Valuation Update With 7 Day Price Move • Jun 09
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to HK$12.65, the stock trades at a forward P/E ratio of 20x. Average forward P/E is 13x in the Media industry in Asia. Total returns to shareholders of 256% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$24.16 per share. Reported Earnings • May 31
First quarter 2026 earnings released: EPS: US$0.022 (vs US$0.014 in 1Q 2025) First quarter 2026 results: EPS: US$0.022 (up from US$0.014 in 1Q 2025). Revenue: US$581.3m (up 32% from 1Q 2025). Net income: US$34.2m (up 61% from 1Q 2025). Profit margin: 5.9% (up from 4.8% in 1Q 2025). The increase in margin was driven by higher revenue. Revenue is forecast to grow 21% p.a. on average during the next 3 years, compared to a 11% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 55% per year but the company’s share price has increased by 62% per year, which means it is tracking significantly ahead of earnings growth. 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. 5 experienced directors. 2 highly experienced directors. 3 independent directors (5 non-independent directors). Independent Non-Executive Director Jimmy Wong was the last independent director to join the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Announcement • May 19
Mobvista Inc. to Report Q1, 2026 Results on May 31, 2026 Mobvista Inc. announced that they will report Q1, 2026 results at 9:30 AM, China Standard Time on May 31, 2026 Announcement • Feb 27
Mobvista Inc. to Report Fiscal Year 2025 Results on Mar 11, 2026 Mobvista Inc. announced that they will report fiscal year 2025 results on Mar 11, 2026 Announcement • Nov 11
Mobvista Inc. to Report Q3, 2025 Results on Nov 21, 2025 Mobvista Inc. announced that they will report Q3, 2025 results on Nov 21, 2025 Announcement • Aug 22
Mobvista Inc. Provides Consolidated Earnings Guidance for the Six Months Ended 30 June 2025 Mobvista Inc. provided consolidated earnings guidance for the six months ended 30 June 2025. For the period, the Group expected to record a net profit of between approximately USD 30 million and USD 38 million for the Period, compared to a net profit of approximately USD 7.34 million for the six months ended 30 June 2024. Based on currently available information, the expected increase in net profit for the Period is primarily attributable to (i) the rapid development of the industry where Mintegral, core programmatic advertising platform, operates, with leading technology in this sector driving continuous revenue growth; (ii) under the economies of scale, the operating leverage becomes prominent, driving up the net profit margin. Announcement • Aug 18
Mobvista Inc. to Report First Half, 2025 Results on Aug 29, 2025 Mobvista Inc. announced that they will report first half, 2025 results on Aug 29, 2025 Announcement • May 14
Mobvista Inc. to Report Q1, 2025 Results on May 26, 2025 Mobvista Inc. announced that they will report Q1, 2025 results on May 26, 2025 Announcement • Apr 01
Mobvista Inc., Annual General Meeting, Jun 13, 2025 Mobvista Inc., Annual General Meeting, Jun 13, 2025. Announcement • Mar 17
Mobvista Inc. to Report Fiscal Year 2024 Results on Mar 31, 2025 Mobvista Inc. announced that they will report fiscal year 2024 results on Mar 31, 2025 Reported Earnings • Nov 17
Third quarter 2024 earnings released: EPS: US$0.007 (vs US$0.003 in 3Q 2023) Third quarter 2024 results: EPS: US$0.007 (up from US$0.003 in 3Q 2023). Revenue: US$416.5m (up 55% from 3Q 2023). Net income: US$9.90m (up 162% from 3Q 2023). Profit margin: 2.4% (up from 1.4% in 3Q 2023). Revenue is forecast to grow 12% p.a. on average during the next 2 years, compared to a 6.3% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 12% per year, which means it is significantly lagging earnings. Announcement • Nov 05
Mobvista Inc. to Report Q3, 2024 Results on Nov 15, 2024 Mobvista Inc. announced that they will report Q3, 2024 results on Nov 15, 2024 Valuation Update With 7 Day Price Move • Oct 28
Investor sentiment improves as stock rises 41% After last week's 41% share price gain to HK$2.40, the stock trades at a trailing P/E ratio of 22.3x. Average forward P/E is 15x in the Media industry in Hong Kong. Total loss to shareholders of 68% over the past three years. Valuation Update With 7 Day Price Move • Oct 09
Investor sentiment deteriorates as stock falls 24% After last week's 24% share price decline to HK$1.81, the stock trades at a trailing P/E ratio of 16.8x. Average forward P/E is 16x in the Media industry in Hong Kong. Total loss to shareholders of 76% over the past three years. 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 12% 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 (12% average weekly change). Large one-off items impacting financial results. Reported Earnings • Sep 25
Second quarter 2024 earnings released: EPS: US$0.001 (vs US$0.005 in 2Q 2023) Second quarter 2024 results: EPS: US$0.001 (down from US$0.005 in 2Q 2023). Revenue: US$336.8m (up 29% from 2Q 2023). Net income: US$1.67m (down 74% from 2Q 2023). Profit margin: 0.5% (down from 2.5% in 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.1% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 42% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Sep 24
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to HK$1.40, the stock trades at a trailing P/E ratio of 12.9x. Average forward P/E is 15x in the Media industry in Hong Kong. Total loss to shareholders of 81% over the past three years. Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment deteriorates as stock falls 18% After last week's 18% share price decline to HK$1.34, the stock trades at a trailing P/E ratio of 12.5x. Average forward P/E is 15x in the Media industry in Hong Kong. Total loss to shareholders of 82% over the past three years. Reported Earnings • Aug 24
Second quarter 2024 earnings released: EPS: US$0.001 (vs US$0.005 in 2Q 2023) Second quarter 2024 results: EPS: US$0.001 (down from US$0.005 in 2Q 2023). Revenue: US$336.8m (up 29% from 2Q 2023). Net income: US$1.67m (down 74% from 2Q 2023). Profit margin: 0.5% (down from 2.5% in 2Q 2023). Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 6.2% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 77% per year but the company’s share price has fallen by 40% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Mobvista Inc. to Report First Half, 2024 Results on Aug 23, 2024 Mobvista Inc. announced that they will report first half, 2024 results on Aug 23, 2024 Valuation Update With 7 Day Price Move • May 30
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to HK$2.94, the stock trades at a trailing P/E ratio of 21.9x. Average forward P/E is 15x in the Media industry in Hong Kong. Total loss to shareholders of 68% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at HK$3.96 per share. Buy Or Sell Opportunity • May 27
Now 22% undervalued after recent price drop Over the last 90 days, the stock has fallen 5.5% to HK$3.11. The fair value is estimated to be HK$3.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 21% over the last 3 years. Meanwhile, the company has become profitable. Revenue is forecast to grow by 38% in 2 years. Earnings are forecast to grow by 87% in the next 2 years. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: US$0.005 (vs US$0.002 in 1Q 2023) First quarter 2024 results: EPS: US$0.005 (up from US$0.002 in 1Q 2023). Revenue: US$301.5m (up 23% from 1Q 2023). Net income: US$7.59m (up 107% from 1Q 2023). Profit margin: 2.5% (up from 1.5% in 1Q 2023). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 8.0% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 82% per year but the company’s share price has fallen by 26% per year, which means it is significantly lagging earnings. Buy Or Sell Opportunity • May 10
Now 21% overvalued Over the last 90 days, the stock has fallen 1.0% to HK$2.91. The fair value is estimated to be HK$2.41, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has grown by 22% over the last 3 years. Meanwhile, the company has become profitable. For the next 3 years, revenue is forecast to grow by 16% per annum. Earnings are also forecast to grow by 27% per annum over the same time period. Reported Earnings • Apr 17
Full year 2023 earnings released: EPS: US$0.014 (vs US$0.01 in FY 2022) Full year 2023 results: EPS: US$0.014 (up from US$0.01 in FY 2022). Revenue: US$1.05b (up 18% from FY 2022). Net income: US$21.8m (up 45% from FY 2022). Profit margin: 2.1% (up from 1.7% in FY 2022). Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 7.1% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 35% per year, which means it is significantly lagging earnings. Announcement • Apr 16
Mobvista Inc., Annual General Meeting, Jun 18, 2024 Mobvista Inc., Annual General Meeting, Jun 18, 2024, at 10:00 China Standard Time. Location: Guangzhou room, 44/F, Tianying Plaza (East Tower), No. 222-3 Xingmin Road, Zhujiang New Town, Tianhe District, Guangzhou Guangdong Province China Agenda: To consider and adopt the audited consolidated financial statements of the Company and its subsidiaries and the reports of the directors and auditor for the year ended 31 December 2023; to re-elect retiring directors of the Company (the "Directors"): to re-appoint KPMG as auditor of the Company and authorise the Directors to fix its remuneration and to consider other matters. Reported Earnings • Mar 16
Full year 2023 earnings released: EPS: US$0.014 (vs US$0.01 in FY 2022) Full year 2023 results: EPS: US$0.014 (up from US$0.01 in FY 2022). Revenue: US$1.05b (up 18% from FY 2022). Net income: US$21.8m (up 45% from FY 2022). Profit margin: 2.1% (up from 1.7% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 16% p.a. on average during the next 2 years, compared to a 8.2% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 73% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Announcement • Mar 01
Mobvista Inc. to Report Fiscal Year 2023 Results on Mar 15, 2024 Mobvista Inc. announced that they will report fiscal year 2023 results on Mar 15, 2024 Reported Earnings • Nov 17
Third quarter 2023 earnings released: EPS: US$0.003 (vs US$0.003 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.003 (up from US$0.003 loss in 3Q 2022). Revenue: US$269.4m (up 23% from 3Q 2022). Net income: US$3.78m (up US$8.63m from 3Q 2022). Profit margin: 1.4% (up from net loss in 3Q 2022). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has increased by 48% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Announcement • Nov 02
Mobvista Inc. to Report Q3, 2023 Results on Nov 15, 2023 Mobvista Inc. announced that they will report Q3, 2023 results on Nov 15, 2023 Buying Opportunity • Sep 13
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 15%. The fair value is estimated to be HK$3.98, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 23% over the last 3 years. Earnings per share has grown by 20%. Revenue is forecast to grow by 57% in 2 years. Earnings is forecast to grow by 8,870% in the next 2 years. Announcement • Aug 03
Mobvista Inc. to Report First Half, 2023 Results on Aug 15, 2023 Mobvista Inc. announced that they will report first half, 2023 results on Aug 15, 2023 Announcement • May 12
Mobvista Inc. Announces Executive Changes Mobvista Inc. announced that Ms. SO Shuk Yi Betty (Ms. SO) resigned as the company secretary of the Company. The Board announced that Ms. LEE Angel Pui Shan (Ms. LEE) has been appointed as the Company Secretary, the Authorised Representative and the Process Agent with effect from 11 May 2023. Ms. LEE is a Corporate Secretarial Executive of SWCS Corporate Services Group (Hong Kong) Limited (SWCS) and has extensive company secretarial professional experience. Ms. LEE holds a bachelor's degree in accounting and is a certified public accountant of The Hong Kong Institute of Certified Public Accountants and also a member of The Hong Kong Chartered Governance Institute. Before joining SWCS, she worked for Ernst & Young (Hong Kong and Beijing), participated in several Chinese overseas listings, and was also responsible for many internal control projects for their compliance with the listing requirements of Hong Kong and overseas. Reported Earnings • May 04
Full year 2022 earnings released: EPS: US$0.01 (vs US$0.016 loss in FY 2021) Full year 2022 results: EPS: US$0.01 (up from US$0.016 loss in FY 2021). Revenue: US$894.4m (up 18% from FY 2021). Net income: US$15.0m (up US$40.0m from FY 2021). Profit margin: 1.7% (up from net loss in FY 2021). Revenue is forecast to grow 20% p.a. on average during the next 3 years, compared to a 14% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year whereas the company’s share price has fallen by 1% per year. Reported Earnings • Mar 31
Full year 2022 earnings released: EPS: US$0.01 (vs US$0.016 loss in FY 2021) Full year 2022 results: EPS: US$0.01 (up from US$0.016 loss in FY 2021). Revenue: US$894.4m (up 18% from FY 2021). Net income: US$15.0m (up US$40.0m from FY 2021). Profit margin: 1.7% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Revenue is forecast to grow 20% p.a. on average during the next 2 years, compared to a 14% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 6% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. 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. 5 non-independent directors. Independent Non-Executive Director Honnus Cheung was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Reported Earnings • Aug 31
First half 2022 earnings released: EPS: US$0.016 (vs US$0.025 loss in 1H 2021) First half 2022 results: EPS: US$0.016 (up from US$0.025 loss in 1H 2021). Revenue: US$455.8m (up 48% from 1H 2021). Net income: US$24.7m (up US$63.5m from 1H 2021). Profit margin: 5.4% (up from net loss in 1H 2021). The move to profitability was driven by higher revenue. Over the next year, revenue is forecast to grow 22%, compared to a 23% growth forecast for the Media industry in Hong Kong. Over the last 3 years on average, earnings per share has fallen by 51% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • May 02
Full year 2021 earnings released: US$0.016 loss per share (vs US$0.003 loss in FY 2020) Full year 2021 results: US$0.016 loss per share (down from US$0.003 loss in FY 2020). Revenue: US$755.4m (up 46% from FY 2020). Net loss: US$25.0m (loss widened 379% from FY 2020). Over the next year, revenue is forecast to grow 51%, compared to a 21% growth forecast for the industry in Hong Kong. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 107 percentage points per year, which is a significant difference in performance. Board Change • Apr 27
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. 5 non-independent directors. Independent Non-Executive Director Martin Sun 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 • Apr 02
Full year 2021 earnings released: US$0.016 loss per share (vs US$0.003 loss in FY 2020) Full year 2021 results: US$0.016 loss per share (down from US$0.003 loss in FY 2020). Revenue: US$755.4m (up 46% from FY 2020). Net loss: US$25.0m (loss widened 379% from FY 2020). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 105 percentage points per year, which is a significant difference in performance. Reported Earnings • Sep 06
First half 2021 earnings released: US$0.025 loss per share (vs US$0.009 profit in 1H 2020) The company reported a soft first half result with weaker earnings and weaker control over costs, although revenues improved. First half 2021 results: Revenue: US$307.8m (up 15% from 1H 2020). Net loss: US$38.8m (down 396% from profit in 1H 2020). Reported Earnings • May 02
Full year 2020 earnings released: US$0.003 loss per share (vs US$0.015 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$516.1m (up 3.2% from FY 2019). Net loss: US$5.21m (down 124% from profit in FY 2019). Reported Earnings • Apr 02
Full year 2020 earnings released: US$0.003 loss per share (vs US$0.015 profit in FY 2019) The company reported a soft full year result with weaker earnings and weaker control over costs, although revenues improved. Full year 2020 results: Revenue: US$516.1m (up 3.2% from FY 2019). Net loss: US$5.21m (down 124% from profit in FY 2019). Valuation Update With 7 Day Price Move • Feb 25
Investor sentiment deteriorated over the past week After last week's 21% share price decline to US$7.71, the stock is trading at a trailing P/E ratio of 53.6x, down from the previous P/E ratio of 67.4x. This compares to an average P/E of 17x in the Media industry in Hong Kong. Total returns to shareholders over the past year are 119%. Is New 90 Day High Low • Feb 11
New 90-day high: HK$8.19 The company is up 134% from its price of HK$3.50 on 13 November 2020. The Hong Kong market is up 15% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is up 38% over the same period. Valuation Update With 7 Day Price Move • Jan 28
Investor sentiment improved over the past week After last week's 29% share price gain to US$6.10, the stock is trading at a trailing P/E ratio of 42.4x, up from the previous P/E ratio of 32.9x. This compares to an average P/E of 18x in the Media industry in Hong Kong. Total returns to shareholders over the past year are 79%. Is New 90 Day High Low • Jan 25
New 90-day high: HK$5.39 The company is up 58% from its price of HK$3.41 on 28 October 2020. The Hong Kong market is up 18% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Media industry, which is down 5.0% over the same period. Valuation Update With 7 Day Price Move • Dec 24
Investor sentiment improved over the past week After last week's 16% share price gain to US$4.52, the stock is trading at a trailing P/E ratio of 31.4x, up from the previous P/E ratio of 27x. This compares to an average P/E of 14x in the Media industry in Hong Kong. Total returns to shareholders over the past year are 43%. Is New 90 Day High Low • Dec 17
New 90-day high: HK$3.94 The company is up 1.0% from its price of HK$3.90 on 18 September 2020. The Hong Kong market is up 7.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 2.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Is New 90 Day High Low • Oct 23
New 90-day low: HK$3.48 The company is down 12% from its price of HK$3.96 on 24 July 2020. The Hong Kong market is up 3.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is up 12% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Reported Earnings • Sep 30
First half earnings released Over the last 12 months the company has reported total profits of US$27.6m, up 43% from the prior year. Total revenue was US$542.1m over the last 12 months, up 14% from the prior year. Is New 90 Day High Low • Sep 26
New 90-day low: HK$3.68 The company is down 16% from its price of HK$4.39 on 26 June 2020. The Hong Kong market is down 2.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Media industry, which is flat over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is per share. Recent Insider Transactions • Sep 19
Co-Founder recently bought HK$4.6m worth of stock On the 14th of September, Wei Duan bought around 1m shares on-market at roughly HK$3.94 per share. This was the largest purchase by an insider in the last 3 months. This was Wei's only on-market trade for the last 12 months. 
