Activation Group Holdings Limited (HKG:9919)

Activation Group Holdings Balance Sheet

Financials in millions CNY. Fiscal year is January - December.

Assets

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Cash & Equivalents	298.2	298.04	379.19	307.08	300.27	405.82
Short-Term Investments	-	-	-	-	-	2.85
Cash & Short-Term Investments	298.2	298.04	379.19	307.08	300.27	408.67
Cash Growth	3.29%	-21.40%	23.48%	2.27%	-26.52%	33.78%
Accounts Receivable	210.79	263.74	264.94	397.64	308.86	231.69
Other Receivables	-	-	-	-	-	1.11
Receivables	210.79	263.74	264.94	397.64	308.86	232.8
Other Current Assets	27.22	22.11	28.81	17.94	16.24	29.22
Total Current Assets	536.21	583.89	672.93	722.65	625.37	670.69
Property, Plant & Equipment	8.31	10.47	11.45	10.42	14.67	13.82
Long-Term Investments	49.4	49.9	48.33	49.98	59.61	20
Goodwill	10.23	10.23	10.23	10.23	10.23	10.23
Other Intangible Assets	0.36	0.46	0.7	0.86	0.31	0.43
Long-Term Deferred Tax Assets	4.23	3.76	1.88	0.55	0.36	1.09
Other Long-Term Assets	0.7	0.7	0.39	0.7	0.7	-
Total Assets	609.44	659.41	745.91	795.4	711.25	716.24

Liabilities

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Accounts Payable	225.38	246.23	294.7	339.41	289.6	221.76
Current Portion of Leases	2.72	2.68	1.91	3.29	3.12	1.47
Current Income Taxes Payable	7.07	8.73	15.22	23.86	13.38	21.76
Current Unearned Revenue	-	8.32	24.09	8.41	2.81	2.03
Other Current Liabilities	28.88	24.79	39.65	53.81	38.83	32.35
Total Current Liabilities	264.05	290.74	375.56	428.77	347.73	279.35
Long-Term Leases	4.17	5.56	5.89	3.29	6.48	7.27
Long-Term Deferred Tax Liabilities	3.16	3.16	3.32	3.37	3.45	0.2
Total Liabilities	271.37	299.46	384.77	435.43	357.66	286.83

Shareholders' Equity

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Common Stock	0.66	0.66	0.66	0.66	0.66	0.67
Additional Paid-In Capital	-	108.97	111.97	111.97	182.54	252.35
Retained Earnings	-	296.22	283.28	288.3	191.48	185.05
Comprehensive Income & Other	321.26	-63.12	-54.55	-61.16	-38.37	-31.76
Total Common Equity	321.92	342.73	341.36	339.77	336.31	406.32
Minority Interest	16.16	17.22	19.78	20.21	17.28	23.1
Shareholders' Equity	338.08	359.96	361.14	359.98	353.59	429.41
Total Liabilities & Equity	609.44	659.41	745.91	795.4	711.25	716.24

Additional Metrics

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun 30, 2026	Dec 31, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021
Total Debt	6.89	8.24	7.8	6.58	9.6	8.74
Net Cash (Debt)	291.32	289.81	371.39	300.5	290.67	399.93
Net Cash Growth	4.36%	-21.97%	23.59%	3.38%	-27.32%	37.08%
Net Cash Per Share	0.39	0.39	0.50	0.41	0.40	0.54
Filing Date Shares Outstanding	744.74	744.74	744.74	744.74	744.74	753.72
Total Common Shares Outstanding	744.74	744.74	744.74	744.74	744.74	753.72
Working Capital	272.16	293.15	297.37	293.88	277.64	391.33
Book Value Per Share	0.43	0.46	0.46	0.46	0.45	0.54
Tangible Book Value	311.32	332.04	330.43	328.68	325.77	395.66
Tangible Book Value Per Share	0.42	0.45	0.44	0.44	0.44	0.52
Machinery	-	9.39	8.75	8.54	8.14	7.07
Leasehold Improvements	-	7.96	7.96	7.11	6.89	4.75

Data Source: S&P Global Market Intelligence Last updated: Jun 30, 2026

Financial data is provided by S&P Global Market Intelligence and updates within hours after each earnings release, which is every six months for this company.

Update frequency:

Semi-annually

Last checked:

Aug 30, 2026

Data Sources Report a data error