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Tanwan Inc (9890.HK)

HKD10.75 +0.28 (+2.67%)
CN HKSE Technology Electronic Gaming & Multimedia
Address Canton Financial Ctr, 656 Huangpu Ave
Guangzhou, CN
CEO Xubo Wu
Website zx.com
IPO 2023-09-28
ISIN KYG989M71072

Explore sections of this company profile

Description

Operating across Mainland China and Hong Kong, ZX Inc. primarily functions as an online game publisher, with its gaming portfolio marketed and managed under the Tan Wan brand. The company's business activities extend beyond digital entertainment to encompass real estate and various marketing services. Furthermore, ZX Inc. is involved in the consumer goods market, offering rice noodle products and other fast-moving consumer items through its Zha Zha Hui brand, as well as a range of collectible pop toys under the Bro Kooli label. Founded in 2015, the firm maintains its corporate headquarters in Guangzhou, People's Republic of China.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
HKD10.75 +0.28 (+2.67%)
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Volume Profile
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Liquidity & share structure
Average Volume
2M
Beta
4.18
Float Shares
178.69M
Free Float %
34.3%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+13.86% +6.98% -9.51% -22.03% +3.37% -20.00% +32.44% -1.43% -1.43% -1.43% -1.43%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
10.75
DCF (Unlevered) 0.37 -96.6%
DCF (Levered) 0.47 -95.6%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Quality scores
Altman Z-Score
3.05
Safe zone
Piotroski F-Score
4 / 9
Average
MOAT Score
3 / 10
No MOAT
Composite Rating
A
Overall Score
4 / 5
High
DCF Score
2 / 5
Medium
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
4 / 5
High
P/Book Score
3 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Electronic Gaming & Multimedia: +4.1%
    -27.4% Q4'25: -30.5% (vs Q4'23)
  • EPS growth Electronic Gaming & Multimedia: +20.0%
    +39,375.4% Q4'25: +4,226.6% (vs Q4'23)
  • FCF margin FCF growth · Electronic Gaming & Multimedia: +41.4%
    -14.9% Q4'25: +19.2% (vs Q4'23)
  • EBIT margin Electronic Gaming & Multimedia: +10.3%
    +5.7% Q4'25: -6.7% (vs Q4'23)
  • ROIC Electronic Gaming & Multimedia: +6.6%
    +41.0% Q4'25: -96.7% (vs Q4'23)
  • Share dilution Electronic Gaming & Multimedia: +0.0%
    +2.3% Q4'25: +3.4% (vs Q4'23)
  • Debt / EBITDA Net debt/EBITDA · Electronic Gaming & Multimedia: -1.53×
    0.36× Q4'25: -0.22× (vs Q4'23)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (4.23) × ERP
WACC = 98% × Ke + 2% × Kd (13.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 0.37 Current price: 10.75
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Revenue
6.51B
est: 7.66B (-15.0%)
5.58B
est: 9.91B (-43.7%)
4.05B
est: 4.61B (-12.1%)
5.83B
5.83B – 5.83B
+26.7% YoY
6.68B
6.68B – 6.68B
+14.4% YoY
EBITDA
477.81M
est: -188.76M (+353.1%)
59.72M
est: 724.26M (-91.8%)
287.69M
est: 336.75M (-14.6%)
426.59M
426.59M – 426.59M
+26.7% YoY
488.14M
488.14M – 488.14M
+14.4% YoY
EBIT
427.72M
est: -254.12M (+268.3%)
12.00M
est: 624.90M (-98.1%)
232.27M
est: 290.56M (-20.1%)
368.07M
368.07M – 368.07M
+26.7% YoY
421.18M
421.18M – 421.18M
+14.4% YoY
Net Income
235.49M
est: 623.38M (-62.2%)
-3.62M
est: 879.39M (-100.4%)
1.45B
est: 1.57B (-7.6%)
1.25B
1.25B – 1.25B
-20.2% YoY
1.55B
1.55B – 1.55B
+23.9% YoY
SGA
4.15B
est: 4.90B (-15.5%)
3.71B
est: 5.19B (-28.6%)
est: 2.41B (-100.0%)
3.06B
3.06B – 3.06B
+26.7% YoY
3.50B
3.50B – 3.50B
+14.4% YoY
EPS
0.47
est: 1.20 (-60.7%)
-0.01
est: 1.65 (-100.4%)
2.76
est: 2.94 (-6.1%)
2.35
2.35 – 2.35
-20.2% YoY
2.91
2.91 – 2.91
+23.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-28 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-27 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-26 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-22 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-21 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-20 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-19 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-18 A 4/5 2/5 5/5 5/5 4/5 4/5 3/5
2026-05-15 A 4/5 2/5 5/5 5/5 3/5 4/5 3/5
2026-05-14 A 4/5 2/5 5/5 5/5 3/5 4/5 3/5
2026-05-13 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-05-12 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-05-11 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-05-08 A+ 4/5 2/5 5/5 5/5 4/5 4/5 4/5
2026-05-07 A+ 4/5 2/5 5/5 5/5 4/5 4/5 4/5
2026-05-06 A+ 4/5 2/5 5/5 5/5 4/5 4/5 4/5
2026-05-05 A+ 4/5 2/5 5/5 5/5 4/5 4/5 4/5
2026-05-04 A+ 4/5 2/5 5/5 5/5 4/5 4/5 4/5
2026-04-30 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-29 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-28 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-27 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-24 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-23 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-22 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-21 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-20 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-17 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5
2026-04-16 A 4/5 2/5 5/5 5/5 3/5 4/5 4/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-1.97B
OE per share TTM
-3.78
Owner's Yield
-26.67%
Maintenance CapEx ratio
29.50%
Maint CapEx / Avg PPE
6.1%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 41 ETFs in our universe
# ETF Weight Est. AUM exposure TER
1 Roundhill Video Games ETF NERD 0.63% 91.1K 0.50%
2 First Trust Emerging Markets Small Cap AlphaDEX Fund FEMS 0.55% 1.40M 0.80%
3 Global X Video Games & Esports ETF HERO 0.27% 168.7K 0.50%
4 iShares MSCI China Small-Cap ETF ECNS 0.17% 109.1K 0.59%
5 iShares MSCI AC Far East ex-Japan Small Cap UCITS ETF ISFE.L 0.02% 16.5K 0.74%
6 State Street SPDR S&P Emerging Markets Small Cap ETF EWX 0.02% 141.5K 0.65%
7 iShares MSCI EM Small Cap UCITS ETF IEMS.L 0.02% 54.9K 0.74%
8 Avantis Emerging Markets Small Cap Equity ETF AVEE 0.02% 18.2K 0.42%
9 State Street SPDR MSCI Emerging Markets Small Cap UCITS ETF EMSD.L 0.01% 76.9K 0.55%
10 Avantis Emerging Markets Value ETF AVES 0.01% 131.6K 0.36%

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
254.7K
Shares Outstanding
521.23M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Xubo Wu Key Founder, Chief Executive Officer & Executive Chairman 6M male
Xuan Wu Co-Founder, Chief Operating Officer & Executive Director 5M female
He Tony Tong Chief Future Officer male
Wing Man Tsang Company Secretary female
Xihu Luo Head of Operating male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits