Forgame Holdings Ltd. AI Stock Analysis
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Forgame Holdings Ltd. (0484) AI Stock Analysis
Forgame Holdings Ltd.
(HKEX:0484)
The overall score of 40 is heavily weighed down by profound profitability challenges and a severe lack of earnings, which overshadow the company's unleveraged balance sheet. Compounding these fundamental risks is a strong technical downtrend, signaling weak market sentiment and significant headwinds for the stock.
Forgame Holdings Ltd. (0484) vs. iShares MSCI Hong Kong ETF (EWH)
- Market Cap
- HKD 102.69M
- Dividend Yield
- ―
- Average Volume (3M)
- 32.25K
- Price to Earnings (P/E)
- -2.0
- Beta (1Y)
- 0.58
- Revenue Growth
- 7.50%
- EPS Growth
- 50.14%
- Country
- Hong Kong
- Employees
- 33
- Sector
- Technology
- Sector Strength
- 61
- Industry
- Technology Distributors
Forgame Holdings Ltd. Business Overview & Revenue Model
Company Description
Forgame Holdings Limited functions as an investment holding company, primarily engaged in the creation, management, and distribution of online and mobile gaming titles for both the Chinese domestic market and an international audience. Its business i...
How the Company Makes Money
Forgame primarily makes money from the commercialization of games it publishes and/or operates. Key revenue streams generally include: (1) in-game monetization, where players purchase virtual items, game currency, or access to premium features within...
Forgame Holdings Ltd. Financial Statement Overview
Summary
The company maintains a highly stable balance sheet with near-zero debt. However, core operations are fundamentally weak, suffering from razor-thin gross margins of 3.1%, chronic net losses, and persistent negative free cash flow.
Income Statement
30NegativeBalance Sheet
65PositiveCash Flow
35Negative| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 127.61M | 155.57M | 82.58M | 60.17M | 114.12M | 142.14M |
| Gross Profit | 7.71M | 7.85M | 7.60M | 24.09M | 5.77M | 13.60M |
| EBITDA | -39.83M | -27.62M | -37.78M | 12.91M | 1.80M | -15.63M |
| Net Income | -42.52M | -47.19M | -59.31M | -17.62M | -20.11M | 17.55M |
Balance Sheet | ||||||
| Total Assets | 443.12M | 451.33M | 529.36M | 655.76M | 724.02M | 713.39M |
| Cash, Cash Equivalents and Short-Term Investments | 314.77M | 317.81M | 310.58M | 334.40M | 326.91M | 372.27M |
| Total Debt | 3.31M | 3.96M | 2.91M | 3.69M | 7.59M | 8.90M |
| Total Liabilities | 44.51M | 29.63M | 44.95M | 65.49M | 80.81M | 76.74M |
| Stockholders Equity | 398.60M | 421.70M | 483.62M | 590.27M | 643.21M | 636.66M |
Cash Flow | ||||||
| Free Cash Flow | -11.93M | -1.78M | -25.27M | -20.87M | -29.52M | -166.80M |
| Operating Cash Flow | -10.82M | -762.73K | -24.71M | -20.25M | -29.40M | -129.89M |
| Investing Cash Flow | -6.52M | -87.88M | 1.68M | -4.13M | -130.35M | 115.96M |
| Financing Cash Flow | -1.28M | 11.86M | -2.80M | -6.05M | -1.71M | 2.90M |
Forgame Holdings Ltd. Technical Analysis
Price Trends
Market Momentum
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:0484, the sentiment is Negative. The current price of 0.58 is below the 20-day moving average (MA) of 0.61, below the 50-day MA of 0.63, and below the 200-day MA of 0.74, indicating a bearish trend. The MACD of -0.01 indicates Negative momentum. The RSI at 39.45 is Neutral, neither overbought nor oversold. The STOCH value of 44.24 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:0484.
Forgame Holdings Ltd. Peers Comparison
Overall Rating
HK:682061Neutral
HK:111946Neutral
HK:686042Neutral
HK:689941Neutral- HK:048440Underperform
HK:030240Underperform
Financial Indicators
| Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
| Sector * | 61Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% |
| HK:6820 | 61Neutral | HKD 730.58M | 4.83 | 9.81% | 5.97% | 0.50% | 101.22% |
| HK:1119 | 46Neutral | HKD 709.46M | 99.25 | 0.56% | ― | 4.87% | ― |
| HK:6860 | 42Neutral | HKD 172.94M | -2.16 | -9.03% | ― | -27.61% | -348.17% |
| HK:6899 | 41Neutral | HKD 242.30M | -2.39 | -75.88% | ― | ― | ― |
| HK:0484 | 40Underperform | HKD 102.69M | -2.03 | -10.37% | ― | 7.50% | 50.14% |
| HK:0302 | 40Underperform | HKD 495.82M | -0.45 | -38.88% | ― | -30.74% | 64.20% |
* Technology Sector Average
Performance Comparison
| Show on chart | Ticker | Company Name | Price | Change | % Change |
|---|---|---|---|---|---|
| HK:0484 | Forgame Holdings Ltd. | 0.58 | -0.19 | -24.03% | |
| HK:1119 | iDreamSky Technology Holdings Limited | 0.32 | -0.40 | -56.25% | |
| HK:6899 | Ourgame International Holdings Ltd | 0.23 | -0.02 | -9.80% | |
| HK:0302 | CMGE Technology Group Limited | 0.16 | -0.20 | -54.44% | |
| HK:6820 | FriendTimes Inc. | 0.34 | -0.14 | -29.92% | |
| HK:6860 | FingerTango, Inc. | 0.09 | -0.11 | -53.50% |
Forgame Holdings Ltd. Corporate Events
Forgame Takes Delivery of Alibaba Shares After Equity-Linked Note Triggers
Forgame Holdings disclosed that it entered into an equity-linked fixed coupon note in September 2025 with a principal of US$750,000, funded entirely by internal cash, linked to shares of Alibaba Group Holding, Royal Caribbean Cruises, and Spotify Tec...
Forgame Narrows Interim Loss Despite Sharply Lower Revenue
Forgame Holdings Ltd. is a Cayman Islands–incorporated company listed in Hong Kong and primarily engaged in online gaming, while also developing its electronic commerce offerings. Operating in a highly competitive and rapidly evolving market shaped b...
Forgame Sets August Board Meeting to Review Interim Results and Dividend
Forgame Holdings Limited has scheduled a board meeting for 21 August 2026 to review and approve the Group’s interim results for the six months ended 30 June 2026. The meeting will also consider whether to recommend the payment of an interim dividend...
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.
Date of analysis: Sep 15, 2026