T 
1.80
-8.63%
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$30.6m
FY2016FY2025
Net income
−HK$26.0m
FY2016FY2025
Free cash flow
−HK$17.7m
FY2016FY2025
Shareholders' equity
HK$341.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$30.6m | HK$66.7m | HK$129.2m | HK$94.4m | HK$159.8m | HK$762.9m | HK$912.3m | HK$362.2m | HK$390.8m | HK$18.0m |
| Gross profit | HK$742,000 | −HK$2.9m | HK$2.2m | HK$8.0m | HK$11.4m | HK$248.0m | HK$71.4m | HK$26.1m | HK$95.9m | −HK$4.8m |
| Research and development | HK$415,000 | HK$15.1m | HK$24.4m | HK$20.6m | HK$13.9m | HK$5.9m | HK$12.3m | HK$36.1m | HK$13.4m | HK$700,000 |
| Operating income | −HK$52.0m | −HK$160.8m | −HK$96.2m | −HK$118.1m | −HK$267.9m | HK$147.6m | −HK$77.4m | −HK$221.8m | HK$18.3m | −HK$45.1m |
| Net income | −HK$26.0m | −HK$142.9m | −HK$89.7m | −HK$196.1m | −HK$326.9m | −HK$25.2m | −HK$104.3m | −HK$182.2m | −HK$7.4m | −HK$37.3m |
| Diluted earnings per share | -0.11 | -0.67 | -0.60 | -1.57 | -2.71 | -0.21 | -0.09 | -0.15 | -0.01 | -0.28 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$529.3m | HK$420.2m | HK$599.0m | HK$696.9m | HK$2.53bn | HK$2.99bn | HK$3.18bn | HK$3.98bn | HK$2.63bn | HK$2.01bn |
| Cash and short-term investments | HK$16.3m | HK$9.6m | HK$2.6m | HK$6.4m | HK$12.7m | HK$15.2m | HK$35.5m | HK$16.3m | HK$41.2m | HK$133.2m |
| Total liabilities | HK$396.3m | HK$307.2m | HK$371.5m | HK$356.3m | HK$1.74bn | HK$1.75bn | HK$2.07bn | HK$2.76bn | HK$1.25bn | HK$1.01bn |
| Debt | HK$101.5m | HK$33.0m | HK$53.3m | HK$62.3m | HK$230.0m | HK$271.7m | HK$368.9m | HK$156.3m | HK$438.6m | HK$465.2m |
| Shareholders' equity | HK$341.2m | HK$334.0m | HK$418.0m | HK$528.8m | HK$764.6m | HK$1.05bn | HK$976.7m | HK$1.05bn | HK$734.7m | HK$572.2m |
| Shares outstanding | 247m | 214m | 148m | 125m | 121m | 120m | 1,196m | 1,190m | 1,146m | 132m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$2.4m | −HK$38.0m | −HK$3.3m | HK$33.5m | −HK$26.6m | HK$21.4m | −HK$271.9m | −HK$498.5m | −HK$206.6m | HK$421,000 |
| Capital spending | −HK$15.2m | −HK$1.6m | −HK$3.6m | −HK$19.9m | −HK$23.6m | −HK$9.4m | −HK$35.7m | −HK$30.0m | −HK$124.2m | −HK$333.5m |
| Free cash flow | −HK$17.7m | −HK$39.6m | −HK$6.8m | HK$13.6m | −HK$50.1m | HK$12.0m | −HK$307.6m | −HK$528.5m | −HK$330.8m | −HK$333.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$88.8m | HK$14.8m | HK$15.9m | HK$30.2m | HK$36.5m | HK$58.8m | HK$70.3m | HK$36.3m |
| Gross profit | −HK$916,999 | HK$17,000 | HK$725,000 | −HK$2.4m | −HK$17.5m | −HK$1.7m | HK$3.9m | HK$4.5m |
| Operating income | −HK$16.6m | −HK$23.0m | −HK$32.5m | −HK$64.3m | −HK$71.5m | −HK$65.0m | −HK$40.8m | −HK$62.4m |
| Net income | −HK$15.2m | −HK$2.7m | −HK$23.3m | −HK$59.2m | −HK$83.7m | −HK$62.1m | −HK$27.6m | −HK$149.2m |
| Diluted earnings per share | -0.04 | -0.01 | -0.09 | -0.28 | -0.39 | -0.42 | -0.19 | -1.19 |
| Cash from operations | — | HK$2.0m | −HK$4.0m | −HK$3.0m | −HK$37.0m | −HK$1.0m | −HK$2.0m | −HK$119.0m |
| Capital spending | — | −HK$15.0m | — | −HK$1.0m | — | −HK$2.0m | −HK$1.0m | −HK$17.0m |
| Free cash flow | — | −HK$13.0m | — | −HK$4.0m | — | −HK$3.0m | −HK$3.0m | −HK$136.0m |
| Total assets | HK$553.8m | HK$529.3m | HK$391.8m | HK$420.2m | HK$498.9m | HK$599.0m | HK$614.5m | HK$696.9m |
| Cash and short-term investments | HK$24.6m | HK$16.3m | HK$1.2m | HK$9.6m | HK$4.9m | HK$2.6m | HK$1.7m | HK$6.4m |
| Debt | HK$11.4m | HK$101.5m | HK$23.4m | HK$33.0m | HK$37.1m | HK$53.3m | HK$62.0m | HK$62.3m |
| Shareholders' equity | HK$349.6m | HK$341.2m | HK$309.0m | HK$334.0m | HK$393.8m | HK$418.0m | HK$497.6m | HK$528.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -31.3% | -47.4% | -27.8% |
| Operating income | -23.9% | — | — |
| Net income | -49.0% | 0.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -2.3% | 2.5% | 21.5% | 18.8% |
| Operating margin | -218.5% | -133.1% | -44.0% | -21.0% |
| Net margin | -173.5% | -141.7% | -64.9% | -29.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -12.4 | -2.0 | -0.9 | -0.5 | -0.4 | -4.2 | -12.5 | -12.9 | -416.3 | -8.9 |
| Price to sales | 10.5 | 4.3 | 0.6 | 1.0 | 0.8 | 0.1 | 1.4 | 6.5 | 7.9 | 18.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 28 Sept 2012.
| FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2007 | FY2006 | FY2005 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.601 | 1.053 | 0.975 | 0.719 | 1.477 | 1.201 | 0.906 | 0.817 |
- 10-to-1 reverse split · 17 Dec 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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