P 
0.24
+8.64%
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$336.1m
FY2016FY2025
Net income
−HK$35.2m
FY2016FY2025
Free cash flow
HK$25.7m
FY2016FY2025
Shareholders' equity
HK$130.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$336.1m | HK$382.1m | HK$406.9m | HK$448.1m | HK$659.6m | HK$601.8m | HK$695.9m | HK$745.5m | HK$591.6m | HK$536.0m |
| Gross profit | HK$180.2m | HK$205.1m | HK$216.6m | HK$260.6m | HK$421.9m | HK$368.7m | HK$397.6m | HK$454.9m | HK$395.9m | HK$348.8m |
| Research and development | HK$13.8m | HK$11.2m | HK$15.0m | HK$22.3m | HK$23.9m | HK$20.8m | HK$33.5m | HK$26.4m | HK$19.3m | HK$18.1m |
| Operating income | −HK$16.2m | −HK$29.4m | −HK$51.6m | −HK$64.5m | HK$17.6m | HK$66.6m | −HK$61.2m | HK$9.2m | HK$26.7m | HK$40.4m |
| Net income | −HK$35.2m | −HK$35.4m | −HK$106.1m | −HK$120.2m | −HK$121.9m | HK$31.7m | −HK$227.3m | HK$20.8m | HK$1.9m | HK$32.2m |
| Diluted earnings per share | -0.08 | -0.09 | -0.27 | -0.30 | -0.31 | 0.08 | -0.82 | 0.08 | 0.01 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$693.8m | HK$715.7m | HK$844.0m | HK$1.02bn | HK$1.21bn | HK$1.37bn | HK$1.22bn | HK$1.33bn | HK$1.29bn | HK$860.2m |
| Cash and short-term investments | HK$21.2m | HK$12.8m | HK$47.2m | HK$91.4m | HK$85.1m | HK$91.4m | HK$68.0m | HK$104.9m | HK$113.6m | HK$223.9m |
| Total liabilities | HK$560.6m | HK$604.5m | HK$690.7m | HK$757.2m | HK$803.1m | HK$862.9m | HK$860.1m | HK$770.9m | HK$744.9m | HK$405.7m |
| Debt | HK$351.1m | HK$363.8m | HK$424.8m | HK$503.2m | HK$532.0m | HK$492.7m | HK$513.5m | HK$540.7m | HK$548.0m | HK$261.0m |
| Shareholders' equity | HK$130.5m | HK$111.2m | HK$153.2m | HK$258.3m | HK$401.6m | HK$511.7m | HK$362.1m | HK$562.2m | HK$549.1m | HK$454.5m |
| Shares outstanding | 442m | 395m | 395m | 395m | 394m | 395m | 279m | 276m | 247m | 222m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$28.5m | HK$104.0m | HK$79.6m | HK$65.8m | −HK$14.5m | HK$119.9m | HK$101.9m | HK$72.5m | −HK$42.8m | −HK$55.8m |
| Capital spending | −HK$2.8m | −HK$14.8m | −HK$21.7m | −HK$23.6m | −HK$6.6m | −HK$82.8m | −HK$97.0m | −HK$45.2m | −HK$101.6m | −HK$41.3m |
| Free cash flow | HK$25.7m | HK$89.2m | HK$57.9m | HK$42.3m | −HK$21.1m | HK$37.0m | HK$5.0m | HK$27.3m | −HK$144.4m | −HK$97.1m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$4.9m | −HK$19.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$159.7m | HK$163.8m | HK$172.3m | HK$174.5m | HK$207.6m | HK$211.8m | HK$195.1m | HK$217.3m |
| Gross profit | HK$91.6m | HK$85.0m | HK$95.1m | HK$91.9m | HK$113.3m | HK$104.1m | HK$110.7m | HK$111.4m |
| Operating income | −HK$6.8m | −HK$8.5m | −HK$21.4m | −HK$22.4m | −HK$7.0m | −HK$32.7m | −HK$18.9m | −HK$54.3m |
| Net income | −HK$14.2m | −HK$13.4m | −HK$21.8m | −HK$16.8m | −HK$18.7m | −HK$68.4m | −HK$37.7m | −HK$80.3m |
| Diluted earnings per share | -0.03 | -0.03 | -0.05 | -0.04 | -0.05 | -0.17 | -0.10 | -0.20 |
| Cash from operations | −HK$11.0m | −HK$14.0m | HK$23.0m | HK$52.0m | HK$29.0m | HK$42.0m | HK$11.0m | HK$4.0m |
| Capital spending | −HK$1.0m | — | — | −HK$13.0m | — | −HK$17.0m | −HK$4.0m | −HK$8.0m |
| Free cash flow | −HK$12.0m | — | — | HK$39.0m | — | HK$25.0m | HK$7.0m | −HK$4.0m |
| Total assets | HK$699.8m | HK$693.8m | HK$678.8m | HK$715.7m | HK$781.7m | HK$844.0m | HK$946.4m | HK$1.02bn |
| Cash and short-term investments | HK$12.2m | HK$21.2m | HK$49.9m | HK$12.8m | HK$51.1m | HK$47.2m | HK$82.6m | HK$107.0m |
| Debt | HK$288.2m | HK$351.1m | HK$374.4m | HK$363.8m | HK$412.5m | HK$424.8m | HK$435.9m | HK$477.3m |
| Shareholders' equity | HK$124.1m | HK$130.5m | HK$101.7m | HK$111.2m | HK$130.5m | HK$153.2m | HK$216.3m | HK$258.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.1% | -11.0% | -3.4% |
| Operating income | -36.9% | — | — |
| Net income | -33.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 53.6% | 54.8% | 58.3% | 60.5% |
| Operating margin | -6.4% | -10.3% | -2.7% | -0.3% |
| Net margin | -9.8% | -18.9% | -13.7% | -9.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.5 | -6.1 | -3.4 | -4.2 | -2.6 | 8.5 | -1.5 | 26.3 | 374.0 | 25.8 |
| Price to sales | 0.5 | 0.6 | 0.9 | 1.1 | 0.5 | 0.5 | 0.5 | 0.7 | 1.2 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2017.
| FY2017 | FY2016 | |
|---|---|---|
| Paid in the year | 0.019 | 0.084 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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