K 
0.03
—
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$914.7m
FY2016FY2025
Net income
−HK$427.8m
FY2016FY2025
Free cash flow
HK$53.2m
FY2016FY2025
Shareholders' equity
HK$553.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$914.7m | HK$897.5m | HK$809.1m | HK$894.1m | HK$961.1m | HK$1.01bn | HK$921.1m | HK$2.09bn | HK$1.34bn | HK$633.3m |
| Research and development | HK$8.4m | HK$34.6m | HK$20.8m | HK$29.1m | HK$45.6m | HK$36.5m | HK$33.7m | HK$25.3m | HK$23.7m | HK$4.5m |
| Operating income | −HK$242.8m | −HK$90.4m | −HK$32.2m | −HK$137.3m | HK$33.8m | HK$32.3m | HK$133.6m | HK$89.9m | HK$26.3m | −HK$41.3m |
| Net income | −HK$427.8m | −HK$75.5m | −HK$28.8m | −HK$41.5m | −HK$15.0m | −HK$267.2m | HK$36.1m | HK$32.5m | −HK$1.8m | −HK$37.1m |
| Diluted earnings per share | -0.08 | -0.01 | -0.01 | -0.01 | -0.00 | -0.05 | 0.01 | 0.01 | -0.00 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.07bn | HK$1.59bn | HK$1.73bn | HK$2.12bn | HK$2.56bn | HK$2.54bn | HK$4.00bn | HK$3.34bn | HK$3.44bn | HK$3.15bn |
| Cash and short-term investments | HK$66.1m | HK$90.6m | HK$87.7m | HK$142.6m | HK$184.0m | HK$194.8m | HK$236.4m | HK$260.2m | HK$496.2m | HK$701.6m |
| Total liabilities | HK$588.9m | HK$625.9m | HK$665.4m | HK$964.2m | HK$1.22bn | HK$1.19bn | HK$2.08bn | HK$1.43bn | HK$1.60bn | HK$1.51bn |
| Debt | HK$203.7m | HK$297.2m | HK$333.8m | HK$590.7m | HK$729.0m | HK$634.3m | HK$898.0m | HK$549.4m | HK$806.9m | HK$1.08bn |
| Shareholders' equity | HK$553.3m | HK$978.7m | HK$1.06bn | HK$1.10bn | HK$1.19bn | HK$1.21bn | HK$1.41bn | HK$1.39bn | HK$1.22bn | HK$1.13bn |
| Shares outstanding | 5,579m | 5,579m | 5,579m | 5,579m | 5,579m | 5,579m | 5,579m | 5,579m | 5,455m | 4,949m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$76.7m | HK$47.0m | HK$37.1m | −HK$2.2m | HK$75.1m | HK$206.9m | HK$25.7m | HK$66.9m | −HK$47.3m | HK$12.4m |
| Capital spending | −HK$23.5m | −HK$13.6m | −HK$24.2m | −HK$51.7m | −HK$124.4m | −HK$155.9m | −HK$90.2m | −HK$85.7m | −HK$91.4m | −HK$50.0m |
| Free cash flow | HK$53.2m | HK$33.4m | HK$12.9m | −HK$53.8m | −HK$49.3m | HK$51.0m | −HK$64.6m | −HK$18.8m | −HK$138.6m | −HK$37.6m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$3.5m | −HK$860,000 |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Sept 2023 | Jun 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$383.3m | HK$462.0m | HK$452.7m | HK$439.0m | HK$458.5m | HK$378.4m | HK$189.2m | HK$430.7m |
| Operating income | −HK$23.4m | −HK$47.1m | −HK$195.8m | −HK$74.7m | HK$9.6m | −HK$90.1m | −HK$27.2m | −HK$74.2m |
| Net income | −HK$67.4m | −HK$145.4m | −HK$282.5m | −HK$80.3m | HK$4.7m | −HK$68.0m | −HK$34.0m | HK$39.1m |
| Diluted earnings per share | -0.01 | -0.03 | -0.05 | -0.01 | 0.00 | -0.01 | -0.01 | 0.01 |
| Cash from operations | HK$11.0m | HK$18.0m | HK$48.0m | −HK$3.0m | HK$45.0m | HK$29.0m | HK$14.0m | −HK$1.0m |
| Capital spending | −HK$9.0m | −HK$10.0m | −HK$13.0m | −HK$4.0m | −HK$9.0m | −HK$6.0m | −HK$3.0m | −HK$17.0m |
| Free cash flow | HK$2.0m | HK$8.0m | HK$35.0m | −HK$7.0m | HK$36.0m | HK$23.0m | HK$11.0m | −HK$18.0m |
| Total assets | HK$997.4m | HK$1.07bn | HK$1.15bn | HK$1.59bn | HK$1.69bn | HK$1.73bn | HK$1.73bn | HK$1.83bn |
| Cash and short-term investments | HK$67.6m | HK$66.1m | HK$78.3m | HK$90.6m | HK$78.7m | HK$87.7m | HK$87.7m | HK$170.6m |
| Debt | HK$128.6m | HK$203.7m | HK$287.3m | HK$297.2m | HK$347.0m | HK$333.8m | HK$39.5m | HK$378.8m |
| Shareholders' equity | HK$510.2m | HK$553.3m | HK$685.0m | HK$978.7m | HK$1.06bn | HK$1.06bn | HK$1.06bn | HK$1.12bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.8% | -1.9% | 7.0% |
| Operating income | 20.9% | — | 15.2% |
| Net income | 117.6% | 9.9% | 28.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -18.4% | -14.3% | -8.0% | -2.6% |
| Net margin | -27.8% | -16.3% | -15.6% | -7.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.4 | -1.9 | -7.0 | -6.0 | -18.2 | -1.8 | 24.7 | 42.6 | -1540.5 | -90.8 |
| Price to sales | 0.2 | 0.2 | 0.3 | 0.3 | 0.3 | 0.5 | 1.0 | 0.7 | 2.1 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 May 2013.
| FY2013 | FY2012 | |
|---|---|---|
| Paid in the year | 0.004 | 0.004 |
- 5-for-1 split · 20 Jan 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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