Annual Report 2025: IGG Inc

Key insights

7 takeaways

01
IGG Inc. generated HK$5.5 billion in revenue and HK$590 million in net profit for 2025, maintaining a robust liquidity position with HK$2.41 billion in cash and zero interest-bearing debt.See it on page 7
02
The company returned HK$891 million to shareholders through dividends and share repurchases, representing 152% of the annual net profit.See it on page 16
03
Product revenue is driven by a diversified portfolio where 'Lords Mobile' contributed HK$2.17 billion, while newer titles 'Doomsday: Last Survivors' and 'Viking Rise' combined for HK$1.86 billion, accounting for 53% of total sales.See it on page 173
04
Operational efficiency improved significantly, with the gross profit margin rising to 83% as the cost of revenue decreased by 17%.See it on page 11
05
The company maintains a geographically balanced revenue stream with 41% of sales originating in Asia and no single customer accounting for more than 10% of total revenue.See it on page 174
06
Investment performance improved with a reversal from prior-year losses to HK$89 million in fair-value investment gains, despite a modest decline in total investment holdings to HK$554 million.See it on page 175
07
Corporate governance and risk management are supported by strict adherence to international data protection standards, including GDPR, PDPA, and CCPA/CPRA, alongside an executive-led ESG strategy.See it on page 58

Summary

IGG Inc. reported a stable 2025 performance, generating HK$5.5 billion in revenue and nearly HK$590 million net profit. The flagship mobile title “Lords Mobile” contributed HK$2.17 billion, while mid-generation games “Doomsday: Last Survivors” and “Viking Rise” added HK$1.14 billion and HK$720 million respectively, together accounting for 53% of sales. The APP business delivered HK$1.06 billion, and the new title “Fate War” showed early traction, underscoring a diversified portfolio that supports resilience in a competitive market.

Financially, gross profit margin improved to 83% as cost of revenue fell 17%, and fair-value investment gains surged to HK$89 million. Liquidity remained robust with HK$2.41 billion in cash and a low gearing ratio of 25.3%. Net operating cash fell to HK$683 million, yet dividends and share repurchases totaled HK$891 million—152% of annual profit—reflecting a shareholder-friendly policy. Investment holdings declined modestly to HK$554 million, with private-equity funds comprising a significant portion; net investment gains reversed from the prior year’s loss, driven by fair-value changes and dividends.

Governance and risk management were highlighted through comprehensive board oversight, regular committee meetings, and adherence to corporate governance codes. ESG integration is evident via an executive-led working group that embeds climate, information security, and IP protection into strategy, supported by a structured stakeholder engagement plan. Anti-corruption controls, supplier governance, and robust data-protection measures align with GDPR, PDPA, CCPA/CPRA, and Chinese regulations. Employee-centred CSR initiatives—mental-wellness services, gender support programs, and extensive club activities—demonstrate a commitment to workforce well-being.

Geographically, revenue is concentrated in Asia (41%) with significant contributions from Europe and North America; no single customer exceeds 10% of sales, indicating a diversified customer base. The company’s capital structure remains healthy, with no interest-bearing borrowings and a cash balance that supports ongoing investment and shareholder returns. Overall, IGG Inc. delivers solid financial results, maintains strong governance and ESG practices, and sustains a diversified product portfolio across key global markets.