Qingci Games entered this earnings release with the stock up strongly over the past three months, yet still priced on a P/E of 5.1x, far below peers. The market has been treating it as a cheap, possibly one-off story. The headline from this half is clear: net income excluding extra items came in at CN¥315.284m and basic EPS at CN¥0.46, both set against a trailing twelve-month picture that was heavily influenced by a CN¥443.8m non-recurring gain.

Is Qingci Games a rare value opportunity at a 5.1x P/E, or does the one off CN¥443.8m gain make the shares look cheaper than they are? Compare the stock’s current earnings power with our valuation analysis for Qingci Games

H1 2026 Earnings Summary

• Revenue (H1 2026 vs. H1 2025): CN¥169.73m vs. CN¥247.18m (change reflects a lower H1 2026 revenue level)
• Net Income Excluding Extra Items (H1 2026 vs. H1 2025): CN¥315.284m vs. CN¥70.257m (increase of more than four times)
• Basic EPS (H1 2026 vs. H1 2025): CN¥0.46 vs. CN¥0.101625 (increase of more than four times)
• Net Profit Margin, Trailing 12 Months (Latest vs. Prior Year): 96.9% vs. 14.3% (margin expansion that is heavily affected by a one-off CN¥443.8m gain)

Prefer clean charts instead of a dense wall of earnings figures and one-off gains? See Qingci Games’ full valuation snapshot in an easy visual format in our company report for Qingci Games.

Qingci Games results that support the optimistic view

For bullish investors, Qingci Games offers two clear supports. First, earnings power stepped up, with net income excluding extra items at CN¥315.284m and basic EPS at CN¥0.46 for H1 2026. That sits against a prior year half that was far lower. Second, the trailing 12 month net profit margin of 96.9% points to very high profitability, even if boosted by the CN¥443.8m one off gain. Together with positive 3 month share price momentum, the story of an efficient, cash generative mobile publisher still resonates.

Qingci Games risks that keep caution in play

The bearish side will focus on the revenue line. H1 2026 revenue of CN¥169.73m is below the CN¥247.18m recorded in H1 2025, which raises questions about top line traction for Qingci Games in a hit driven sector. Profitability also leans heavily on that CN¥443.8m non recurring gain, which inflates the trailing 12 month margin to 96.9%. That mix of softer revenue and one off supported earnings suggests investors should treat the current income profile with care.

Compare Qingci Games’ improved earnings power and high reported margin against current institutional sentiment. See the consensus price target analysis for Qingci Games

Stay Ahead With Qingci Games Insights

If the mix of a low P/E, a large one off gain and shifting revenue for Qingci Games has caught your eye, register for free with Simply Wall St and add it to a Watchlist to track price against fair value and watch for a more comfortable entry point. After you own the stock, keep your decisions focused with the Portfolio Command Center that filters out noise and highlights the updates that matter most for your holdings. For a longer term view, tap into crowd wisdom through the Community and see how other investors are thinking about earnings quality, risks and potential catalysts. By spotting hidden drivers and red flags early, you give yourself a better chance to stay ahead of the market.

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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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