I 
0.15
-4.35%
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$186.2m
FY2016FY2025
Net income
−HK$228.7m
FY2016FY2025
Free cash flow
HK$191,000
FY2016FY2025
Shareholders' equity
HK$303.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$186.2m | HK$173.7m | HK$825.5m | HK$304.4m | HK$85.5m | HK$393.5m | HK$827.8m | HK$543.3m | HK$537.1m | HK$177.0m |
| Operating income | −HK$253.8m | −HK$1.4m | HK$53.7m | −HK$122.8m | −HK$138.6m | −HK$116.3m | −HK$108.7m | −HK$71.5m | −HK$42.7m | −HK$125.2m |
| Net income | −HK$228.7m | −HK$59.7m | −HK$72.7m | −HK$119.1m | −HK$132.3m | −HK$175.5m | −HK$218.0m | −HK$67.6m | −HK$78.5m | −HK$161.2m |
| Diluted earnings per share | -0.01 | -0.00 | -0.00 | -0.01 | -0.01 | -0.01 | -0.01 | -0.00 | -0.00 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.55bn | HK$1.97bn | HK$2.38bn | HK$3.16bn | HK$3.36bn | HK$2.97bn | HK$3.32bn | HK$4.54bn | HK$4.38bn | HK$3.04bn |
| Cash and short-term investments | HK$315.4m | HK$334.5m | HK$269.0m | HK$522.5m | HK$632.7m | HK$710.8m | HK$911.6m | HK$1.17bn | HK$1.51bn | HK$36.6m |
| Total liabilities | HK$1.24bn | HK$1.44bn | HK$1.79bn | HK$2.49bn | HK$2.59bn | HK$2.08bn | HK$2.24bn | HK$3.23bn | HK$3.02bn | HK$3.19bn |
| Debt | HK$534.4m | HK$538.0m | HK$853.4m | HK$846.4m | HK$802.0m | HK$630.9m | HK$605.9m | HK$882.4m | HK$1.24bn | HK$1.39bn |
| Shareholders' equity | HK$303.0m | HK$530.9m | HK$589.6m | HK$673.5m | HK$774.3m | HK$896.5m | HK$1.08bn | HK$1.31bn | HK$1.36bn | −HK$155.0m |
| Shares outstanding | 20,319m | 20,319m | 20,319m | 20,319m | 20,319m | 20,319m | 20,319m | 20,319m | 19,390m | 19,039m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$191,000 | −HK$24.6m | HK$25.2m | −HK$29.2m | HK$18.7m | −HK$8.0m | HK$38.9m | HK$189.4m | HK$52.7m | HK$237.2m |
| Capital spending | — | −HK$79.5m | −HK$302.2m | −HK$102.6m | −HK$122.5m | −HK$309.1m | −HK$98,000 | −HK$32.7m | −HK$81.6m | −HK$2.4m |
| Free cash flow | HK$191,000 | −HK$104.1m | −HK$277.1m | −HK$131.7m | −HK$103.8m | −HK$317.1m | HK$38.8m | HK$156.7m | −HK$28.9m | HK$234.8m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$38.4m | HK$79.3m | HK$106.9m | HK$33.5m | HK$100.2m | HK$738.3m | HK$87.2m | HK$45.2m |
| Operating income | −HK$76.4m | −HK$223.4m | −HK$30.4m | HK$47.6m | HK$18.4m | HK$85.9m | −HK$32.8m | −HK$109.0m |
| Net income | −HK$72.9m | −HK$181.0m | −HK$47.8m | HK$5.2m | −HK$64.9m | −HK$62.2m | −HK$10.5m | −HK$113.2m |
| Diluted earnings per share | -0.00 | -0.01 | -0.00 | 0.00 | -0.00 | -0.00 | -0.00 | -0.01 |
| Total assets | HK$2.00bn | HK$1.55bn | HK$1.95bn | HK$1.97bn | HK$2.29bn | HK$2.38bn | HK$2.94bn | HK$3.16bn |
| Cash and short-term investments | HK$727.6m | HK$315.4m | HK$326.1m | HK$334.5m | HK$331.9m | HK$269.0m | HK$288.6m | HK$522.5m |
| Debt | HK$89,000 | HK$486,000 | HK$23.6m | HK$21.8m | HK$123.9m | HK$132.8m | HK$230.9m | HK$187.9m |
| Shareholders' equity | HK$728.0m | HK$303.0m | HK$480.3m | HK$530.9m | HK$525.4m | HK$589.6m | HK$647.1m | HK$673.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.1% | -13.9% | 54.4% |
| Operating income | 27.4% | 16.9% | 27.4% |
| Net income | 24.3% | 5.4% | 0.2% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -70.9% | -21.8% | -29.4% | -23.4% |
| Net margin | -80.1% | -32.2% | -40.0% | -37.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -15.4 | -30.6 | -15.7 | -12.6 | -11.2 | -7.0 | -9.8 | -28.9 | -71.3 | -118.2 |
| Price to sales | 18.9 | 10.5 | 1.4 | 4.9 | 17.4 | 3.1 | 2.6 | 3.6 | 10.4 | 107.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 20 Aug 2007.
| FY2008 | FY2007 | FY2006 | FY2005 | FY2003 | |
|---|---|---|---|---|---|
| Paid in the year | 0.003 | 0.003 | 0.002 | 0.002 | 0.001 |
- 10-for-1 split · 3 Aug 2009
- 50-to-1 reverse split · 6 Aug 2001
- 5-for-1 split · 16 Aug 1997
- 10-to-1 reverse split · 11 Mar 1993
- 1-to-1 reverse split · 2 Mar 1993
- 2-for-1 split · 12 Apr 1990
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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