Zengame Technology Holding Ltd. (2660) AI Stock Analysis

• Market Cap: HK$2.63B
• Dividend Yield: 13.83%
• Average Volume (3M): 610.00K
• Price to Earnings (P/E): 6.7
• Beta (1Y): 0.47
• Revenue Growth: -27.66%
• EPS Growth: -51.96%
• Country: HK
• Employees: 494
• Sector: Communication Services
• Sector Strength: 97
• Industry: Electronic Gaming & Multimedia
• EPS (TTM): 0.18
• Shares Outstanding: 1,035,142,200
• 10 Day Avg. Volume: 637,150
• 30 Day Avg. Volume: 610,000
• PEG Ratio: -0.15
• Price to Book (P/B): 1.02
• Price to Sales (P/S): 1.57
• P/FCF Ratio: 5.50
• 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: 72 Outperform
• Price Target: HK$3.00 ▲(16.73% Upside)
• Action: Reiterated Date: 10/24/25
• Date: Action: Reiterated 10/24/25

Zengame Technology Holding Ltd. scores well due to its strong financial stability and attractive valuation, highlighted by a low P/E ratio and high dividend yield. However, the recent revenue decline and lack of strong technical momentum slightly dampen the overall score.

Positive Factors

Low Leverage / Strong Equity

A very low debt-to-equity ratio and high equity ratio provide durable financial flexibility: the company can fund game development, marketing, or M&A without relying on costly external borrowing. This reduces insolvency risk and supports multi-year strategic investments.

Negative Factors

Material Revenue Contraction

A ~28% revenue decline is a structural red flag for a content-driven games company; it suggests user engagement, monetization, or catalogue freshness issues. Prolonged top-line weakness constrains reinvestment, weakens network effects, and risks margin sustainability.

Zengame Technology Holding Ltd. Business Overview & Revenue Model

Company Description

Zengame Technology Holding Limited develops and operates mobile games in the People's Republic of China. The company offers card and board games, as well as other casual mobile games. It also provides technical services. As of December 31, 2021, i...

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Zengame Technology Holding Limited develops and operates mobile games in the People's Republic of China. The company offers card and board games, as well as other casual mobile games. It also provides technical services. As of December 31, 2021, i...

How the Company Makes Money

Zengame Technology Holding Ltd. generates revenue through multiple streams, primarily from in-app purchases and advertising within its mobile games. The company employs a freemium model, offering free-to-play games that encourage users to make opt...

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Zengame Technology Holding Ltd. generates revenue through multiple streams, primarily from in-app purchases and advertising within its mobile games. The company employs a freemium model, offering free-to-play games that encourage users to make opt...

Zengame Technology Holding Ltd. Financial Statement Overview

Breakdown	TTM	Dec 2024	Dec 2023	Dec 2022	Dec 2021	Dec 2020
Income Statement
Total Revenue	1.43B	1.66B	2.06B	1.77B	1.47B	742.51M
Gross Profit	789.79M	918.63M	1.23B	1.14B	905.38M	364.56M
EBITDA	382.32M	545.38M	897.26M	773.65M	607.22M	243.17M
Net Income	303.60M	430.68M	725.88M	680.78M	500.34M	220.97M
Balance Sheet
Total Assets	2.94B	2.88B	2.64B	2.05B	1.49B	856.13M
Cash, Cash Equivalents and Short-Term Investments	2.30B	2.22B	1.92B	1.29B	1.15B	719.52M
Total Debt	20.56M	24.49M	5.10M	21.53M	18.47M	4.73M
Total Liabilities	344.84M	316.85M	320.52M	284.90M	262.62M	59.53M
Stockholders Equity	2.59B	2.56B	2.32B	1.77B	1.23B	796.61M
Cash Flow
Free Cash Flow	256.77M	473.36M	709.00M	726.05M	500.28M	252.75M
Operating Cash Flow	267.96M	490.03M	720.85M	732.35M	507.06M	257.83M
Investing Cash Flow	-593.37M	-781.80M	-164.37M	-246.83M	-77.01M	-97.14M
Financing Cash Flow	-249.25M	-232.65M	-210.13M	-143.85M	-68.63M	-31.37M

Zengame Technology Holding Ltd. Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 2.57
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:2660, the sentiment is Positive. The current price of 2.57 is above the 20-day moving average (MA) of 2.37, above the 50-day MA of 2.38, and above the 200-day MA of 2.36, indicating a bullish trend. The MACD of 0.05 indicates Negative momentum. The RSI at 67.55 is Neutral, neither overbought nor oversold. The STOCH value of 81.96 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for HK:2660.

Zengame Technology Holding Ltd. Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
2660	72 Outperform	HK$2.63B	6.70	13.33%	13.83%	-27.66%	-51.96%
Sector *	60 Neutral	$48.67B	4.58	-11.27%	4.14%	2.83%	-41.78%
6820	57 Neutral	HK$1.07B	9.45	7.59%	―	30.71%	―
3798	56 Neutral	HK$1.64B	8.45	-3.41%	7.30%	-23.42%	-191.82%
6633	56 Neutral	HK$1.93B	16.23	6.38%	―	-41.86%	―
9990	42 Neutral	HK$1.17B	-31.76	-7.91%	―	41.00%	23.75%
0302	39 Underperform	HK$670.97M	-0.72	-70.09%	―	-36.80%	-666.80%

Zengame Technology Holding Ltd. Corporate Events