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Activation Group Holdings Limited (9919.HK)

HKD0.82 +0.01 (+1.23%)
CN HKSE Communication Services Advertising Agencies
Address No. 399A Liu Zhou Road 200235
Shanghai, CN
CEO Kam Yiu Lau
IPO 2020-01-16
ISIN KYG0081C1087

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Description

Activation Group Holdings Limited operates as an investment holding company, delivering comprehensive marketing solutions primarily across Mainland China, Hong Kong, and Singapore. The firm structures its operations into three core segments: Experiential Marketing Services, Digital and Communication Services, and IP Development. Its extensive service portfolio encompasses experiential marketing campaigns, digital and brand communication strategies, public relations, and application development. Furthermore, the company is actively involved in the management and execution of sports events. Established in 2013, Activation Group maintains its headquarters in Shanghai, 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
HKD0.82 +0.01 (+1.23%)
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Volume Profile
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Liquidity & share structure
Average Volume
196.6K
Beta
-0.52
Float Shares
279.17M
Free Float %
37.5%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+1.10% +1.10% +2.22% -10.68% -9.80% -13.21% +15.00% -29.23% +9.52% -41.40% -41.40%
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
0.82
DCF (Unlevered) 2.09 +155.3%
DCF (Levered) 2.81 +243.2%

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.

Ratings Trend (MoM) 100% Bullish
Rating 2025-11 Change
Strong Buy 0 0
Buy 1 0
Hold 0 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
5.01
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
3 / 10
No MOAT
Composite Rating
A+
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
4 / 5
High
P/E Score
3 / 5
Medium
P/Book Score
2 / 5
Medium
Operational MOAT
✗ Below peers
  • Revenue growth Advertising Agencies: +8.1%
    -16.6% Q4'25: -35.9% (vs Q4'23)
  • EPS growth Advertising Agencies: +38.8%
    -9.1% Q4'25: -38.0% (vs Q4'23)
  • FCF margin FCF growth · Advertising Agencies: +39.2%
    -2.7% Q4'25: +7.1% (vs Q4'23)
  • EBIT margin Advertising Agencies: +7.9%
    +11.6% Q4'25: +8.3% (vs Q4'23)
  • ROIC Advertising Agencies: +6.8%
    +88.4% Q4'25: +161.8% (vs Q4'23)
  • Share dilution Advertising Agencies: +0.0%
    +0.0% Q4'25: +1.4% (vs Q4'23)
  • Debt / EBITDA Net debt/EBITDA · Advertising Agencies: -1.31×
    0.10× Q4'25: 0.06× (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 (-0.53) × ERP
WACC = 99% × Ke + 1% × Kd (4.5%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 2.09 Current price: 0.82
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 2021
actual
Dec 2022
actual
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
904.06M
est: 1.17B (-23.0%)
694.81M
est: 753.93M (-7.8%)
967.23M
est: 1.01B (-4.4%)
847.75M
est: 946.65M (-10.4%)
707.40M
est: 908.62M (-22.1%)
1.07B
1.07B – 1.07B
+17.5% YoY
1.20B
1.20B – 1.20B
+12.8% YoY
EBITDA
137.21M
est: 141.28M (-2.9%)
42.03M
est: 90.68M (-53.7%)
170.39M
est: 121.74M (+40.0%)
125.65M
est: 124.05M (+1.3%)
83.88M
est: 119.07M (-29.6%)
139.85M
139.85M – 139.85M
+17.5% YoY
157.79M
157.79M – 157.79M
+12.8% YoY
EBIT
136.40M
est: 137.27M (-0.6%)
39.97M
est: 88.11M (-54.6%)
165.20M
est: 118.29M (+39.7%)
120.55M
est: 120.62M (-0.1%)
81.84M
est: 115.77M (-29.3%)
135.98M
135.98M – 135.98M
+17.5% YoY
153.42M
153.42M – 153.42M
+12.8% YoY
Net Income
92.49M
est: 69.37M (+33.3%)
23.63M
est: 56.33M (-58.0%)
107.99M
est: 118.59M (-8.9%)
79.24M
est: 111.59M (-29.0%)
76.00M
est: 89.83M (-15.4%)
115.80M
115.80M – 115.80M
+28.9% YoY
134.87M
134.87M – 134.87M
+16.5% YoY
SGA
128.50M
est: 210.84M (-39.1%)
152.12M
est: 135.34M (+12.4%)
145.13M
est: 181.69M (-20.1%)
137.58M
est: 157.98M (-12.9%)
113.88M
est: 151.63M (-24.9%)
178.10M
178.10M – 178.10M
+17.5% YoY
200.94M
200.94M – 200.94M
+12.8% YoY
EPS
0.13
est: 0.09 (+39.4%)
0.03
est: 0.08 (-57.6%)
0.15
est: 0.16 (-5.9%)
0.11
est: 0.15 (-26.6%)
0.10
est: 0.12 (-17.2%)
0.16
0.16 – 0.16
+28.9% YoY
0.18
0.18 – 0.18
+16.5% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-29 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-28 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-27 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-26 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-22 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-20 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-18 A+ 4/5 5/5 5/5 5/5 4/5 3/5 2/5
2026-05-14 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-05-13 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-12 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-11 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-08 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-07 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-06 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-05 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-05-04 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-04-30 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-04-28 A+ 4/5 5/5 5/5 5/5 3/5 3/5 3/5
2026-04-27 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-24 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-23 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-22 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-21 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-20 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-17 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5
2026-04-16 A 4/5 5/5 5/5 5/5 3/5 3/5 2/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
194.17M
OE per share TTM
0.26
Owner's Yield
28.31%
Maintenance CapEx ratio
9.32%
Maint CapEx / Avg PPE
1.8%

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

This company is not held by any ETF in our universe.

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
370.3K
Shares Outstanding
744.74M

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
Wai Bun Chan Group VP, Co-COO & Executive Director 3M male
Wei Mun Low Group VP, Co-COO & Executive Director 3M female
Ben Chan Group VP, Co-COO & Executive Director 3M male
Christine Low Group VP, Co-COO & Executive Director 3M female
Kam Yiu Lau Joint Chairman & Chief Executive Officer 3M male
Bo Sing Ng Joint-Chairman & Chief Financial Officer 2M male
Yifeng Bao GM of Shanghai Aidi Linjie Cultural Development Co., Ltd. male
Kwok Chun Company Secretary male
Qi Zhou Manager for Digital Marketing & Public Relations female
Wai Tong Choi GM of Shanghai Fansi Advertising Co., Limited 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 yield history

Dividend history

Earnings history

Earnings reports

Stock splits