Group 1 - The company, Fire Rock Holdings (01909.HK), plans to issue up to 96 million shares on a "2 for 1" basis to raise a maximum of HKD 152 million, with an offer price of HKD 1.58 per share [1] - The company primarily engages in the development of browsers, mobile device games (including game design, programming, and graphic production), and computer software related to game operations, licensing its self-developed web and mobile games to authorized operators globally [1] - The company also operates its self-developed games independently in overseas markets [1] Group 2 - The estimated net proceeds from the rights issue, if fully subscribed, will be approximately HKD 151 million, which will be used for several purposes [2] - The company plans to establish a new development team in China, recruiting about 8 to 10 professionals and acquiring necessary office equipment and IT software and hardware [2] - A development base will be set up in Indonesia, including leasing a new office, recruiting 15 to 20 local professionals and support staff, and procuring necessary office equipment and IT software and hardware [2] - The company intends to acquire new simulation games (3 to 4 titles), including purchasing related patents, trademarks, intellectual property, and licenses [2] - Marketing for existing and new games in Indonesia and other Southeast Asian markets will include advertising, promotional activities, and procurement of promotional materials [2] - General operating funds will cover employee salaries, director remuneration, office rent and rates, professional fees (including legal and audit fees), listing annual fees, and other administrative expenses [2]

Core Viewpoint - The company, Fire Rock Holdings (01909.HK), anticipates a significant loss of approximately HKD 18.2 million for the six months ending June 30, 2025, compared to a profit of HKD 6.8 million for the same period ending June 30, 2024, indicating a notable decline in financial performance [1] Financial Performance - The expected loss for the upcoming period is attributed to several factors, including increased amortization of intangible assets related to a newly launched self-developed mobile game [1] - The company has also made provisions for impairment losses on intangible assets due to uncertainties regarding the future performance of existing mobile games [1] - Additionally, there has been an increase in employee costs, contributing to the overall decline in financial performance [1]

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]