3.02
-0.66%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in HKD, from our data supplier.
Revenue
HK$20.91bn
FY2016FY2025
Net income
HK$1.59bn
FY2016FY2025
Free cash flow
−HK$574.9m
FY2016FY2025
Shareholders' equity
HK$25.72bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$20.91bn | HK$21.31bn | HK$19.84bn | HK$20.07bn | HK$17.13bn | HK$12.83bn | HK$12.92bn | HK$11.79bn | HK$8.76bn | HK$7.18bn |
| Operating income | HK$1.38bn | HK$4.05bn | HK$3.41bn | HK$1.61bn | HK$1.87bn | HK$1.93bn | HK$1.76bn | HK$1.89bn | HK$1.53bn | HK$1.71bn |
| Net income | HK$1.59bn | HK$1.61bn | HK$1.57bn | HK$964.9m | HK$1.25bn | HK$1.45bn | HK$1.31bn | HK$1.22bn | HK$1.37bn | HK$974.0m |
| Diluted earnings per share | 0.40 | 0.42 | 0.42 | 0.30 | 0.40 | 0.49 | 0.46 | 0.44 | 0.49 | 0.36 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$55.21bn | HK$53.04bn | HK$53.46bn | HK$52.94bn | HK$54.24bn | HK$42.89bn | HK$38.19bn | HK$34.01bn | HK$32.77bn | HK$28.03bn |
| Cash and short-term investments | HK$2.50bn | HK$2.73bn | HK$4.11bn | HK$4.08bn | HK$4.08bn | HK$2.34bn | HK$2.00bn | HK$1.70bn | HK$1.73bn | HK$1.58bn |
| Total liabilities | HK$27.05bn | HK$27.28bn | HK$28.23bn | HK$29.08bn | HK$29.06bn | HK$20.24bn | HK$17.89bn | HK$16.25bn | HK$15.58bn | HK$13.36bn |
| Debt | HK$17.34bn | HK$17.47bn | HK$18.56bn | HK$19.83bn | HK$19.54bn | HK$11.58bn | HK$10.35bn | HK$9.53bn | HK$8.83bn | HK$7.84bn |
| Shareholders' equity | HK$25.72bn | HK$23.45bn | HK$22.85bn | HK$21.50bn | HK$22.90bn | HK$20.72bn | HK$18.61bn | HK$16.23bn | HK$15.85bn | HK$13.50bn |
| Shares outstanding | 4,004m | 3,839m | 3,780m | 3,259m | 3,100m | 2,969m | 2,871m | 2,810m | 2,764m | 2,708m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$1.80bn | HK$2.35bn | HK$1.30bn | HK$1.80bn | HK$2.61bn | HK$2.71bn | HK$2.16bn | HK$1.28bn | HK$1.51bn | HK$1.67bn |
| Capital spending | −HK$2.37bn | −HK$3.84bn | −HK$4.72bn | −HK$3.37bn | −HK$2.78bn | −HK$2.37bn | −HK$2.33bn | −HK$2.31bn | −HK$1.82bn | −HK$1.90bn |
| Free cash flow | −HK$574.9m | −HK$1.49bn | −HK$3.42bn | −HK$1.57bn | −HK$177.9m | HK$343.0m | −HK$169.1m | −HK$1.03bn | −HK$309.0m | −HK$233.2m |
| Dividends paid | −HK$193.9m | −HK$170.9m | −HK$152.9m | −HK$122.3m | −HK$68.5m | −HK$72.6m | −HK$75.0m | −HK$107.9m | −HK$49.3m | −HK$62.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$11.33bn | HK$10.48bn | HK$10.44bn | HK$10.81bn | HK$10.50bn | HK$9.96bn | HK$9.88bn | HK$9.91bn |
| Operating income | HK$759.9m | HK$574.4m | HK$1.81bn | HK$2.17bn | HK$1.88bn | HK$1.73bn | HK$850.6m | HK$682.4m |
| Net income | HK$690.1m | HK$827.0m | HK$758.4m | HK$863.4m | HK$742.7m | HK$459.2m | HK$1.12bn | −HK$76.8m |
| Diluted earnings per share | 0.19 | 0.21 | 0.19 | 0.22 | 0.19 | 0.12 | 0.30 | -0.02 |
| Cash from operations | — | HK$1.18bn | HK$1.25bn | HK$1.43bn | HK$1.33bn | HK$1.01bn | HK$817.0m | HK$1.18bn |
| Capital spending | — | −HK$933.0m | −HK$1.43bn | −HK$1.78bn | −HK$2.06bn | −HK$2.79bn | −HK$1.93bn | −HK$2.01bn |
| Free cash flow | — | HK$250.0m | −HK$180.0m | −HK$351.0m | −HK$722.0m | −HK$1.77bn | −HK$1.11bn | −HK$828.0m |
| Total assets | HK$57.74bn | HK$55.21bn | HK$55.24bn | HK$53.04bn | HK$53.64bn | HK$53.46bn | HK$54.63bn | HK$52.94bn |
| Cash and short-term investments | HK$3.41bn | HK$2.50bn | HK$3.33bn | HK$2.73bn | HK$3.88bn | HK$4.11bn | HK$4.25bn | HK$4.08bn |
| Debt | HK$8.21bn | HK$17.34bn | HK$18.38bn | HK$17.47bn | HK$18.81bn | HK$18.56bn | HK$21.44bn | HK$19.83bn |
| Shareholders' equity | HK$26.66bn | HK$25.72bn | HK$24.21bn | HK$23.45bn | HK$22.49bn | HK$22.85bn | HK$21.41bn | HK$21.50bn |
Financial ratios
Data as of 1 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 6.6% | 19.0% | 17.2% | 8.0% | 10.9% | 15.1% |
| Net margin | 7.6% | 7.5% | 7.9% | 4.8% | 7.3% | 11.3% |
| Return on equity | 6.2% | 6.8% | 6.9% | 4.5% | 5.5% | 7.0% |
| Return on assets | 2.9% | 3.0% | 2.9% | 1.8% | 2.3% | 3.4% |
| Free cash flow yield | 35.0% | 54.2% | 53.6% | 53.3% | 58.4% | 57.5% |
| Revenue growth | -1.9% | 7.4% | -1.2% | 17.2% | 33.5% | -0.8% |
| Earnings growth | -1.3% | 2.0% | 63.2% | -23.0% | -13.4% | 10.6% |
| Current ratio | 0.50x | 0.61x | 0.56x | 0.46x | 0.44x | 0.43x |
| Debt to equity | 0.67x | 0.74x | 0.80x | 0.92x | 0.85x | 0.56x |
| Equity ratio | 46.6% | 44.2% | 42.7% | 40.6% | 42.2% | 48.3% |
| Interest coverage | 2.14x | 5.62x | 4.43x | 2.14x | 3.17x | 4.53x |
| Buybacks as a share of market value | -4.3% | -1.6% | -16.0% | -5.1% | -4.4% | -3.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.4% | 10.3% | 10.5% |
| Operating income | -4.9% | -6.4% | 3.1% |
| Net income | 18.0% | 1.8% | 7.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 12.9% | 12.7% | 12.7% | 13.8% |
| Net margin | 7.6% | 7.0% | 7.5% | 8.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.8 | 7.7 | 7.8 | 13.2 | 16.8 | 7.2 | 11.8 | 13.3 | 12.7 | 11.3 |
| Price to sales | 0.7 | 0.6 | 0.6 | 0.6 | 1.2 | 0.8 | 1.2 | 1.4 | 2.0 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 17 years. Last went ex-dividend on 31 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.19 | 0.08 | 0.16 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 |
- 6-for-5 split · 17 Apr 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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