K 
0.13
+0.81%
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$98.0m
FY2017FY2026
Net income
−HK$45.7m
FY2017FY2026
Free cash flow
−HK$33.6m
FY2017FY2026
Shareholders' equity
HK$59.7m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$98.0m | HK$64.0m | HK$54.3m | HK$71.7m | HK$80.0m | HK$62.7m | HK$168.5m | HK$225.6m | HK$208.4m | HK$169.3m |
| Gross profit | HK$1.4m | HK$6.3m | HK$7.5m | HK$6.9m | HK$2.2m | −HK$6.9m | HK$9.3m | HK$64.4m | HK$57.2m | HK$48.7m |
| Operating income | −HK$41.2m | −HK$23.5m | −HK$20.6m | −HK$25.0m | −HK$26.1m | −HK$43.0m | −HK$39.7m | HK$42.5m | HK$39.8m | HK$35.7m |
| Net income | −HK$45.7m | −HK$23.8m | −HK$24.4m | −HK$31.3m | −HK$25.1m | −HK$44.7m | −HK$47.0m | HK$12.2m | HK$23.8m | HK$23.8m |
| Diluted earnings per share | -0.21 | -0.12 | -0.58 | -0.74 | -0.60 | -0.07 | -1.81 | 0.03 | 0.06 | 0.05 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$137.7m | HK$95.3m | HK$110.1m | HK$114.1m | HK$145.7m | HK$96.0m | HK$131.4m | HK$170.9m | HK$124.5m | HK$108.9m |
| Cash and short-term investments | HK$10.9m | HK$6.8m | HK$4.4m | HK$3.2m | HK$60.4m | HK$8.5m | HK$58.2m | HK$97.2m | HK$21.6m | HK$1.7m |
| Total liabilities | HK$77.9m | HK$68.0m | HK$63.6m | HK$41.5m | HK$41.5m | HK$51.2m | HK$72.0m | HK$42.7m | HK$83.2m | HK$70.0m |
| Debt | HK$9.7m | HK$21.7m | HK$22.5m | HK$15.5m | HK$25.4m | HK$35.8m | HK$52.5m | HK$25.7m | HK$56.8m | HK$42.8m |
| Shareholders' equity | HK$59.7m | HK$27.3m | HK$46.5m | HK$72.6m | HK$104.1m | HK$44.8m | HK$59.5m | HK$128.3m | HK$41.3m | HK$38.8m |
| Shares outstanding | 220m | 193m | 42m | 42m | 42m | 619m | 26m | 425m | 426m | 520m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$33.6m | −HK$11.6m | −HK$11.5m | −HK$50.0m | −HK$12.7m | −HK$12.7m | −HK$35.0m | −HK$550,000 | HK$27.1m | HK$8.2m |
| Capital spending | −HK$7,000 | −HK$33,000 | −HK$59,000 | −HK$2.4m | −HK$21,000 | −HK$18.6m | −HK$5.6m | −HK$1.5m | −HK$1.7m | −HK$1.2m |
| Free cash flow | −HK$33.6m | −HK$11.6m | −HK$11.6m | −HK$52.4m | −HK$12.8m | −HK$31.3m | −HK$40.5m | −HK$2.1m | HK$25.4m | HK$7.1m |
| Dividends paid | — | — | — | — | — | — | −HK$19.8m | −HK$19.8m | −HK$19.8m | −HK$19.8m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$81.3m | HK$16.7m | HK$23.8m | HK$40.2m | HK$31.8m | HK$22.5m | HK$34.4m | HK$37.3m |
| Gross profit | HK$1.6m | HK$1.3m | HK$1.0m | HK$5.3m | HK$5.2m | HK$2.2m | HK$5.3m | HK$3.5m |
| Operating income | −HK$23.5m | −HK$17.8m | −HK$16.2m | −HK$7.3m | −HK$9.2m | −HK$11.4m | −HK$10.7m | −HK$14.2m |
| Net income | −HK$26.3m | −HK$19.3m | −HK$13.6m | −HK$10.2m | −HK$9.8m | −HK$14.7m | −HK$13.1m | −HK$18.1m |
| Diluted earnings per share | -0.12 | -0.10 | -0.07 | -0.24 | -0.23 | -0.35 | -0.31 | -0.43 |
| Cash from operations | −HK$10.0m | −HK$23.0m | −HK$11.0m | −HK$1.0m | −HK$6.0m | −HK$5.0m | −HK$8.0m | −HK$40.0m |
| Capital spending | — | — | — | — | — | — | — | −HK$1.0m |
| Free cash flow | — | — | — | — | — | — | — | −HK$41.0m |
| Total assets | HK$137.7m | HK$100.9m | HK$95.3m | HK$98.8m | HK$110.1m | HK$110.1m | HK$114.1m | HK$125.3m |
| Cash and short-term investments | HK$10.9m | HK$5.5m | HK$6.8m | HK$42.9m | HK$4.4m | HK$4.6m | HK$3.2m | HK$4.4m |
| Debt | HK$9.4m | HK$25.4m | HK$21.7m | HK$21.5m | HK$22.5m | HK$16.6m | HK$15.5m | HK$20.4m |
| Shareholders' equity | HK$59.7m | HK$49.6m | HK$27.3m | HK$36.6m | HK$46.5m | HK$57.7m | HK$72.6m | HK$85.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.0% | 9.4% | -5.1% |
| Operating income | 18.2% | -0.8% | — |
| Net income | 13.4% | 0.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.8% | 7.7% | 4.0% | 17.6% |
| Operating margin | -40.0% | -38.3% | -41.7% | -5.6% |
| Net margin | -42.9% | -43.5% | -45.3% | -12.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.6 | -1.8 | -0.4 | -3.0 | -4.3 | -38.9 | -0.5 | 64.0 |
| Price to sales | 0.3 | 0.7 | 0.2 | 1.3 | 1.4 | 27.8 | 0.1 | 3.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Sept 2019.
| FY2020 | |
|---|---|
| Paid in the year | 0.444 |
- 20-to-1 reverse split · 31 Oct 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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