Forgame Holdings Ltd. (HK:0484)
:0484
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Forgame Holdings Ltd.
(0484)
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Rating:44Neutral
Price Target:
HK$0.92
▲(7.21% Upside)
Action:ReiteratedDate:10/18/25
The overall stock score is primarily impacted by the company's weak financial performance, characterized by declining revenues and consistent losses. Technical analysis indicates bearish momentum, further weighing on the score. Valuation metrics are unfavorable, with a negative P/E ratio and no dividend yield, highlighting the stock's unattractiveness. The absence of earnings call insights and notable corporate events leaves the financial and technical factors as the primary influences on the score.
Positive Factors
Strong cash position and low debt
A strong cash position and relatively low debt provide durable financial flexibility, lowering refinancing and liquidity risk. This buffer supports sustained game development, marketing cadence, and potential strategic investments or M&A even while operating results recover.
Negative Factors
Declining revenues and persistent losses
Sustained top-line decline and repeated losses erode scale advantages and user acquisition economics. Over months these trends constrain reinvestment in content and marketing, increase cash burn risk, and raise the probability of structural market share loss unless remedial actions restore growth.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong cash position and low debt
A strong cash position and relatively low debt provide durable financial flexibility, lowering refinancing and liquidity risk. This buffer supports sustained game development, marketing cadence, and potential strategic investments or M&A even while operating results recover.
Read all positive factors
Forgame Holdings Ltd. (0484) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$136.36M
Dividend YieldN/A
Average Volume (3M)90.32K
Price to Earnings (P/E)―
Beta (1Y)0.82
Revenue Growth65.41%
EPS Growth-313.74%
CountryHK
Employees46
SectorTechnology
Sector Strength88
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)N/A
Shares Outstanding171,725,080
10 Day Avg. Volume71,420
30 Day Avg. Volume90,323
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)0.23
Price to Sales (P/S)1.32
P/FCF Ratio-4.31
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Forgame Holdings Ltd. Business Overview & Revenue Model
Company Description
Forgame Holdings Limited, an investment holding company, develops, operates, and publishes web and mobile games in the People's Republic of China and internationally. It operates in two segments, Game Business and Electronic Device and Semiconduct...
How the Company Makes Money
Forgame Holdings Ltd. generates revenue primarily through in-app purchases and advertisements within its mobile games. Players can buy virtual goods, upgrades, and other game-enhancing features, providing a steady stream of income. Additionally, t...
Forgame Holdings Ltd. Financial Statement Overview
Summary
Income Statement
35
Negative
Balance Sheet
50
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 123.19M | 82.58M | 60.17M | 114.12M | 142.14M | 53.56M |
| Gross Profit | 9.59M | 7.60M | 24.09M | 5.77M | 13.60M | 12.96M |
| EBITDA | -9.59M | -31.91M | 12.91M | 1.80M | -17.48M | -28.11M |
| Net Income | -76.50M | -59.31M | -17.62M | -20.11M | 17.55M | -51.28M |
Balance Sheet | ||||||
| Total Assets | 506.03M | 529.36M | 655.76M | 724.02M | 713.39M | 678.17M |
| Cash, Cash Equivalents and Short-Term Investments | 326.00M | 310.58M | 334.40M | 326.91M | 372.27M | 500.24M |
| Total Debt | 2.71M | 2.91M | 3.69M | 7.59M | 8.90M | 3.55M |
| Total Liabilities | 34.96M | 44.95M | 65.49M | 80.81M | 76.74M | 66.20M |
| Stockholders Equity | 470.26M | 483.62M | 590.27M | 643.21M | 636.66M | 613.05M |
Cash Flow | ||||||
| Free Cash Flow | -35.11M | -25.27M | -20.87M | -29.52M | -166.80M | 68.52M |
| Operating Cash Flow | -35.09M | -24.71M | -20.25M | -29.40M | -129.89M | 71.39M |
| Investing Cash Flow | 7.90M | 1.68M | -4.13M | -130.35M | 115.96M | 6.80M |
| Financing Cash Flow | 11.42M | -2.80M | -6.05M | -1.71M | 2.90M | -7.57M |
Forgame Holdings Ltd. Technical Analysis
Negative
0.86
Price Trends
0.87
Negative
0.85
Negative
0.84
Negative
Market Momentum
>-0.01
Positive
39.36
Neutral
2.64
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0484, the sentiment is Negative. The current price of 0.86 is below the 20-day moving average (MA) of 0.88, below the 50-day MA of 0.87, and above the 200-day MA of 0.84, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 39.36 is Neutral, neither overbought nor oversold. The STOCH value of 2.64 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0484.
Forgame Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
53 Neutral | HK$226.84M | -5.87 | -30.86% | ― | -3.02% | 72.76% | |
51 Neutral | HK$96.07M | 6.06 | -2.01% | ― | 20.90% | 70.71% | |
44 Neutral | HK$136.36M | -1.20 | -16.04% | ― | 65.41% | -313.74% | |
44 Neutral | HK$33.63M | 7.88 | -2.39% | ― | 8.14% | 99.25% | |
42 Neutral | HK$94.68M | -7.80 | -8.08% | ― | -5.90% | 60.75% | |
41 Neutral | HK$242.30M | -1.22 | ― | ― | ― | ― |
* Technology Sector Average
HK:0484
Forgame Holdings Ltd.
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Forgame Holdings Ltd. Corporate Events
Forgame Steps Up Active Portfolio Management with Major Trades in Global Equities and Funds
Jan 27, 2026
Forgame Holdings Limited has disclosed a series of sizeable trades in listed securities, money market funds and structured products over 2024–2025, including acquisitions and disposals of Jinbei shares, Bosera USD Money Market Fund shares, C...
Forgame Sets Out Board and Committee Roles in Governance Update
Jan 27, 2026
Forgame Holdings Limited has announced the composition of its board of directors and outlined the specific roles and functions of each member across its principal governance committees. Chairman and chief executive officer Cui Yuzhi serves as chai...
Forgame Holdings Updates CEO Emoluments in Annual Reports
Dec 4, 2025
Forgame Holdings Limited has issued a supplemental announcement to provide additional details regarding the emoluments of its former CEO, Mr. Deng Ge, for the years 2021 to 2023. This update clarifies the financial compensation received by Mr. Den...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.