Fire Rock Holdings Ltd (HK:1909)
:1909
Want to see HK:1909 full AI Analyst Report?
Top Page
Fire Rock Holdings Ltd
(1909)
Select Model
Select Model
Rating:48Neutral
Price Target:
HK$2.00
▲(30.72% Upside)
Action:Reiterated
Date:05/27/26
The score is mainly constrained by weak financial performance: sharply worsening profitability and negative/volatile cash flow outweigh strong revenue growth, even with a conservatively levered balance sheet. Technical signals are mixed and not decisively bullish, while valuation is difficult to support due to losses (negative P/E) and no provided dividend yield.
Positive Factors
Strong revenue growth
Sustained 36.6% revenue growth in 2025 signals durable demand expansion or greater market penetration for the company's offerings. Over a 2–6 month horizon this supports scale economics, revenue visibility for planning, and the potential to absorb fixed costs if cost control is restored.
Negative Factors
Sharply worsening profitability
A dramatic swing to a -44.1% net margin reflects persistent operating losses that erode shareholder value and indicate structural issues in cost control, pricing, or mix. Over months this undermines reinvestment capacity and makes earnings recovery challenging without material operational changes.
Read all positive and negative factors
Positive Factors
Negative Factors
Strong revenue growth
Sustained 36.6% revenue growth in 2025 signals durable demand expansion or greater market penetration for the company's offerings. Over a 2–6 month horizon this supports scale economics, revenue visibility for planning, and the potential to absorb fixed costs if cost control is restored.
Read all positive factors
Fire Rock Holdings Ltd (1909) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$429.79M
Dividend YieldN/A
Average Volume (3M)233.64K
Price to Earnings (P/E)―
Beta (1Y)0.71
Revenue Growth3.99%
EPS Growth-278.69%
CountryHK
Employees151
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)-0.27
Shares Outstanding242,821,040
10 Day Avg. Volume231,630
30 Day Avg. Volume233,640
Financial Highlights & Ratios
PEG Ratio-0.02
Price to Book (P/B)2.45
Price to Sales (P/S)2.15
P/FCF Ratio-104.19
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 functions as an investment holding enterprise, primarily specializing in the development of games for web browsers and mobile devices. Its market reach encompasses the People's Republic of China, North America, Europe, a...
Fire Rock Holdings Ltd Financial Statement Overview
Summary
Income Statement
34
Negative
Balance Sheet
76
Positive
Cash Flow
28
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Jun 2023 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 189.05M | 146.15M | 140.59M | 134.93M | 115.06M | 1.04B |
| Gross Profit | 143.94M | 95.48M | 109.66M | 107.54M | 74.63M | 867.08M |
| EBITDA | 21.03M | 6.59M | 22.24M | 592.19M | 64.66M | -1.02B |
| Net Income | -53.92M | -64.38M | -17.07M | 559.91M | 30.20M | -1.21B |
Balance Sheet | ||||||
| Total Assets | 120.10M | 157.81M | 134.68M | 160.87M | 189.71M | 397.29M |
| Cash, Cash Equivalents and Short-Term Investments | 49.92M | 112.84M | 53.64M | 85.49M | 119.54M | 347.75M |
| Total Debt | 2.56M | 3.35M | 1.99M | 1.22M | 585.92M | 620.00M |
| Total Liabilities | 17.52M | 22.84M | 20.68M | 20.55M | 610.97M | 852.93M |
| Stockholders Equity | 96.93M | 128.25M | 112.30M | 131.07M | -430.01M | -461.39M |
Cash Flow | ||||||
| Free Cash Flow | 15.47M | -3.02M | 5.70M | -38.63M | -2.70M | 523.86M |
| Operating Cash Flow | 15.92M | -1.73M | 6.16M | -23.72M | 2.59M | 550.61M |
| Investing Cash Flow | -1.60M | -778.00K | -9.24M | 4.52M | -19.61M | -741.98M |
| Financing Cash Flow | -28.43M | 61.58M | -27.61M | -16.32M | -212.01M | -178.83M |
Fire Rock Holdings Ltd Technical Analysis
Negative
1.53
Price Trends
1.98
Negative
2.31
Negative
2.04
Negative
Market Momentum
-0.06
Negative
33.95
Neutral
19.05
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:1909, the sentiment is Negative. The current price of 1.53 is below the 20-day moving average (MA) of 1.87, below the 50-day MA of 1.98, and below the 200-day MA of 2.04, indicating a bearish trend. The MACD of -0.06 indicates Negative momentum. The RSI at 33.95 is Neutral, neither overbought nor oversold. The STOCH value of 19.05 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative 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 |
|---|---|---|---|---|---|---|---|
78 Outperform | HK$2.21B | 5.43 | 13.33% | 13.83% | -6.66% | -19.70% | |
73 Outperform | HK$627.42M | 6.02 | 22.27% | 3.30% | 18.86% | 13.01% | |
61 Neutral | HK$774.20M | 6.93 | 7.66% | ― | 7.36% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
48 Neutral | HK$429.79M | -5.62 | -59.30% | ― | 3.99% | -278.69% | |
47 Neutral | HK$629.64M | 30.06 | -27.26% | ― | -11.59% | ― | |
43 Neutral | HK$561.31M | -0.32 | -51.92% | ― | -28.02% | 34.04% |
* Communication Services Sector Average
HK:1909
Fire Rock Holdings Ltd
1.77
0.01
0.57%
HK:1119
iDreamSky Technology Holdings Limited
0.31
-0.48
-60.90%
HK:2458
Gala Technology Holding Limited
4.93
0.18
3.79%
HK:2660
Zengame Technology Holding Ltd.
2.13
0.01
0.52%
HK:0302
CMGE Technology Group Limited
0.18
-0.31
-63.27%
HK:6820
FriendTimes Inc.
0.36
-0.61
-63.25%
Fire Rock Holdings Ltd Corporate Events
Fire Rock shareholders back board, auditor and share issue mandate at AGM
Jun 5, 2026
Fire Rock Holdings Ltd reported that its annual general meeting held in Singapore on 5 June 2026 drew shareholder participation representing about 54.32% of its issued share capital. All resolutions were put to a poll, with no shareholders require...
Fire Rock Sets 2026 AGM to Approve Accounts, Board and Share Issuance Mandate
May 14, 2026
Fire Rock Holdings Ltd has called its annual general meeting for 5 June 2026 in Singapore, where shareholders will review and approve the audited consolidated financial statements for the year ended 31 December 2025 alongside the directors’ ...
Fire Rock Moves Singapore Headquarters to New Anson Road Location
Apr 2, 2026
Fire Rock Holdings Ltd has relocated its Singapore headquarters and principal place of business to 70 Anson Road, Hub Synergy Point, effective 1 April 2026, while keeping its telephone, fax numbers and website unchanged. The move signals an operat...
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.