C 
1.13
+13.00%
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$65.2m
FY2016FY2025
Net income
−HK$34.0m
FY2016FY2025
Free cash flow
HK$1.0m
FY2016FY2025
Shareholders' equity
−HK$752.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$65.2m | HK$111.9m | HK$67.3m | HK$138.5m | HK$124.9m | HK$118.6m | HK$154.4m | HK$183.9m | HK$237.9m | HK$200.3m |
| Research and development | HK$3.1m | HK$3.1m | HK$6.2m | HK$2.1m | HK$42.0m | HK$10.6m | HK$3.8m | HK$4.4m | HK$3.8m | HK$5.6m |
| Operating income | −HK$13.6m | −HK$41.1m | −HK$49.5m | −HK$106.0m | −HK$223.3m | −HK$148.6m | −HK$553.1m | −HK$114.8m | −HK$152.7m | −HK$253.2m |
| Net income | −HK$34.0m | −HK$72.4m | −HK$272.0m | −HK$146.0m | −HK$280.9m | −HK$623.9m | −HK$550.1m | −HK$169.5m | −HK$192.6m | −HK$298.0m |
| Diluted earnings per share | -2.20 | -4.69 | -17.61 | -9.46 | -18.19 | -99.82 | -90.25 | -34.71 | -45.02 | -69.66 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$131.6m | HK$157.6m | HK$114.6m | HK$504.6m | HK$573.2m | HK$747.5m | HK$1.08bn | HK$1.62bn | HK$1.69bn | HK$2.23bn |
| Cash and short-term investments | HK$76.2m | HK$63.8m | HK$40.7m | HK$88.5m | HK$108.0m | HK$76.4m | HK$64.7m | HK$146.0m | HK$193.5m | HK$689.7m |
| Total liabilities | HK$649.8m | HK$649.0m | HK$534.9m | HK$642.2m | HK$473.0m | HK$579.2m | HK$549.4m | HK$549.6m | HK$547.7m | HK$952.4m |
| Debt | HK$346.4m | HK$162.6m | HK$64.6m | HK$454.3m | HK$330.9m | HK$373.2m | HK$433.6m | HK$434.8m | HK$440.3m | HK$834.9m |
| Shareholders' equity | −HK$752.0m | −HK$723.2m | −HK$652.8m | −HK$372.7m | −HK$143.6m | −HK$91.1m | HK$235.6m | HK$732.7m | HK$790.5m | HK$934.6m |
| Shares outstanding | 15m | 15m | 15m | 15m | 15m | 6m | 6m | 5m | 4m | 4m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$11.4m | HK$27.9m | −HK$38.1m | −HK$49.1m | −HK$48.0m | −HK$21.3m | −HK$7.2m | −HK$34.0m | HK$284.6m | HK$272.1m |
| Capital spending | −HK$10.4m | −HK$128,000 | — | −HK$3.0m | −HK$5.3m | −HK$1.9m | −HK$38.2m | −HK$14.1m | −HK$35.4m | −HK$45.4m |
| Free cash flow | HK$1.0m | HK$27.8m | −HK$38.1m | −HK$52.1m | −HK$53.3m | −HK$23.2m | −HK$45.4m | −HK$48.1m | HK$249.3m | HK$226.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$32.4m | HK$51.6m | HK$13.5m | HK$97.0m | HK$19.9m | HK$47.5m | HK$63.1m | HK$75.4m |
| Operating income | −HK$20.1m | HK$6.4m | −HK$20.1m | HK$9.6m | −HK$23.1m | −HK$26.4m | −HK$236.3m | −HK$46.8m |
| Net income | HK$126.6m | −HK$29.4m | −HK$4.6m | −HK$67.7m | −HK$200.4m | −HK$71.6m | −HK$76.9m | −HK$69.1m |
| Diluted earnings per share | 5.83 | -1.90 | -0.30 | -4.39 | -12.98 | -4.64 | -4.98 | -4.48 |
| Cash from operations | — | HK$10.0m | HK$1.0m | HK$26.0m | −HK$38.0m | −HK$15.0m | −HK$75.0m | HK$35.0m |
| Capital spending | — | −HK$10.0m | −HK$1.0m | — | −HK$38.0m | — | — | −HK$26.0m |
| Free cash flow | — | HK$0 | HK$0 | — | −HK$76.0m | — | — | HK$9.0m |
| Total assets | HK$138.1m | HK$131.6m | HK$157.6m | HK$116.7m | HK$114.6m | HK$341.6m | HK$504.6m | HK$519.0m |
| Cash and short-term investments | HK$72.0m | HK$76.2m | HK$63.8m | HK$46.2m | HK$40.7m | HK$83.3m | HK$106.4m | HK$88.5m |
| Debt | HK$985,000 | HK$344.2m | HK$162.6m | HK$17.0m | HK$70.2m | HK$332.2m | HK$412.0m | HK$384.1m |
| Shareholders' equity | −HK$241.9m | −HK$752.0m | −HK$723.2m | −HK$720.3m | −HK$652.8m | −HK$450.8m | −HK$372.7m | −HK$302.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -22.2% | -11.3% | -20.5% |
| Operating income | -49.5% | -38.0% | -26.7% |
| Net income | -38.5% | -44.1% | -23.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -30.9% | -54.9% | -93.0% | -95.8% |
| Net margin | -60.1% | -136.9% | -228.2% | -153.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.0 | -0.2 | -0.1 | -0.5 | -0.7 | -0.2 | -0.2 | -2.4 | -3.5 | -3.7 |
| Price to sales | 0.5 | 0.1 | 0.3 | 0.6 | 1.6 | 0.9 | 0.8 | 2.2 | 2.8 | 5.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jun 2015.
| FY2015 | FY2014 | FY2013 | |
|---|---|---|---|
| Paid in the year | 0.50 | 0.48 | 0.36 |
- 20-to-1 reverse split · 20 Jan 2023
- 10-to-1 reverse split · 14 Jun 2019
- 4-for-1 split · 7 Aug 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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