Company Overview - Fire Rock Holdings Limited (stock code: 01909.HK) is a Hong Kong-listed company focused on game development and global operations, covering web games and mobile games, while actively exploring blockchain technology applications [4] - The company employs a "free-to-play + in-game purchases" model, generating revenue through the sale of game currency and licensing to global operators [4] - Since 2010, Fire Rock has pursued a globalization strategy, localizing games into multiple languages and expanding its business across regions including China, Southeast Asia, Europe, and the Middle East [4] Financial Performance - As of December 31, 2024, Fire Rock achieved total revenue of 130 million HKD, representing a year-on-year growth of 4.2%, while the net profit attributable to shareholders was -15.8 million HKD, a decrease of 103.05% [2] - The company's gross margin stood at 80.21%, with a debt-to-asset ratio of 15.36% [2] Market Position and Valuation - Currently, there are no institutional investment ratings for Fire Rock Holdings [3] - The software services industry has an average price-to-earnings (P/E) ratio of -9.74x, with Fire Rock's P/E ratio at -20.81x, ranking 84th in the industry [3] Strategic Initiatives - In 2024, the company plans to deepen its overseas presence by launching localized game versions in the South American market and expanding into Southeast Asia [4] - Fire Rock aims to enhance its product offerings by focusing on casual games to attract a broader user base and exploring social entertainment features to increase user engagement and monetization opportunities [4] Recent Developments - On July 2, 2025, the company plans to issue 38.4 million new shares, representing 16.67% of the enlarged share capital, at a price of 1.87 HKD per share, reflecting a discount of 2.20% from the previous closing price [5]