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Changyou Alliance Group Limited logo

Changyou Alliance Group Limited

1039.HK

HKSEConsumer CyclicalSpecialty Retail

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Latest quote

HK$0.049

+HK$0.004 · +8.89%

Aug 24, 3:39 PM HKT

1039.HK company overview

Regular session · HKT · Market data may be delayed.

Company profile

Company website

As an investment holding company, Changyou Alliance Group Limited is primarily involved in the digital points industry across the People's Republic of China. The firm runs the "Changyou electronic platform," a system designed to enable customers to transform loyalty rewards, accrued from various third-party programs, into digital assets or credits. These digital entitlements can subsequently be utilized for acquiring merchandise, accessing games, subscribing to services, and facilitating other commercial activities. Additionally, the company provides trading services for goods, alongside dedicated points redemption and cashier solutions. Established in 2001, Changyou Alliance Group Limited, which adopted its current name in June 2020 from its prior designation as Fortunet e-Commerce Group Limited, maintains its headquarters in Wan Chai, Hong Kong.

Industry
Specialty Retail
Sector
Consumer Cyclical
Headquarters
HK
CEO
Jerome Cheng
Listed since
Sep 24, 2010
Employees
49

Market position

Day range

Current HK$0.049

52-week range

Current HK$0.049

Open
HK$0.05
Previous close
HK$0.045
Volume
40K
0.13× average
Average volume
306.73K
Average daily volume
Market cap
88.74M HKD
Beta
0.98
Market reference 1
50-day average
HK$0.0484
+1.20% above average
200-day average
HK$0.0523
-6.35% below average

Financials

Financial snapshot

Latest / TTM

Valuation & yield

Enterprise value
226.44M CNY
P/E (TTM)
-4.71×
P/B (TTM)
0.35×
P/S (TTM)
0.4×
EV / EBITDA
26.83×
Earnings yield
-19.01%
Free cash flow yield
36.66%
Dividend yield
0.00%

Profitability & efficiency

Gross margin
22.83%
Operating margin
5.56%
Net margin
-8.37%
Return on equity
-7.32%
Return on assets
-10.80%
Return on invested capital
76.15%

Financial health

Debt / equity
0.8×
Current ratio
1.08×

Financial statements

Margin trends

Profitability as a percentage of reported revenue.

Gross marginOperating marginNet margin
Gross, operating, and net margin trends34%-11%-56%-101%Gross margin, FY2021: 11.10%Gross margin, FY2022: 13.15%Gross margin, FY2023: 17.32%Gross margin, FY2024: 21.73%Gross margin, FY2025: 22.83%Operating margin, FY2021: -89.71%Operating margin, FY2022: -10.48%Operating margin, FY2023: -1.72%Operating margin, FY2024: -1.34%Operating margin, FY2025: 5.56%Net margin, FY2021: -43.31%Net margin, FY2022: -16.15%Net margin, FY2023: -16.57%Net margin, FY2024: -10.80%Net margin, FY2025: -8.37%FY2021FY2022FY2023FY2024FY2025
Gross margin FY2021 11.10%. Gross margin FY2022 13.15%. Gross margin FY2023 17.32%. Gross margin FY2024 21.73%. Gross margin FY2025 22.83%. Operating margin FY2021 -89.71%. Operating margin FY2022 -10.48%. Operating margin FY2023 -1.72%. Operating margin FY2024 -1.34%. Operating margin FY2025 5.56%. Net margin FY2021 -43.31%. Net margin FY2022 -16.15%. Net margin FY2023 -16.57%. Net margin FY2024 -10.80%. Net margin FY2025 -8.37%.

Income trends

Revenue

192.09M CNY+6.30%

Operating income

10.69M CNY+13.1M CNY

Net income

−16.08M CNY+17.59%
Income trends across reported periods259.67M CNY127.99M CNY−3.7M CNY−135.39M CNYRevenue, FY2021: 114.21M CNYRevenue, FY2022: 215.04M CNYRevenue, FY2023: 226.75M CNYRevenue, FY2024: 180.71M CNYRevenue, FY2025: 192.09M CNYOperating income, FY2021: −102.46M CNYOperating income, FY2022: −22.53M CNYOperating income, FY2023: −3.9M CNYOperating income, FY2024: −2.41M CNYOperating income, FY2025: 10.69M CNYNet income, FY2021: −49.47M CNYNet income, FY2022: −34.73M CNYNet income, FY2023: −37.56M CNYNet income, FY2024: −19.52M CNYNet income, FY2025: −16.08M CNYFY2021FY2022FY2023FY2024FY2025
Revenue FY2021 114.21M CNY. Revenue FY2022 215.04M CNY. Revenue FY2023 226.75M CNY. Revenue FY2024 180.71M CNY. Revenue FY2025 192.09M CNY. Operating income FY2021 −102.46M CNY. Operating income FY2022 −22.53M CNY. Operating income FY2023 −3.9M CNY. Operating income FY2024 −2.41M CNY. Operating income FY2025 10.69M CNY. Net income FY2021 −49.47M CNY. Net income FY2022 −34.73M CNY. Net income FY2023 −37.56M CNY. Net income FY2024 −19.52M CNY. Net income FY2025 −16.08M CNY.
Metric (CNY)FY2025FY2024FY2023FY2022FY2021
Revenue192.09M CNY180.71M CNY226.75M CNY215.04M CNY114.21M CNY
Cost of goods sold148.24M CNY141.44M CNY187.48M CNY186.77M CNY101.54M CNY
Gross profit43.85M CNY39.27M CNY39.27M CNY28.27M CNY12.67M CNY
Research and development6.36M CNY7.58M CNY9.74M CNY12.55M CNY38.98M CNY
Selling, general, and administrative30.23M CNY34.92M CNY36.02M CNY38.25M CNY76.16M CNY
Operating expenses33.16M CNY41.69M CNY43.17M CNY50.8M CNY116.37M CNY
Interest income10.71K CNY19K CNY24K CNY77K CNY56K CNY
Interest expense17.46M CNY12.87M CNY30.62M CNY28.01M CNY21.64M CNY
Depreciation and amortization453K CNY482K CNY2.66M CNY3.19M CNY9.26M CNY
Operating income10.69M CNY−2.41M CNY−3.9M CNY−22.53M CNY−102.46M CNY
Net income−16.08M CNY−19.52M CNY−37.56M CNY−34.73M CNY−49.47M CNY

Company facts updated Aug 24, 2026.

Earnings

Latest EPS result
-0.01

EPS: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly EPS actual values compared with estimates-0-0.02-0.04-0.06Q2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual -0.016, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual -0.017, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 30, 2022: actual -0.01, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 31, 2023: actual -0.012, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Sep 1, 2023: actual -0.01, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 28, 2024: actual -0.012, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 30, 2024: actual -0.004, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 28, 2025: actual -0.007, estimate —, surprise —, Comparison unavailable.

Revenue: actual versus estimate

Recent quarterly results

ActualEstimate
Estimates unavailable
Quarterly Revenue actual values compared with estimates165.53M123.57M81.61M39.65MQ2 '21Q4 '21Q3 '22Q1 '23Q3 '23Q1 '24Q3 '24Q1 '25
Q2 2021, reported Jun 30, 2021: actual 46.65M HKD, estimate —, surprise —, Comparison unavailable. Q4 2021, reported Dec 31, 2021: actual 92.27M HKD, estimate —, surprise —, Comparison unavailable. Q3 2022, reported Aug 30, 2022: actual 123.44M HKD, estimate —, surprise —, Comparison unavailable. Q1 2023, reported Mar 31, 2023: actual 124.82M HKD, estimate —, surprise —, Comparison unavailable. Q3 2023, reported Sep 1, 2023: actual 156.72M HKD, estimate —, surprise —, Comparison unavailable. Q1 2024, reported Mar 28, 2024: actual 90.57M HKD, estimate —, surprise —, Comparison unavailable. Q3 2024, reported Aug 30, 2024: actual 110M HKD, estimate —, surprise —, Comparison unavailable. Q1 2025, reported Mar 28, 2025: actual 83.27M HKD, estimate —, surprise —, Comparison unavailable.

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