N 
1.25
-3.10%
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$288.9m
FY2016FY2025
Net income
−HK$100.9m
FY2016FY2025
Free cash flow
HK$7.4m
FY2016FY2025
Shareholders' equity
HK$155.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$288.9m | HK$294.7m | HK$205.3m | HK$262.3m | HK$332.0m | HK$255.4m | HK$461.9m | HK$410.9m | HK$368.8m | HK$363.2m |
| Operating income | −HK$98.7m | −HK$85.6m | −HK$49.3m | −HK$133.8m | HK$51.4m | HK$54.9m | −HK$50.1m | −HK$22.1m | −HK$53.7m | −HK$50.9m |
| Net income | −HK$100.9m | −HK$23.0m | −HK$34.8m | −HK$157.4m | HK$37.6m | HK$95.6m | −HK$59.8m | −HK$27.3m | −HK$56.2m | −HK$53.8m |
| Diluted earnings per share | -0.13 | -0.03 | -0.05 | -0.21 | 0.05 | 0.14 | -0.10 | -0.05 | -0.11 | -0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$464.9m | HK$977.5m | HK$588.5m | HK$682.0m | HK$848.6m | HK$669.1m | HK$678.4m | HK$571.5m | HK$451.9m | HK$440.2m |
| Cash and short-term investments | HK$298.5m | HK$305.2m | HK$274.1m | HK$267.6m | HK$330.2m | HK$248.6m | HK$230.5m | HK$117.6m | HK$199.8m | HK$298.6m |
| Total liabilities | HK$391.5m | HK$629.1m | HK$157.5m | HK$209.2m | HK$192.4m | HK$201.0m | HK$351.5m | HK$408.4m | HK$320.9m | HK$407.6m |
| Debt | HK$102.6m | HK$144.2m | HK$3.7m | HK$14.1m | HK$962,000 | HK$21.8m | HK$110.2m | HK$114.0m | HK$195.7m | HK$326.9m |
| Shareholders' equity | HK$155.2m | HK$317.8m | HK$345.6m | HK$380.6m | HK$553.7m | HK$378.1m | HK$260.5m | HK$105.0m | HK$131.0m | HK$32.7m |
| Shares outstanding | 795m | 768m | 769m | 747m | 806m | 705m | 588m | 534m | 534m | 441m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$7.5m | −HK$34.3m | HK$19.8m | −HK$23.8m | −HK$31.1m | HK$79.3m | HK$73.8m | HK$19.2m | −HK$9.4m | −HK$2.7m |
| Capital spending | −HK$107,000 | −HK$760,000 | −HK$1.2m | −HK$2.4m | −HK$26.8m | −HK$15.7m | −HK$49.0m | −HK$10.8m | −HK$27.8m | −HK$25.5m |
| Free cash flow | HK$7.4m | −HK$35.1m | HK$18.6m | −HK$26.2m | −HK$57.9m | HK$63.6m | HK$24.8m | HK$8.4m | −HK$37.2m | −HK$28.1m |
| Dividends paid | −HK$1.5m | — | — | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$95.6m | HK$108.2m | HK$180.7m | HK$94.6m | HK$94.6m | HK$52.7m | HK$52.7m | HK$47.7m |
| Operating income | −HK$4.0m | −HK$296.1m | HK$20.9m | −HK$38.3m | −HK$40.1m | −HK$2.7m | −HK$2.7m | −HK$20.8m |
| Net income | −HK$7.5m | −HK$124.2m | HK$47.5m | −HK$9.1m | −HK$9.1m | −HK$2.4m | −HK$2.4m | −HK$16.4m |
| Diluted earnings per share | -0.01 | -0.16 | 0.06 | -0.01 | -0.01 | -0.00 | -0.00 | -0.02 |
| Cash from operations | — | HK$7.0m | −HK$23.0m | HK$36.0m | — | −HK$71.0m | — | HK$7.0m |
| Capital spending | — | — | −HK$23.0m | −HK$36.0m | — | −HK$71.0m | — | — |
| Free cash flow | — | — | −HK$46.0m | HK$0 | — | −HK$142.0m | — | — |
| Total assets | HK$399.2m | HK$464.9m | HK$982.2m | HK$977.5m | HK$977.5m | HK$732.3m | HK$732.3m | HK$588.5m |
| Cash and short-term investments | HK$315.8m | HK$298.5m | HK$360.0m | HK$305.2m | HK$342.9m | HK$314.3m | HK$426.2m | HK$274.1m |
| Debt | HK$5.2m | HK$102.6m | HK$130.6m | HK$144.2m | HK$141.8m | HK$8.0m | HK$118.2m | HK$3.7m |
| Shareholders' equity | HK$120.0m | HK$155.2m | HK$346.7m | HK$317.8m | HK$317.8m | HK$334.0m | HK$334.0m | HK$345.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 3.3% | 2.5% | -3.2% |
| Operating income | -9.6% | — | — |
| Net income | -13.8% | — | 32.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -31.6% | -35.0% | -15.9% | -11.9% |
| Net margin | -21.2% | -30.1% | -11.2% | -10.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.8 | -40.1 | -25.6 | -5.6 | 30.0 | 8.3 | -18.6 | -36.2 | -19.8 | -15.7 |
| Price to sales | 3.1 | 3.1 | 4.3 | 3.4 | 3.4 | 3.1 | 2.4 | 2.4 | 3.0 | 2.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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