M 
0.39
—
Close of 9 Nov 2026, in HKD
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Reference data, closing prices and charts across 45,000 companies, plus crypto, commodities and currencies.
At a glance
Figures in HKD, from our data supplier.
Revenue
HK$483.2m
FY2016FY2025
Net income
−HK$163.6m
FY2016FY2025
Free cash flow
−HK$77.0m
FY2016FY2025
Shareholders' equity
HK$300.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$483.2m | HK$456.9m | HK$714.5m | HK$986.1m | HK$1.08bn | HK$901.1m | HK$1.32bn | HK$1.35bn | HK$1.43bn | HK$1.25bn |
| Gross profit | HK$131.0m | HK$152.4m | HK$308.7m | HK$406.6m | HK$518.6m | HK$351.2m | HK$468.5m | HK$465.8m | HK$469.3m | HK$449.3m |
| Research and development | HK$2.6m | HK$3.7m | HK$20.2m | HK$20.6m | HK$21.5m | HK$23.1m | HK$26.7m | HK$24.0m | HK$27.2m | HK$21.7m |
| Operating income | −HK$156.0m | −HK$271.5m | −HK$98.2m | HK$23.0m | HK$75.6m | HK$14.3m | HK$80.0m | HK$134.8m | HK$108.9m | HK$135.3m |
| Net income | −HK$163.6m | −HK$298.6m | −HK$102.6m | HK$6.2m | HK$55.1m | HK$10.6m | HK$143.0m | HK$135.0m | HK$112.7m | HK$122.7m |
| Diluted earnings per share | -0.22 | -0.39 | -0.14 | 0.01 | 0.07 | 0.01 | 0.19 | 0.18 | 0.15 | 0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$637.1m | HK$694.2m | HK$1.03bn | HK$1.26bn | HK$1.42bn | HK$1.37bn | HK$1.43bn | HK$1.56bn | HK$1.31bn | HK$1.18bn |
| Cash and short-term investments | HK$54.3m | HK$57.7m | HK$181.2m | HK$259.0m | HK$164.1m | HK$154.7m | HK$133.8m | HK$294.1m | HK$74.3m | HK$143.4m |
| Total liabilities | HK$349.9m | HK$199.6m | HK$180.1m | HK$227.5m | HK$289.0m | HK$258.7m | HK$291.1m | HK$478.0m | HK$279.5m | HK$202.3m |
| Debt | HK$112.5m | HK$77.5m | HK$49.6m | HK$67.6m | HK$85.5m | HK$95.4m | HK$103.1m | HK$293.4m | HK$56.8m | HK$1.4m |
| Shareholders' equity | HK$300.0m | HK$507.0m | HK$863.7m | HK$1.05bn | HK$1.13bn | HK$1.12bn | HK$1.14bn | HK$1.08bn | HK$1.02bn | HK$980.2m |
| Shares outstanding | 756m | 756m | 756m | 756m | 756m | 756m | 767m | 756m | 756m | 756m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$60.3m | −HK$60.8m | HK$32.2m | HK$229.2m | HK$207.7m | HK$120.2m | HK$172.6m | HK$159.1m | HK$76.2m | HK$169.4m |
| Capital spending | −HK$16.7m | −HK$25.0m | −HK$18.0m | −HK$32.3m | −HK$33.2m | −HK$44.7m | −HK$222.6m | −HK$72.8m | −HK$82.8m | −HK$25.2m |
| Free cash flow | −HK$77.0m | −HK$85.8m | HK$14.2m | HK$196.9m | HK$174.5m | HK$75.5m | −HK$50.0m | HK$86.3m | −HK$6.5m | HK$144.2m |
| Dividends paid | −HK$14.9m | −HK$34.0m | −HK$75.6m | −HK$75.6m | −HK$45.4m | −HK$34.0m | −HK$79.4m | −HK$75.6m | −HK$87.0m | −HK$132.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$305.2m | HK$245.2m | HK$238.0m | HK$262.6m | HK$194.3m | HK$381.7m | HK$190.8m | HK$332.8m |
| Gross profit | HK$119.2m | HK$40.4m | HK$90.6m | HK$77.4m | HK$74.9m | HK$154.8m | HK$77.4m | HK$153.9m |
| Operating income | HK$9.3m | −HK$155.9m | −HK$35.1m | −HK$102.4m | −HK$91.8m | −HK$48.4m | −HK$11.2m | −HK$7.1m |
| Net income | HK$4.9m | −HK$151.4m | −HK$12.2m | −HK$214.6m | −HK$84.0m | −HK$103.0m | −HK$51.5m | HK$414,000 |
| Diluted earnings per share | 0.01 | -0.20 | -0.02 | -0.28 | -0.11 | -0.14 | -0.07 | 0.00 |
| Cash from operations | −HK$23.0m | −HK$31.0m | −HK$29.0m | −HK$10.0m | −HK$49.0m | HK$68.0m | HK$34.0m | −HK$37.0m |
| Capital spending | −HK$5.0m | −HK$12.0m | −HK$3.0m | −HK$3.0m | −HK$21.0m | −HK$4.0m | −HK$2.0m | −HK$13.0m |
| Free cash flow | −HK$28.0m | −HK$43.0m | −HK$32.0m | −HK$13.0m | −HK$70.0m | HK$64.0m | HK$32.0m | −HK$50.0m |
| Total assets | HK$639.4m | HK$637.1m | HK$721.7m | HK$694.2m | HK$928.6m | HK$1.03bn | HK$1.03bn | HK$1.18bn |
| Cash and short-term investments | HK$21.7m | HK$54.3m | HK$46.1m | HK$57.7m | HK$84.5m | HK$181.2m | HK$181.2m | HK$138.8m |
| Debt | HK$32.4m | HK$112.5m | HK$154.8m | HK$77.5m | HK$70.3m | HK$49.6m | HK$4.2m | HK$58.2m |
| Shareholders' equity | HK$304.4m | HK$300.0m | HK$464.9m | HK$507.0m | HK$745.9m | HK$863.7m | HK$863.7m | HK$990.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -21.2% | -11.7% | -9.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 30.1% | 37.8% | 40.4% | 37.3% |
| Operating margin | -45.5% | -19.0% | -8.9% | 3.9% |
| Net margin | -49.2% | -21.2% | -10.7% | 3.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.2 | -1.9 | -7.4 | 364.3 | 35.7 | 164.3 | 19.2 | 16.1 | 19.8 | 20.2 |
| Price to sales | 0.8 | 1.2 | 1.1 | 2.3 | 1.8 | 1.9 | 2.1 | 1.6 | 1.6 | 2.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 24 years. Last went ex-dividend on 10 Sept 2025.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.02 | 0.075 | 0.18 | 0.10 | 0.06 | 0.045 | 0.105 | 0.10 |
- 1-to-1 reverse split · 21 May 2008
- 1-to-1 reverse split · 2 Oct 2007
- 1-to-1 reverse split · 21 May 2007
- 1-to-1 reverse split · 30 Aug 2006
- 10-to-1 reverse split · 3 May 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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