NTES drawdown: 21.9% below the all-time high
NetEase Inc. American Depositary Shares (NTES) is 21.9% below its all-time high, set Sep 17, 2025 (as of market close, Aug 17, 2026). The chart shows every day as a percentage of the highest level reached up to that point: 100% means a fresh record, everything below is a drawdown. "All-time" means since our price data begins (2000).
- Below all-time high
- −21.9%
- 78.1% of ATH
- All-time high
- $159.3
- Sep 17, 2025
- Time below the high
- 11 mo
- since Sep 17, 2025
- Worst-ever drawdown
- −96.4%
- Jul 25, 2001
- Longest underwater
- 4.3 yrs
- between all-time highs
- Today's level first reached
- Feb 9, 2021
- 5.5 yrs ago
- Last time this deep
- Apr 22, 2025
- in a previous episode
% of all-time high since 2000#
The classic underwater chart (drawdown curve), drawn as % of the all-time high — 100% is a fresh record, everything below it is time spent underwater.
% of all-time high on the price basis — the all-time high considers the full history of NTES, including years before the visible window. Dividends are excluded on this basis (the convention headlines use).
The deepest drawdowns on record#
Every decline of 15% or more from an all-time high (price basis), deepest first.
| Peak | Trough | Depth | Peak → trough | Recovered by | Underwater |
|---|---|---|---|---|---|
| Jul 6, 2000 | Jul 25, 2001 | −96.4% | 13 mo | Jan 6, 2003 | 2.5 yrs |
| Feb 11, 2021 | Oct 28, 2022 | −58.2% | 1.7 yrs | Jun 11, 2025 | 4.3 yrs |
| Oct 10, 2003 | Aug 13, 2004 | −57.3% | 10 mo | Aug 3, 2005 | 1.8 yrs |
| Dec 21, 2017 | Sep 10, 2018 | −49.3% | 9 mo | May 14, 2020 | 2.4 yrs |
| Mar 30, 2006 | Aug 16, 2007 | −43.7% | 17 mo | May 16, 2008 | 2.1 yrs |
| Jan 21, 2003 | Mar 10, 2003 | −42.2% | 48 days | Apr 7, 2003 | 2 mo |
| Aug 25, 2008 | Nov 19, 2008 | −41.8% | 3 mo | Apr 3, 2009 | 7 mo |
| Jun 19, 2012 | Dec 10, 2012 | −41.8% | 6 mo | May 30, 2013 | 11 mo |
Price basis (no dividends) — the convention crash histories use. With dividends reinvested, recoveries arrive years earlier; switch the basis on the chart above to see it.
Drawdown vs what came next#
One dot per month since 2000: how far NTES stood below its all-time high, and the total return over the following 1, 5 and 10 years.
Read this with survivorship bias in mind: NTES is on this chart precisely because it survived — the many stocks that fell this far and never recovered (or were delisted) aren't on anyone's chart, so past recoveries here say little about the odds ahead. Monthly windows also overlap heavily (they are not independent samples). Not investment advice.
FAQ#
- How far is NTES from its all-time high?
- NTES is currently 21.9% below its all-time high, set Sep 17, 2025 (as of market close, Aug 17, 2026). Prices only, the convention headlines use; with dividends reinvested the gap is usually smaller.
- What was the biggest NTES drawdown ever?
- The deepest decline on record in our data (since 2000) took the stock 96.4% below its prior high, bottoming Jul 25, 2001. The table on this page lists every major episode with its peak, trough and recovery date.
Methodology & related#
Daily closing prices since 2000 (split-adjusted). "All-time" means since our price data begins — NTES may have traded earlier. For a 150-year index drawdown record see the S&P 500 drawdown page. The price basis excludes dividends; the total-return basis reinvests them; the real basis additionally deflates by CPI. See also returns by year, 150 years of returns and the rolling-returns explorer. Past performance does not predict future returns; not investment advice.