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Zengame Technology Holding Ltd.
(2660)
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Rating:77Outperform
Price Target:
HK$2.50
▲(7.76% Upside)
Action:Reiterated
Date:08/06/26
The score is driven primarily by strong financial stability (very low leverage) and very attractive valuation (low P/E and high dividend yield). Offsetting these positives are signs of cooling operating momentum and weaker cash-flow quality in 2025, while technicals are moderately supportive but not strongly bullish.
Positive Factors
Very low leverage
Minimal debt reduces interest and refinancing risk, giving Zengame financial flexibility to sustain game development, fund live operations, and withstand volatility in title performance.
Negative Factors
Revenue contraction
Declining revenue suggests weaker player spending, title engagement, or monetization momentum. If sustained, this could limit the company’s ability to replace aging games and maintain its operating scale.
Read all positive and negative factors
Positive Factors
Negative Factors
Very low leverage
Minimal debt reduces interest and refinancing risk, giving Zengame financial flexibility to sustain game development, fund live operations, and withstand volatility in title performance.
Read all positive factors
Zengame Technology Holding Ltd. (2660) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$2.44B
Dividend Yield17.06%
Average Volume (3M)275.97K
Price to Earnings (P/E)6.1
Beta (1Y)0.44
Revenue Growth18.51%
EPS Growth13.18%
CountryHK
Employees454
SectorCommunication Services
Sector Strength97
IndustryElectronic Gaming & Multimedia
Share Statistics
EPS (TTM)0.34
Shares Outstanding1,036,256,700
10 Day Avg. Volume526,750
30 Day Avg. Volume275,971
Financial Highlights & Ratios
PEG Ratio-0.31
Price to Book (P/B)0.90
Price to Sales (P/S)1.50
P/FCF Ratio10.22
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)N/A
Revenue Forecast (FY)N/A
Zengame Technology Holding Ltd. Business Overview & Revenue Model
Company Description
Zengame Technology Holding Limited is a company dedicated to the creation and operation of mobile gaming platforms within the People's Republic of China. Their portfolio includes various casual mobile titles, with a particular emphasis on card and...
How the Company Makes Money
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Zengame Technology Holding Ltd. Financial Statement Overview
Summary
Income Statement
72
Positive
Balance Sheet
90
Very Positive
Cash Flow
55
Neutral
| Breakdown | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|
Income Statement | |||||
| Total Revenue | 1.55B | 1.66B | 2.06B | 1.77B | 1.47B |
| Gross Profit | 785.50M | 918.63M | 1.23B | 1.14B | 905.38M |
| EBITDA | 388.11M | 545.38M | 897.26M | 773.65M | 607.22M |
| Net Income | 347.79M | 430.68M | 725.88M | 680.78M | 500.34M |
Balance Sheet | |||||
| Total Assets | 2.84B | 2.88B | 2.64B | 2.05B | 1.49B |
| Cash, Cash Equivalents and Short-Term Investments | 2.28B | 2.22B | 1.92B | 1.29B | 1.15B |
| Total Debt | 18.83M | 24.49M | 5.10M | 21.53M | 18.47M |
| Total Liabilities | 249.90M | 316.85M | 320.52M | 284.90M | 262.62M |
| Stockholders Equity | 2.58B | 2.56B | 2.32B | 1.77B | 1.23B |
Cash Flow | |||||
| Free Cash Flow | 226.51M | 473.36M | 709.00M | 726.05M | 500.28M |
| Operating Cash Flow | 242.40M | 490.03M | 720.85M | 732.35M | 507.06M |
| Investing Cash Flow | -100.41M | -781.80M | -164.37M | -246.83M | -77.01M |
| Financing Cash Flow | -345.43M | -232.65M | -210.13M | -143.85M | -68.63M |
Zengame Technology Holding Ltd. Technical Analysis
Positive
2.32
Price Trends
2.31
Positive
2.32
Positive
2.28
Positive
Market Momentum
<0.01
Negative
53.36
Neutral
63.65
Neutral
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 2.32 is above the 20-day moving average (MA) of 2.32, above the 50-day MA of 2.31, and above the 200-day MA of 2.28, indicating a bullish trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.36 is Neutral, neither overbought nor oversold. The STOCH value of 63.65 is Neutral, 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
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
81 Outperform | HK$3.55B | 5.99 | 17.09% | 4.81% | -1.22% | 1.26% | |
77 Outperform | HK$2.44B | 6.08 | 12.98% | 17.06% | 18.51% | 13.18% | |
61 Neutral | HK$785.11M | 5.22 | 9.81% | 5.56% | 0.50% | 101.22% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
57 Neutral | HK$2.19B | -1.73 | -45.89% | 1.25% | 3.44% | -228.78% | |
53 Neutral | HK$980.59M | 145.82 | 0.56% | ― | 4.87% | ― | |
41 Neutral | HK$242.30M | -2.41 | -75.88% | 0.91% | ― | ― |
* Communication Services Sector Average
HK:2660
Zengame Technology Holding Ltd.
2.35
0.06
2.81%
HK:0799
IGG
3.06
-0.54
-15.12%
HK:0434
Boyaa Interactive International
2.93
-4.39
-59.99%
HK:1119
iDreamSky Technology Holdings Limited
0.46
-0.62
-57.41%
HK:6899
Ourgame International Holdings Ltd
0.23
0.04
21.05%
HK:6820
FriendTimes Inc.
0.36
-0.22
-38.25%
Zengame Technology Holding Ltd. Corporate Events
Zengame Tech Sets August Board Meeting to Review Interim Results and Dividend
Aug 13, 2026
Zengame Technology Holding Ltd. is a Cayman Islands–incorporated company listed in Hong Kong, operating through its subsidiaries as a technology group. It is engaged in the wider tech and digital entertainment ecosystem, overseen by a board ...
Zengame Seeks Shareholder Approval for Major Executive Option Grants
Aug 5, 2026
Zengame Technology Holding Ltd. has called an extraordinary general meeting in Shenzhen on 20 August 2026, where shareholders will vote on three ordinary resolutions concerning major share option grants to key executives. The meeting logistics inc...
Zengame Technology Sets August EGM and Closes Share Register
Jul 31, 2026
Zengame Technology Holding Ltd., a Cayman Islands-incorporated technology group listed on the Hong Kong Stock Exchange, is governed by a board that includes executive and independent non-executive directors. The company’s leadership, chaired...
Zengame Ties 2024 Share Option Grants to Long-Term Profit Targets
Jun 26, 2026
Zengame Technology Holding Ltd. has proposed grants under its 2024 share scheme, issuing a total of 60,000,000 share options and 20, , , , , share awards to senior management and 87 other employees, including executive directors Ye Sheng and Yang ...
Zengame Shareholders Approve Dividend, Board Mandates at AGM
May 22, 2026
Zengame Technology Holding Ltd. reported that all resolutions at its 22 May 2026 annual general meeting were approved by shareholders, including the adoption of the 2025 audited financial statements and the declaration of a final dividend of HK$0....
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.