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Archosaur Games Inc (9990) Fair Value & Analysis

Communication Services · HK · Market cap HK$1.6B

AG Archosaur Games Inc 9990 · HK
PriceHK$2.00
Fair ValueHK$0.4700
Upside-76.5%
Quality54/100
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Weak Growth
Loss-making · -2.8% net margin
Low debt · negative free cash flow
Trails peers (3/10)
Narrow moat 3/100
Evidence: Low Range HK$0.4500 – HK$0.5000 Share as image

Fair value as of: Aug 13, 2026

From 1 valuation models · updated 3 days ago

Share price −3.8% over the past month.

A solid business, but screening 77% overvalued on our models.

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What matters now

  • The price sits above even our optimistic bull case (HK$0.5000). The favourable scenario is already priced in.
  • The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
  • Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
  • The models converge in a tight band (HK$0.4500 to HK$0.5000), unusually little disagreement for a valuation.
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Price vs Fair Value (5 years)

HK$15.99 HK$1.05 Fair Value HK$0.4700 Mar 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.

How to read this chart

60‑month range HK$1.05 – HK$15.99 · fair‑value band HK$0.4500 – HK$0.5000 · the HK$2.00 price screens above the HK$0.4700 fair value. Dashed = 300-day average. As of Aug 13, 2026.

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Analysis

Archosaur Games Inc (9990) currently trades at HK$2.00, while our model-based Fair Value estimate is HK$0.4700, implying the stock looks roughly 76.5% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Communication Services sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: low).

Over the trailing twelve months, Archosaur Games Inc generated revenue of HK$1.3B at a net margin of -2.8%. Revenue declined 4.5% year over year. It earns a return on equity of -1.8%. The balance sheet holds a net cash position of HK$151M. Fundamentals as of Aug 13, 2026

Our scenario range runs from HK$0.4500 (bear case) to HK$0.5000 (bull case); at HK$2.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 31% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Communication Services peers we cover trades at -25% fair-value upside, at -77%, 9990 screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model Bear Bear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull Bull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. Evidence
Highest evidence
NCAV (Graham) HK$1.26 HK$1.69 HK$2.52 50
All 1 models by family
Asset-Based
NCAV (Graham) HK$1.26 HK$1.69 HK$2.52 50

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Key figures & financial health

Revenue (TTM) HK$1.3B
Revenue growth (YoY) -4.5%
Net margin -2.8%
Return on equity -1.8%
Free cash flow −HK$73.2M FY2025
Operating margin -13.9%
More key figures
EPS (TTM) HK$-0.0100
EPS growth (YoY) -93.8%
Net cash HK$151M FY2025

Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 54/100

Of which business quality 53 · Market factors (momentum, volatility) 40

Profitability 24
Margins and returns on capital today
Quality Growth 75
Are margins and returns improving?
Cashflow 22
Earnings quality: real cash, not paper profit
Fin. Strength 59
Balance sheet, leverage, solvency risk
Investment 100
Disciplined investing over empire-building
Low Volatility 20
Calm price path (market factor)
Momentum 52
Price trend over the last 3–12 months (market factor)
52W Momentum 43
Distance to the 52-week high (market factor)
Net Issuance 79
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

Archosaur Games Inc., an investment holding company, develops and operates mobile games in Mainland China and internationally. The company primarily focuses on developing massively multiplayer online role-playing, female-oriented, strategy cards, idle RPG, simulation, and other genre games. Archosaur Games Inc.

Full company description

Archosaur Games Inc., an investment holding company, develops and operates mobile games in Mainland China and internationally. The company primarily focuses on developing massively multiplayer online role-playing, female-oriented, strategy cards, idle RPG, simulation, and other genre games. Archosaur Games Inc. was founded in 1997 and is based in Beijing, the People's Republic of China.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Archosaur Games Inc reported revenue of HK$1.3B in FY2025 versus HK$921M in FY2021, a compound +9.1%/yr. Reported net income was −HK$36.7M in FY2025.

Growth Quality 14/100
Revenue growth is weak, negative or inconsistent.
Latest Revenue (FY 2025)
HK$1.3B
Latest YoY
+14.3%
Avg. growth/yr (3Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+30.7%
Avg. growth/yr (5Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+1.5%
Avg. growth/yr (8Y) Measures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump.
+0.0%
Revenue +9.1%/yr
FY21 HK$921M
FY22 HK$584M
FY23 HK$908M
FY24 HK$1.1B
FY25 HK$1.3B
Net income
FY21 −HK$303M
FY22 −HK$769M
FY23 −HK$316M
FY24 −HK$287M
FY25 −HK$36.7M

9990 screens 77% overvalued. Compare with NetEase, Inc →

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Cite: Fair Value Calculator (2026). "Archosaur Games Inc Fair Value". https://www.fairvalue-calculator.com/stock/9990

Peer Group

Electronic Gaming & Multimedia · 155 stocks

How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.

Quality Score 54 · Below median
Fair Value upside −77% · Bottom 25%
Return on assets -4% · Bottom 25%
Net margin (TTM) -3% · Below median
Operating margin (TTM) -14% · Bottom 25%
Revenue growth -5% · Below median

Valuation Multiples vs Electronic Gaming & Multimedia median · lower = cheaper

P/B 0.10× · Cheaper than 75% of peers
P/S (TTM) 0.16× · Cheaper than 75% of peers

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 21
FUTURE 0 · sector 7
PAST 0 · sector 9
HEALTH 100 · sector 99
DIVIDEND 0 · sector 54

VALUE 0: the price sits above our fair-value range.

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Electronic Gaming & Multimedia stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).

Stock Price Fair Value vs Fair Value
NetEase, Inc 9999 HK$192.50 HK$262.75 +36%
Electronic Arts Inc EA $209.70 $76.57 -63%
Take-Two Interactive Software, Inc TTWO $243.00 $60.20 -75%
Roblox Corporation RBLX $36.22 $21.20 -41%
Zhejiang Century Huatong Group 002602 ¥14.29 ¥14.68 +3%
KRAFTON, Inc 259960 234,500 KRW 356,218 KRW +52%
Giant Network Group 002558 ¥28.57 ¥15.50 -46%
International Games System Co 3293 762.00 TWD 568.16 TWD -25%
37 Interactive Entertainment Network Technology Group 002555 ¥19.21 ¥22.29 +16%
Kingnet Network Co 002517 ¥17.36 ¥12.86 -26%

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Frequently asked questions

Is Archosaur Games Inc (9990) overvalued or undervalued?
As of Aug 13, 2026, our model estimates a fair value of HK$0.4700 versus a price of HK$2.00, about −77% (overvalued).
What is the fair value of 9990?
Our model-based fair value for Archosaur Games Inc is HK$0.4700 (as of Aug 13, 2026), built from audited fundamentals. The current price is HK$2.00.
What is the quality score of 9990?
Archosaur Games Inc has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the revenue of Archosaur Games Inc (9990)?
Archosaur Games Inc reported trailing-twelve-month revenue of about HK$1.3B (latest available figure, as of Aug 13, 2026).
What is the net profit margin of 9990?
The net profit margin of Archosaur Games Inc is about -2.8%, meaning it is currently running at a net loss. Based on the latest reported figures.

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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