Fire Rock Holdings Ltd (HK:1909)
:1909
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Fire Rock Holdings Ltd
(1909)
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Select Model
Rating:46Neutral
Price Target:
HK$2.50
▲(63.40% Upside)
Action:ReiteratedDate:01/30/26
The score is primarily weighed down by weak financial performance (net losses, poor operating margins, and revenue decline), with additional pressure from loss-driven valuation (negative P/E). Technicals are supportive of an uptrend, but extreme overbought signals temper the benefit.
Positive Factors
Diversified business model
A diversified holding model across oil & gas, renewables, real estate and technology reduces single-sector exposure and smooths cash flows over cycles. Structural exposure to renewables and real estate supports multi-year resilience and optionality for capital allocation and strategic partnerships.
Negative Factors
Weak profitability and margins
Material net losses and weak operating margins undermine internal capital generation and sustainable earnings. Over a multi-month horizon, persistent margin weakness constrains reinvestment, raises dependence on external capital, and risks continued equity erosion if not addressed.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified business model
A diversified holding model across oil & gas, renewables, real estate and technology reduces single-sector exposure and smooths cash flows over cycles. Structural exposure to renewables and real estate supports multi-year resilience and optionality for capital allocation and strategic partnerships.
Read all positive factors
Fire Rock Holdings Ltd (1909) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$573.06M
Dividend YieldN/A
Average Volume (3M)233.64K
Price to Earnings (P/E)―
Beta (1Y)0.80
Revenue Growth12.84%
EPS Growth-113.72%
CountryHK
Employees151
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-0.19
Shares Outstanding242,821,040
10 Day Avg. Volume231,630
30 Day Avg. Volume233,640
Financial Highlights & Ratios
PEG Ratio0.28
Price to Book (P/B)4.45
Price to Sales (P/S)3.55
P/FCF Ratio87.58
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
Fire Rock Holdings Ltd Business Overview & Revenue Model
Company Description
Fire Rock Holdings Limited, an investment holding company, develops browser and mobile games in the People's Republic of China, North America, Europe, and the Asia Pacific. It operates through two segments: Game and Software Development, and Game ...
How the Company Makes Money
Fire Rock Holdings Ltd generates revenue through multiple streams, primarily from its investments in oil and gas operations, which include exploration, drilling, and production activities. The company partners with established firms to share resou...
Fire Rock Holdings Ltd Financial Statement Overview
Summary
Income Statement
30
Negative
Balance Sheet
40
Negative
Cash Flow
45
Neutral
| Breakdown | TTM | Dec 2024 | Dec 2023 | Jun 2023 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 106.94M | 140.59M | 134.93M | 115.06M | 1.04B | 586.10M |
| Gross Profit | 77.30M | 109.66M | 107.54M | 76.59M | 867.08M | 534.95M |
| EBITDA | 12.02M | 22.24M | 592.19M | 64.66M | -1.02B | 484.61M |
| Net Income | -26.75M | -17.07M | 559.91M | 30.20M | -1.21B | 386.18M |
Balance Sheet | ||||||
| Total Assets | 120.10M | 134.68M | 160.87M | 189.71M | 397.29M | 906.71M |
| Cash, Cash Equivalents and Short-Term Investments | 49.92M | 53.64M | 85.49M | 119.54M | 347.75M | 731.12M |
| Total Debt | 2.56M | 1.99M | 1.22M | 585.92M | 620.00M | 9.36M |
| Total Liabilities | 17.52M | 20.68M | 20.55M | 610.97M | 852.93M | 89.98M |
| Stockholders Equity | 96.93M | 112.30M | 131.07M | -430.01M | -461.39M | 815.05M |
Cash Flow | ||||||
| Free Cash Flow | 6.37M | 5.70M | -38.63M | -2.70M | 523.86M | 478.95M |
| Operating Cash Flow | 6.37M | 6.16M | -23.72M | 2.59M | 550.61M | 517.10M |
| Investing Cash Flow | -3.65M | -9.24M | 4.52M | -19.61M | -741.98M | 54.53M |
| Financing Cash Flow | -8.10M | -27.61M | -16.32M | -212.01M | -178.83M | -32.38M |
Fire Rock Holdings Ltd Technical Analysis
Neutral
1.53
Price Trends
2.61
Negative
2.13
Positive
1.98
Positive
Market Momentum
-0.10
Positive
39.18
Neutral
6.11
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1909, the sentiment is Neutral. The current price of 1.53 is below the 20-day moving average (MA) of 2.57, below the 50-day MA of 2.61, and below the 200-day MA of 1.98, indicating a neutral trend. The MACD of -0.10 indicates Positive momentum. The RSI at 39.18 is Neutral, neither overbought nor oversold. The STOCH value of 6.11 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:1909.
Fire Rock Holdings Ltd Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$303.10M | 33.47 | 3.14% | ― | -25.66% | -23.36% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
46 Neutral | HK$573.06M | -4.89 | -88.73% | ― | 12.84% | -113.72% | |
46 Neutral | HK$892.22M | 1.62 | 2.95% | ― | 183.41% | 39.68% | |
44 Neutral | HK$126.26M | -2.57 | -16.04% | ― | 65.41% | -313.74% | |
41 Neutral | HK$242.30M | -1.22 | ― | ― | ― | ― | |
40 Underperform | HK$72.70M | -2.02 | -42.71% | ― | -43.62% | 22.41% |
* Communication Services Sector Average
HK:1909
Fire Rock Holdings Ltd
2.36
0.68
40.48%
HK:0484
Forgame Holdings Ltd.
0.75
0.13
20.97%
HK:6899
Ourgame International Holdings Ltd
0.23
0.04
21.05%
HK:1022
Feiyu Technology International Company Ltd.
0.51
0.35
218.75%
HK:1961
Infinities Technology International (Cayman) Holding Limited
0.10
-0.34
-77.50%
HK:6860
FingerTango, Inc.
0.16
0.04
35.83%
Fire Rock Holdings Ltd Corporate Events
Fire Rock Reshapes Top Management as CEO Steps Down and Former Chairman Returns
Dec 31, 2025
Fire Rock Holdings has announced senior management changes effective 31 December 2025, with executive director and chief executive officer Zhou Zhiwei stepping down from both roles to focus on driving the group’s overseas business, while rem...
Fire Rock Holdings Sets Out Board and Committee Structure
Dec 31, 2025
Fire Rock Holdings Limited has announced the composition of its board of directors and detailed the membership and leadership of its key governance committees. Chairman Zhang Yan leads a four-member executive team alongside three independent non-e...
Fire Rock Raises HK$79.5 Million via Undersubscribed Rights Issue as Major Shareholder Consolidates Control
Dec 23, 2025
Fire Rock Holdings Limited has completed a rights issue on the basis of one rights share for every two existing shares at HK$1.58 per share, raising gross proceeds of approximately HK$80.3 million (net HK$79.5 million) to be applied in line with p...
Fire Rock Holdings Ltd Announces Rights Issue Results and Compensatory Arrangements
Dec 8, 2025
Fire Rock Holdings Ltd announced the results of its Rights Issue, revealing that approximately 45.78% of the offered 96,000,000 Rights Shares were subscribed. The remaining 54.22% of unsubscribed shares will be offered to independent placees throu...
Fire Rock Holdings Secures Shareholder Approval for Key Financial Resolutions
Nov 7, 2025
Fire Rock Holdings Ltd recently held an Extraordinary General Meeting (EGM) where key resolutions regarding a Rights Issue, Placing Agreement, Underwriting Agreement, and a Whitewash Waiver were passed. The meeting saw participation from sharehold...
Fire Rock Holdings Secures Shareholder Approval for Key Financial Resolutions
Nov 7, 2025
Fire Rock Holdings Ltd recently held an Extraordinary General Meeting (EGM) where shareholders voted on key resolutions including a Rights Issue, Placing Agreement, Underwriting Agreement, and a Whitewash Waiver. The meeting saw significant partic...
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.