Updated Jun 25, 2026 by IGG
IGG Inc. reported a net loss of HK$172 million for the first half of 2022, a significant reversal from the HK$577 million profit recorded during the same period in 2021.
Total revenue declined 23% year-on-year to HK$2.49 billion, primarily due to global economic pressures and the natural maturation of the flagship title *Lords Mobile*.
*Lords Mobile* remains the company's core asset, accounting for approximately 80% of total turnover despite the broader financial downturn.
The company faced a net cash outflow of HK$140 million and a HK$114 million loss from investment valuation fluctuations, though core gaming operations returned to profitability by the second quarter of 2022.
IGG maintained a stable liquidity position with HK$1.67 billion in cash and a reduced gearing ratio of 21.3%, while opting to suspend interim dividends to preserve capital.
Revenue remains geographically diversified, with Asia and North America contributing 37% and 33% of total turnover, respectively.
The company is utilizing a 'Structured Contracts' framework through domestic entities Fuzhou Tianmeng and Xinhan Liaokuo to navigate Chinese regulatory restrictions, though these entities account for only 4.12% of total revenue.
IGG Inc. reported a net loss of HK$172 million for the first half of 2022, a significant reversal from the HK$577 million profit recorded during the same period in 2021.
Total revenue declined 23% year-on-year to HK$2.49 billion, primarily due to global economic pressures and the natural maturation of the flagship title *Lords Mobile*.
*Lords Mobile* remains the company's core asset, accounting for approximately 80% of total turnover despite the broader financial downturn.
The company faced a net cash outflow of HK$140 million and a HK$114 million loss from investment valuation fluctuations, though core gaming operations returned to profitability by the second quarter of 2022.
IGG maintained a stable liquidity position with HK$1.67 billion in cash and a reduced gearing ratio of 21.3%, while opting to suspend interim dividends to preserve capital.
Revenue remains geographically diversified, with Asia and North America contributing 37% and 33% of total turnover, respectively.
The company is utilizing a 'Structured Contracts' framework through domestic entities Fuzhou Tianmeng and Xinhan Liaokuo to navigate Chinese regulatory restrictions, though these entities account for only 4.12% of total revenue.