T 
0.14
-4.76%
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$67.0m
FY2016FY2025
Net income
HK$26.8m
FY2016FY2025
Free cash flow
−HK$32.6m
FY2016FY2025
Shareholders' equity
−HK$51.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$67.0m | HK$160.0m | HK$198.6m | HK$315.8m | HK$283.5m | HK$206.8m | HK$342.7m | HK$348.8m | HK$317.7m | −HK$37.6m |
| Research and development | — | HK$20.9m | HK$22.3m | HK$20.3m | HK$23.3m | HK$27.9m | HK$17.3m | HK$33.3m | HK$29.2m | HK$3.1m |
| Operating income | HK$68.7m | −HK$78.3m | −HK$90.3m | −HK$42.5m | −HK$31.2m | −HK$61.1m | −HK$33.0m | −HK$210.2m | −HK$243.3m | −HK$366.1m |
| Net income | HK$26.8m | −HK$88.1m | −HK$268.9m | −HK$198.1m | −HK$72.9m | −HK$168.8m | −HK$199.1m | −HK$254.0m | −HK$245.2m | −HK$1.15bn |
| Diluted earnings per share | 0.01 | -0.03 | -0.10 | -0.07 | -0.03 | -0.06 | -0.08 | -0.10 | -0.10 | -0.56 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$619.7m | HK$550.3m | HK$607.3m | HK$887.7m | HK$1.02bn | HK$971.9m | HK$886.4m | HK$1.04bn | HK$1.35bn | HK$1.27bn |
| Cash and short-term investments | HK$5.1m | HK$69.6m | HK$36.0m | HK$144.3m | HK$94.0m | HK$254.4m | HK$199.3m | HK$121.8m | HK$362.9m | HK$303.6m |
| Total liabilities | HK$592.3m | HK$591.0m | HK$586.3m | HK$604.2m | HK$537.7m | HK$415.6m | HK$341.8m | HK$316.5m | HK$390.5m | HK$73.5m |
| Debt | HK$413.6m | HK$384.6m | HK$384.9m | HK$395.0m | HK$317.4m | HK$222.6m | HK$260.9m | HK$219.5m | HK$300.9m | HK$12.0m |
| Shareholders' equity | −HK$51.1m | −HK$83.2m | −HK$848,000 | HK$264.0m | HK$469.9m | HK$488.0m | HK$541.2m | HK$726.8m | HK$957.3m | HK$1.18bn |
| Shares outstanding | 2,811m | 2,806m | 2,806m | 2,806m | 2,845m | 2,772m | 2,449m | 2,449m | 2,449m | 2,038m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$29.6m | −HK$49.9m | HK$3.6m | −HK$26.4m | −HK$53.8m | −HK$15.3m | −HK$204.9m | −HK$117.1m | −HK$40.9m | HK$225.9m |
| Capital spending | −HK$3.0m | −HK$3.7m | −HK$17.1m | −HK$12.9m | −HK$250.8m | −HK$125.5m | −HK$7.6m | −HK$36.2m | −HK$52.0m | −HK$6.3m |
| Free cash flow | −HK$32.6m | −HK$53.5m | −HK$13.5m | −HK$39.3m | −HK$304.6m | −HK$140.9m | −HK$212.6m | −HK$153.3m | −HK$92.9m | HK$219.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$35.4m | HK$35.4m | HK$31.5m | HK$85.7m | HK$74.3m | HK$95.3m | HK$103.4m | HK$149.5m |
| Operating income | −HK$23.8m | −HK$25.9m | −HK$34.3m | −HK$31.2m | −HK$36.4m | −HK$54.5m | −HK$35.8m | −HK$25.4m |
| Net income | HK$197.8m | HK$15.6m | HK$11.2m | −HK$40.1m | −HK$48.0m | −HK$185.0m | −HK$84.0m | −HK$110.0m |
| Diluted earnings per share | 0.07 | 0.01 | 0.00 | -0.01 | -0.02 | -0.07 | -0.03 | -0.04 |
| Cash from operations | −HK$12.0m | HK$2.0m | −HK$32.0m | HK$32.0m | −HK$35.0m | −HK$9.0m | HK$13.0m | HK$35.0m |
| Capital spending | — | −HK$2.0m | — | −HK$2.0m | −HK$1.0m | −HK$15.0m | −HK$1.0m | −HK$11.0m |
| Free cash flow | — | HK$0 | — | HK$30.0m | −HK$36.0m | −HK$24.0m | HK$12.0m | HK$24.0m |
| Total assets | HK$977.3m | HK$619.7m | HK$613.2m | HK$550.3m | HK$571.8m | HK$607.3m | HK$753.0m | HK$887.7m |
| Cash and short-term investments | HK$4.4m | HK$5.1m | HK$11.5m | HK$69.6m | HK$13.8m | HK$36.0m | HK$46.3m | HK$144.3m |
| Debt | HK$478.4m | HK$413.6m | HK$400.7m | HK$384.6m | HK$390.8m | HK$384.9m | HK$367.6m | HK$395.0m |
| Shareholders' equity | HK$141.2m | −HK$51.1m | −HK$63.8m | −HK$83.2m | −HK$46.6m | −HK$848,000 | HK$185.5m | HK$264.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -40.4% | -20.2% | -13.5% |
| Net income | — | — | -20.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -4.2% | -19.2% | -19.1% | -47.8% |
| Net margin | -27.0% | -71.3% | -62.5% | -95.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 10.4 | -2.3 | -0.9 | -2.4 | -20.0 | -4.8 | -1.1 | -0.5 | -1.1 | -0.2 |
| Price to sales | 4.2 | 1.3 | 1.3 | 1.5 | 5.2 | 3.9 | 0.6 | 0.4 | 0.8 | -6.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 4-to-1 reverse split · 12 Aug 2019
- 5-for-4 split · 20 May 2015
- 2-for-1 split · 5 Jan 2015
- 10-for-1 split · 2 Jan 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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