Fire Rock Holdings Ltd (1909) AI Stock Analysis

• Market Cap: HK$345.60M
• Dividend Yield: N/A
• Average Volume (3M): 26.16K
• Price to Earnings (P/E): ―
• Beta (1Y): 1.02
• Revenue Growth: 4.20%
• EPS Growth: -103.05%
• Country: HK
• Employees: 151
• Sector: Communication Services
• Sector Strength: 87
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): -0.09
• Shares Outstanding: 192,000,000
• 10 Day Avg. Volume: 44,060
• 30 Day Avg. Volume: 26,163
• PEG Ratio: -0.69
• Price to Book (P/B): -5.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: -795.56
• 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

• Rating: 49 Neutral
• Price Target: HK$2.00 ▲(11.11%Upside)

The overall score is primarily impacted by financial performance challenges, including volatility in revenue and profitability. Technical analysis provides a neutral outlook with balanced momentum, while valuation is hindered by a negative P/E ratio and lack of dividend yield.

Fire Rock Holdings Ltd Business Overview & Revenue Model

Company Description

Fire Rock Holdings Ltd (1909) is a company engaged in the development, operation, and distribution of online games. The company primarily focuses on creating and managing interactive and entertaining gaming experiences, catering to a diverse audience across various digital platforms.

How the Company Makes Money

Fire Rock Holdings Ltd generates revenue through multiple streams, primarily by developing and publishing online games. The company earns money from in-game purchases made by players, which may include virtual goods, enhancements, and additional features within their games. Additionally, Fire Rock Holdings may generate income from advertising within their gaming platforms and through partnerships or collaborations with other companies in the gaming industry. The company's revenue is also influenced by the popularity and engagement levels of its games, as higher player retention and active user numbers can lead to increased spending and advertising opportunities.

Fire Rock Holdings Ltd Financial Statement Overview

Summary

Fire Rock Holdings Ltd faces challenges in maintaining stable financial performance. Improvements in recent years with positive cash flow and stronger equity are noted, but the overall trend shows past volatility in revenue, profitability, and leverage. The company needs to focus on sustaining revenue growth and profitability for long-term stability.

Income Statement

The income statement reveals challenges in profitability and growth. The company shows a significant net loss in the latest year, indicating weak net profit margins. Gross profit margin is relatively strong, but the decline in revenue from previous years suggests negative revenue growth, impacting overall performance. EBIT and EBITDA margins are also not favorable, further highlighting profitability issues.

Balance Sheet

The balance sheet shows a relatively strong equity position with a high equity ratio, indicating financial stability. However, the negative stockholders' equity in previous years, paired with a high debt-to-equity ratio, suggests past leverage issues. Recent improvements are noted, but historical instability affects the score.

Cash Flow

Cash flow analysis shows positive free cash flow in the latest year, indicating improved cash management. However, previous years had negative free cash flow and operating cash flow, revealing potential volatility in cash generation. The operating cash flow to net income ratio is inconsistent, highlighting fluctuations in cash flow performance.

Breakdown
TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement		Total Revenue
195.97M	140.59M	134.93M	115.06M	1.04B	618.08M
	Gross Profit
154.52M	109.66M	107.54M	76.59M	867.08M	569.56M
	EBIT
585.69K	19.70M	828.00K	935.00K	26.81M	497.22M
	EBITDA
-1.47M	22.24M	592.19M	64.66M	106.28M	484.61M
	Net Income Common Stockholders
804.07M	-17.07M	559.91M	30.20M	-1.21B	386.18M
Balance Sheet		Cash, Cash Equivalents and Short-Term Investments
85.49M	53.64M	85.49M	119.54M	347.75M	731.12M
	Total Assets
160.87M	134.68M	160.87M	189.71M	397.29M	906.71M
	Total Debt
1.22M	1.99M	1.22M	585.92M	620.00M	9.36M
	Net Debt
-84.28M	-51.65M	-84.28M	466.37M	272.25M	-698.03M
	Total Liabilities
20.55M	20.68M	20.55M	610.97M	852.93M	89.98M
	Stockholders Equity
131.07M	112.30M	131.07M	-430.01M	-461.39M	815.05M
Cash Flow		Free Cash Flow
-47.71M	5.70M	-38.63M	-2.70M	523.86M	478.95M
	Operating Cash Flow
-34.41M	6.16M	-23.72M	2.59M	550.61M	517.10M
	Investing Cash Flow
6.69M	-9.24M	4.52M	-19.61M	-741.98M	65.08M
	Financing Cash Flow
-23.68M	-27.61M	-16.32M	-212.01M	-178.83M	―

Fire Rock Holdings Ltd Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 1.80
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: 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 1.8 is below the 20-day moving average (MA) of 1.87, below the 50-day MA of 1.81, and below the 200-day MA of 2.39, indicating a bearish trend. The MACD of >-0.01 indicates Positive momentum. The RSI at 44.94 is Neutral, neither overbought nor oversold. The STOCH value of 14.14 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

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
Sector *	61 Neutral	$14.74B	5.97	-3.99%	6.57%	2.79%	-32.84%
1909	49 Neutral	HK$345.60M	―	-14.02%	―	4.20%	-103.05%
0485	41 Neutral	HK$30.22M	―	-9.57%	―	-32.53%	29.06%

Fire Rock Holdings Ltd Corporate Events

Fire Rock Holdings Expands into Indonesian Gaming Market

Fire Rock Holdings Limited has announced plans to expand its operations into Indonesia, marking it as the third Southeast Asian market following Singapore and Thailand. The company aims to establish a research and development team and publish games in Indonesia, with an investment of approximately HK$60 million over the next three years. This strategic move is expected to enhance the company’s presence in the region and generate income by mid-2026, leveraging its previous successes in other Southeast Asian markets.

Fire Rock Holdings Ltd Passes All Resolutions at AGM

Fire Rock Holdings Ltd, a company listed on the Hong Kong Stock Exchange, held its Annual General Meeting (AGM) on May 30, 2025, in Singapore. The meeting was attended by shareholders representing approximately 47.46% of the total issued shares. All resolutions proposed at the AGM, including the approval of financial statements, re-election of directors, and re-appointment of auditors, were passed with overwhelming support. The company also granted mandates to its directors to issue additional shares and repurchase shares, indicating strategic flexibility in its financial operations.

Fire Rock Holdings Ltd Announces 2025 AGM Agenda

Fire Rock Holdings Ltd has announced its upcoming Annual General Meeting (AGM) scheduled for May 30, 2025, in Singapore. Key agenda items include the approval of the 2024 financial statements, re-election of directors, re-appointment of the auditor, and granting the board authority to issue shares. These resolutions aim to ensure continued governance and operational flexibility, potentially impacting the company’s strategic initiatives and shareholder value.

Fire Rock Holdings Approves Share Consolidation at EGM

Fire Rock Holdings Ltd announced the results of its Extraordinary General Meeting (EGM), where a resolution for a share consolidation was approved. The share consolidation involves converting every twenty issued and unissued shares into one share with a higher par value. This move, effective from March 31, 2025, is expected to streamline the company’s share structure and potentially enhance its market perception. The approval was overwhelmingly supported by shareholders, indicating strong backing for the company’s strategic direction.

Fire Rock Holdings Reports 2024 Annual Results with Revenue Growth but Profit Decline

Fire Rock Holdings Ltd reported its annual results for the year ended December 31, 2024, with a revenue increase of 4.2% to approximately HKD140.6 million and a gross profit rise of 4.9% to approximately HKD112.8 million. However, the company’s profit for the year dropped significantly to HKD1.9 million from HKD572.5 million in 2023, primarily due to the absence of a one-time gain from the surrender of promissory notes recorded in the previous year. The board has decided not to recommend a final dividend for the year.

Fire Rock Holdings Issues Supplemental Profit Warning

Fire Rock Holdings Limited, a company listed on the Hong Kong Stock Exchange, has issued a supplemental announcement regarding its profit warning. The company anticipates a significant decrease in its unaudited profit for the relevant period, reporting approximately HK$1.9 million compared to HK$572.5 million for the year ended December 31, 2023. This decline is attributed to a substantial drop in other income, specifically from a non-recurring event involving promissory notes related to an acquisition. Shareholders and potential investors are advised to exercise caution as the figures are preliminary and subject to change.