Mobi Development Co., Ltd. (0947) AI Stock Analysis

• Market Cap: HK$125.98M
• Dividend Yield: N/A
• Average Volume (3M): 878.96K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.87
• Revenue Growth: -12.03%
• EPS Growth: -40.38%
• Country: HK
• Employees: 1,333
• Sector: Technology
• Sector Strength: 88
• Industry: Communication Equipment
• EPS (TTM): -0.04
• Shares Outstanding: 797,338,100
• 10 Day Avg. Volume: 484,370
• 30 Day Avg. Volume: 878,960
• PEG Ratio: >-0.01
• Price to Book (P/B): 0.29
• Price to Sales (P/S): 0.21
• P/FCF Ratio: -1.26
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): N/A
• Revenue Forecast (FY): N/A

• Rating: 44 Neutral
• Price Target: HK$0.15 ▲(17.69% Upside)

The score is primarily constrained by weak financial performance (declining sales, ongoing losses, weakening equity position, and uneven/negative cash generation). Technicals provide only partial support with price above key moving averages but a slightly negative MACD, while valuation is hindered by a negative P/E and no dividend yield data.

Positive Factors

Diversified revenue streams (apps, services, maintenance)

Multiple revenue lines—direct app sales, custom development fees and maintenance/support—create recurring and project-based cash inflows. This mix supports steadier revenue recognition, customer stickiness and lifetime value, reducing single-source dependency over months.

Cross-platform mobile expertise (iOS & Android)

Experience building for both iOS and Android broadens addressable market and enables reuse of components across clients. Cross-platform capabilities lower per-project marginal costs, improve competitiveness for enterprise clients, and sustain deal flow over a multi-month horizon.

Substantial engineering capacity (1,333 employees)

A large workforce provides delivery scale and specialist teams for simultaneous projects and ongoing support contracts. This operational capacity reduces execution risk, supports larger enterprise engagements, and underpins recurring maintenance revenue over medium-term planning cycles.

Negative Factors

Declining revenue growth

Material negative revenue growth signals shrinking market share or weakening demand for core services. Reduced top-line scale undermines economies of scale and limits reinvestment capacity for product development and sales, hampering sustainable recovery over coming quarters.

Persistent operating losses and margin deterioration

Ongoing negative EBIT and falling margins erode retained earnings and force dependence on external funding. Margin weakness constrains ability to hire, invest in R&D or market expansion, creating a structural headwind to restoring profitability in the medium term.

Weak balance sheet and rising leverage

Declining equity paired with steady liabilities increases leverage, reducing financial flexibility. Higher leverage raises refinancing and covenant risks, limits strategic options like M&A or capex, and can strain liquidity if cash generation remains inconsistent.

Mobi Development Co., Ltd. Business Overview & Revenue Model

Company Description

MOBI Development Co., Ltd., an investment holding company, researches, designs, develops, manufactures, markets, and sells wireless communication antennas, base station radio frequency subsystems and solutions, and products of coverage extension solutions. Its solutions are used in the components of mobile communication coverage systems, including wireless access systems, as well as antenna, satellite communication, and microwave transmission networks. The company serves network and telecommunication operators, telecommunication equipment manufacturers, wireless network solution providers, and system equipment manufacturers. It has operations in the People's Republic of China, other countries in Asia, Europe, the Americas, and internationally. The company was founded in 1999 and is headquartered in Shenzhen, the People's Republic of China.

How the Company Makes Money

Mobi Development generates revenue through multiple streams, primarily from direct sales of mobile applications developed for clients and businesses. The company also earns money by offering custom software development services, where it charges clients for tailor-made applications that meet specific business needs. Additionally, Mobi Development may have partnerships with technology firms and digital marketplaces, allowing them to sell or distribute their applications more widely, contributing to their overall earnings. Maintenance and support services for existing applications also provide an ongoing revenue stream, as clients often require updates and technical assistance post-launch.

Mobi Development Co., Ltd. Financial Statement Overview

Summary

Mobi Development Co., Ltd. is facing significant financial challenges across all major financial statements. The income statement reveals declining revenues and persistent losses, the balance sheet shows increased leverage and reduced equity, and the cash flow statement highlights inconsistent cash generation. These factors collectively suggest financial instability and a need for strategic changes to improve financial health.

Income Statement

The company has experienced a significant decline in revenue and profitability over recent years. The gross profit margin and net profit margin have deteriorated, with continuous negative EBIT and net income figures indicating persistent operational challenges. Revenue growth is negative, reflecting declining sales. Overall, the income statement suggests weak performance and financial instability.

Balance Sheet

The balance sheet shows a decreasing equity base and consistent liabilities, indicating rising leverage. The debt-to-equity ratio has increased, and stockholders' equity has significantly declined over the years, affecting the company's financial stability. The equity ratio has also decreased, reflecting reduced asset backing for liabilities. Overall, the balance sheet portrays a weakening financial position.

Cash Flow

Cash flow from operations has been inconsistent, with operating cash flow turning negative in some years. Free cash flow has fluctuated, showing negative values in recent periods. The lack of consistent positive cash flow generation highlights cash management issues. Overall, the cash flow statement indicates challenges in maintaining liquidity and funding operations internally.

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	480.16M	515.15M	640.85M	687.00M	661.39M	884.54M
Gross Profit	50.19M	66.93M	96.31M	106.84M	16.81M	199.95M
EBITDA	-90.92M	-90.59M	-20.98M	-93.79M	-230.51M	21.45M
Net Income	-121.77M	-120.53M	-59.20M	-229.76M	-329.70M	-29.81M
Balance Sheet
Total Assets	970.00M	1.05B	1.25B	1.31B	1.56B	1.95B
Cash, Cash Equivalents and Short-Term Investments	161.52M	192.66M	198.67M	174.28M	250.55M	371.93M
Total Debt	131.60M	113.20M	99.76M	44.41M	144.34M	173.35M
Total Liabilities	619.82M	663.51M	743.18M	745.24M	763.25M	822.33M
Stockholders Equity	350.18M	383.37M	504.55M	564.99M	795.64M	1.13B
Cash Flow
Free Cash Flow	-39.09M	-87.05M	-10.56M	27.63M	-130.60M	-8.31M
Operating Cash Flow	-15.84M	-55.16M	17.05M	60.96M	-70.50M	84.51M
Investing Cash Flow	-85.70M	35.72M	-45.49M	-34.50M	-4.89M	-31.28M
Financing Cash Flow	20.50M	9.05M	47.91M	-110.17M	-41.68M	35.52M

Mobi Development Co., Ltd. Technical Analysis

• Technical Analysis Sentiment: Neutral
• Last Price: 0.13
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Neutral

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0947, the sentiment is Neutral. The current price of 0.13 is below the 20-day moving average (MA) of 0.14, below the 50-day MA of 0.15, and below the 200-day MA of 0.14, indicating a neutral trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 47.98 is Neutral, neither overbought nor oversold. The STOCH value of 75.93 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:0947.

Mobi Development Co., Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
1617	65 Neutral	HK$187.02M	2.86	7.40%	―	-9.34%	605.26%
1720	63 Neutral	HK$128.70M	5.63	3.56%	―	8.78%	160.00%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
1085	58 Neutral	HK$721.68M	-12.21	-3.08%	―	5.24%	-201.60%
1202	54 Neutral	HK$352.00M	-463.16	-0.09%	―	-23.93%	-109.41%
9963	48 Neutral	HK$771.36M	-7.15	-24.22%	―	-20.95%	-13.14%
0947	44 Neutral	HK$125.98M	-0.96	-29.56%	―	-12.03%	-40.38%