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Activation Group Holdings Ltd.
(9919)
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Rating:65Neutral
Price Target:
HK$0.82
▲(6.75% Upside)
Action:Reiterated
Date:08/04/26
The score is driven mainly by mixed financial performance: strong balance-sheet quality and historically solid profitability are weighed down by the latest year’s revenue contraction and negative cash flow. Valuation is a key positive (low P/E and high dividend yield), while technicals remain a notable headwind with the stock trading below major moving averages and negative MACD.
Positive Factors
Conservative balance sheet
Very low leverage limits financial strain and preserves flexibility for operating needs, investment, or shareholder returns. The sizable equity base provides a durable solvency buffer if marketing demand remains uneven.
Negative Factors
Persistent recent revenue contraction
Two consecutive years of declining revenue indicate weakening demand, client budgets, or project volume rather than a single-period fluctuation. Prolonged contraction could reduce operating leverage and pressure the company’s ability to sustain earnings.
Read all positive and negative factors
Positive Factors
Negative Factors
Conservative balance sheet
Very low leverage limits financial strain and preserves flexibility for operating needs, investment, or shareholder returns. The sizable equity base provides a durable solvency buffer if marketing demand remains uneven.
Read all positive factors
Activation Group Holdings Ltd. (9919) vs. iShares MSCI Hong Kong ETF (EWH)
Market Cap
HK$580.90M
Dividend Yield7.05%
Average Volume (3M)232.55K
Price to Earnings (P/E)7.4
Beta (1Y)0.45
Revenue Growth-16.61%
EPS Growth-18.68%
CountryHK
Employees208
SectorCommunication Services
Sector Strength97
IndustryAdvertising Agencies
Share Statistics
EPS (TTM)0.09
Shares Outstanding744,742,000
10 Day Avg. Volume465,634
30 Day Avg. Volume232,554
Financial Highlights & Ratios
PEG Ratio-1.05
Price to Book (P/B)2.07
Price to Sales (P/S)1.00
P/FCF Ratio-94.50
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)0.15
Revenue Forecast (FY)HK$1.03B
Activation Group Holdings Ltd. Business Overview & Revenue Model
Company Description
Activation Group Holdings Limited operates as an investment holding company, delivering comprehensive marketing solutions primarily across Mainland China, Hong Kong, and Singapore. The firm structures its operations into three core segments: Exper...
How the Company Makes Money
Activation Group Holdings Ltd. primarily makes money by providing marketing and advertising services to clients and charging fees tied to the scope of work for specific campaigns or ongoing service arrangements. Key revenue streams generally inclu...
Activation Group Holdings Ltd. Financial Statement Overview
Summary
Income Statement
62
Positive
Balance Sheet
84
Very Positive
Cash Flow
46
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 678.29M | 707.39M | 847.75M | 967.23M | 694.81M | 904.06M |
| Gross Profit | 190.68M | 207.58M | 254.27M | 298.22M | 202.24M | 267.28M |
| EBITDA | 70.32M | 83.88M | 125.65M | 170.39M | 42.03M | 137.21M |
| Net Income | 66.54M | 76.00M | 79.24M | 107.99M | 23.63M | 92.49M |
Balance Sheet | ||||||
| Total Assets | 609.33M | 659.69M | 745.91M | 795.40M | 711.25M | 716.24M |
| Cash, Cash Equivalents and Short-Term Investments | 298.81M | 298.83M | 379.19M | 307.08M | 300.27M | 408.67M |
| Total Debt | 6.88M | 8.24M | 7.80M | 6.58M | 9.60M | 8.74M |
| Total Liabilities | 271.32M | 299.59M | 384.76M | 435.43M | 357.66M | 286.83M |
| Stockholders Equity | 321.86M | 342.88M | 341.36M | 339.77M | 336.31M | 406.31M |
Cash Flow | ||||||
| Free Cash Flow | 28.29M | -7.50M | 167.65M | 113.71M | 57.82M | 171.11M |
| Operating Cash Flow | 28.42M | -6.84M | 169.61M | 115.12M | 61.00M | 175.36M |
| Investing Cash Flow | -118.13K | 1.98M | -278.00K | -504.00K | -38.71M | 347.00K |
| Financing Cash Flow | -19.78M | -72.96M | -97.71M | -103.97M | -127.44M | -68.91M |
Activation Group Holdings Ltd. Technical Analysis
Neutral
0.77
Price Trends
0.77
Positive
0.80
Negative
0.88
Negative
Market Momentum
<0.01
Negative
53.06
Neutral
73.86
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For HK:9919, the sentiment is Neutral. The current price of 0.77 is above the 20-day moving average (MA) of 0.77, below the 50-day MA of 0.77, and below the 200-day MA of 0.88, indicating a neutral trend. The MACD of <0.01 indicates Negative momentum. The RSI at 53.06 is Neutral, neither overbought nor oversold. The STOCH value of 73.86 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral sentiment for HK:9919.
Activation Group Holdings Ltd. Peers Comparison
UnderperformOutperform
Sector (60)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
70 Outperform | HK$139.05M | 22.62 | 2.61% | ― | 17.40% | 175.00% | |
65 Neutral | HK$580.90M | 7.42 | 20.02% | 7.05% | -16.61% | -18.68% | |
63 Neutral | HK$17.15B | 25.70 | 23.78% | 2.16% | 25.61% | 95.27% | |
60 Neutral | $48.67B | 4.58 | -11.27% | 4.14% | 2.83% | -41.78% | |
56 Neutral | HK$1.24B | 755.83 | 3.06% | 3.86% | -1.69% | -73.57% | |
46 Neutral | HK$234.30M | 21.50 | -47.52% | 23.70% | 1.67% | ― | |
39 Underperform | HK$3.17B | -58.39 | -15.14% | ― | 95.63% | 29.44% |
* Communication Services Sector Average
HK:9919
Activation Group Holdings Ltd.
0.78
-0.17
-18.16%
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4.54
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681.90%
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376.19%
Activation Group Holdings Ltd. Corporate Events
Activation Group Sets Board Meeting to Approve 2026 Interim Results and Dividend
Jul 28, 2026
Activation Group Holdings Limited has scheduled a board meeting for 24 August 2026 to review and approve the interim results for the six months ended 30 June 2026 for the company and its subsidiaries. The board will also consider the potential dec...
Activation Group Wins Shareholder Backing for Dividends and Capital Mandates at AGM
May 21, 2026
Shareholders of Activation Group Holdings Limited approved all resolutions at the annual general meeting held on 21 May 2026, including the adoption of the audited financial statements for the year ended 31 December 2025. They also backed the decl...
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.