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Vobile Group
(3738)
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Rating:47Neutral
Price Target:
HK$2.00
▼(-20.00% Downside)
Action:Reiterated
Date:10/31/26
The score is held back primarily by weak technicals (price below all key moving averages with negative MACD) and elevated fundamental execution risk (sharp 2025 revenue decline and historically inconsistent cash flow), partially offset by still-positive margins, manageable leverage, and a neutral-to-moderate P/E.
Positive Factors
Positive Margins
Positive gross and net margins show that Vobile’s software and content-protection offerings can generate earnings after operating costs. Margin stability versus 2024 provides some evidence of underlying operating discipline, although future durability depends on restoring revenue scale.
Negative Factors
Severe Revenue Decline
An 86% annual revenue contraction is a major fundamental warning because it can reduce operating scale, weaken customer and market confidence, and make current margins less representative. Until growth recovers, the company’s earnings power and ability to fund investment remain difficult to underwrite.
Read all positive and negative factors
Positive Factors
Negative Factors
Positive Margins
Positive gross and net margins show that Vobile’s software and content-protection offerings can generate earnings after operating costs. Margin stability versus 2024 provides some evidence of underlying operating discipline, although future durability depends on restoring revenue scale.
Read all positive factors
Vobile Group (3738) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$5.86B
Dividend YieldN/A
Average Volume (3M)21.08M
Price to Earnings (P/E)20.6
Beta (1Y)1.53
Revenue Growth20.34%
EPS Growth27.46%
CountryHK
Employees581
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)0.11
Shares Outstanding2,594,310,800
10 Day Avg. Volume18,925,700
30 Day Avg. Volume21,077,250
Financial Highlights & Ratios
PEG Ratio2.27
Price to Book (P/B)3.27
Price to Sales (P/S)3.68
P/FCF Ratio693.94
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
HK$5.03Price Target Upside101.33% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering3
EPS Forecast (FY)0.14
Revenue Forecast (FY)HK$3.70B
Vobile Group Business Overview & Revenue Model
Company Description
Vobile Group Limited operates as an investment holding company, supplying Software-as-a-Service (SaaS) solutions across various global markets, including the United States, Japan, and Mainland China. The company's core business involves online vid...
How the Company Makes Money
Vobile makes money primarily by selling technology solutions that help customers protect, manage, and monetize digital video content. Revenue is generated through (1) content protection and rights management services, where customers pay for the u...
Vobile Group Financial Statement Overview
Summary
Income Statement
56
Neutral
Balance Sheet
58
Neutral
Cash Flow
44
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 3.22B | 2.87B | 2.40B | 2.00B | 1.44B | 686.53M |
| Gross Profit | 1.45B | 1.29B | 1.05B | 850.16M | 590.71M | 348.77M |
| EBITDA | 586.44M | 510.85M | 413.42M | 275.14M | 271.54M | 28.75M |
| Net Income | 287.99M | 199.31M | 142.73M | -7.82M | 42.00M | -22.68M |
Balance Sheet | ||||||
| Total Assets | 6.49B | 6.26B | 3.92B | 3.51B | 3.26B | 1.77B |
| Cash, Cash Equivalents and Short-Term Investments | 906.72M | 1.17B | 220.29M | 240.04M | 226.50M | 496.87M |
| Total Debt | 1.92B | 2.03B | 1.02B | 696.48M | 1.13B | 24.26M |
| Total Liabilities | 2.63B | 2.81B | 1.62B | 1.37B | 1.59B | 233.83M |
| Stockholders Equity | 3.64B | 3.23B | 2.10B | 1.95B | 1.49B | 1.54B |
Cash Flow | ||||||
| Free Cash Flow | -11.24M | 15.23M | -220.83M | -100.01M | -67.48M | -75.06M |
| Operating Cash Flow | 170.21M | 20.86M | 4.14M | 110.07M | 37.61M | -8.77M |
| Investing Cash Flow | -1.01B | -904.87M | -254.61M | -213.86M | -1.03B | -164.66M |
| Financing Cash Flow | 1.16B | 1.84B | 257.60M | 138.98M | 713.55M | 398.71M |
Vobile Group Technical Analysis
Negative
2.50
Price Trends
2.94
Negative
2.68
Negative
3.35
Negative
Market Momentum
-0.18
Positive
33.48
Neutral
11.29
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:3738, the sentiment is Negative. The current price of 2.5 is below the 20-day moving average (MA) of 2.80, below the 50-day MA of 2.94, and below the 200-day MA of 3.35, indicating a bearish trend. The MACD of -0.18 indicates Positive momentum. The RSI at 33.48 is Neutral, neither overbought nor oversold. The STOCH value of 11.29 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for HK:3738.
Vobile Group Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
73 Outperform | HK$18.20B | 9.59 | 13.11% | ― | 5.99% | -34.42% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
56 Neutral | HK$18.67B | -5.58 | -7.08% | ― | 35.32% | 74.56% | |
54 Neutral | HK$2.98B | -13.45 | -2.55% | 1.70% | -2.82% | -152.77% | |
47 Neutral | HK$5.86B | 20.60 | 8.39% | ― | 20.34% | 27.46% | |
47 Neutral | HK$46.69B | 132.06 | 1.09% | ― | 31.42% | ― | |
45 Neutral | HK$12.08B | 61.05 | 1.93% | ― | 41.91% | ― |
* Technology Sector Average
HK:3738
Vobile Group
2.28
-2.91
-56.07%
HK:1675
AsiaInfo Technologies Limited
3.17
-5.76
-64.48%
HK:9899
NetEase Cloud Music Inc.
89.55
-151.25
-62.81%
HK:0020
SenseTime Group, Inc. Class B
1.11
-1.27
-53.38%
HK:3896
Kingsoft Cloud Holdings Ltd
4.12
-2.39
-36.71%
HK:6682
Beijing Fourth Paradigm Technology Co. Ltd. Class H
21.64
-34.11
-61.18%
Vobile Group Corporate Events
Vobile Group Completes HK$530 Million Convertible Bond Issue to Refinance Debt
Oct 27, 2026
Vobile Group Limited has completed the issuance of HK$530 million 3.75 per cent convertible bonds due 2027 under its general mandate, with the bonds listed on the Vienna MTF operated by the Vienna Stock Exchange. The bonds were placed with at leas...
Vobile Group to Raise HK$530 Million via 3.75% Convertible Bonds Due 2027
Oct 20, 2026
Vobile Group has agreed to issue HK$530 million of 3.75 per cent convertible bonds due 2027 under its existing general mandate, with a sole global coordinator arranging the subscription. The bonds are initially convertible at HK$3.02 per share, im...
Vobile Completes On Sun International Acquisition via Share Issuance
Oct 20, 2026
Vobile Group Limited has completed its acquisition of the entire issued share capital of On Sun International Limited, turning the target into an indirect wholly owned subsidiary. The transaction was settled through the issuance and allotment of n...
Vobile Group to Acquire Target Company in HK$75 Million Share-Funded Deal
Oct 9, 2026
Vobile Group Limited has agreed, via its wholly owned subsidiary Vobile Investment Holdings Limited, to acquire the entire issued share capital of an independent target company for HK$75 million. The consideration will be settled through the allot...
Vobile Fully Redeems HK$1.46 Billion Convertible Bonds, Eliminating Dilution Risk
Sep 28, 2026
Vobile Group Limited has completed the full redemption of its zero coupon convertible bonds due 2026, repurchasing the outstanding principal amount of HK$1.458 billion together with all accrued and unpaid interests and fees. Following this transac...
Vobile launches SeeBay platform to drive AI content creation and global IP monetization
Sep 21, 2026
Vobile Group Limited has launched SeeBay, a one-stop platform designed to support AI content creation and global IP monetization, marking a strategic move to deepen its role in the digital media and rights-management value chain. Since its officia...
Vobile Group Partners with Ant Digital to Build AI Copyright Model
Sep 11, 2026
Vobile Group has announced that one of its subsidiaries has entered into a collaboration agreement with Ant Blockchain Technology, the technology commercialisation arm of Ant Group. The partners intend to build a copyright-focused large AI model d...
Vobile Secures Brunei AI Data Centre Capacity to Power Expansion of Content Platform
Sep 3, 2026
Vobile Group has signed strategic partnership and commercial agreements via a subsidiary with Unified National Networks of Brunei Darussalam to secure 25MW of AI-ready, liquid-cooled, high-power-density data centre capacity. This infrastructure wi...
Vobile Group’s AI Push Drives Surge in Interim Profit and New Copyright RWA Project
Aug 27, 2026
Vobile Group reported strong interim results for the six months ended 30 June 2026, as AI content services moved from planning to commercial execution and boosted its core rights management operations. Revenue climbed 24% year on year to HK$1.81 b...
Vobile Group Sets Board Meeting to Approve 2026 Interim Results and Consider Dividend
Aug 13, 2026
Vobile Group has scheduled a board meeting for 28 August 2026 to review and approve the interim financial results for the six months ended 30 June 2026. The board will also consider the declaration of an interim dividend and address other corporat...
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.