Does $NTES have a moat in China's gaming market?

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Traditional-Jump6145 is in China

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NetEase (NTES) is dominating the gaming landscape in China. 76% of its revenues coming from mobile games. The company recently 70% gross margin and consistent revenue growth, while their price to free cash flow just continues to decline.

https://preview.redd.it/d83kf358hgtd1.png?width=2292&format=png&auto=webp&s=5221abbe0169fcc61987cebe49399dd8712798ba

Their IP has a lot of longevity. "Identity V" recent hit record daily active users years after launch. Plus, they have successfully brought “World of Warcraft” to China.

If we assume Chinese stocks will eventually come back in fashion, is this an undervalued opportunity?

Would you touch this? Why or why not?

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Traditional-Jump6145

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Posted: 1 month ago
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