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NetEase (NASDAQ: NTES) CEO details large indirect ADS and share stake

Filing Impact
(Neutral)
Filing Sentiment
(Neutral)
Form Type
3

Rhea-AI Filing Summary

NetEase, Inc. director and Chief Executive Officer William Lei Ding has filed an initial statement of beneficial ownership. The filing reports indirect holdings of 8,860,000 American Depositary Shares and 1,406,000,000 ordinary shares, all held through Shining Globe International Limited and related trust entities. Each ADS represents five ordinary shares.

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Insider DING WILLIAM LEI
Role Chief Executive Officer
Type Security Shares Price Value
holding American Depositary Shares -- -- --
holding Ordinary Shares -- -- --
Holdings After Transaction: American Depositary Shares — 8,860,000 shares (Indirect, See Footnote); Ordinary Shares — 1,406,000,000 shares (Indirect, See Footnote)
Footnotes (1)
  1. Each American depositary share ("ADS") represents five ordinary shares of NetEase, Inc. Shining Globe International Limited is the record owner of 1,406,000,000 ordinary shares and 8,860,000 ADSs. Shining Globe International Limited is wholly owned by Shining Globe Holding Limited, which is in turn wholly owned by Shining Globe Trust, or the Trust, for which TMF (Cayman) Ltd. acts as the trustee. William Lei Ding is the sole director of Shining Globe International Limited and the settlor of the Trust, retaining the investment and dispositive powers with respect to the assets of the Trust. The beneficiaries of the Trust are William Lei Ding and his family.
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SEC Form 3
FORM 3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

INITIAL STATEMENT OF BENEFICIAL OWNERSHIP OF SECURITIES

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940
OMB APPROVAL
OMB Number: 3235-0104
Estimated average burden
hours per response: 0.5
1. Name and Address of Reporting Person*
DING WILLIAM LEI
(Last) (First) (Middle)
C/O NETEASE, INC. NETEASE BUILDING
NO. 599 WANGSHANG ROAD,BINJIANG DISTRICT
(Street)
HANGZHOU F4 310052
(City) (State) (Zip)
2. Date of Event Requiring Statement (Month/Day/Year)
03/17/2026 		3. Issuer Name and Ticker or Trading Symbol
NetEase, Inc. [ NTES ]
4. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
X Director 10% Owner
X Officer (give title below) Other (specify below)
Chief Executive Officer
5. If Amendment, Date of Original Filed (Month/Day/Year)
6. Individual or Joint/Group Filing (Check Applicable Line)
X Form filed by One Reporting Person
Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Beneficially Owned
1. Title of Security (Instr. 4) 2. Amount of Securities Beneficially Owned (Instr. 4) 3. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 4. Nature of Indirect Beneficial Ownership (Instr. 5)
American Depositary Shares(1) 8,860,000 I See Footnote(2)
Ordinary Shares 1,406,000,000 I See Footnote(2)
Table II - Derivative Securities Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 4) 2. Date Exercisable and Expiration Date (Month/Day/Year) 3. Title and Amount of Securities Underlying Derivative Security (Instr. 4) 4. Conversion or Exercise Price of Derivative Security 5. Ownership Form: Direct (D) or Indirect (I) (Instr. 5) 6. Nature of Indirect Beneficial Ownership (Instr. 5)
Date Exercisable Expiration Date Title Amount or Number of Shares
Explanation of Responses:
1. Each American depositary share ("ADS") represents five ordinary shares of NetEase, Inc.
2. Shining Globe International Limited is the record owner of 1,406,000,000 ordinary shares and 8,860,000 ADSs. Shining Globe International Limited is wholly owned by Shining Globe Holding Limited, which is in turn wholly owned by Shining Globe Trust, or the Trust, for which TMF (Cayman) Ltd. acts as the trustee. William Lei Ding is the sole director of Shining Globe International Limited and the settlor of the Trust, retaining the investment and dispositive powers with respect to the assets of the Trust. The beneficiaries of the Trust are William Lei Ding and his family.
Remarks:
Exhibit 24 - Power of Attorney
/s/ Doris Fang, Attorney-in-Fact for William Lei Ding 03/17/2026
** Signature of Reporting Person Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 5 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.

Source: View Original Filing on SEC EDGAR

FAQ

What does William Lei Ding’s Form 3 filing for NTES disclose?

The Form 3 filing discloses William Lei Ding’s initial beneficial ownership in NetEase. It reports large indirect holdings of American Depositary Shares and ordinary shares held through Shining Globe International Limited and a related trust structure.

How many NetEase American Depositary Shares does William Lei Ding indirectly hold?

The filing reports indirect ownership of 8,860,000 American Depositary Shares. These ADSs are recorded in the name of Shining Globe International Limited, an entity ultimately owned by a trust for the benefit of William Lei Ding and his family.

How many NetEase ordinary shares are reported in William Lei Ding’s Form 3?

The Form 3 states that 1,406,000,000 ordinary shares of NetEase are registered in the name of Shining Globe International Limited. These ordinary shares are indirectly beneficially owned through a holding company and trust structure linked to William Lei Ding.

What is the relationship between NetEase ADSs and ordinary shares in this filing?

The filing explains that each American Depositary Share represents five ordinary shares of NetEase, Inc. This ratio means the reported ADS holdings correspond economically to a multiple of the underlying ordinary shares represented by each depositary share.

Through which entities does William Lei Ding hold his NetEase shares?

The shares are held by Shining Globe International Limited, wholly owned by Shining Globe Holding Limited, which is in turn wholly owned by Shining Globe Trust. TMF (Cayman) Ltd. acts as trustee, and William Lei Ding is the settlor and sole director of the record owner.

Does the Form 3 indicate how much control William Lei Ding has over these NetEase holdings?

Yes. The filing notes that William Lei Ding retains investment and dispositive powers over the trust’s assets. As settlor and sole director of the record owner, he has authority over decisions involving the NetEase shares held in this structure.