M 
0.19
—
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$102.7m
FY2016FY2025
Net income
−HK$56.5m
FY2016FY2025
Free cash flow
−HK$6.4m
FY2016FY2025
Shareholders' equity
HK$318.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$102.7m | HK$137.3m | HK$127.9m | HK$138.5m | HK$127.3m | HK$191.6m | HK$251.0m | HK$290.6m | HK$280.4m | HK$328.0m |
| Gross profit | HK$82.3m | HK$110.5m | HK$93.3m | HK$96.6m | HK$86.9m | HK$147.0m | HK$205.2m | HK$221.8m | HK$219.6m | HK$254.6m |
| Operating income | −HK$48.1m | −HK$25.5m | −HK$33.3m | −HK$64.5m | −HK$68.0m | −HK$65.3m | −HK$45.5m | −HK$21.0m | −HK$59.2m | −HK$62.4m |
| Net income | −HK$56.5m | −HK$48.1m | −HK$42.9m | −HK$40.7m | −HK$22.8m | −HK$146.7m | −HK$19.7m | HK$2.0m | −HK$52.0m | −HK$56.5m |
| Diluted earnings per share | -0.20 | -0.17 | -0.15 | -0.14 | -0.08 | -0.51 | -0.07 | 0.01 | -0.18 | -0.20 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$509.6m | HK$597.1m | HK$644.0m | HK$714.8m | HK$806.2m | HK$794.3m | HK$839.3m | HK$818.3m | HK$747.8m | HK$802.3m |
| Cash and short-term investments | HK$4.7m | HK$23.6m | HK$13.8m | HK$14.4m | HK$17.6m | HK$31.8m | HK$30.7m | HK$62.2m | HK$83.3m | HK$139.0m |
| Total liabilities | HK$190.9m | HK$196.9m | HK$181.5m | HK$198.8m | HK$273.2m | HK$263.2m | HK$152.4m | HK$145.6m | HK$141.4m | HK$143.5m |
| Debt | HK$98.7m | HK$93.6m | HK$65.7m | HK$69.3m | HK$134.9m | HK$122.7m | HK$6.5m | HK$7.1m | HK$7.7m | HK$8.2m |
| Shareholders' equity | HK$318.7m | HK$400.2m | HK$462.6m | HK$516.0m | HK$532.9m | HK$531.1m | HK$687.0m | HK$672.7m | HK$606.4m | HK$658.8m |
| Shares outstanding | 288m | 288m | 288m | 288m | 288m | 288m | 288m | 288m | 288m | 288m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$3.5m | HK$6.4m | HK$6.2m | HK$1.6m | HK$10.4m | HK$29.7m | −HK$31.8m | −HK$11.2m | −HK$35.7m | −HK$22.7m |
| Capital spending | −HK$2.9m | −HK$2.9m | −HK$1.9m | −HK$2.7m | −HK$4.2m | −HK$7.4m | −HK$11.9m | −HK$6.2m | −HK$9.2m | −HK$12.5m |
| Free cash flow | −HK$6.4m | HK$3.5m | HK$4.3m | −HK$1.1m | HK$6.2m | HK$22.3m | −HK$43.7m | −HK$17.4m | −HK$44.9m | −HK$35.2m |
| Dividends paid | — | — | — | — | — | — | −HK$11.5m | −HK$8.6m | −HK$8.6m | −HK$14.4m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$48.2m | HK$52.2m | HK$50.6m | HK$72.7m | HK$64.6m | HK$71.8m | HK$56.1m | HK$71.5m |
| Gross profit | HK$36.3m | HK$40.7m | HK$41.6m | HK$59.8m | HK$50.7m | HK$51.0m | HK$42.3m | HK$46.6m |
| Operating income | −HK$16.8m | −HK$24.7m | −HK$21.1m | −HK$16.6m | −HK$12.6m | −HK$9.4m | −HK$15.6m | −HK$19.4m |
| Net income | −HK$18.6m | −HK$32.9m | −HK$23.6m | −HK$32.8m | −HK$15.3m | −HK$26.1m | −HK$16.7m | −HK$14.3m |
| Diluted earnings per share | -0.06 | -0.11 | -0.08 | -0.11 | -0.05 | -0.09 | -0.06 | -0.05 |
| Total assets | HK$494.8m | HK$509.6m | HK$573.9m | HK$597.1m | HK$635.0m | HK$644.0m | HK$692.9m | HK$714.8m |
| Cash and short-term investments | HK$8.8m | HK$4.7m | HK$11.3m | HK$23.6m | HK$34.1m | HK$13.8m | HK$13.6m | HK$14.4m |
| Debt | HK$86.2m | HK$73.5m | HK$63.8m | HK$68.3m | HK$53.2m | HK$41.9m | HK$42.2m | HK$30.8m |
| Shareholders' equity | HK$298.4m | HK$318.7m | HK$381.5m | HK$400.2m | HK$444.6m | HK$462.6m | HK$498.9m | HK$516.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.5% | -11.7% | -13.1% |
| Operating income | -9.3% | -5.9% | — |
| Net income | 11.6% | -17.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 80.3% | 75.5% | 74.7% | 78.0% |
| Operating margin | -30.7% | -33.8% | -36.9% | -20.4% |
| Net margin | -43.6% | -37.2% | -43.3% | -19.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.8 | -0.7 | -1.7 | -1.4 | -3.6 | -0.6 | -5.8 | 93.3 | -7.2 | -6.6 |
| Price to sales | 0.4 | 0.3 | 0.6 | 0.4 | 0.6 | 0.4 | 0.5 | 0.6 | 1.3 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Sept 2018.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.04 | 0.03 | 0.03 | 0.05 | 0.12 | 0.11 | 0.031 | 0.051 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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