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NetEase Extends Online Payment Capabilities to Provide Payment and Settlement Services for Wealth Management Products
BEIJING, June 27, 2014 /PRNewswire/ -- NetEase, Inc. (NASDAQ: NTES), one of China's leading Internet and online game services providers, today announced that its online payment platform, Wangyibao, has secured a license from the China Securities Regulatory Commission (the "CSRC") to provide payment and settlement services for wealth management products.
"To meet license application requirements from the CSRC, we have built a highly secure and efficient information system with effective risk management policies for payment and settlement services. Wangyibao can now enable settlement institutions to authenticate and settle with multiple banks while lowering their operating costs," said Mr. William Ding, Chief Executive Officer and Director of NetEase. "We look forward to becoming a valuable e-payment choice for both wealth managers and investors."
About NetEase, Inc.
NetEase, Inc. (NASDAQ: NTES) is a leading Internet technology company in China.Dedicated to providing online services centered around content, community, communication and commerce, NetEase develops and operates some of China's most popular online games, e-mail services, advertising services, mobile applications and games, and web portals.In partnership with Blizzard Entertainment, NetEase also operates one of the most popular international online games in China, World of Warcraft, as well as StarCraft II and Hearthstone: Heroes of Warcraft. For more information, please visit: http://ir.netease.com/
Forward Looking Statements
This press release 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 statements. 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 game market will not continue to grow or that NetEase will not be able to maintain its leading position in that market, which could occur if, for example, its new online games or expansion packs and other improvements to its existing games do not become as popular as management anticipates; the ability of NetEase to successfully expand its mobile Internet offerings; the ability of NetEase to effectively market its games and other services and achieve a positive return on its marketing expenditures; the risk that Shanghai EaseNet will not be able to continue operating World of Warcraft, StarCraft II, Hearthstone: Heroes of Warcraft or other games licensed by it for a period of time or permanently due to possible governmental actions or the risk that such games will not be popular with game players in China; the risk that changes in Chinese government regulation of the online game market may limit future growth of NetEase's revenues or cause revenues to decline; competition in the online advertising business and the risk that investments by NetEase in its content and services may not increase the appeal of theNetEasewebsites among Internet users or result in increased advertising revenues; the risk that NetEase may not be able to continuously develop new and creative online services, including its ability to maintain and enhance the popularity of its e-mail, mobile and micro-blogging services and develop attractive mobile games; the risk that NetEase will not be able to control its expenses in future periods; competition in NetEase's existing and potential markets; governmental uncertainties (including possible changes in the effective tax rates applicable toNetEaseand its subsidiaries and affiliates and the ability of NetEase to receive and maintain approvals of the preferential tax treatments and general competition and price pressures in the marketplace); the risk that fluctuations in the value of the Renminbi with respect to other currencies could adversely affect NetEase's business and financial results; and other risks outlined in NetEase's filings with theSecurities and Exchange Commission. NetEase does not undertake any obligation to update this forward-looking information, except as required under the applicable law.
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SOURCE NetEase, Inc.
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