Z 
4.70
0.00%
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$574.9m
FY2016FY2025
Net income
−HK$1.10bn
FY2016FY2025
Free cash flow
HK$134.0m
FY2016FY2025
Shareholders' equity
HK$10.33bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$574.9m | HK$346.3m | HK$360.8m | HK$320.5m | HK$432.2m | HK$388.8m | HK$167.6m | HK$528.4m | HK$398.3m | HK$331.9m |
| Research and development | — | — | HK$1 | HK$0 | HK$1 | HK$0 | HK$0 | — | — | — |
| Operating income | HK$125.2m | HK$80.4m | HK$92.9m | HK$183.0m | HK$155.2m | HK$102.0m | HK$35.8m | −HK$64.5m | HK$269.0m | HK$255.3m |
| Net income | −HK$1.10bn | HK$3.97bn | −HK$278.2m | −HK$142.4m | HK$190.7m | −HK$453.1m | −HK$316.6m | −HK$267.7m | HK$110.1m | −HK$245.5m |
| Diluted earnings per share | -2.61 | 0.46 | -0.04 | -0.02 | 0.01 | -0.06 | -0.07 | -0.08 | 0.03 | -0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$16.29bn | HK$16.59bn | HK$10.93bn | HK$11.20bn | HK$12.26bn | HK$11.25bn | HK$10.72bn | HK$11.36bn | HK$15.09bn | HK$8.95bn |
| Cash and short-term investments | HK$1.99bn | HK$987.9m | HK$554.9m | HK$854.7m | HK$1.90bn | HK$2.15bn | HK$1.86bn | HK$3.22bn | HK$3.15bn | HK$3.42bn |
| Total liabilities | HK$5.07bn | HK$5.81bn | HK$3.44bn | HK$3.18bn | HK$3.17bn | HK$3.02bn | HK$2.83bn | HK$3.07bn | HK$3.63bn | HK$1.64bn |
| Debt | HK$2.22bn | HK$2.96bn | HK$1.57bn | HK$1.16bn | HK$957.5m | HK$764.9m | HK$817.8m | HK$1.03bn | HK$777.3m | HK$90.3m |
| Shareholders' equity | HK$10.33bn | HK$9.87bn | HK$6.22bn | HK$6.66bn | HK$7.81bn | HK$6.75bn | HK$6.58bn | HK$6.94bn | HK$9.62bn | HK$6.30bn |
| Shares outstanding | 421m | 8,592m | 6,374m | 6,374m | 12,770m | 7,082m | 4,402m | 3,541m | 3,541m | 3,541m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$142.7m | HK$76.1m | HK$164.8m | −HK$11.4m | HK$6.6m | HK$284.7m | HK$382.5m | HK$376.4m | −HK$869.5m | HK$130.2m |
| Capital spending | −HK$8.7m | −HK$10.6m | −HK$3.4m | −HK$4.0m | −HK$2.6m | −HK$8.7m | −HK$17.9m | −HK$9.9m | −HK$9.7m | −HK$11.2m |
| Free cash flow | HK$134.0m | HK$65.4m | HK$161.4m | −HK$15.3m | HK$4.0m | HK$275.9m | HK$364.6m | HK$366.4m | −HK$879.2m | HK$119.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$491.0m | HK$282.8m | HK$280.3m | HK$287.3m | HK$103.4m | HK$181.0m | HK$117.5m | HK$185.9m |
| Operating income | HK$160.2m | −HK$30.2m | HK$155.4m | HK$226.0m | −HK$145.6m | HK$26.2m | −HK$54.3m | HK$44.0m |
| Net income | −HK$196.1m | −HK$593.0m | −HK$507.1m | HK$4.12bn | −HK$150.5m | −HK$18.7m | −HK$9.3m | −HK$259.6m |
| Diluted earnings per share | -0.45 | -1.41 | -1.20 | 0.48 | -0.02 | -0.00 | -0.00 | -0.04 |
| Cash from operations | HK$350.0m | HK$306.0m | −HK$163.0m | HK$85.0m | HK$19.0m | HK$116.0m | HK$82.0m | −HK$1.0m |
| Capital spending | −HK$2.0m | −HK$4.0m | −HK$3.0m | −HK$8.0m | −HK$4.0m | −HK$2.0m | — | −HK$2.0m |
| Free cash flow | HK$348.0m | HK$302.0m | −HK$166.0m | HK$77.0m | HK$15.0m | HK$114.0m | — | −HK$3.0m |
| Total assets | HK$15.85bn | HK$16.29bn | HK$19.71bn | HK$16.59bn | HK$10.49bn | HK$10.93bn | HK$10.93bn | HK$10.55bn |
| Cash and short-term investments | HK$2.15bn | HK$1.99bn | HK$4.17bn | HK$987.9m | HK$710.1m | HK$1.45bn | HK$512.6m | HK$641.2m |
| Debt | HK$330.4m | HK$2.22bn | HK$5.27bn | HK$2.96bn | HK$1.69bn | HK$1.57bn | — | HK$1.15bn |
| Shareholders' equity | HK$9.95bn | HK$10.33bn | HK$9.76bn | HK$9.87bn | HK$5.86bn | HK$6.22bn | HK$6.22bn | HK$6.20bn |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Operating margin | -155.8% | 1193.3% | -60.8% | 22.1% | 35.9% | 26.2% | — |
| Net margin | -191.4% | 1145.9% | -77.1% | -44.4% | 44.1% | -116.6% | — |
| Return on equity | -10.6% | 40.2% | -4.5% | -2.1% | 2.4% | -6.7% | — |
| Return on assets | -6.8% | 23.9% | -2.5% | -1.3% | 1.6% | -4.0% | — |
| Free cash flow yield | 7.4% | 0.2% | 0.5% | -0.0% | 0.0% | 0.9% | — |
| Revenue growth | 66.0% | -4.0% | 12.6% | -25.9% | 11.2% | 132.0% | — |
| Earnings growth | -127.7% | -1526.3% | 95.4% | -174.7% | -142.1% | 43.1% | — |
| Current ratio | 7.57x | 1.96x | 0.95x | 0.95x | 1.36x | 2.07x | — |
| Debt to equity | 0.21x | 0.30x | 0.25x | 0.17x | 0.12x | 0.11x | — |
| Equity ratio | 63.4% | 59.5% | 56.9% | 59.5% | 63.7% | 60.0% | — |
| Interest coverage | -7.06x | 55.90x | -2.52x | 1.54x | 7.96x | 3.23x | — |
| R&D as a share of sales | — | — | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
| Buybacks as a share of market value | 95.1% | -34.8% | 0.0% | 50.1% | -80.3% | -60.9% | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.5% | 8.1% | 5.5% |
| Operating income | -11.9% | 4.2% | -5.2% |
| Net income | 97.7% | 19.4% | 10.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 22.3% | 30.0% | 30.5% | 34.6% |
| Net margin | 311.4% | 152.8% | 90.2% | 25.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | 5.3 | -41.2 | -168.3 | 329.4 | -125.7 | -97.3 | -106.4 | — | -204.2 |
| Price to sales | 3.6 | 61.0 | 31.8 | 74.8 | 145.4 | 146.6 | 183.9 | 53.9 | 147.3 | 151.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 May 2010.
| FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | FY2004 | FY2003 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.483 | 0.322 | 1.046 | 0.634 | 0.634 | 0.907 | 0.439 | 0.293 |
- 20-to-1 reverse split · 27 May 2025
- 9-for-8 split · 16 May 2007
- 6-for-5 split · 19 May 2004
- 11-for-10 split · 23 Oct 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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