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CMGE Technology Group Ltd 00302

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Stock XHKG Rating as of
HKD 1.08 −0.01 (0.92%)
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As of Delayed Price Open
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Company Report

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CMGE Is Going All In on Legend of Sword and Fairy: World

Ivan Su

CMGE is one of the earliest Chinese game companies focusing on intellectual property, being the first to bring Disney and Toei IPs into China. As of the end of 2022, CMGE holds a large number of intellectual property, or IP, on mobile games. We think that games with well-known IPs should attract some players, at least at the initial launch, because these titles already have their own loyal fan following whether they are based on films, TVs, or novels.

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Price vs Fair Value

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00302 is trading at a 562% premium.
Price
HKD 1.09
Fair Value
HKD 3.50
Uncertainty
High
1-Star Price
HKD 9.17
5-Star Price
HKD 1.99
Economic Moat
Zxyp
Capital Allocation
Pcwpjlf

Bulls Say, Bears Say

Bulls

CMGE was one of the first game companies to announce a metaverse project based on its legacy Sword and Fairy franchise.

Bears

The lack of a strong game development track record remains an overhang on the durability of CMGE’s current business model.

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Trading Information

Previous Close Price
HKD 1.09
Day Range
HKD 1.08–1.11
52-Week Range
HKD 0.95–2.16
Bid/Ask
HKD 1.08 / HKD 1.09
Market Cap
HKD 2.97 Bil
Volume/Avg
6.3 Mil / 29.3 Mil

Key Statistics

Price/Earnings (Normalized)
61.49
Price/Sales
1.04
Dividend Yield (Trailing)
—
Dividend Yield (Forward)
—
Total Yield
—

Company Profile

CMGE is an IP-based mobile game developer and publisher in China with 55 licensed IPs and 68 proprietary IPs as of the end of 2021. The company has over 80 games on the shelf and over 20 games with lifecycles of over three years. Average monthly active users, or MAUs, of CMGE games reached 19.1 million in 2021. The market share of CMGE for online gaming grossing income in 2021 was around 1%.
Sector
Communication Services
Industry
Electronic Gaming & Multimedia
Stock Style Box
Small Value
Total Number of Employees
832
Website
https://www.cmge.com

Competitors

Valuation

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Metric
00302
NTES
00700
Price/Earnings (Normalized)
 61.4913.0720.80
Price/Book Value
 0.483.333.84
Price/Sales
 1.044.085.44
Price/Cash Flow
 11.3312.1417.31
Price/Earnings
00302
NTES
00700

Financial Strength

Metric
00302
NTES
00700
Quick Ratio
 1.242.371.30
Current Ratio
 1.712.531.47
Interest Coverage
 −0.39—13.41
Quick Ratio
00302
NTES
00700

Profitability

Metric
00302
NTES
00700
Return on Assets (Normalized)
 0.08%14.59%10.08%
Return on Equity (Normalized)
 0.09%22.05%20.37%
Return on Invested Capital (Normalized)
 0.21%15.46%12.97%
Return on Assets
00302
NTES
00700
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