FingerTango Inc. (06860) reported a reversal into the red for the year ended 31 December 2025, recording a net loss of RMB35.30 million versus a RMB32.84 million profit in 2024.

Revenue fell 36.2% to RMB388.60 million, weighed down by the maturing of legacy titles and the absence of new domestic launches. Self-publishing revenue declined 42.2% to RMB187.46 million, while co-publishing revenue slipped 29.4% to RMB201.13 million. Gross profit contracted 46.0% to RMB186.61 million, and gross margin narrowed to 48.0% (2024: 56.8%) as fixed licence amortisation costs proved less flexible amid falling sales.

Operating metrics deteriorated: average monthly active users dropped 55.7% to 1.50 million and monthly paying users fell 35.9% to 67,664, yet ARPPU stayed broadly flat at RMB479 (-0.4%), signalling resilience among core spenders. Total registered users edged up 3.8% to 271 million.

Cost controls partly mitigated revenue pressure. Selling and marketing expenses were cut 54.3% to RMB101.88 million, reducing the ratio to revenue from 36.6% to 26.2%. However, higher research & development spending (+13.6% to RMB73.52 million) on pipeline enhancements and a 26.8% rise in administrative costs to RMB67.40 million offset these savings. Other income fell 40.6% to RMB20.42 million, reflecting lower interest income and the absence of prior-year reversals of receivable provisions.

Balance-sheet liquidity stayed strong. Cash and cash equivalents stood at RMB325.79 million, supplemented by RMB340.43 million in time deposits, giving total cash of RMB666.22 million and a current ratio of 5.4. The group remains debt-free.

Management is withholding domestic game launches until market conditions improve while refining its simulation-genre pipeline and advancing AI-driven development tools. Overseas expansion continues, with a newly signed title slated for testing in 1H 2026. No final dividend was declared for 2025.