With the market at all-time highs, it can be tough for investors to find stocks with much upside potential. But if you look closely enough, you'll still find plenty of lesser-known stocks that offer compelling growth at reasonable valuations.

One company that fits that description is NetEase (NASDAQ: NTES), a Chinese gaming and internet-services company that rallied nearly 60% over the past 12 months. Today, we'll examine NetEase's business model, growth rates, headwinds, and valuations to see why it's a smart buy at current prices.

NetEase's Tome of the Sun. Source: Google Play.

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Source: Fool.com