Board Change • May 20
Less than half of directors are independent There is 1 new director who has joined the board in the last 3 years. The new board member was not an independent director. The company's board is composed of: 1 new director. 6 experienced directors. No highly experienced directors. 3 independent directors (4 non-independent directors). Independent Non Executive Director Lily Liu was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • Apr 30
XD Inc., Annual General Meeting, May 28, 2026 XD Inc., Annual General Meeting, May 28, 2026, at 10:30 China Standard Time. Location: unit a1, no. 700 wanrong road, shanghai China Announcement • Mar 17
XD Inc. to Report Fiscal Year 2025 Results on Mar 27, 2026 XD Inc. announced that they will report fiscal year 2025 results on Mar 27, 2026 Announcement • Aug 19
XD Inc. to Report First Half, 2025 Results on Aug 29, 2025 XD Inc. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • May 29
XD Inc. Approves Final Dividend for the Year Ended December 31, 2024 XD Inc. at its AGM held on May 29, 2025 approved final dividend of HKD 0.4 per ordinary share of the company for the year ended December 31, 2024. Announcement • Apr 29
XD Inc., Annual General Meeting, May 29, 2025 XD Inc., Annual General Meeting, May 29, 2025, at 10:30 China Standard Time. Location: unit a1, no. 700 wanrong road, shanghai China Announcement • Mar 18
XD Inc. to Report Q4, 2024 Results on Mar 28, 2025 XD Inc. announced that they will report Q4, 2024 results on Mar 28, 2025 New Risk • Sep 30
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 9.8% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (9.8% average weekly change). Shareholders have been diluted in the past year (2.1% increase in shares outstanding). New Risk • Sep 14
New minor risk - Shareholder dilution The company's shareholders have been diluted in the past year. Increase in shares outstanding: 2.1% This is considered a minor risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. This is currently the only risk that has been identified for the company. Reported Earnings • Sep 02
First half 2024 earnings released: EPS: CN¥0.43 (vs CN¥0.19 in 1H 2023) First half 2024 results: EPS: CN¥0.43 (up from CN¥0.19 in 1H 2023). Revenue: CN¥2.22b (up 27% from 1H 2023). Net income: CN¥205.1m (up 127% from 1H 2023). Profit margin: 9.2% (up from 5.1% in 1H 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Entertainment industry in Hong Kong. Announcement • Aug 20
XD Inc. to Report First Half, 2024 Results on Aug 30, 2024 XD Inc. announced that they will report first half, 2024 results on Aug 30, 2024 Announcement • Aug 05
XD Inc. Provides Unaudited Consolidated Earnings Guidance for the Six Months Ended June 30, 2024 XD Inc. provided unaudited consolidated earnings guidance for the six months ended June 30, 2024. For the six months ended June 30, 2024, the Group is expected to record: a revenue ranging from approximately RMB 2,180 million to RMB 2,230 million, representing an increase of approximately 24.4% to 27.2% as compared to the corresponding period of the last year. The expected increase in revenue is mainly attributable to (a) the revenue from newly launched games GoGo Muffin and Sword of Convallaria, (b) the increase in information services revenue from TapTap PRC, and (c) partially offset by the decrease in revenues from certain existing games; and a net profit ranging from approximately RMB 220 million to RMB 270 million, representing an increase of approximately 114.0% to 162.7% as compared to the corresponding period of the last year. The expected increase in net profit is mainly attributable to (a) an increase in gross profit due to improvements in total revenue and gross margin, and (b) partially offset by the increase in marketing expenses. Announcement • Jun 02
XD Inc., Annual General Meeting, Jun 25, 2024 XD Inc., Annual General Meeting, Jun 25, 2024, at 10:30 China Standard Time. Location: unit a1, no. 700 wanrong road, shanghai China Reported Earnings • Apr 28
Full year 2023 earnings released: CN¥0.18 loss per share (vs CN¥1.17 loss in FY 2022) Full year 2023 results: CN¥0.18 loss per share (improved from CN¥1.17 loss in FY 2022). Revenue: CN¥3.39b (down 1.2% from FY 2022). Net loss: CN¥83.0m (loss narrowed 85% from FY 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 16% growth forecast for the Entertainment industry in Hong Kong. Reported Earnings • Mar 29
Full year 2023 earnings released: CN¥0.18 loss per share (vs CN¥1.17 loss in FY 2022) Full year 2023 results: CN¥0.18 loss per share (improved from CN¥1.17 loss in FY 2022). Revenue: CN¥3.39b (down 1.2% from FY 2022). Net loss: CN¥83.0m (loss narrowed 85% from FY 2022). Revenue is forecast to grow 22% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Entertainment industry in Hong Kong. Announcement • Mar 19
XD Inc. to Report Fiscal Year 2023 Results on Mar 28, 2024 XD Inc. announced that they will report fiscal year 2023 results on Mar 28, 2024 New Risk • Feb 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Hong Kong stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Recent Insider Transactions • Jan 25
Founder recently bought HK$2.3m worth of stock On the 22nd of January, Yunjie Dai bought around 300k shares on-market at roughly HK$7.57 per share. This transaction amounted to less than 1% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. This was Yunjie's only on-market trade for the last 12 months. Announcement • Dec 17
XD Inc. Announces Board Changes The board of directors of XD Inc. announced that, Mr. LIU Wei has retired as a non-executive Director upon the expiry of his term of office with effect from December 17, 2023 due to personal work arrangement. Mr. LIU also ceased to be a member of the strategy and development committee of the Company on the same day. The Board announced that, Mr. WU Meng has been appointed as a non-executive Director and a member of the strategy and development committee, with effect from December 17, 2023. Mr. WU Meng, aged 38, started his business since 2005 and has over 18 years of experience in the gaming and Internet industry. From February 2012 to June 2022, Mr. WU worked at Giant Network Group Co. Ltd., where he consecutively served as the vice president from February 2012 to December 2019, and as the chief executive officer from January 2020 to June 2022. Mr. WU is the founder of Shanghai MiAO Worlds Technology Co. Ltd. and has served as the chief executive officer since July 2022. Mr. WU graduated from Shuangyashan City Forestry School in Heilongjiang Province in 2004. Reported Earnings • Sep 01
First half 2023 earnings released: EPS: CN¥0.19 (vs CN¥0.82 loss in 1H 2022) First half 2023 results: EPS: CN¥0.19 (up from CN¥0.82 loss in 1H 2022). Revenue: CN¥1.75b (up 10.0% from 1H 2022). Net income: CN¥90.2m (up CN¥476.3m from 1H 2022). Profit margin: 5.1% (up from net loss in 1H 2022). Revenue is forecast to grow 19% p.a. on average during the next 3 years, compared to a 21% growth forecast for the Entertainment industry in Hong Kong. Announcement • Aug 19
XD Inc. to Report First Half, 2023 Results on Aug 31, 2023 XD Inc. announced that they will report first half, 2023 results on Aug 31, 2023 Buying Opportunity • May 12
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 14%. The fair value is estimated to be HK$29.39, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 3.1% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Mar 31
Full year 2022 earnings released: CN¥1.17 loss per share (vs CN¥1.86 loss in FY 2021) Full year 2022 results: CN¥1.17 loss per share (improved from CN¥1.86 loss in FY 2021). Revenue: CN¥3.43b (up 27% from FY 2021). Net loss: CN¥553.5m (loss narrowed 36% from FY 2021). Revenue is forecast to grow 19% p.a. on average during the next 2 years, compared to a 18% growth forecast for the Entertainment industry in Hong Kong. Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Non Executive Director Lily Liu was the last independent director to join the board, commencing their role in 2020. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Oct 02
First half 2022 earnings released: CN¥0.82 loss per share (vs CN¥0.71 loss in 1H 2021) First half 2022 results: CN¥0.82 loss per share (further deteriorated from CN¥0.71 loss in 1H 2021). Revenue: CN¥1.59b (up 16% from 1H 2021). Net loss: CN¥386.1m (loss widened 19% from 1H 2021). Revenue is forecast to grow 27% p.a. on average during the next 3 years, compared to a 27% growth forecast for the Entertainment industry in Hong Kong. Reported Earnings • Sep 02
First half 2022 earnings released: CN¥0.82 loss per share (vs CN¥0.71 loss in 1H 2021) First half 2022 results: CN¥0.82 loss per share (down from CN¥0.71 loss in 1H 2021). Revenue: CN¥1.59b (up 16% from 1H 2021). Net loss: CN¥386.1m (loss widened 19% from 1H 2021). Over the next year, revenue is forecast to grow 24%, compared to a 34% growth forecast for the Entertainment industry in Hong Kong. Reported Earnings • Apr 28
Full year 2021 earnings released: CN¥1.86 loss per share (vs CN¥0.021 profit in FY 2020) Full year 2021 results: CN¥1.86 loss per share (down from CN¥0.021 profit in FY 2020). Revenue: CN¥2.70b (down 5.1% from FY 2020). Net loss: CN¥863.8m (down CN¥873.0m from profit in FY 2020). Over the next year, revenue is forecast to grow 11%, compared to a 29% growth forecast for the industry in Hong Kong. Board Change • Apr 27
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. 3 independent directors (4 non-independent directors). Founder, Chairman & CEO Yimeng Huang is the most experienced director on the board, commencing their role in 2019. Independent Non Executive Director Lily Liu was the last independent director to join the board, commencing their role in 2020. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Lack of experienced directors. Reported Earnings • Apr 01
Full year 2021 earnings released: CN¥1.86 loss per share (vs CN¥0.021 profit in FY 2020) Full year 2021 results: CN¥1.86 loss per share (down from CN¥0.021 profit in FY 2020). Revenue: CN¥2.70b (down 5.1% from FY 2020). Net loss: CN¥863.8m (down CN¥873.0m from profit in FY 2020). Over the next year, revenue is forecast to grow 15%, compared to a 28% growth forecast for the industry in Hong Kong. Recent Insider Transactions • Jan 19
Founder recently bought HK$4.0m worth of stock On the 14th of January, Yimeng Huang bought around 120k shares on-market at roughly HK$33.40 per share. In the last 3 months, they made an even bigger purchase worth HK$4.4m. Yimeng has been a buyer over the last 12 months, purchasing a net total of HK$250m worth in shares. Recent Insider Transactions • Dec 23
Founder recently bought HK$3.7m worth of stock On the 20th of December, Yimeng Huang bought around 100k shares on-market at roughly HK$37.35 per share. In the last 3 months, they made an even bigger purchase worth HK$4.4m. Yimeng has been a buyer over the last 12 months, purchasing a net total of HK$246m worth in shares. Recent Insider Transactions • Dec 08
Founder recently bought HK$4.3m worth of stock On the 6th of December, Yimeng Huang bought around 100k shares on-market at roughly HK$43.50 per share. In the last 3 months, they made an even bigger purchase worth HK$4.4m. Yimeng has been a buyer over the last 12 months, purchasing a net total of HK$242m worth in shares. Recent Insider Transactions • Nov 04
Founder recently bought HK$4.4m worth of stock On the 27th of October, Yimeng Huang bought around 100k shares on-market at roughly HK$44.15 per share. In the last 3 months, they made an even bigger purchase worth HK$5.7m. Yimeng has been a buyer over the last 12 months, purchasing a net total of HK$238m worth in shares. Recent Insider Transactions • Oct 12
Founder recently bought HK$4.0m worth of stock On the 6th of October, Yimeng Huang bought around 100k shares on-market at roughly HK$40.00 per share. In the last 3 months, they made an even bigger purchase worth HK$5.7m. Yimeng has been a buyer over the last 12 months, purchasing a net total of HK$229m worth in shares. Reported Earnings • Oct 01
First half 2021 earnings released: CN¥0.71 loss per share (vs CN¥0.49 profit in 1H 2020) The company reported a poor first half result with weaker earnings, revenues and control over costs. First half 2021 results: Revenue: CN¥1.38b (down 4.3% from 1H 2020). Net loss: CN¥325.1m (down 257% from profit in 1H 2020). 
