S 
0.37
-1.33%
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$6.37bn
FY2016FY2025
Net income
HK$167.1m
FY2016FY2025
Free cash flow
HK$946.3m
FY2016FY2025
Shareholders' equity
HK$2.92bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$6.37bn | HK$13.21bn | HK$17.13bn | HK$16.03bn | HK$12.83bn | HK$4.37bn | HK$5.80bn | HK$6.74bn | HK$5.99bn | HK$3.25bn |
| Gross profit | HK$1.07bn | HK$406.4m | HK$934.1m | HK$1.37bn | HK$2.34bn | HK$576.5m | HK$614.9m | HK$852.4m | HK$559.8m | HK$424.2m |
| Research and development | HK$50.8m | HK$77.0m | HK$116.8m | HK$84.0m | HK$72.3m | HK$43.1m | HK$24.9m | — | — | — |
| Operating income | HK$402.0m | −HK$619.2m | HK$28.9m | HK$584.5m | HK$1.08bn | −HK$316.0m | HK$222.4m | HK$556.5m | HK$365.7m | −HK$13.6m |
| Net income | HK$167.1m | −HK$725.1m | HK$64.1m | HK$336.1m | HK$454.6m | −HK$437.9m | −HK$217.2m | HK$330.9m | HK$140.9m | −HK$87.9m |
| Diluted earnings per share | 0.03 | -0.21 | 0.02 | 0.10 | 0.13 | -0.13 | -0.06 | 0.09 | 0.04 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$9.10bn | HK$8.79bn | HK$11.37bn | HK$11.45bn | HK$10.98bn | HK$9.06bn | HK$8.77bn | HK$9.62bn | HK$8.75bn | HK$8.93bn |
| Cash and short-term investments | HK$1.70bn | HK$402.3m | HK$1.15bn | HK$1.26bn | HK$1.12bn | HK$1.13bn | HK$1.10bn | HK$1.28bn | HK$677.3m | HK$1.01bn |
| Total liabilities | HK$6.60bn | HK$6.81bn | HK$8.54bn | HK$8.62bn | HK$7.94bn | HK$6.51bn | HK$5.93bn | HK$6.45bn | HK$5.79bn | HK$6.25bn |
| Debt | HK$3.65bn | HK$3.95bn | HK$5.12bn | HK$4.46bn | HK$4.11bn | HK$4.57bn | HK$4.16bn | HK$4.36bn | HK$3.75bn | HK$3.89bn |
| Shareholders' equity | HK$2.92bn | HK$2.36bn | HK$3.14bn | HK$3.17bn | HK$3.11bn | HK$2.52bn | HK$2.80bn | HK$3.10bn | HK$2.90bn | HK$2.61bn |
| Shares outstanding | 4,828m | 3,428m | 3,428m | 3,428m | 3,428m | 3,428m | 3,428m | 3,501m | 3,542m | 3,428m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$1.35bn | HK$1.60bn | −HK$319.8m | HK$935.9m | HK$1.60bn | HK$596.8m | HK$659.8m | HK$450.0m | HK$157.1m | HK$1.15bn |
| Capital spending | −HK$408.7m | −HK$590.7m | −HK$541.1m | −HK$1.05bn | −HK$706.4m | −HK$473.2m | −HK$510.6m | −HK$345.6m | −HK$308.0m | −HK$192.6m |
| Free cash flow | HK$946.3m | HK$1.01bn | −HK$860.9m | −HK$111.8m | HK$888.7m | HK$123.6m | HK$149.2m | HK$104.5m | −HK$150.9m | HK$957.7m |
| Dividends paid | — | — | — | −HK$1.8m | −HK$1.8m | −HK$1.8m | −HK$34.3m | −HK$34.3m | −HK$34.3m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$3.56bn | HK$3.46bn | HK$2.91bn | HK$7.48bn | HK$5.73bn | HK$9.40bn | HK$7.73bn | HK$7.02bn |
| Gross profit | HK$788.2m | HK$513.3m | HK$553.1m | HK$124.3m | HK$282.1m | HK$279.2m | HK$655.0m | HK$237.8m |
| Operating income | HK$527.5m | HK$151.3m | HK$250.7m | −HK$278.3m | −HK$54.4m | −HK$95.0m | HK$260.1m | −HK$89.1m |
| Net income | HK$359.1m | −HK$5.6m | HK$172.7m | −HK$562.3m | −HK$162.8m | −HK$70.8m | HK$134.9m | −HK$117.2m |
| Diluted earnings per share | 0.07 | -0.00 | 0.04 | -0.16 | -0.05 | -0.02 | 0.04 | -0.03 |
| Cash from operations | — | HK$712.0m | HK$642.0m | HK$686.0m | HK$911.0m | −HK$837.0m | HK$517.0m | HK$358.0m |
| Capital spending | — | −HK$408.0m | — | −HK$531.0m | — | −HK$530.0m | — | −HK$1.03bn |
| Free cash flow | — | HK$304.0m | — | HK$155.0m | — | −HK$1.37bn | — | −HK$671.0m |
| Total assets | HK$9.95bn | HK$9.10bn | HK$8.45bn | HK$8.79bn | HK$11.33bn | HK$11.37bn | HK$11.37bn | HK$11.45bn |
| Cash and short-term investments | HK$1.48bn | HK$1.70bn | HK$724.7m | HK$402.3m | HK$1.48bn | HK$1.15bn | HK$950.0m | HK$1.18bn |
| Debt | HK$2.60bn | HK$3.65bn | HK$3.59bn | HK$4.16bn | HK$5.21bn | HK$5.12bn | HK$4.16bn | HK$4.23bn |
| Shareholders' equity | HK$3.35bn | HK$2.92bn | HK$2.71bn | HK$2.36bn | HK$2.95bn | HK$3.14bn | HK$3.16bn | HK$3.17bn |
Financial ratios
Data as of 27 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 16.7% | 3.1% | 5.5% | 8.6% | 18.2% | 13.2% |
| Operating margin | 6.6% | -2.1% | 2.1% | 3.8% | 8.4% | -3.7% |
| Net margin | 2.6% | -5.5% | 0.4% | 2.1% | 3.5% | -10.0% |
| Return on equity | 5.7% | -30.7% | 2.0% | 10.6% | 14.6% | -17.4% |
| Return on assets | 1.8% | -8.3% | 0.6% | 2.9% | 4.1% | -4.8% |
| Free cash flow yield | 94.9% | 165.8% | 16.8% | 150.3% | 174.4% | 81.1% |
| Revenue growth | -51.8% | -22.9% | 6.9% | 24.9% | 193.8% | -24.7% |
| Earnings growth | -123.0% | -1230.4% | -80.9% | -26.1% | -203.8% | 101.7% |
| Current ratio | 0.74x | 0.69x | 0.88x | 0.89x | 0.79x | 0.93x |
| Debt to equity | 1.25x | 1.67x | 1.61x | 1.33x | 1.32x | 1.80x |
| Equity ratio | 32.1% | 26.9% | 27.6% | 27.7% | 28.3% | 27.8% |
| Interest coverage | 2.71x | -2.31x | 1.48x | 2.80x | 4.61x | -0.75x |
| R&D as a share of sales | 0.8% | 0.6% | 0.7% | 0.5% | 0.6% | 1.0% |
| Buybacks as a share of market value | -40.8% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.5% | 7.8% | 9.7% |
| Operating income | -11.7% | — | — |
| Net income | -20.8% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 7.5% | 7.2% | 9.6% | 9.6% |
| Operating margin | -1.1% | 0.8% | 1.7% | 2.0% |
| Net margin | -2.8% | -0.3% | -0.2% | -1.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.9 | -1.8 | 10.5 | 2.6 | 3.5 | -1.5 | -2.3 | 1.5 | 4.7 | -7.9 |
| Price to sales | 0.4 | 0.1 | 0.0 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 May 2019.
| FY2019 | FY2012 | |
|---|---|---|
| Paid in the year | 0.01 | 0.01 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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