CMGE Technology Faces Financial Impairments Amidst Gaming Market Challenges
CMGE Technology Group Limited (HK:0302) announced significant financial impairments totaling RMB255.53 million during the 2024 reporting period, attributed to challenges in the mobile gaming market. This includes RMB175.8 million from delayed payments and RMB79.73 million from a failed game development agreement. The stock currently holds a Hold rating with a price target of HK$0.50. CMGE focuses on mobile gaming and collaborates with third-party publishers for revenue generation.
Meet Your ETF AI Analyst
- Discover how TipRanks' ETF AI Analyst can help you make smarter investment decisions
- Explore ETFs TipRanks' users love and see what insights the ETF AI Analyst reveals about the ones you follow.
CMGE Technology Group Limited ( (HK:0302) ) has provided an announcement.
CMGE Technology Group Limited announced impairments in trade receivables and financial assets during the 2024 reporting period, reflecting challenges in the mobile gaming market. The company recognized a significant impairment of RMB175.8 million due to delayed payments from third-party publishing channels and RMB79.73 million from a failed game development agreement, highlighting industry-wide financial pressures and operational risks.
The most recent analyst rating on (HK:0302) stock is a Hold with a HK$0.50 price target. To see the full list of analyst forecasts on CMGE Technology Group Limited stock, see the HK:0302 Stock Forecast page.
More about CMGE Technology Group Limited
CMGE Technology Group Limited is a company incorporated in the Cayman Islands, primarily focused on the mobile gaming industry. The company collaborates with third-party publishing channels to promote its licensed games and collect revenue from in-game purchases.
Average Trading Volume: 7,465,637
Technical Sentiment Signal: Sell
Current Market Cap: HK$1.15B
Learn more about 0302 stock on TipRanks’ Stock Analysis page.
