C 
0.07
-1.35%
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$446.5m
FY2016FY2025
Net income
−HK$71.2m
FY2016FY2025
Free cash flow
−HK$40.6m
FY2016FY2025
Shareholders' equity
−HK$754.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$446.5m | HK$992.4m | HK$1.41bn | HK$2.16bn | HK$8.44bn | HK$15.21bn | HK$15.22bn | HK$12.65bn | HK$12.06bn | HK$16.70bn |
| Research and development | — | — | — | HK$5,000 | HK$975,000 | HK$1.2m | HK$1.3m | HK$447,000 | HK$354,000 | HK$664,000 |
| Operating income | −HK$36.4m | HK$15.9m | −HK$169.8m | HK$18.4m | HK$3.08bn | −HK$1.56bn | −HK$3.40bn | −HK$4.37bn | −HK$1.56bn | −HK$2.02bn |
| Net income | −HK$71.2m | −HK$38.6m | −HK$147.6m | −HK$15.0m | HK$3.06bn | −HK$2.01bn | −HK$3.94bn | −HK$4.76bn | −HK$1.92bn | −HK$2.34bn |
| Diluted earnings per share | -0.04 | -0.02 | -0.08 | -0.01 | 1.68 | -1.10 | -2.16 | -2.61 | -1.05 | -1.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$485.5m | HK$645.0m | HK$1.01bn | HK$1.18bn | HK$1.31bn | HK$9.16bn | HK$9.68bn | HK$13.68bn | HK$19.17bn | HK$19.31bn |
| Cash and short-term investments | HK$18.0m | HK$110.6m | HK$39.3m | HK$33.2m | HK$79.8m | HK$320.9m | HK$217.4m | HK$218.7m | HK$218.2m | HK$297.3m |
| Total liabilities | HK$1.24bn | HK$1.35bn | HK$1.70bn | HK$1.67bn | HK$1.78bn | HK$12.40bn | HK$11.00bn | HK$10.85bn | HK$11.26bn | HK$9.92bn |
| Debt | HK$437.0m | HK$444.5m | HK$531.0m | HK$546.8m | HK$614.2m | HK$7.10bn | HK$6.67bn | HK$7.15bn | HK$7.56bn | HK$6.91bn |
| Shareholders' equity | −HK$754.8m | −HK$704.8m | −HK$695.0m | −HK$543.4m | −HK$531.3m | −HK$3.30bn | −HK$1.37bn | HK$2.77bn | HK$7.86bn | HK$9.34bn |
| Shares outstanding | 1,823m | 1,823m | 1,823m | 1,823m | 1,823m | 1,823m | 1,823m | 1,826m | 1,823m | 1,823m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$31.2m | −HK$22.8m | HK$20.4m | −HK$11.1m | −HK$63.2m | HK$188.8m | HK$82.0m | HK$7.8m | −HK$355.1m | −HK$106.6m |
| Capital spending | −HK$9.3m | −HK$10.7m | −HK$13.9m | −HK$5.1m | −HK$147.9m | −HK$264.4m | −HK$131.4m | −HK$82.8m | −HK$62.5m | −HK$137.7m |
| Free cash flow | −HK$40.6m | −HK$33.5m | HK$6.5m | −HK$16.2m | −HK$211.1m | −HK$75.6m | −HK$49.4m | −HK$74.9m | −HK$417.6m | −HK$244.2m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$248.5m | HK$191.1m | HK$255.4m | HK$453.4m | HK$539.0m | HK$641.2m | HK$769.7m | HK$1.18bn |
| Operating income | HK$13.5m | −HK$27.2m | HK$3.8m | HK$4.3m | HK$11.6m | −HK$140.1m | −HK$29.5m | −HK$12.1m |
| Net income | −HK$9.5m | −HK$60.4m | −HK$10.8m | −HK$28.5m | −HK$10.1m | −HK$127.4m | −HK$20.2m | −HK$4.4m |
| Diluted earnings per share | -0.01 | -0.03 | -0.01 | -0.02 | -0.01 | -0.07 | -0.01 | -0.00 |
| Cash from operations | HK$52.0m | −HK$25.0m | −HK$5.0m | −HK$22.0m | — | HK$27.0m | −HK$7.0m | −HK$22.0m |
| Capital spending | −HK$52.0m | −HK$8.0m | −HK$1.0m | −HK$4.0m | −HK$6.0m | −HK$8.0m | −HK$5.0m | −HK$2.0m |
| Free cash flow | HK$0 | −HK$33.0m | −HK$6.0m | −HK$26.0m | — | HK$19.0m | −HK$12.0m | −HK$24.0m |
| Total assets | HK$502.4m | HK$485.5m | HK$621.3m | HK$645.0m | HK$957.9m | HK$1.01bn | HK$1.14bn | HK$1.18bn |
| Cash and short-term investments | HK$19.8m | HK$18.0m | HK$111.2m | HK$110.6m | HK$31.7m | HK$39.3m | HK$26.3m | HK$33.2m |
| Debt | HK$432.8m | HK$437.0m | HK$438.3m | HK$444.5m | HK$526.8m | HK$531.0m | HK$531.6m | HK$546.8m |
| Shareholders' equity | −HK$819.0m | −HK$754.8m | −HK$716.0m | −HK$704.8m | −HK$727.1m | −HK$695.0m | −HK$540.8m | −HK$543.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -40.9% | -50.6% | -31.7% |
| Operating income | — | -52.8% | -34.6% |
| Net income | 68.0% | -48.7% | -31.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.4% | -3.4% | 4.7% | -11.9% |
| Net margin | -7.6% | -5.4% | 2.7% | -14.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.7 | -7.9 | -2.7 | -46.7 | 0.5 | -0.6 | -0.4 | -0.3 | -0.8 | -0.9 |
| Price to sales | 0.4 | 0.3 | 0.3 | 0.3 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 30 Aug 2011.
| FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.004 | 0.004 | 0.002 | 0.002 | 0.001 | 0.001 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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