ZX Inc. (HK:9890)
:9890
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ZX Inc.
(9890)
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Select Model
Rating:61Neutral
Price Target:
HK$20.50
▲(11.84% Upside)
Action:ReiteratedDate:12/13/25
ZX Inc.'s stock score is primarily influenced by its challenging financial performance, marked by declining revenues and cash flow issues. Positive technical indicators provide some support, but the overbought status suggests caution. The valuation appears reasonable, but profitability concerns remain a significant risk.
Positive Factors
Diversified recurring revenue & cloud partnerships
ZX’s mix of subscription licenses, consulting services and strategic cloud provider partnerships supports recurring revenue and broader distribution. This business model fosters more predictable cash flow, enhances cross-sell opportunities, and strengthens customer retention over a multi‑quarter horizon.
Negative Factors
Sharp revenue decline
A meaningful drop in top-line scale undermines operating leverage and long-term competitiveness. Persistent revenue contraction pressures unit economics, reduces available investment for product innovation and sales, and signals potential structural demand or market-share issues needing strategic correction.
Read all positive and negative factors
Positive Factors
Negative Factors
Diversified recurring revenue & cloud partnerships
ZX’s mix of subscription licenses, consulting services and strategic cloud provider partnerships supports recurring revenue and broader distribution. This business model fosters more predictable cash flow, enhances cross-sell opportunities, and strengthens customer retention over a multi‑quarter horizon.
Read all positive factors
ZX Inc. (9890) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$8.18B
Dividend YieldN/A
Average Volume (3M)4.06M
Price to Earnings (P/E)5.6
Beta (1Y)1.31
Revenue Growth-31.38%
EPS GrowthN/A
CountryHK
Employees912
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)1.81
Shares Outstanding534,439,940
10 Day Avg. Volume1,736,060
30 Day Avg. Volume4,062,381
Financial Highlights & Ratios
PEG Ratio9.66
Price to Book (P/B)1.48
Price to Sales (P/S)0.64
P/FCF Ratio-1.73
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$30.92Price Target Upside68.69% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)2.26
Revenue Forecast (FY)HK$5.62B
ZX Inc. Business Overview & Revenue Model
Company Description
ZX Inc. operates as a publisher of online game products in Mainland China and Hong Kong. The company operates and markets games under the Tan Wan brand, as well as offers real estate and other marketing services. It also sells rice noodle products...
How the Company Makes Money
ZX Inc. generates revenue through multiple streams, primarily by selling software licenses and subscription-based services for its enterprise solutions. The company also earns income from consulting and implementation services, which help clients ...
ZX Inc. Financial Statement Overview
Summary
Income Statement
45
Neutral
Balance Sheet
55
Neutral
Cash Flow
40
Negative
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 4.36B | 5.58B | 6.51B | 8.82B | 5.74B | 2.87B |
| Gross Profit | 2.87B | 4.02B | 4.57B | 6.41B | 4.74B | 2.44B |
| EBITDA | 777.05M | 59.72M | 477.81M | 715.77M | 741.64M | -1.20B |
| Net Income | 981.28M | -3.62M | 235.49M | 514.07M | 615.91M | -1.30B |
Balance Sheet | ||||||
| Total Assets | 5.70B | 5.56B | 7.27B | 9.80B | 6.56B | 3.86B |
| Cash, Cash Equivalents and Short-Term Investments | 1.78B | 1.26B | 899.69M | 1.53B | 1.85B | 943.92M |
| Total Debt | 1.14B | 1.77B | 3.21B | 6.41B | 3.72B | 1.87B |
| Total Liabilities | 2.43B | 3.14B | 4.99B | 8.09B | 5.38B | 3.20B |
| Stockholders Equity | 3.19B | 2.40B | 2.29B | 1.73B | 1.18B | 662.18M |
Cash Flow | ||||||
| Free Cash Flow | -1.16B | -2.05B | -2.57B | 2.11B | 2.59B | -346.59M |
| Operating Cash Flow | -1.14B | -2.00B | -2.35B | 2.28B | 2.63B | -301.53M |
| Investing Cash Flow | 929.31M | 2.10B | 2.86B | -3.21B | -2.30B | 689.73M |
| Financing Cash Flow | 0.00 | -67.72M | -232.31M | 443.13M | -32.30M | -25.46M |
ZX Inc. Technical Analysis
Negative
18.33
Price Trends
17.61
Negative
16.88
Negative
15.68
Negative
Market Momentum
-0.76
Positive
41.52
Neutral
23.15
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9890, the sentiment is Negative. The current price of 18.33 is above the 20-day moving average (MA) of 16.27, above the 50-day MA of 17.61, and above the 200-day MA of 15.68, indicating a bearish trend. The MACD of -0.76 indicates Positive momentum. The RSI at 41.52 is Neutral, neither overbought nor oversold. The STOCH value of 23.15 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:9890.
ZX Inc. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
66 Neutral | HK$334.71M | -9.16 | 3.14% | ― | -25.66% | -23.36% | |
61 Neutral | HK$8.18B | 5.61 | 39.89% | ― | -31.38% | ― | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
53 Neutral | HK$299.60M | -10.43 | -39.50% | ― | -3.02% | 72.76% | |
51 Neutral | HK$103.46M | -9.16 | -2.01% | ― | 20.90% | 70.71% | |
42 Neutral | HK$87.26M | -3.53 | -18.33% | ― | -5.90% | 60.75% | |
39 Underperform | HK$682.95M | -0.72 | -51.43% | ― | -36.80% | -666.80% |
* Communication Services Sector Average
HK:9890
ZX Inc.
15.50
7.92
104.49%
HK:2022
Digital Hollywood Interactive Limited
0.05
>-0.01
-11.32%
HK:0302
CMGE Technology Group Limited
0.23
-0.09
-28.75%
HK:6860
FingerTango, Inc.
0.18
0.06
50.00%
HK:6933
Sino-Entertainment Technology Holdings Limited
0.70
0.53
311.76%
HK:8267
Linekong Interactive Group Co., Ltd.
0.28
0.06
27.27%
ZX Inc. Corporate Events
Tanwan Inc. Completes HK$468 Million Zero-Coupon Convertible Bond Issue
Jan 8, 2026
Tanwan Inc. has completed the issuance of HK$468 million zero-coupon convertible bonds due 2027, following satisfaction of all conditions under its subscription and placing agreement, with all bonds placed to an independent third-party subscriber....
Tanwan Inc. Unveils Convertible Bond Plans for AI Expansion
Dec 17, 2025
Tanwan Inc. has announced plans to issue HK$468 million zero-coupon convertible bonds due 2027 to accelerate investments in AI-related businesses and equity ventures, aligning with its ‘AI+Game’ strategic vision. These bonds represent ...
Tanwan Inc. Expands Pop Toy Industry Presence with New Artist Collaboration
Nov 27, 2025
Tanwan Inc. has announced a strategic cooperation agreement with COEXIST Group to integrate over 200 pop toy artists for the development, sales, and promotion of artistic works. This five-year collaboration aims to expand Tanwan’s presence i...
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.