---
title: "贪玩 (09890.HK)"
type: "quote"
locale: "en"
url: "https://longbridge.com/en/quote/09890.HK.md"
symbol: "09890.HK"
name: "贪玩"
industry: "电子游戏与多媒体"
---

# 贪玩 (09890.HK)

| Item | Detail |
|------|--------|
| Industry | 电子游戏与多媒体 |
| Location | 港股市场 |
| Website | [www.tanwan.cn](https://www.tanwan.cn) |

## Company Profile

Tanwan Inc(原名:ZX Inc) 是一家主要从事游戏产品的营销及运营的控股公司。该公司主要通过 “贪玩游戏” 品牌发行并运营由客户开发的网络游戏。该公司也从事网络文学产品和短视频的营销业务。该公司还从事消费品业务，主要包括米粉产品以及 “渣渣灰” 品牌的其他速食产品的销售。该公司的主要产品包括 “传奇”、“奇迹” 和 “热血江湖” 等。该公司在国内和国外市场开展业务。

## Financial Score

> *Longbridge Financial Score™ — Proprietary multi-factor rating model by [Longbridge](https://longbridge.com). This score is independently calculated by Longbridge and is not affiliated with any third-party rating agency.*
> Updated: 2026-02-21T04:30:11.000Z

**Overall: C (0.43)**

**Industry**: Interactive Home Entertainment

| Metric | Value |
|--------|-------|
| Industry Ranking | 10 / 27 |
| Industry Median | C |
| Industry Average | C |

- **Style**: Blend - Stocks in which the company has both growth and mature businesses.
- **Scale**: Small - The company's operation has a high degree of growth and volatility, making it easy to achieve high investment returns.

### Score Analysis

**Style Score**: 

#### Growth Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -31.15% |  |
| Net Profit YoY | 332.28% |  |

#### Value Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| P/B Ratio | 3.11 |  |
| Dividend Ratio | 0.00% |  |


**Size Score**: 

#### Market Cap Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Market Cap | 10.88B |  |

#### Revenue Score: 

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue | 4.73B |  |


**Multi Score**: C

#### Profit Score: A

| Indicator | Value | Rating |
|-----------|-------|--------|
| ROE | 38.33% | A |
| Profit Margin | 22.51% | A |
| Gross Margin | 60.54% | A |

#### Growth Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| Revenue YoY | -31.15% | E |
| Net Profit YoY | 332.28% | A |
| Total Assets YoY | -7.04% | D |
| Net Assets YoY | 74.85% | A |

#### Cash Score: D

| Indicator | Value | Rating |
|-----------|-------|--------|
| Cash Flow Margin | 444.21% | C |
| OCF YoY | -31.15% | E |

#### Operating Score: B

| Indicator | Value | Rating |
|-----------|-------|--------|
| Turnover | 0.73 | B |

#### Debt Score: C

| Indicator | Value | Rating |
|-----------|-------|--------|
| Gearing Ratio | 42.71% | C |


```chart-data:radar
{
  "title": "Longbridge Financial Score - 贪玩",
  "chart_type": "radar",
  "dimensions": [
    {
      "name": "Profit",
      "grade": "A",
      "indicators": [
        {
          "name": "ROE",
          "value": "38.33%",
          "rating": "A"
        },
        {
          "name": "Profit Margin",
          "value": "22.51%",
          "rating": "A"
        },
        {
          "name": "Gross Margin",
          "value": "60.54%",
          "rating": "A"
        }
      ]
    },
    {
      "name": "Growth",
      "grade": "D",
      "indicators": [
        {
          "name": "Revenue YoY",
          "value": "-31.15%",
          "rating": "E"
        },
        {
          "name": "Net Profit YoY",
          "value": "332.28%",
          "rating": "A"
        },
        {
          "name": "Total Assets YoY",
          "value": "-7.04%",
          "rating": "D"
        },
        {
          "name": "Net Assets YoY",
          "value": "74.85%",
          "rating": "A"
        }
      ]
    },
    {
      "name": "Cash",
      "grade": "D",
      "indicators": [
        {
          "name": "Cash Flow Margin",
          "value": "444.21%",
          "rating": "C"
        },
        {
          "name": "OCF YoY",
          "value": "-31.15%",
          "rating": "E"
        }
      ]
    },
    {
      "name": "Operating",
      "grade": "B",
      "indicators": [
        {
          "name": "Turnover",
          "value": "0.73",
          "rating": "B"
        }
      ]
    },
    {
      "name": "Security",
      "grade": "C",
      "indicators": [
        {
          "name": "Gearing Ratio",
          "value": "42.71%",
          "rating": "C"
        }
      ]
    }
  ]
}
```

### Peer Comparison

| Rank | Name | Profit | Growth | Operation | Security | Cash | Rating |
|------|------|--------|--------|-----------|----------|------|--------|
| 01 | 心动公司 (HK.2400) | A | A | A | B | B | A |
| 02 | 望尘科技控股 (HK.2458) | A | A | A | C | B | A |
| 03 | 网易-S (HK.9999) | A | B | C | B | C | B |
| 04 | IGG (HK.799) | A | C | A | B | B | B |
| 05 | 博雅互动 (HK.434) | A | B | D | A | C | B |

## Valuation Analysis

| Metric | Current | Industry Ranking | High | Median | Low |
|--------|---------|-----------------|------|--------|-----|
| PE (TTM) | 10.12 | 5/27 | 9.06 | 7.60 | 6.90 |
| PB | 3.11 | 22/27 | 2.88 | 2.26 | 2.00 |
| PS (TTM) | 2.28 | 18/27 | 1.75 | 1.44 | 0.80 |
| Dividend Yield | 0.00% | - | - | - | - |

## References

- [Company Overview](https://longbridge.com/en/quote/09890.HK/overview.md) - Shareholders, executives, business segments
- [Financials](https://longbridge.com/en/quote/09890.HK/norm.md) - Income statement, balance sheet, cash flow, distribution plan
- [Topics & Discussions](https://longbridge.com/en/quote/09890.HK/topics.md) - Community topics and discussions

---

> **Disclaimer**: This article is for reference only and does not constitute any investment advice.