FriendTimes Inc. (HK:6820)
:6820
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FriendTimes Inc.
(6820)
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Rating:61Neutral
Price Target:
HK$0.50
▲(8.91% Upside)
Action:ReiteratedDate:04/24/26
The score is driven mainly by improving fundamentals: a 2025 profit and cash-flow rebound alongside a conservatively levered balance sheet. This is tempered by weak technicals (below major moving averages with negative MACD) and a still-early recovery profile given subdued revenue and modest operating margins; valuation is supportive with a low P/E.
Positive Factors
Low leverage and conservative balance sheet
Very low debt-to-equity (~0.06 in 2025) and a sizeable equity base materially reduce financial risk and interest burden. This durable strength gives management flexibility to fund game development, weather cyclical revenue swings, pursue opportunistic M&A, or return capital without stressing liquidity.
Negative Factors
Shrinking revenue base vs prior years
Revenue remaining below prior peak years and declining year‑over‑year reduces scale advantages critical to social gaming. Smaller top line limits ability to spread fixed costs, fund new title development, and maintain competitive user acquisition spend, making durable margin recovery harder to achieve.
Read all positive and negative factors
Positive Factors
Negative Factors
Low leverage and conservative balance sheet
Very low debt-to-equity (~0.06 in 2025) and a sizeable equity base materially reduce financial risk and interest burden. This durable strength gives management flexibility to fund game development, weather cyclical revenue swings, pursue opportunistic M&A, or return capital without stressing liquidity.
Read all positive factors
FriendTimes Inc. (6820) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$992.29M
Dividend YieldN/A
Average Volume (3M)2.26M
Price to Earnings (P/E)9.5
Beta (1Y)0.67
Revenue Growth7.36%
EPS GrowthN/A
CountryHK
Employees887
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.03
Shares Outstanding2,180,850,000
10 Day Avg. Volume1,322,200
30 Day Avg. Volume2,258,866
Financial Highlights & Ratios
PEG Ratio-0.03
Price to Book (P/B)0.69
Price to Sales (P/S)0.71
P/FCF Ratio7.47
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)0.08
Revenue Forecast (FY)HK$1.55B
FriendTimes Inc. Business Overview & Revenue Model
Company Description
FriendTimes Inc., through its subsidiaries, develops, publishes, and operates mobile games in the People's Republic of China and internationally. The company offers mobile games and female-oriented mobile games, including Fate of the Empress, Fate...
How the Company Makes Money
FriendTimes Inc. generates revenue mainly from the operation of its mobile/online games, typically through in-game purchases (e.g., sale of virtual items, gacha/loot-box style draws, consumables, and other digital goods) and, where applicable, adv...
FriendTimes Inc. Financial Statement Overview
Summary
Income Statement
54
Neutral
Balance Sheet
78
Positive
Cash Flow
67
Positive
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.22B | 1.16B | 1.06B | 1.52B | 1.62B |
| Gross Profit | 887.73M | 813.52M | 702.40M | 1.04B | 1.09B |
| EBITDA | 62.38M | -5.01M | -43.17M | 22.36M | 256.61M |
| Net Income | 90.75M | -48.86M | -138.12M | 25.11M | 275.48M |
Balance Sheet | |||||
| Total Assets | 1.44B | 1.40B | 1.47B | 1.61B | 1.81B |
| Cash, Cash Equivalents and Short-Term Investments | 851.15M | 786.36M | 949.27M | 946.14M | 1.05B |
| Total Debt | 71.06M | 149.42M | 147.88M | 1.37M | 1.12M |
| Total Liabilities | 194.68M | 252.40M | 262.05M | 116.23M | 160.32M |
| Stockholders Equity | 1.24B | 1.15B | 1.20B | 1.50B | 1.65B |
Cash Flow | |||||
| Free Cash Flow | 114.92M | -53.13M | -49.92M | 117.20M | 199.48M |
| Operating Cash Flow | 117.19M | -52.83M | -46.29M | 155.21M | 262.66M |
| Investing Cash Flow | -202.92M | 5.86M | 60.11M | -278.04M | -385.54M |
| Financing Cash Flow | -93.25M | -15.31M | -21.70M | -225.36M | -217.04M |
FriendTimes Inc. Technical Analysis
Negative
0.46
Price Trends
0.51
Negative
0.51
Negative
0.60
Negative
Market Momentum
>-0.01
Negative
45.63
Neutral
42.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:6820, the sentiment is Negative. The current price of 0.46 is below the 20-day moving average (MA) of 0.48, below the 50-day MA of 0.51, and below the 200-day MA of 0.60, indicating a bearish trend. The MACD of >-0.01 indicates Negative momentum. The RSI at 45.63 is Neutral, neither overbought nor oversold. The STOCH value of 42.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:6820.
FriendTimes Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
72 Outperform | HK$2.63B | 6.70 | 13.33% | 13.83% | -6.66% | -19.18% | |
66 Neutral | HK$340.29M | -9.16 | 3.14% | ― | -36.25% | -205.76% | |
61 Neutral | HK$992.29M | 9.45 | 7.59% | ― | 7.36% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
54 Neutral | HK$1.88B | 16.23 | 6.38% | ― | -27.41% | 138.08% | |
48 Neutral | HK$1.25B | -31.76 | -1.78% | ― | 14.35% | 87.20% | |
43 Neutral | HK$823.74M | -0.72 | -50.58% | ― | -28.02% | 34.04% |
* Communication Services Sector Average
HK:6820
FriendTimes Inc.
0.45
-0.09
-16.67%
HK:9990
Archosaur Games Inc.
1.64
0.20
13.89%
HK:2660
Zengame Technology Holding Ltd.
2.53
0.62
32.46%
HK:0302
CMGE Technology Group Limited
0.28
-0.07
-19.12%
HK:6633
Qingci Games, Inc.
2.72
-0.21
-7.17%
HK:6860
FingerTango, Inc.
0.18
0.05
38.46%
FriendTimes Inc. Corporate Events
FriendTimes Sets 2026 AGM to Approve Dividend, Board Mandates and Share Issue Authority
Apr 20, 2026
FriendTimes Inc. has called its annual general meeting for 12 May 2026 in Suzhou, where shareholders will review the audited financial statements for the year ended 31 December 2025 and consider a proposed final dividend of HK2 cents per share. Th...
FriendTimes returns to profit as female‑focused game portfolio drives 2025 rebound
Mar 24, 2026
FriendTimes Inc., a prominent Chinese mobile game maker focused on female‑oriented and culturally driven titles, continues to build a diversified portfolio that includes ancient‑style, modern, and creative games, alongside fast‑p...
FriendTimes Declares Final HKD 0.02 Dividend for 2025
Mar 24, 2026
FriendTimes Inc. has declared a final ordinary cash dividend of HKD 0.02 per share for the financial year ended 31 December 2025, payable in Hong Kong dollars. The payout underscores the company’s intent to return capital to shareholders, wi...
FriendTimes sets March 24 board meeting to approve 2025 results and consider dividend
Mar 11, 2026
FriendTimes Inc. has scheduled a board meeting for 24 March 2026 to review and approve the group’s audited final results for the year ended 31 December 2025 and to authorize their publication. The board will also consider recommending a fina...
FriendTimes Forecasts 2025 Profit Turnaround on Hit Games and AI-Driven Efficiency
Feb 11, 2026
FriendTimes Inc. has issued a positive profit alert, indicating it expects 2025 revenue of about RMB1.22 billion to RMB1.26 billion, up roughly 4.9% to 8.4% year on year, and a turnaround to profit of RMB90 million to RMB96 million after a prior-y...
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.