NetEase (NTES, Financial) shares saw a pre-market drop of 3.89% to $78 in the U.S. market, while its Hong Kong-listed shares fell over 5.6% to 119.4 HKD. This decline follows internal reports from NetEase revealing allegations against nine employees accused of corruption and fraud during their tenure. These individuals are facing criminal investigations and legal actions by authorities.
NetEase's public relations department emphasized their ongoing commitment to anti-corruption, stating that specific details cannot be disclosed as the investigation is ongoing. Additionally, NetEase rebuffed online rumors concerning money laundering, having reported them to the police, and urged the public to refrain from spreading false information.
