M 
1.72
+1.18%
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$5.50bn
FY2016FY2025
Net income
HK$422.7m
FY2016FY2025
Free cash flow
HK$543.6m
FY2016FY2025
Shareholders' equity
HK$1.40bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$5.50bn | HK$6.09bn | HK$4.08bn | HK$3.12bn | HK$6.00bn | HK$4.98bn | HK$3.52bn | HK$5.01bn | HK$5.30bn | HK$5.08bn |
| Operating income | HK$497.4m | HK$384.6m | HK$9.2m | −HK$572.4m | HK$151.0m | HK$169.7m | −HK$44.3m | HK$96.6m | HK$245.0m | HK$40.2m |
| Net income | HK$422.7m | HK$320.3m | −HK$41.9m | −HK$534.0m | HK$100.2m | HK$131.9m | −HK$68.9m | HK$58.1m | HK$193.5m | HK$10.5m |
| Diluted earnings per share | 0.59 | 0.45 | -0.06 | -0.74 | 0.14 | 0.18 | -0.10 | 0.08 | 0.27 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$4.70bn | HK$4.71bn | HK$3.57bn | HK$3.83bn | HK$6.35bn | HK$5.03bn | HK$5.17bn | HK$4.59bn | HK$4.41bn | HK$3.74bn |
| Cash and short-term investments | HK$999.5m | HK$711.1m | HK$532.1m | HK$450.7m | HK$1.51bn | HK$940.6m | HK$1.15bn | HK$942.3m | HK$1.16bn | HK$876.5m |
| Total liabilities | HK$3.30bn | HK$3.71bn | HK$2.91bn | HK$3.14bn | HK$5.17bn | HK$3.94bn | HK$3.84bn | HK$3.14bn | HK$3.05bn | HK$2.56bn |
| Debt | HK$208.7m | HK$164.0m | HK$391.8m | HK$768.3m | HK$1.53bn | HK$897.9m | HK$1.25bn | HK$255.5m | HK$359.9m | HK$355.6m |
| Shareholders' equity | HK$1.40bn | HK$993.7m | HK$657.2m | HK$684.2m | HK$1.19bn | HK$1.09bn | HK$1.32bn | HK$1.46bn | HK$1.36bn | HK$1.18bn |
| Shares outstanding | 722m | 717m | 717m | 717m | 717m | 718m | 718m | 718m | 718m | 718m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$552.5m | HK$644.6m | HK$543.6m | HK$103.3m | HK$767.7m | HK$694.5m | HK$675.8m | −HK$26.9m | HK$263.4m | −HK$43.8m |
| Capital spending | −HK$8.9m | −HK$8.4m | −HK$20.4m | −HK$57.3m | −HK$65.3m | −HK$60.0m | −HK$64.4m | −HK$53.8m | −HK$53.0m | −HK$51.5m |
| Free cash flow | HK$543.6m | HK$636.2m | HK$523.2m | HK$46.0m | HK$702.3m | HK$634.4m | HK$611.3m | −HK$80.7m | HK$210.5m | −HK$95.3m |
| Dividends paid | — | — | — | — | — | — | — | −HK$58.9m | −HK$58.9m | −HK$58.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$2.02bn | HK$2.98bn | HK$2.52bn | HK$2.77bn | HK$1.80bn | HK$2.49bn | HK$1.59bn | HK$1.06bn |
| Operating income | HK$342.9m | HK$318.5m | HK$178.9m | HK$170.0m | HK$237.4m | −HK$68.5m | HK$50.6m | −HK$315.2m |
| Net income | HK$282.1m | HK$271.3m | HK$151.4m | HK$146.3m | HK$174.1m | −HK$81.0m | HK$39.1m | −HK$302.0m |
| Diluted earnings per share | 0.39 | 0.38 | 0.21 | 0.20 | 0.24 | -0.11 | 0.05 | -0.42 |
| Cash from operations | — | HK$405.0m | HK$146.0m | HK$552.0m | HK$97.0m | HK$303.0m | HK$240.0m | −HK$5.0m |
| Capital spending | — | −HK$4.0m | −HK$4.0m | −HK$5.0m | −HK$3.0m | −HK$8.0m | −HK$11.0m | −HK$26.0m |
| Free cash flow | — | HK$401.0m | HK$142.0m | HK$547.0m | HK$94.0m | HK$295.0m | HK$229.0m | −HK$31.0m |
| Total assets | HK$5.10bn | HK$4.70bn | HK$4.42bn | HK$4.71bn | HK$5.05bn | HK$3.57bn | HK$4.04bn | HK$3.83bn |
| Cash and short-term investments | HK$1.28bn | HK$999.5m | HK$722.2m | HK$711.1m | HK$664.6m | HK$532.1m | HK$449.6m | HK$450.7m |
| Debt | HK$201.2m | HK$299.3m | HK$263.5m | HK$222.7m | HK$770.9m | HK$456.8m | HK$761.1m | HK$768.3m |
| Shareholders' equity | HK$1.62bn | HK$1.40bn | HK$1.14bn | HK$993.7m | HK$839.3m | HK$657.2m | HK$733.8m | HK$684.2m |
Financial ratios
Data as of 28 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 9.2% | 6.6% | -0.0% | -18.4% | 2.5% | 3.4% |
| Net margin | 7.7% | 5.3% | -1.0% | -17.1% | 1.7% | 2.6% |
| Return on equity | 30.1% | 32.2% | -6.4% | -78.0% | 8.4% | 12.1% |
| Return on assets | 9.0% | 6.8% | -1.2% | -14.0% | 1.6% | 2.6% |
| Free cash flow yield | 46.0% | 53.9% | 46.5% | 13.3% | 68.7% | 62.2% |
| Revenue growth | -9.6% | 49.1% | 31.1% | -48.1% | 20.5% | 41.4% |
| Earnings growth | 32.0% | -864.2% | -92.2% | -632.8% | -24.0% | -291.3% |
| Current ratio | 1.36x | 1.20x | 1.09x | 1.12x | 1.10x | 1.13x |
| Debt to equity | 0.15x | 0.17x | 0.60x | 0.91x | 1.03x | 0.63x |
| Equity ratio | 29.9% | 21.1% | 18.4% | 17.9% | 18.7% | 21.7% |
| Interest coverage | 29.95x | 14.54x | -0.02x | -17.16x | 5.03x | 4.99x |
| Buybacks as a share of market value | -0.7% | 0.0% | 0.0% | 0.0% | 0.1% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 20.9% | 2.0% | 3.5% |
| Operating income | — | 24.0% | — |
| Net income | — | 26.2% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 7.6% | 1.7% | 2.1% | 1.7% |
| Net margin | 6.4% | 0.9% | 1.3% | 0.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 3.9 | 1.9 | -8.4 | -1.1 | 6.7 | 4.1 | -10.6 | 16.6 | 7.5 | 121.1 |
| Price to sales | 0.3 | 0.1 | 0.1 | 0.2 | 0.1 | 0.1 | 0.2 | 0.2 | 0.3 | 0.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Sept 2018.
| FY2018 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.082 | 0.10 | 0.227 | 0.426 | 0.706 | 0.186 | 0.275 | 0.232 |
- 5-for-2 split · 14 Apr 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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