网易-S2025年度报告

9999 2 3 4 11 14 16 17 20 84 1831717121716 18A8802 PO Box 309, Ugland HouseGrand Cayman, KY1-1104Cayman Islands Paul W. Boltz Jr.18A8802 9999NTES Maples Fund Services (Cayman) LimitedPO Box 1093, Boundary HallCricket SquareGrand Cayman, KY1-1102Cayman Islands 22 http://ir.netease.com/ NetEase, Inc. 1182 •20251231•••• 20251231 •• 2(c)25 20251231921 (i)(ii) 2(j)9 2025123181 •••••• 2026415 1. (a) NetEase.com, Inc.1999762012329NetEase, Inc.2000720206 20251231VIEVIEVIE 20191026Youdao,Inc20212 2021122 1. (a) 20251231VIE VIEVIE 19976 20094 1. (a) VIE 1. 1. (a) VIEVIEVIEVIEVIE202420251231642.1641.2202420251231104.5130.3VIEVIE VIEVIE 202420251231 1. (b) VIEVIE VIE VIEVIE •• 1. (b) VIEVIE VIEVIEVIEVIEVIEVIE •VIEVIE201051220 •VIEVIE201051220 • •VIEVIEVIE201512120 1. (b) VIEVIE •VIEVIEVIE •VIEVIEVIEVIE VIEVIEVIEVIE VIEVIEVIE 1. (b) VIE VIEVIEVIEVIEVIEVIE • • • • • 1. (b) VIE • • VIEVIEVIEVIE 2. (a) VIEVIEVIEVIEVIE (b) 2. (c) 25 (i) 10 2. (c) (i) 112 (ii) 2. (c) (iii) (iv) (v) (i)(ii) 2. (c) (vi) (vii) 202420251231 2. (c) (viii) ASC 606 (i)(ii)(iii) 2. (c) 202420251231 14 (d) (e) 2023202420251231 2. (f) 2024202512312819203134 2024202512319399672696 202420251231VIE41139731.7%27.8% 2024202512313143 2. (g) ASC 326 ASC 326 2023202420251231 2. (h) 1–2–3– 26 (i) 2. (j) 12 ASC8252526 2023202420251231 2. (j) (i)(ii)(iii)abcdefg (k) ASU2016-02842ASU2018-01 ASU 2018-10 ASU 2018-11 ASU2018-20ASU 2019-01ASU 2016-02ASC 842 202420251231 2. (k) ASC842 (l) 20-3053-2053-53-5 (m) 201911ASC8422023202420251231 2. (n) (o) VIE 2. (p) 202320242025123110410911416 (q) VIEASC830 20241.006.993120251231H.10 2. (r) 2009201919(a) 2023222201920192019 19 2. (s) 200731610%25%5% 2023202420251231 202420251231 50% 2. (t) (u) VIEVIE(i)(ii)10%50% 2. (v) ASC805(i)(ii) (w) VIE 2. (x) (y) (z) 25 (aa) (bb) 202312FASBASU No. 2023-09740ASU No. 2023-09202412152025123111 (cc) 20259FASBASUNo.2025-06350-40ASUNo.2025-0620271215 202512FASBASU No.2025-10832ASU No. 2025-1020281215 3. (a) 100202320242025 (b) 202420251231 20242025123114.0%13.1% 20242025123111.2%13.2% 202512311.13%5.61% 3. (c) 202320242025123110% (d) 202320242025123136.8%35.7%35.2% 4. 20242025123120251231 2024202512311212.17.310202420251231 5. 202420251231202512311.13%5.61%20241.41%6.70% 2023202420251231414.2530.61,108.4 6. 2023202420251231769.7781.2805.2 202420251231 7. 2024 2023202420251231101.9112.8125.6 8. ASC 84220242025123142407 165 8. 202320242025123142.344.615.7 202420251231 9. (a) 202320251231473.9604.720241231155.62023202420251231272.151.82,461.2202420251231 9. (b) 2025123128182023202420251231535.31212 202320242025123151.066.557.7 (c) 2023202420251231 202320242025123122.322.2149.8 2023202420251231274.21024 10. 2024202512312024123120251231 202512313.50%4.75%2024202512311212.17.34 11. (a) 16.5%20232024202528.25%)16.5% 25%200811 20232024202515% 20233262023200% 11. (a) 2023202420251231 11. (a) 2025123190%5% 20232024123125% 11. (a) 2025123125% 20251231234VIE20262035 11. (b) VIE6%16%20194113% (c) 202420251231 11. (c) (d) 10%25%5%200822220071231 202320242025151618225.4202420251231202220232024 12. 202420251231 13. 2024202512310.25%5.24%2024202512313.37%2.16% 2025123153 242025123119 14. 20251231202420251231132151 2025123121412205 15. 202420251231 16. 20216210LIBOR850.20%2024 17. 18. VIEVIE2023202420251231 19. 2023202420251231323936 (a) 2009RSU 20091120092009RSU323,694,0502009RSU200911172009RSU20191116 2019 2019102019322,458,300 2023222201920192019 202512312019348.124202512311.39 19. (a) 2023202420251231 202512311420251231137.62 202512312019190,809,415 19. (b) 100% 2023202420251231289.0266.4232.2 2025123114.8 20. 2023202420251231 20232024202512316.315.37.0 21. (a) 20251231 (b) 202420251231 22. 2024202512312024202511813419 23. 20212202132242020218302023193033.6 202211175020231103620251120362029192025123122.120 24. 2023202420251231202420251231 25. (a) 25. (b) 20232024202512312023202420251231 25. (b) 2023202420251231 2023202420251231 2023202412312025123189.9% 26. 20241231 26. 20242025123191024 27. VIE10%VIE202512311338.0%VIEVIE 28. 28. 28. 28. 28. a. b. 202641520-F20-F 20-F表格 （請標明其中一項） ☐根據1934年證券交易法第12(b)或12(g)條編製的註冊登記聲明或☒根據1934年證券交易法第13或15(d)條編製的年報截至2025年12月31日止財政年度或☐根據1934年證券交易法第13或15(d)條編製的過渡報告或☐根據1934年證券交易法第13或15(d)條編製的空壳公司報告 需要此空壳公司報告的事件日期 *並非進行交易，僅就美國存託股在納斯達克全球精選市場上市而言。 根據法案第12(g)條已登記或待登記的證券： （類別名稱） 根據法案第15(d)條涉及申報義務的證券： （類別名稱） 請列示年報所涵蓋期間結束時發行人每類資本或普通股的發行在外股份數目： 3,192,111,251股每股面值0.0001美元的普通股。 請標明註冊人是否為著名經驗豐富的合格發行人（定義見證券法第405條）。 ⌧是◻否 如果本報告是年報或過渡報告，請標明註冊人是否毋須根據1934年證券交易法第13或15(d)條呈遞報告備案。 請標明註冊人：(1)於過去12個月（或規定註冊人呈遞有關報告的較短期限）內有否根據1934年證券交易法第13或15(d)條的規定呈遞所需的一切報告；及(2)過去90天內有否受上述呈遞報告的規定所限制。 ⌧是◻否 請標明註冊人於過去12個月（或註冊人須呈遞有關檔案的較短限期）內有否根據規例S-T第405條（本章第232.405條）以