Youdao, Inc. — Director's Dealing 2026

Mar 17, 2026

SEC Form 3 — Initial Statement of Beneficial Ownership

Issuer: Youdao, Inc. (DAO)
CIK: 0001781753
Period of Report: 2026-03-17

Reporting Person: DING WILLIAM LEI (Director)

Holdings (Non-Derivative)

Security	Shares	Ownership
Class A Ordinary Shares	2493723	Indirect
Class B Ordinary Shares	29751158	Indirect

Footnotes

F1: Consists of (i) 1,175,000 American Depositary Shares ("ADSs"), representing 1,175,000 Class A ordinary shares held of record by Dragon Creation Technology Limited, a company incorporated under the laws of the British Virgin Islands, and (ii) 1,318,723 ADSs, representing 1,318,723 Class A ordinary shares held of record by NetEase, Inc. (of which Mr. Ding is the chief executive officer, a director and the largest shareholder).

F2: Dragon Creation Technology Limited is wholly owned by Sino Intelligence Holding Limited, which is in turn wholly owned by Sino Intelligence Trust, or the Trust, for which TMF (Cayman) Ltd. acts as the trustee. Mr. Ding is the sole director of Dragon Creation Technology 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. In addition, Mr. Ding, through Shining Globe International Limited, beneficially owns approximately 45.5% equity interest in NetEase as of February 28, 2026. Shining Globe International Limited is wholly owned by Shining Globe Holding Limited, which is in turn wholly owned by Shining Globe Trust. Mr. Ding, being the sole director of Shining Globe International Limited and the settlor of the Shining Globe Trust, retains the investment and dispositive powers with respect to the assets of the Shining Globe Trust.

F3: Consists of 29,751,158 Class B ordinary shares held of record by NetEase, Inc. For details of the relationship between NetEase, Inc. and Mr. Ding, please see footnote (1) and (2) above.