Q 
0.14
-6.04%
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$26.6m
FY2017FY2026
Net income
−HK$25.0m
FY2017FY2026
Free cash flow
−HK$25.4m
FY2017FY2026
Shareholders' equity
HK$13.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$26.6m | HK$71.9m | HK$177.3m | HK$341.8m | HK$448.7m | HK$485.8m | HK$413.3m | HK$624.2m | HK$774.9m | HK$784.9m |
| Research and development | — | — | — | — | — | — | — | — | — | HK$42.7m |
| Operating income | −HK$16.2m | −HK$22.5m | −HK$23.8m | −HK$59.5m | −HK$36.5m | −HK$14.6m | −HK$21.4m | −HK$12.7m | −HK$20.5m | −HK$56.7m |
| Net income | −HK$25.0m | −HK$17.9m | −HK$73.9m | −HK$72.3m | −HK$94.4m | −HK$35.6m | −HK$87.7m | −HK$35.8m | −HK$34.5m | −HK$51.5m |
| Diluted earnings per share | -0.02 | -0.01 | -0.05 | -0.05 | -0.06 | -0.02 | -0.06 | -0.02 | -0.02 | -0.03 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$27.8m | HK$164.7m | HK$176.6m | HK$243.9m | HK$381.5m | HK$438.8m | HK$477.8m | HK$608.7m | HK$649.1m | HK$794.9m |
| Cash and short-term investments | HK$22.4m | HK$84.0m | HK$78.0m | HK$61.9m | HK$60.5m | HK$67.6m | HK$122.4m | HK$142.2m | HK$154.2m | HK$146.0m |
| Total liabilities | HK$14.5m | HK$126.4m | HK$120.4m | HK$117.4m | HK$182.8m | HK$145.8m | HK$166.9m | HK$209.8m | HK$219.3m | HK$373.0m |
| Debt | HK$10.2m | HK$43.5m | HK$38.9m | HK$45.3m | HK$74.7m | HK$53.1m | HK$100.7m | HK$111.5m | HK$133.8m | HK$131.3m |
| Shareholders' equity | HK$13.2m | HK$38.2m | HK$56.1m | HK$126.4m | HK$198.7m | HK$293.1m | HK$310.9m | HK$399.0m | HK$429.7m | HK$421.3m |
| Shares outstanding | 1,474m | 1,474m | 1,474m | 1,474m | 1,474m | 1,474m | 1,474m | 1,474m | 1,474m | 1,474m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$25.4m | HK$11.9m | HK$23.7m | HK$35.1m | −HK$42.1m | HK$13.4m | −HK$38.8m | −HK$8.4m | HK$72.1m | HK$37.8m |
| Capital spending | — | −HK$20,000 | −HK$211,000 | −HK$5.7m | −HK$6.2m | −HK$1.3m | −HK$713,000 | −HK$13.9m | −HK$22.5m | −HK$7.9m |
| Free cash flow | −HK$25.4m | HK$11.9m | HK$23.5m | HK$29.4m | −HK$48.3m | HK$12.1m | −HK$39.5m | −HK$22.3m | HK$49.6m | HK$29.9m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | −HK$1.2m | HK$27.8m | HK$13.6m | HK$58.3m | HK$50.1m | HK$127.1m | HK$106.1m | HK$235.7m |
| Operating income | −HK$7.3m | −HK$8.9m | −HK$10.8m | −HK$11.7m | −HK$16.4m | −HK$7.4m | −HK$15.5m | −HK$10.9m |
| Net income | −HK$14.2m | −HK$10.8m | −HK$7.6m | −HK$10.2m | −HK$63.9m | −HK$9.9m | −HK$55.7m | −HK$16.6m |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | -0.01 | -0.04 | -0.01 | -0.04 | -0.01 |
| Cash from operations | — | HK$3.0m | HK$15.0m | −HK$3.0m | HK$13.0m | HK$9.0m | HK$9.0m | HK$30.0m |
| Capital spending | — | — | — | — | — | — | −HK$1.0m | −HK$4.0m |
| Free cash flow | — | — | — | — | — | — | HK$8.0m | HK$26.0m |
| Total assets | HK$27.8m | HK$67.7m | HK$164.7m | HK$202.6m | HK$176.6m | HK$233.2m | HK$243.9m | HK$329.4m |
| Cash and short-term investments | HK$22.4m | HK$44.2m | HK$84.0m | HK$70.6m | HK$78.0m | HK$67.7m | HK$61.9m | HK$62.8m |
| Debt | HK$10.2m | HK$30.8m | HK$43.5m | HK$44.7m | HK$38.9m | HK$38.9m | HK$45.3m | HK$55.6m |
| Shareholders' equity | HK$13.2m | HK$27.5m | HK$38.2m | HK$45.9m | HK$56.1m | HK$120.0m | HK$126.4m | HK$182.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -57.3% | -44.1% | -28.6% |
| Operating income | -35.2% | 2.1% | -7.0% |
| Net income | -29.8% | -6.8% | -10.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -39.2% | -19.8% | -11.2% | -6.5% |
| Net margin | -43.5% | -30.6% | -20.6% | -12.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.2 | -10.7 | -1.1 | -0.9 | -4.4 | -10.3 | -5.0 | -14.4 | -25.6 | -14.9 |
| Price to sales | 8.6 | 2.7 | 0.5 | 0.2 | 0.9 | 0.8 | 1.1 | 0.8 | 1.1 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Dec 2014.
| FY2015 | FY2014 | |
|---|---|---|
| Paid in the year | 0.012 | 0.013 |
- 4-for-1 split · 13 Jan 2016
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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