I 
0.04
-10.20%
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$538.7m
FY2016FY2025
Net income
−HK$490.0m
FY2016FY2025
Free cash flow
−HK$287.6m
FY2016FY2025
Shareholders' equity
−HK$2.37bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$538.7m | HK$584.5m | HK$597.9m | HK$895.2m | HK$989.2m | HK$1.07bn | HK$1.16bn | HK$1.16bn | HK$1.26bn | HK$1.41bn |
| Research and development | — | — | HK$1.0m | HK$4.0m | HK$4.0m | HK$4.1m | HK$1.6m | — | — | — |
| Operating income | −HK$360.3m | −HK$412.8m | −HK$431.8m | −HK$381.3m | −HK$307.1m | −HK$234.0m | −HK$363.7m | −HK$489.2m | −HK$443.9m | −HK$312.4m |
| Net income | −HK$490.0m | −HK$553.3m | −HK$589.3m | −HK$885.7m | −HK$363.7m | −HK$275.4m | −HK$397.0m | −HK$455.6m | −HK$362.8m | −HK$312.8m |
| Diluted earnings per share | -0.07 | -0.08 | -0.08 | -0.12 | -0.05 | -0.04 | -0.06 | -0.07 | -0.08 | -0.11 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$867.1m | HK$882.5m | HK$945.2m | HK$879.5m | HK$1.49bn | HK$1.61bn | HK$1.88bn | HK$1.68bn | HK$2.06bn | HK$1.63bn |
| Cash and short-term investments | HK$180.6m | HK$80.0m | HK$63.3m | HK$81.7m | HK$176.4m | HK$157.4m | HK$296.7m | HK$177.8m | HK$584.7m | HK$105.8m |
| Total liabilities | HK$3.24bn | HK$2.76bn | HK$2.27bn | HK$1.62bn | HK$1.34bn | HK$1.24bn | HK$1.24bn | HK$954.1m | HK$934.9m | HK$1.12bn |
| Debt | HK$2.72bn | HK$2.28bn | HK$1.84bn | HK$1.18bn | HK$892.1m | HK$773.5m | HK$812.5m | HK$495.0m | HK$495.0m | HK$590.0m |
| Shareholders' equity | −HK$2.37bn | −HK$1.88bn | −HK$1.33bn | −HK$739.5m | HK$146.1m | HK$365.2m | HK$640.0m | HK$723.5m | HK$1.13bn | HK$505.4m |
| Shares outstanding | 7,132m | 7,135m | 7,135m | 7,135m | 7,135m | 7,135m | 7,135m | 6,297m | 4,697m | 2,937m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$235.6m | −HK$221.2m | −HK$287.2m | −HK$88.9m | −HK$58.8m | HK$110.0m | −HK$160.2m | −HK$183.6m | −HK$206.5m | HK$84.2m |
| Capital spending | −HK$52.0m | −HK$113.5m | −HK$119.7m | −HK$162.7m | −HK$155.5m | −HK$108.4m | −HK$181.7m | −HK$252.0m | −HK$293.9m | −HK$353.1m |
| Free cash flow | −HK$287.6m | −HK$334.7m | −HK$407.0m | −HK$251.6m | −HK$214.3m | HK$1.6m | −HK$341.9m | −HK$435.6m | −HK$500.4m | −HK$268.9m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.27bn | HK$1.27bn | HK$261.2m | HK$1.27bn | HK$277.5m | HK$307.3m | HK$277.2m | HK$334.5m |
| Operating income | HK$99.2m | HK$99.2m | −HK$203.8m | HK$99.2m | −HK$156.9m | −HK$221.0m | −HK$188.7m | −HK$314.3m |
| Net income | HK$90.6m | HK$90.6m | −HK$273.2m | HK$90.6m | −HK$216.8m | −HK$298.4m | −HK$254.9m | −HK$392.3m |
| Diluted earnings per share | 0.03 | 0.03 | -0.04 | 0.01 | -0.03 | -0.04 | -0.04 | -0.05 |
| Cash from operations | — | — | −HK$125.0m | — | −HK$109.0m | −HK$78.0m | −HK$151.0m | −HK$191.0m |
| Capital spending | — | — | −HK$25.0m | — | −HK$26.0m | −HK$37.0m | −HK$29.0m | −HK$37.0m |
| Free cash flow | — | — | −HK$150.0m | — | −HK$135.0m | −HK$115.0m | −HK$180.0m | −HK$228.0m |
| Total assets | — | — | HK$867.1m | — | HK$851.8m | HK$882.5m | HK$950.8m | HK$945.2m |
| Cash and short-term investments | — | — | HK$180.6m | — | HK$121.3m | HK$80.0m | HK$92.0m | HK$75.4m |
| Debt | — | — | HK$2.72bn | — | HK$2.47bn | HK$2.28bn | HK$2.13bn | HK$1.84bn |
| Shareholders' equity | — | — | −HK$2.37bn | — | −HK$2.10bn | −HK$1.88bn | −HK$1.58bn | −HK$1.33bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.6% | -12.8% | -9.8% |
| Operating income | -1.9% | 9.0% | 4.0% |
| Net income | -17.9% | 12.2% | 7.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -68.8% | -60.6% | -45.5% | -35.6% |
| Net margin | -92.9% | -96.3% | -67.5% | -44.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.7 | -0.4 | -0.4 | -0.3 | -1.4 | -1.6 | -1.1 | -1.6 | -2.9 | -4.4 |
| Price to sales | 1.5 | 0.4 | 0.4 | 0.3 | 0.5 | 0.4 | 0.4 | 0.6 | 0.8 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 14 May 2008.
| FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | FY2003 | FY2002 | |
|---|---|---|---|---|---|---|---|
| Paid in the year | 0.03 | 0.051 | 0.051 | 0.048 | 0.042 | 0.018 | 0.024 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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