China’s NetEase stock rose to a record 2023 level in July, Bloomberg reports. Successful game releases in China helped.

NetEase was trading at HK$160 (US$20.4) per share at the close of business on July 4. That’s 85.64% more than in October 2022, when the stock was trading at the lowest price in the company’s history.

Like many gaming companies in China, NetEase shares began to rise last November amid loosening restrictions from the Chinese authorities. However, investors’ optimism about the company also increased after the release of new games.

Justice Mobile, the company’s first game with an embedded neural network, released on June 30, was one of the top three highest-grossing mobile games in China on July 2. It also topped the game download chart in China along with Eggy Party and Racing Master (Racing Master also topped the global top 10 most downloaded mobile games in June).

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