Forgame

About Forgame

Forgame Holdings Limited operates as a developer and publisher of web and mobile games, primarily targeting the Chinese market. Founded in 2009 by Dong Feng Wang, the Guangzhou-based company has established a significant presence in the gaming sector. A major milestone in the company's history was its initial public offering (IPO) on the Hong Kong Stock Exchange on October 3, 2013, which raised approximately $206 million. The IPO was substantially oversubscribed, reflecting strong investor confidence at the time.

The company's business model integrates game development with its own publishing platform, 91wan. This platform has been instrumental in distributing Forgame's self-developed titles as well as licensed games, attracting a massive player base that exceeded 179 million registered users by mid-2013. Forgame generates revenue through an item-based model, where games are free to play, and users can purchase virtual items to enhance their gameplay experience. The company's distribution network includes partnerships with major web platforms like Tencent and Qihoo360, which helps to broaden the reach of its games.

Initially focused on web games, Forgame has expanded its operations to include a growing mobile game business and has also ventured into the fintech sector. In December 2016, the company secured a license to operate an internet micro-lending business in the PRC. More recently, in 2019, Forgame began exploring opportunities in e-sports and virtual reality. Beyond gaming and fintech, the company is also involved in the trading of electronic devices and semiconductors. Despite its historical success, recent financial reports indicate challenges, with the company reporting a net loss for the first half of 2025.