UNITED STATES 

SECURITIES AND EXCHANGE COMMISSION 

Washington, D.C. 20549

 

SCHEDULE 13G 

(Rule 13d-102)

 

Under the Securities Exchange Act of 1934 

(Amendment No. 1)

 

Youdao, Inc.
(Name of Issuer)
 
Class A ordinary shares, $0.0001 par value per share
(Title of Class of Securities)
 
98741T104(1)
(CUSIP Number)
 
December 31, 2021
(Date of Event Which Requires Filing of This Statement)

 

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

 

¨ Rule 13d-1(b)
¨ Rule 13d-1(c)
x Rule 13d-1(d)

 

*The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

 

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act, but shall be subject to all other provisions of the Act (however, see the Notes).

 

 

 

(1)  This CUSIP number applies to the Issuer’s American depositary shares (“ADSs”), each representing one Class A ordinary share.

 

 

 

 

 

CUSIP No. 98741T10413G  

 

1  NAMES OF REPORTING PERSON
NetEase, Inc.
 
2 CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP

 (a)  ¨

(b)  ¨

3

SEC USE ONLY

 

4

CITIZENSHIP OR PLACE OF ORGANIZATION

Cayman Islands

 

NUMBER OF
SHARES
BENEFICIALLY
OWNED BY EACH REPORTING
PERSON WITH
5

SOLE VOTING POWER

66,220,528 Class A ordinary shares(2)

6

SHARED VOTING POWER

0

7

SOLE DISPOSITIVE POWER

66,220,528 Class A ordinary shares(2)

8

SHARED DISPOSITIVE POWER

0

9

AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON

66,220,528 Class A ordinary shares(2)

10

CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES

      ¨
11 PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
  66.0%(3)
12 TYPE OF REPORTING PERSON
  CO

 

 

 

(2)  Consisting of (i) 65,387,160 Class B ordinary shares that are convertible into 65,387,160 Class A ordinary shares and (ii) 833,368 ADSs representing 833,368 Class A ordinary shares held by NetEase, Inc., a Cayman Islands company listed on the Nasdaq Global Select Market and the Hong Kong Stock Exchange. Each Class B ordinary share is convertible into one Class A ordinary share at any time by the holder thereof. 

(3)  Based on the sum of (i) 34,979,425 Class A ordinary shares outstanding as of December 31, 2021 as informed by the Issuer and (ii) 65,387,160 Class B ordinary shares held of record by NetEase, Inc., all of which can be converted into an equal number of Class A ordinary shares at the discretion of NetEase, Inc.

 

2

 

 

CUSIP No. 98741T10413G  

 

Item 1(a).NAME OF ISSUER

 

Youdao, Inc.

 

Item 1(b).ADDRESS OF ISSUER’S PRINCIPAL EXECUTIVE OFFICES

 

No. 399 Wangshang Road 

Binjiang District, Hangzhou, 310051 

People’s Republic of China

 

Item 2(a).NAME OF PERSON FILING

 

NetEase, Inc.

 

Item 2(b).ADDRESS OF PRINCIPAL BUSINESS OFFICE OR, IF NONE, RESIDENCE

 

NetEase Building, No. 599 Wangshang Road 

Binjiang District, Hangzhou, 310052 

People’s Republic of China

 

Item 2(c).CITIZENSHIP

 

Cayman Islands

 

Item 2(d).TITLE OF CLASS OF SECURITIES

 

Class A ordinary shares, $0.0001 par value per share

 

Item 2(e).CUSIP No.

 

98741T104

 

This CUSIP number applies to the ADSs of the Issuer, each representing one Class A ordinary share of the Issuer. No CUSIP has been assigned to the ordinary shares.

 

Item 3.IF THIS STATEMENT IS FILED PURSUANT TO §§ 240.13D-1(B), OR 240.13D-2(B) OR (C), CHECK WHETHER THE PERSON FILING IS A:

 

Not applicable.

 

Item 4.OWNERSHIP

 

The information required by Items 4(a) - (c) is set forth in Rows 5-11 of the cover page hereto and is incorporated herein by reference.

 

The total number of outstanding Class A ordinary shares used to calculate the percent of class represented by the Class A ordinary shares is the sum of (i) 34,979,425 Class A ordinary shares outstanding as of December 31, 2021 as informed by the Issuer and (ii) 65,387,160 Class B ordinary shares held of record by NetEase, Inc., all of which can be converted into an equal number of Class A ordinary shares at the discretion of NetEase, Inc.

 

Item 5.OWNERSHIP OF FIVE PERCENT OR LESS OF A CLASS

 

Not applicable.

 

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CUSIP No. 98741T10413G  

 

Item 6.OWNERSHIP OF MORE THAN FIVE PERCENT ON BEHALF OF ANOTHER PERSON

 

Not applicable.

 

Item 7.IDENTIFICATION AND CLASSIFICATION OF THE SUBSIDIARY WHICH ACQUIRED THE SECURITY BEING REPORTED ON BY THE PARENT HOLDING COMPANY OR CONTROL PERSON

 

Not applicable.

 

Item 8.IDENTIFICATION AND CLASSIFICATION OF MEMBERS OF THE GROUP

 

Not applicable.

 

Item 9.NOTICE OF DISSOLUTION OF GROUP

 

Not applicable.

 

Item 10.CERTIFICATION

 

Not applicable.

 

4

 

  

SIGNATURE

 

After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.

 

Dated: February 11, 2022

 

  NetEase, Inc.
     
     
  By: /s/ Charles Zhaoxuan Yang
  Name: Charles Zhaoxuan Yang
  Title: Chief Financial Officer

 

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