B 
BoardWare Intelligence Technology 1204.HK · HKD
Information Technology · HKEX · 🇭🇰 Hong Kong
1.29
+3.20%
Close of 5 Nov 2026, in HKD
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At a glance
Figures in HKD, from our data supplier.
Revenue
HK$733.9m
FY2018FY2025
Net income
HK$8.1m
FY2018FY2025
Free cash flow
−HK$20.5m
FY2018FY2025
Shareholders' equity
HK$345.1m
FY2018FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$733.9m | HK$648.0m | HK$717.6m | HK$580.8m | HK$534.3m | HK$475.3m | HK$502.7m | HK$419.2m |
| Gross profit | HK$144.0m | HK$124.8m | HK$115.6m | HK$100.4m | HK$112.1m | HK$93.5m | HK$85.7m | HK$63.3m |
| Research and development | HK$19.6m | HK$18.4m | HK$10.0m | HK$6.7m | — | HK$5.7m | HK$3.1m | — |
| Operating income | −HK$2.9m | −HK$15.7m | HK$992,000 | HK$8.9m | HK$31.7m | HK$35.0m | HK$29.7m | HK$19.9m |
| Net income | HK$8.1m | HK$952,000 | HK$4.5m | HK$3.3m | HK$24.0m | HK$29.9m | HK$25.2m | HK$17.3m |
| Diluted earnings per share | 0.02 | 0.00 | 0.01 | 0.01 | 0.05 | 0.06 | 0.05 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Total assets | HK$697.6m | HK$585.7m | HK$583.4m | HK$573.1m | HK$436.1m | HK$318.4m | HK$302.1m | HK$269.1m |
| Cash and short-term investments | HK$129.0m | HK$167.5m | HK$93.1m | HK$160.3m | HK$21.5m | HK$29.9m | HK$28.5m | HK$29.3m |
| Total liabilities | HK$352.5m | HK$249.7m | HK$247.4m | HK$242.0m | HK$267.2m | HK$185.5m | HK$192.8m | HK$169.9m |
| Debt | HK$91.7m | HK$29.5m | HK$22.2m | HK$12.2m | HK$41.5m | HK$25.6m | HK$25.1m | HK$16.6m |
| Shareholders' equity | HK$345.1m | HK$335.9m | HK$336.0m | HK$331.0m | HK$168.9m | HK$133.0m | HK$109.3m | HK$99.2m |
| Shares outstanding | 500m | 500m | 500m | 500m | 500m | 500m | 500m | 500m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$14.9m | HK$36.3m | −HK$75.4m | HK$63.4m | −HK$49.7m | HK$20.2m | HK$33.1m | HK$6.7m |
| Capital spending | −HK$35.4m | −HK$16.1m | −HK$4.0m | −HK$6.6m | −HK$5.1m | −HK$5.3m | −HK$5.9m | −HK$10.2m |
| Free cash flow | −HK$20.5m | HK$20.2m | −HK$79.5m | HK$56.8m | −HK$54.9m | HK$14.9m | HK$27.2m | −HK$3.5m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$316.0m | HK$412.5m | HK$321.4m | HK$329.9m | HK$318.1m | HK$323.5m | HK$394.1m | HK$333.8m |
| Gross profit | HK$65.8m | HK$74.1m | HK$69.9m | HK$59.0m | HK$65.8m | HK$64.5m | HK$48.9m | HK$51.2m |
| Operating income | −HK$4.7m | −HK$172,000 | −HK$2.4m | −HK$12.5m | −HK$3.3m | HK$771,000 | HK$1.1m | −HK$6.6m |
| Net income | HK$1.3m | HK$7.4m | HK$785,000 | −HK$86,000 | HK$1.0m | HK$3.3m | HK$1.2m | −HK$3.9m |
| Diluted earnings per share | 0.00 | 0.01 | 0.00 | -0.00 | 0.00 | 0.01 | 0.00 | -0.01 |
| Cash from operations | — | −HK$1.0m | HK$15.0m | HK$60.0m | −HK$24.0m | — | −HK$74.0m | HK$53.0m |
| Capital spending | — | −HK$20.0m | −HK$2.0m | −HK$6.0m | −HK$6.0m | — | −HK$3.0m | −HK$4.0m |
| Free cash flow | — | −HK$21.0m | HK$13.0m | HK$54.0m | −HK$30.0m | — | −HK$77.0m | HK$49.0m |
| Total assets | HK$670.2m | HK$697.6m | HK$615.9m | HK$585.7m | HK$629.6m | HK$583.4m | HK$512.8m | HK$573.1m |
| Cash and short-term investments | HK$141.6m | HK$129.0m | HK$99.7m | HK$167.5m | HK$75.2m | HK$93.1m | HK$28.7m | HK$105.5m |
| Debt | HK$59.5m | HK$91.7m | HK$53.2m | HK$29.5m | HK$47.5m | HK$22.2m | HK$13.9m | HK$6.6m |
| Shareholders' equity | HK$348.4m | HK$345.1m | HK$337.3m | HK$335.9m | HK$336.3m | HK$336.0m | HK$332.4m | HK$331.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 8.1% | 9.1% | — |
| Net income | 35.8% | -22.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 19.5% | 18.1% | 18.7% | — |
| Operating margin | -1.3% | -0.3% | 1.6% | — |
| Net margin | 0.7% | 0.6% | 1.9% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|
| Price to earnings | 122.8 | — | 395.4 | 202.9 |
| Price to sales | 1.4 | 2.3 | 2.5 | 1.1 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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