Is IGG Inc profitable in 2025?

Yes. IGG posted FY2024 net profit of HK$580 million, up 697% YoY (reported 2025-03-26). FY2025 revenue was HK$5.5 billion, down about 4% YoY, but the company still returned roughly HK$890 million to shareholders, about 152% of annual profit, in 2025.

Who is IGG Inc's biggest competitor?

Century Games/FunPlus's Whiteout Survival is the most pressing threat, ranking #1 globally by mobile game revenue in June 2026 per Sensor Tower, directly contesting IGG's Lords Mobile and Doomsday: Last Survivors in the same survival-strategy genre.

Is Lords Mobile still growing for IGG?

Lords Mobile marked its 10-year anniversary in March 2026 and still generated HK$2.17 billion in 2025 revenue with 790 million cumulative registered users, but group-wide revenue fell about 4% YoY in FY2025 as newer rival titles gained ground.

Could AI replace IGG's game development team?

Unlikely near-term. IGG's core moat is 790 million cumulative Lords Mobile users, guild/social lock-in, and years of live-ops player data, none of which generative AI content tools directly displace, though AI is used industry-wide for art and localization by 2026.

IGG Inc trades publicly on HKEX as 0799.HK (OTC: IGGGF). Founder and Chairman Zongjian Cai remains a controlling shareholder through Duke Online Holdings, alongside co-founder Yuan Chi, per historical HKEX filings; no recent ownership change has been reported.

Is IGG Inc's stock price down a lot?

Yes. As of 2026-07-22, IGG shares traded between a 52-week low of HK$2.88 and high of HK$5.82, far below the stock's all-time high of HK$15.12, with market capitalization around HK$3.8 billion.

Gaming companies · Singapore

IGG Inc.

igg.com ↗

Hong Kong mobile game publisher behind Lords Mobile, Doomsday, and Viking Rise.

Losing its protection

Assessed 23 July 2026 · Evidence as of 23 July 2026

The structural protection is eroding.

On the recordSince 23 July 2026 · Checkable from August 2026 · Every call on the record Checkpoint: H1 2026 interim results, including Fate War and Doomsday revenue trajectory

The call

IGG still makes money off an aging hit while two newer survival games from other studios outrank its titles on the charts.

IGG Inc. makes mobile games, with Lords of Mobile being its biggest earner for ten years. The game has a loyal player base tied together by guilds and social connections, which normally protects it from competitors, but two rival games from other companies (Whiteout Survival and Last War: Survival) have taken over the top revenue spots in the same game type in 2025 and 2026. IGG's total revenue dropped about 4 percent last year, and the company is returning most of its profits to shareholders instead of investing heavily in new games. The company's future depends on whether its new games (Fate War and Doomsday) can grow fast enough to make up for Lords of Mobile slowing down while competitors keep winning.

Why

AI pressure: None apparent. AI tools speed up art and code production for IGG and rivals alike, no single AI product is pulling players away yet. Could AI do the core job? Unlikely.

Bigger players: Century Games/FunPlus (Whiteout Survival) and FUNFLY (Last War: Survival). Both rivals have taken the number one global mobile revenue spot in IGG's own survival strategy genre in 2026. Could a giant copy it? Probably.

What protects it. Lords Mobile's 790 million cumulative users and guild social ties still throw off HK$2.17 billion a year even as it ages.

What would change this call

IGG's H2 2026 interim results, typically reported August 2026. Shows whether group revenue decline continues or stabilizes and whether Lords Mobile decline steepens.
Fate War's monthly gross billing figures reported through 2026. Indicates whether new title compounds past HK$30M/month or stalls.
Top-grossing mobile chart rankings for Lords Mobile vs Whiteout Survival and Last War. Shows whether IGG regains genre-leading position or continues losing share.

Key numbers

FY2025 revenue HK$5.5 billion, down 4% YoY (2025-12-31)
Doomsday hit HK$130M monthly billing (2025-12-31)
Shareholder payout was 152% of profit (2025-12-31)

Named risks

FY2025 group revenue declined ~4% YoY while rival SLG titles topped global charts. Severity: high
Flagship Lords Mobile is 10 years old with revenue concentration still material to group total. Severity: medium
2025 shareholder payout equaled 152% of profit, signaling limited reinvestment conviction. Severity: medium
Conflicting headcount data (2,321 per company filings vs ~2,078 per Revelio Labs) clouds workforce trend. Severity: low
Rising industry-wide developer negativity toward generative AI (52% in 2026 vs 18% in 2024) could affect strategy/PR. Severity: low

Rivals, as read in July 2026

Rival	Direction	Evidence
Century Games / FunPlus (Whiteout Survival)	losing to	Whiteout Survival was #1 global grossing mobile game in June 2026 per Sensor Tower
FUNFLY (Last War: Survival)	losing to	Ranked #1-2 globally by revenue through late 2025 into March 2026 per Sensor Tower
Lilith Games (Rise of Kingdoms)	contesting	Longstanding SLG competitor in same genre, no recent ranking data available
Tencent / NetEase (broad mobile gaming incumbents)	contesting	Represent dominant-scale incumbents adjacent to IGG's strategy game category in 2026

Questions people ask

Is IGG Inc profitable in 2025?: Yes. IGG posted FY2024 net profit of HK$580 million, up 697% YoY (reported 2025-03-26). FY2025 revenue was HK$5.5 billion, down about 4% YoY, but the company still returned roughly HK$890 million to shareholders, about 152% of annual profit, in 2025.
Who is IGG Inc's biggest competitor?: Century Games/FunPlus's Whiteout Survival is the most pressing threat, ranking #1 globally by mobile game revenue in June 2026 per Sensor Tower, directly contesting IGG's Lords Mobile and Doomsday: Last Survivors in the same survival-strategy genre.
Is Lords Mobile still growing for IGG?: Lords Mobile marked its 10-year anniversary in March 2026 and still generated HK$2.17 billion in 2025 revenue with 790 million cumulative registered users, but group-wide revenue fell about 4% YoY in FY2025 as newer rival titles gained ground.
Could AI replace IGG's game development team?: Unlikely near-term. IGG's core moat is 790 million cumulative Lords Mobile users, guild/social lock-in, and years of live-ops player data, none of which generative AI content tools directly displace, though AI is used industry-wide for art and localization by 2026.
Who owns IGG Inc?: IGG Inc trades publicly on HKEX as 0799.HK (OTC: IGGGF). Founder and Chairman Zongjian Cai remains a controlling shareholder through Duke Online Holdings, alongside co-founder Yuan Chi, per historical HKEX filings; no recent ownership change has been reported.
Is IGG Inc's stock price down a lot?: Yes. As of 2026-07-22, IGG shares traded between a 52-week low of HK$2.88 and high of HK$5.82, far below the stock's all-time high of HK$15.12, with market capitalization around HK$3.8 billion.

Timeline

2026-06-30Whiteout Survival (Century Games/FunPlus) ranked #1 globally by mobile revenue per Sensor Tower
2026-05-27IGG AGM approved director re-elections, KPMG reappointment, 20% buyback/issuance mandate
2026-03-31Last War: Survival (FUNFLY) ranked #1-2 globally by revenue per Sensor Tower
2026-03-25Doomsday: Last Survivors hit record HK$130 million monthly gross billing (Dec 2025 figure reported)
2026-03Lords Mobile marked 10-year anniversary with Coca-Cola, Angry Birds, Pacific Rim IP tie-ins
2025-12-31FY2025 revenue reported at HK$5.5 billion, down about 4% year-on-year
2025-08-27Fate War reached HK$20 million gross billing within three weeks of launch
2025-03-26FY2024 annual profit reported up 697% YoY to HK$580 million
2015-07-07IGG transferred listing from GEM to HKEX Main Board
2013-10-18IGG listed on Hong Kong Stock Exchange GEM board

Revision history

23 July 2026

First assessed. Losing its protection. The text above is fixed as of this date and is not edited afterwards.

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