Activation Group Holdings (HKSE:09919) Days Payable: 140.23 (As of Dec. 2025) — Near Median

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

HKSE:09919 Activation Group Holdings Ltd HKSE:09919
81 GF Score
Price HK$0.77
GF Value HK$1.26
Valuation Possible Value Trap
! 3 Warning Signs
View Full Analysis

What is Activation Group Holdings Days Payable?

Activation Group Holdings HKSE:09919 -0.65% 81 Days Payable is 140.23 as of Dec. 2025, which is 1% below its 10-year median of 141.62. GuruFocus rates HKSE:09919 with a GF Score™ of 81/100 and a GF Value™ of HK$1.26 (Possible Value Trap). The stock has 3 warning signs investors should review. Among 914 Media - Diversified companies, Activation Group Holdings ranks better than 73.19% on this metric.

Activation Group Holdings's average Accounts Payable for the six months ended in Dec. 2025 was HK$248.9 Mil. Activation Group Holdings's Cost of Goods Sold for the six months ended in Dec. 2025 was HK$323.9 Mil. Hence, Activation Group Holdings's Days Payable for the six months ended in Dec. 2025 was 140.23.

The historical rank and industry rank for Activation Group Holdings's Days Payable or its related term are showing as below:

HKSE:09919' s Days Payable Range Over the Past 10 Years
Min: 90.97   Med: 141.62   Max: 197.55
Current: 179.81

During the past 10 years, Activation Group Holdings's highest Days Payable was 197.55. The lowest was 90.97. And the median was 141.62.

HKSE:09919's Days Payable is ranked better than
73.19% of 914 companies
in the Media - Diversified industry
Industry Median: 81.23 vs HKSE:09919: 179.81

Activation Group Holdings's Days Payable increased from Dec. 2024 (119.23) to Dec. 2025 (140.23). It may suggest that Activation Group Holdings delayed paying its suppliers.


Activation Group Holdings Days Payable Historical Data

* Premium members only.

The historical data trend for Activation Group Holdings's Days Payable can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Activation Group Holdings Days Payable Chart

Activation Group Holdings Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Days Payable
Get a 7-Day Free Trial Premium Member Only Premium Member Only 103.36 197.39 173.24 197.55 193.90

Activation Group Holdings Semi-Annual Data
Dec16 Dec17 Jun18 Dec18 Jun19 Dec19 Jun20 Dec20 Jun21 Dec21 Jun22 Dec22 Jun23 Dec23 Jun24 Dec24 Jun25 Dec25
Days Payable Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 126.20 233.79 119.23 218.39 140.23

HKSE:09919 vs APP, OMC, TTD: Days Payable Comparison

For the Advertising Agencies subindustry, Activation Group Holdings's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


Activation Group Holdings Days Payable vs Media - Diversified Industry

For the Media - Diversified industry and Communication Services sector, Activation Group Holdings's Days Payable distribution charts can be found below:

* The bar in red indicates where Activation Group Holdings's Days Payable falls into.


HKSE:09919
81GF Score
Activation Group Holdings Ltd HKSE:09919
Days Payable is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Activation Group Holdings Days Payable Calculation

Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.

Activation Group Holdings's Days Payable for the fiscal year that ended in Dec. 2025 is calculated as

Days Payable (A: Dec. 2025 )
=Average Accounts Payable /Cost of Goods Sold*Days in Period
=( (Accounts Payable (A: Dec. 2024 ) + Accounts Payable (A: Dec. 2025 )) / count ) / Cost of Goods Sold (A: Dec. 2025 )*Days in Period
=( (314.644 + 272.018) / 2 ) / 552.159*365
=293.331 / 552.159*365
=193.90

Activation Group Holdings's Days Payable for the quarter that ended in Dec. 2025 is calculated as:

Days Payable (Q: Dec. 2025 )
=Average Accounts Payable / Cost of Goods Sold*Days in Period
=( (Accounts Payable (Q: Jun. 2025 ) + Accounts Payable (Q: Dec. 2025 )) / count ) / Cost of Goods Sold (Q: Dec. 2025 )*Days in Period
=( (225.803 + 272.018) / 2 ) / 323.931*365 / 2
=248.9105 / 323.931*365 / 2
=140.23

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Days Payable →
What does a Days Payable of 140.23 mean?
Activation Group Holdings (HKSE:09919) has a Days Payable of 140.23 as of Dec. 2025. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Activation Group Holdings and its competitors. This is near median its historical median of 141.62. Over the past decade, Activation Group Holdings' Days Payable has ranged from 90.97 to 197.55. According to the industry distribution chart, Activation Group Holdings ranks #245 out of 914 companies in the Media - Diversified industry, placing it in the top 26.8%.
Is Activation Group Holdings' Days Payable too high?
Activation Group Holdings' current Days Payable of 140.23 is near median its 10-year median of 141.62. Over the past 10 years, this metric has ranged from a low of 90.97 to a high of 197.55. The Media - Diversified industry median Days Payable is 81.23. Activation Group Holdings' value of 140.23 is 72.6% above this industry median. Based on the distribution chart, Activation Group Holdings ranks #245 out of 914 companies in the Media - Diversified industry, which is above the industry midpoint. Overall, Activation Group Holdings has a GF Score™ of 81/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Activation Group Holdings' Days Payable compare to APP and OMC?
According to the Media - Diversified industry distribution chart, Activation Group Holdings ranks #245 out of 914 companies for Days Payable. This puts Activation Group Holdings in the upper half of its industry. The industry median Days Payable is 81.23. Activation Group Holdings' value of 140.23 is 72.6% above this benchmark. Historically, Activation Group Holdings' own Days Payable has ranged from 90.97 to 197.55 over the past decade. While the company's 10-year median is 141.62 vs. the industry median of 81.23, Activation Group Holdings has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for a Media - Diversified company?
The median Days Payable among Media - Diversified companies is 81.23, based on 914 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Activation Group Holdings's current Days Payable of 140.23 is 72.6% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Activation Group Holdings and its competitors. For the Media - Diversified industry, the median Days Payable is 81.23 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Activation Group Holdings's current Days Payable is 140.23, which is near median its own 10-year median of 141.62. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Activation Group Holdings stock overvalued right now?
Based on GuruFocus' analysis, Activation Group Holdings (HKSE:09919) is currently considered Possible Value Trap. The stock's GF Value™ is HK$1.26, compared to a current price of HK$0.77 — trading 39.3% below its estimated fair value. The current Days Payable is 140.23, which is near median its 10-year median of 141.62 and 72.6% above the Media - Diversified industry median of 81.23. Activation Group Holdings' overall GF Score™ is 81/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Activation Group Holdings (HKSE:09919), the current Days Payable is 140.23 as of Dec. 2025. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Activation Group Holdings (HKSE:09919) Overvalued in 2026?

Based on GuruFocus' analysis, Activation Group Holdings stock appears to be undervalued. The current stock price of HK$0.77 is trading 39.3% below its estimated GF Value™ of HK$1.26. GuruFocus considers Activation Group Holdings to be Possible Value Trap.

Key valuation signals for HKSE:09919:

  • Days Payable: 140.23 (near median its 10-year median of 141.62)
  • GF Value™: HK$1.26 vs. price of HK$0.77 (39.3% below fair value)
  • GF Score™: 81/100 with 3 warning signs
  • Industry Position: 72.6% above the Media - Diversified median (#245 of 914)

No single metric tells the full story. See the HKSE:09919 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


Activation Group Holdings Business Description

Address No. 399A Liu Zhou Road, 8th Floor, Hengdi Cang International Building, Xuhui District, Shanghai, CHN, 200235
Activation Group Holdings Ltd is an integrated marketing solutions provider. The company focuses on the provision of experiential marketing, digital and brand communication, and public relations services. Its operating segment includes Experiential marketing services, Digital and communication services, and IP development. The company generates maximum revenue from Experiential marketing services. Geographically, it derives a majority of revenue from Chinese Mainland and also has a presence in Hong Kong/Singapore.
81GF Score

Get the complete analysis for HKSE:09919

Days Payable is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

HK$0.77
Price
HK$1.26
GF Value