S 
1.20
-2.44%
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$308.8m
FY2016FY2025
Net income
−HK$32.9m
FY2016FY2025
Free cash flow
HK$96.4m
FY2016FY2025
Shareholders' equity
HK$2.36bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$308.8m | HK$307.6m | HK$304.7m | HK$279.2m | HK$323.5m | HK$352.2m | HK$388.9m | HK$381.8m | HK$348.9m | HK$363.9m |
| Operating income | HK$85.3m | HK$86.4m | −HK$50.3m | −HK$15.0m | HK$98.8m | −HK$82.0m | HK$124.4m | HK$193.9m | HK$155.1m | HK$18.4m |
| Net income | −HK$32.9m | −HK$143.1m | −HK$205.9m | −HK$81.7m | HK$36.5m | −HK$216.3m | HK$71.7m | HK$118.2m | HK$41.0m | HK$27.7m |
| Diluted earnings per share | -0.01 | -0.05 | -0.07 | -0.03 | 0.01 | -0.07 | 0.02 | 0.04 | 0.01 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$4.52bn | HK$4.42bn | HK$4.88bn | HK$5.14bn | HK$5.77bn | HK$5.32bn | HK$5.16bn | HK$4.35bn | HK$4.23bn | HK$3.40bn |
| Cash and short-term investments | HK$322.4m | HK$158.9m | HK$235.6m | HK$228.8m | HK$436.4m | HK$348.5m | HK$370.7m | HK$204.0m | HK$146.4m | HK$339.2m |
| Total liabilities | HK$2.16bn | HK$2.10bn | HK$2.34bn | HK$2.29bn | HK$2.60bn | HK$2.42bn | HK$2.23bn | HK$1.74bn | HK$1.64bn | HK$1.23bn |
| Debt | HK$1.33bn | HK$1.39bn | HK$1.58bn | HK$1.63bn | HK$1.83bn | HK$1.80bn | HK$1.59bn | HK$1.30bn | HK$1.16bn | HK$719.5m |
| Shareholders' equity | HK$2.36bn | HK$2.31bn | HK$2.53bn | HK$2.83bn | HK$3.14bn | HK$2.89bn | HK$2.92bn | HK$2.57bn | HK$2.54bn | HK$2.18bn |
| Shares outstanding | 2,974m | 2,974m | 2,974m | 2,974m | 2,974m | 2,974m | 2,974m | 2,974m | 2,957m | 2,703m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$102.1m | HK$243.0m | HK$183.4m | HK$107.3m | HK$123.1m | HK$129.2m | HK$44.9m | −HK$83.2m | HK$65.2m | HK$365.6m |
| Capital spending | −HK$5.7m | −HK$3.8m | −HK$26.2m | −HK$75.6m | −HK$107.1m | −HK$137.5m | −HK$340.7m | −HK$223.6m | −HK$9.2m | −HK$11.2m |
| Free cash flow | HK$96.4m | HK$239.2m | HK$157.1m | HK$31.6m | HK$16.0m | −HK$8.3m | −HK$295.9m | −HK$306.8m | HK$56.0m | HK$354.4m |
| Dividends paid | −HK$14.9m | −HK$14.9m | −HK$14.9m | −HK$14.9m | −HK$14.9m | −HK$23.8m | −HK$35.7m | −HK$14.8m | −HK$11.2m | −HK$54.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$173.1m | HK$160.5m | HK$148.2m | HK$157.2m | HK$150.3m | HK$151.5m | HK$153.2m | HK$143.8m |
| Operating income | HK$22.4m | HK$43.8m | HK$41.5m | HK$37.4m | HK$49.0m | −HK$33.5m | −HK$13.9m | −HK$31.1m |
| Net income | −HK$10.0m | −HK$19.6m | −HK$13.3m | −HK$114.7m | −HK$28.4m | −HK$118.3m | −HK$87.6m | −HK$78.2m |
| Diluted earnings per share | -0.00 | -0.01 | -0.00 | -0.04 | -0.01 | -0.04 | -0.03 | -0.03 |
| Cash from operations | — | HK$93.0m | HK$33.0m | HK$130.0m | HK$36.0m | HK$93.0m | HK$4.0m | −HK$28.0m |
| Capital spending | — | −HK$4.0m | — | −HK$3.0m | — | −HK$7.0m | −HK$18.0m | −HK$29.0m |
| Free cash flow | — | HK$89.0m | — | HK$127.0m | — | HK$86.0m | −HK$14.0m | −HK$57.0m |
| Total assets | HK$4.85bn | HK$4.52bn | HK$4.44bn | HK$4.42bn | HK$4.66bn | HK$4.88bn | HK$4.90bn | HK$5.14bn |
| Cash and short-term investments | HK$558.1m | HK$322.4m | HK$165.0m | HK$158.9m | HK$158.3m | HK$235.6m | HK$202.2m | HK$228.8m |
| Debt | HK$553.9m | HK$1.33bn | HK$1.38bn | HK$1.39bn | HK$1.54bn | HK$1.58bn | HK$1.62bn | HK$1.66bn |
| Shareholders' equity | HK$2.41bn | HK$2.36bn | HK$2.33bn | HK$2.31bn | HK$2.43bn | HK$2.53bn | HK$2.62bn | HK$2.83bn |
Financial ratios
Data as of 19 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | FY2006 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -2.0% | -5.1% | -38.0% | -5.4% | 30.6% | -41.4% | — | — | — | — | — | — |
| Net margin | -10.7% | -46.5% | -67.6% | -29.3% | 11.3% | -61.4% | — | — | — | — | — | — |
| Return on equity | -1.4% | -6.2% | -8.1% | -2.9% | 1.2% | -7.5% | — | — | — | — | — | — |
| Return on assets | -0.7% | -3.2% | -4.2% | -1.6% | 0.6% | -4.1% | — | — | — | — | — | — |
| Free cash flow yield | 3.0% | 6.8% | 5.8% | 5.0% | 6.3% | 7.3% | — | — | — | — | — | — |
| Revenue growth | 0.4% | 0.9% | 9.2% | -13.7% | -8.1% | -9.5% | — | — | — | — | — | — |
| Earnings growth | -77.0% | -30.5% | 152.2% | -323.7% | -116.9% | -401.7% | — | — | — | — | — | — |
| Current ratio | 1.12x | 1.10x | 1.23x | 1.23x | 1.46x | 1.01x | — | — | — | — | — | — |
| Debt to equity | 0.50x | 0.53x | 0.55x | 0.52x | 0.52x | 0.56x | — | — | — | — | — | — |
| Equity ratio | 52.1% | 52.4% | 51.8% | 55.0% | 54.5% | 54.3% | — | — | — | — | — | — |
| Interest coverage | -0.09x | -0.17x | -1.11x | -0.20x | 1.58x | -2.09x | — | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | — | 1.0% | 1.0% | 1.0% | 1.3% | 1.9% | 2.5% |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.4% | -2.6% | -1.3% |
| Net income | -26.1% | -31.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 27.9% | 8.9% | 6.6% | 15.5% |
| Net margin | -28.6% | -38.6% | -34.3% | -5.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -139.0 | -16.8 | -12.3 | -32.4 | 79.8 | -11.8 | 39.4 | 25.9 | 70.7 | 70.1 |
| Price to sales | 14.8 | 7.8 | 8.3 | 9.5 | 9.0 | 7.3 | 7.3 | 8.0 | 8.3 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 10 years. Last went ex-dividend on 6 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.005 | 0.008 | 0.012 |
- 2-to-1 reverse split · 26 Jul 2011
- 11-for-10 split · 4 May 2004
- 4-for-1 split · 4 Sept 2003
- 25-to-1 reverse split · 23 Oct 2001
- 1-to-1 reverse split · 16 Oct 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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