NetEase (NTES, Financial) shares fell nearly 6% to $76.36, marking the lowest price since September 10. The decline follows rumors of an internal corruption probe within NetEase Games. Allegedly, chat records of several high-ranking marketing executives have surfaced online, suggesting that the General Manager of the NetEase Games Marketing Department and others have been taken in for investigation. The contracts involved are rumored to be worth around 2 billion yuan.
In response to the investigation rumors, NetEase's public relations department reiterated that their anti-corruption efforts are ongoing. However, as the case is still under investigation, they have not disclosed specific details but promised to release information at an appropriate time. NetEase also stated that the rumors regarding money laundering are unfounded and have reported the issue to the authorities, urging people not to spread false information.
According to the latest information, an internal email within NetEase confirmed that nine individuals have been subjected to criminal enforcement measures.
