGO!, Untold Japan, and development and operation of Naviu
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SOURCE TANGLE Inc.
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