SCHEDULE: Orbis Investment Management's 23.3% Stake in Youdao

Orbis Investment Management Limited has updated its Schedule 13G filing, disclosing a 23.3% beneficial ownership stake in Youdao, Inc. as of September 30, 2025.

Summary

• Orbis Investment Management Limited reported beneficial ownership of 7,281,408 American Depositary Shares (ADS) of Youdao, Inc.
• This ownership represents 23.3% of Youdao, Inc.'s Class A Ordinary Shares.
• Orbis Investment Management Limited holds sole voting power over 7,281,408 shares.
• Orbis Investment Management Limited holds sole dispositive power over 7,281,408 shares.
• The filing is an Amendment No. 14 to Schedule 13G, indicating an update to a previously reported stake.
• The event date requiring this filing was September 30, 2025.

Sentiment

Score: 5

Explanation: Neutral. The filing is a routine disclosure of beneficial ownership by a passive investor and does not contain performance or strategic updates that would indicate a positive or negative sentiment.

Future Outlook

NA

Industry Context

This filing is a routine disclosure of a significant passive investment by an asset manager in an education technology company. It reflects Orbis Investment Management Limited's continued confidence or strategic positioning in Youdao, Inc. within the broader Chinese education technology sector.

Stakeholder Impact

• Shareholders: Provides transparency regarding a significant institutional investor's stake, potentially influencing market perception of stability or institutional confidence.

Key Dates

Keywords

Youdao Inc., Orbis Investment Management, Schedule 13G, Beneficial Ownership, ADS, Class A Ordinary Share, Investment Management, SEC Filing, Equity Stake