olivLaw · US equity research
TJGC Group Limited TJGC
Services-Advertising Agencies · SIC 7311 · Vertical: Services-Advertising Agencies (SIC 7311)
TJGC Group Limited is an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market. The company is extending into game development and consulting, in a context where its operations continuity rests on a fragile funding and results base, with an operating loss of HK$23.5 million in fiscal 2026.
The AI analysis may be outdated: new filings came after its sources (see the «AI analysis» section).
At the close of 03 Nov 2026, TJGC Group Limited (TJGC) stock was 31.89 USD (+0.00% on the day), with market capitalisation 487.9 m USD, beta 1.33, 52-week range 1.50–34.80 USD.
Data as of · AI analysis dated · Source: SEC filings and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 65.6
- strong (55–70)
- Bollinger (20, 2)
- 31.01 – 33.15
- in the lower half of the band · %B 0.41 · band width 6.7%
- SMA 50 / 200
- 23.19 / 8.67
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 2.12 / 2.87
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | S&P 500 | vs S&P 500 | Vertical median | |
|---|---|---|---|---|
| 1 month | −4.2% | −1.1% | −3.1 pp | — |
| 3 months | +495.0% | −0.5% | +495.4 pp | — |
| 6 months | +510.9% | +4.4% | +506.5 pp | — |
| Year to date | +1,061.7% | +12.3% | +1,049.4 pp | — |
| 1 year | +952.5% | +13.5% | +938.9 pp | −9.5% |
| 3 years | unavailable | +76.4% | unavailable | −2.2% |
| 5 years | unavailable | +63.7% | unavailable | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 | 2026 |
|---|---|---|---|
| Revenue | unavailable | 3.9 m | 3.7 m |
| Revenue YoY | unavailable | unavailable | −6.5% |
| Net income | unavailable | -3.4 m | -3.0 m |
| Net income YoY | unavailable | unavailable | unavailable |
| Diluted EPS | unavailable | -0.26 | -0.59 |
| Diluted EPS YoY | unavailable | unavailable | unavailable |
| net % | unavailable | -88.1% | -81.8% |
| Free cash flow | unavailable | unavailable | -3.8 m |
Reported results vs expectations
Loading…
Balance sheet & financial health
Fiscal year 2026 · 31 Mar 2026
- Cash
- 330.9 k USD
- Financial debt
- 3.2 m USD
- Net debt
- 2.8 m USD
- Equity
- 789.2 k USD
- Total assets
- 4.5 m USD
- Debt / equity
- 4.03x
- Current ratio
- 1.08x
- ROE
- -130.2%
- ROA
- -61.1%
- FCF margin
- -103.3%
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Revenue | — | 3.9 m | 3.7 m | SEC (XBRL)· 22 Jul 2026verified |
| Cost of revenue | — | 3.1 m | 2.9 m | SEC (XBRL)· 22 Jul 2026verified |
| Gross profit | — | 846.6 k | 788.9 k | SEC (XBRL)· 22 Jul 2026verified |
| Research & development | — | — | 550.0 k | SEC (XBRL)· 22 Jul 2026verified |
| Operating income | — | -3.4 m | -2.9 m | SEC (XBRL)· 22 Jul 2026verified |
| Interest expense | 37.9 k | 37.9 k | 86.2 k | SEC (XBRL)· 22 Jul 2026verified |
| Pre-tax income | — | -3.4 m | -3.0 m | SEC (XBRL)· 22 Jul 2026verified |
| Income tax | — | 32.6 k | 32.6 k | SEC (XBRL)· 22 Jul 2026verified |
| Net income | — | -3.4 m | -3.0 m | SEC (XBRL)· 22 Jul 2026verified |
| Diluted EPS | — | -0.26 | -0.59 | SEC (XBRL)· 22 Jul 2026verified |
| Weighted average diluted shares | 13.0 m | 4.5 m | 5.1 m | SEC (XBRL)· 22 Jul 2026verified |
Balance sheet · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Cash | 561.6 k | 3.0 m | 330.9 k | SEC (XBRL)· 22 Jul 2026verified |
| Receivables | — | 328.6 k | 536.9 k | SEC (XBRL)· 22 Jul 2026verified |
| Current assets | — | 4.3 m | 3.1 m | SEC (XBRL)· 22 Jul 2026verified |
| Property, plant & equipment, net | — | 24.7 k | 15.6 k | SEC (XBRL)· 22 Jul 2026verified |
| Total assets | — | 5.3 m | 4.5 m | SEC (XBRL)· 22 Jul 2026verified |
| Accounts payable | — | 165.4 k | 213.5 k | SEC (XBRL)· 22 Jul 2026verified |
| Short-term debt | — | 117.4 k | 1.2 m | SEC (XBRL)· 22 Jul 2026verified |
| Long-term debt | — | 1.0 m | 2.0 m | SEC (XBRL)· 22 Jul 2026verified |
| Current liabilities | — | 601.0 k | 2.9 m | SEC (XBRL)· 22 Jul 2026verified |
| Total liabilities | — | 1.5 m | 3.7 m | SEC (XBRL)· 22 Jul 2026verified |
| Equity | — | 3.8 m † | 789.2 k † | SEC (XBRL)· 22 Jul 2026verified |
| Shares outstanding at year end | — | 15.3 m | 15.3 m | SEC (XBRL)· 22 Jul 2026verified |
† equity attributable to the parent's shareholders: in these years the issuer no longer reports the total including non-controlling interests.
Cash flow · USD
| Line | 2024 | 2025 | 2026 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | — | -4.5 m | -3.7 m | SEC (XBRL)· 22 Jul 2026verified |
| Capex | — | — | 73.0 k | SEC (XBRL)· 22 Jul 2026verified |
| Free cash flow | — | — | -3.8 m ≈ | SEC (XBRL)· 22 Jul 2026derived |
| Investing cash flow | — | — | -209.2 k | SEC (XBRL)· 22 Jul 2026verified |
| Financing cash flow | — | 7.0 m | 1.2 m | SEC (XBRL)· 22 Jul 2026verified |
| Dividends paid | 3.0 m | — | — | SEC (XBRL)· 15 Aug 2025verified |
≈ computed by olivLaw from the reported lines of the same year: Operating cash flow − Capex.
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 5 of at least 6
- score weight coverage: 35.4% of at least 60%
- valuation methods computed: 0 of at least 1
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 487.9 m USD
Key indicators
Coverage and freshness
Score by group
35% · Insufficient data
Estimated value range
unavailable — no valuation method could be computed
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
- DCF (discounted cash flow)unavailable · the base of the ratio is not positive
- Peers: EV/EBITDAunavailable · input data missing
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · input data missing
no valuation method could be computed
Classification (SIC) comparables group by industry code, not by economic activity; the direct group is an editorial selection by activity. Members' multiples are on their own trailing twelve months, at their own latest close.
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | -86.3% | 0 (on a fixed band) | 29% |
| Net margin · Quality | -81.8% | 13 (vs peers) | 18% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | -33.2x | 0 (on a fixed band) | 18% |
| Current ratio · Balance sheet | 1.1x | 23 (on a fixed band) | 12% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | -0.8% | 0 (on a fixed band) | 24% |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet9/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality5/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial0/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
TJGC Group Limited (TJGC). Latest full fiscal year: 2026; data up to 2026-03-31.
Figures computed from the financial statements: revenue 3.7 m USD in 2026; YoY growth -6.5%; net margin -81.8%; ROE -130.2%.
Valuation cannot be computed from the available data.
Insufficient data for a verdict (indicators available: 5 of at least 6; score weight coverage: 35.4% of at least 60%; valuation methods computed: 0 of at least 1).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- ROIC: -86.3%
- Net margin: -81.8%
- Interest coverage: -33.2x
- Current ratio: 1.1x
- FCF yield: -0.8%
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, P/E (TTM), EV/EBITDA, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Services-Advertising Agencies (SIC 7311) · same industry (4-digit SIC) · compared with 8 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| OMCOmnicom Group Inc. | 23.9 bn | 50.9 | 9.7% | 2.8% | +10.1% | +22% / +9% |
| STGWStagwell Inc | 2.7 bn | 281.5 | 1.3% | 0.3% | +2.4% | +105% / +119% |
| CRTOCriteo S.A. | 769.7 m | 11.4 | 6.3% | 4.0% | +0.6% | −21% / −37% |
| GRPNGroupon, Inc. | 703.9 m | — | — | -25.3% | +1.2% | +2% / +53% |
| TJGCTJGC Group Limited | 487.9 m | — | -130.2% | -81.8% | −6.5% | +952% / unavailable |
| VSMEVS MEDIA Holdings Ltd | 36.9 m | — | -317.9% | -114.5% | −8.8% | −95% / −99% |
| SWAGStran & Company, Inc. | 24.4 m | 396.0 | 0.2% | 0.0% | +40.6% | −35% / −2% |
| WPPWPP plc | — | — | -7.1% | -1.6% | −8.1% | +42% / −37% |
| HAOHaoxi Health Technology Limited | — | — | -54.1% | -17.4% | +67.1% | −100% / unavailable |
1- and 3-year price returns: for TJGC from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (USD)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 3 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
| 5 years | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable | insufficient data Total return unavailable · Per year unavailable |
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 22 Jul 2026; since then the company filed 6-K (22 Oct 2026), 6-K (24 Sept 2026), 6-K (16 Sept 2026), 6-K (11 Aug 2026), 6-K (10 Aug 2026), 6-K (07 Aug 2026).
In brief
TJGC Group Limited is an integrated marketing and advertising services provider in Hong Kong specializing in mobile games promotion for the local market. The company is extending into game development and consulting, in a context where its operations continuity rests on a fragile funding and results base, with an operating loss of HK$23.5 million in fiscal 2026 1.
SWOT
Strengths
- The integrated service from concept to monitoring reduces coordination costs for clients.
- Direct relationships with local media publishers allow purchase of advertising space on favorable terms.
- Knowledge of the local Hong Kong market allows materials to be adapted for audiences and clients from outside the city.
Weaknesses
- Revenue is largely project-based and non-recurring, making results hard to anticipate.
- The company reported significant operating losses and an accumulated deficit, raising doubts about going concern.
- Reliance on the local market and on clients from China creates geographic and client concentration.
Opportunities
- If mobile game development succeeds, the company could become a direct market player and diversify revenue.
- Expansion through Tongjiang Group into emerging markets could create new revenue streams.
- Running exhibitions and events could attract new clients and media coverage.
Threats
- Intense competition can lead to price cuts and pressure on margins.
- Sudden policy changes by platforms or regulators could reduce client budgets.
- Nasdaq listing requirements and legal risks in Hong Kong and China could affect access to capital.
Risks
- Going concernhigh
The auditor included a paragraph about substantial doubt over the company's ability to continue as a going concern. If it cannot raise additional funds, it may be forced to scale back operations.
- Nasdaq listing compliancemedium
The company received a minimum bid price notice and later regained compliance. A late interim filing could lead to further action by the exchange.
- Project dependencemedium
Revenue depends on contracts won successively from clients. Losing important clients could quickly affect results.
- Dilution riskhigh
The 2026 share issuance and the need for additional capital could dilute existing shareholders. Certain shareholders hold substantial influence over decisions.
- Regulatory and political riskhigh
Operations in Hong Kong are subject to an evolving legal framework. Chinese authorities may influence operations, and access for US auditor inspections could be limited.
Investment thesis
What would need to be true (bull case)
- If its leading local position in mobile game advertising holds, the company could benefit from Chinese clients seeking alternative markets.
- The reduced development contract and the regained Nasdaq compliance could indicate more careful cost management.
- If game development or Tongjiang expansion succeeds, the company could move beyond its dependence on local advertising.
What would break the thesis
- Operating losses and the accumulated deficit could force further share issuances with significant dilution.
- Non-recurring revenue and intense competition could pressure margins even if project volume grows.
- Regulatory and listing risks could reduce access to capital or the liquidity of the shares.
What to watch
- Confirmation that the audit no longer carries going concern doubtsnext 10-K
- Launch of the game platform and the results achieved2027
- Whether the new public offering under the Form F-1 is completed and on what terms2026
- Advertising revenue trends and margins after the reduced development contractQ1 2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
Possibly outdated: the newest document it read is from 22 Jul 2026; since then the company filed 6-K (22 Oct 2026), 6-K (24 Sept 2026), 6-K (16 Sept 2026), 6-K (11 Aug 2026), 6-K (10 Aug 2026), 6-K (07 Aug 2026).
The business
The company offers one-stop advertising services to mobile game developers, from planning and creation to placement and performance monitoring. In-house teams design and produce videos, animations and photographs, while the company contracts directly with local media publishers for advertising space. Its main operations run through CTRL Media in Hong Kong 1.
The company has begun exploring new directions through CTRL Solutions, CTRL Games and Tongjiang Group. CTRL Solutions handles advertising consulting and organized five exhibitions completed by March 31, 2026. CTRL Games aims to become a mobile game operator, but there is no guarantee the game in development will work or succeed 1.
Its clients are mainly from China, yet operations are concentrated in Hong Kong and no entity is located in mainland China. The company listed on the Nasdaq Capital Market after its January 2025 IPO and trades under the symbol TJGC 1.
Segments
Mobile game advertising
This is the core of the business, serving mobile game app developers. Services include creative concepts, local adaptation of materials and performance monitoring, and revenue is largely project-based and non-recurring 1.
Game development and exhibitions
This direction is still at an early stage. The game platform development contract was reduced to about US$1.9 million from US$2.1 million 1, and the company recorded an impairment of HK$4,312,000 on games development costs. Launch is expected during the year ending March 31, 2027 1.
Market context
The specialized mobile game advertising market in Hong Kong is occupied by a few players who compete with one another, and the company considers itself a major player with a significant market share 1. Distribution is dominated by third-party platforms such as YouTube, Apple App Store and Google Play Store, which set fees and content constraints that affect client budgets 1. Barriers to entry are low, making competition intense.
Regulatory changes in China on mobile game use could open or restrict opportunities for the company's clients, and their direction is hard to anticipate 1. Growth of the mobile gaming ecosystem remains an important factor, though it may be affected by third-party platform policies 1.
Trends
- Dominance of third-party platformsheadwind
Mobile game distribution is controlled by large platforms that can change fees and content rules. If these rules shift quickly, client advertising budgets could be affected 1.
- Chinese regulationmixed
Past restrictions on mobile games in China created demand for advertising in Hong Kong. However, the future direction of regulation is uncertain and could help or hurt the company 1.
- Technological change in the ecosystemheadwind
Rapid mobile technology change requires continuing investment in staff and new partnerships. If these investments do not translate into revenue, margins could be pressured 1.
- Diversification into new marketstailwind
The company is pursuing emerging markets through Tongjiang Group, including mainland China, Southeast Asia and the Middle East. If these efforts succeed, they could reduce reliance on the local market 1.
Competitive position
The company competes with other advertising agencies and with conventional marketing channels that could replace its services. Intensifying competition may lead to price cuts and margin erosion 1. The sources do not identify US-listed competitors.
Competitive advantages include integrated service, relationships with local media publishers and knowledge of Hong Kong market preferences. These advantages could weaken if large agents or platforms extend their offerings directly to clients 1.
- Other Hong Kong advertising agencies
Compete directly for mobile game client budgets; the sources do not identify them as US-listed entities.
- Conventional marketing channels
Compete indirectly, as clients may allocate budgets to other forms of promotion instead of digital advertising.
- Third-party distribution platforms
Not direct competitors, but they influence placement costs and rules, affecting the company's position.
- Other mobile game developers
Compete for player attention against the company's own game development project.
Links, dependencies and risks
Who the company is tied to, from its own SEC filings (customers, suppliers, production, partners, competitors, countries, regulation), from the 5 %+ holders' statements (13D/13G) and from what other companies say about it. Click a node for its evidence; on a listed company the graph moves to it.
Loading the links…
News & filings
In the press
No news in our archive over the last 180 days.
SEC filings
- Current report (foreign issuer)22 Oct 2026
- Current report (foreign issuer)24 Sept 2026
- Current report (foreign issuer)16 Sept 2026
- Current report (foreign issuer)11 Aug 2026
- Current report (foreign issuer)10 Aug 2026
- Current report (foreign issuer)07 Aug 2026
- Current report (foreign issuer)23 Jul 2026
- Annual report (foreign issuer)22 Jul 2026
- Current report (foreign issuer)02 Jul 2026
- Current report (foreign issuer)30 Jun 2026
Sources
- [1] Form 20-F, fiscal year ended 2026-03-31 · SEC / TJGC Group Limited · 22 Jul 2026
Figures computed by olivLaw from SEC filings and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.