T 
0.12
—
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$470.4m
FY2017FY2026
Net income
−HK$33.5m
FY2017FY2026
Free cash flow
−HK$50.8m
FY2017FY2026
Shareholders' equity
HK$84.8m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$470.4m | HK$400.2m | HK$258.0m | HK$259.1m | HK$204.3m | HK$151.8m | HK$536.6m | HK$835.2m | HK$911.5m | HK$468.4m |
| Gross profit | HK$11.7m | HK$8.3m | HK$30.2m | HK$46.3m | HK$39.8m | HK$19.5m | HK$54.2m | HK$88.4m | HK$103.2m | HK$49.4m |
| Operating income | −HK$27.0m | −HK$26.1m | −HK$4.6m | HK$17.3m | HK$5.2m | −HK$630,000 | HK$27.9m | HK$57.6m | HK$75.5m | HK$30.1m |
| Net income | −HK$33.5m | −HK$51.4m | HK$8.3m | HK$12.7m | HK$4.3m | HK$21.1m | HK$12.8m | HK$37.5m | HK$61.2m | HK$25.0m |
| Diluted earnings per share | -0.04 | -0.06 | 0.01 | 0.02 | 0.01 | 0.03 | 0.02 | 0.05 | 0.08 | 0.03 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$367.9m | HK$399.8m | HK$352.9m | HK$341.3m | HK$272.3m | HK$276.5m | HK$219.0m | HK$357.3m | HK$403.2m | HK$228.0m |
| Cash and short-term investments | HK$31.7m | HK$31.4m | HK$32.1m | HK$66.0m | HK$56.6m | HK$91.3m | HK$54.9m | HK$276.2m | HK$264.1m | HK$105.9m |
| Total liabilities | HK$283.1m | HK$281.5m | HK$183.2m | HK$179.9m | HK$123.6m | HK$132.1m | HK$95.6m | HK$218.7m | HK$259.3m | HK$129.3m |
| Debt | HK$143.9m | HK$155.8m | HK$73.8m | HK$65.4m | HK$23.1m | HK$30.2m | HK$1.5m | HK$5.0m | — | HK$561,000 |
| Shareholders' equity | HK$84.8m | HK$118.3m | HK$169.7m | HK$161.4m | HK$148.7m | HK$144.5m | HK$123.4m | HK$138.6m | HK$143.9m | HK$98.7m |
| Shares outstanding | 801m | 800m | 800m | 800m | 800m | 800m | 800m | 800m | 800m | 800m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$50.7m | −HK$63.8m | −HK$5.3m | −HK$20.5m | −HK$2.9m | HK$81.6m | −HK$91.4m | HK$39.1m | HK$175.5m | HK$48.3m |
| Capital spending | −HK$150,000 | −HK$803,000 | −HK$11.4m | −HK$5.3m | −HK$4.5m | −HK$215,000 | −HK$2.5m | −HK$4,000 | −HK$699,000 | −HK$300,000 |
| Free cash flow | −HK$50.8m | −HK$64.6m | −HK$16.7m | −HK$25.8m | −HK$7.4m | HK$81.4m | −HK$93.9m | HK$39.1m | HK$174.8m | HK$48.0m |
| Dividends paid | — | — | — | — | — | — | −HK$28.0m | −HK$30.0m | −HK$16.0m | −HK$16.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$210.1m | HK$260.3m | HK$219.5m | HK$180.7m | HK$130.5m | HK$127.5m | HK$63.7m | HK$154.3m |
| Gross profit | HK$6.9m | HK$4.8m | HK$3.8m | HK$4.5m | HK$12.0m | HK$18.2m | HK$9.1m | HK$28.9m |
| Operating income | −HK$16.1m | −HK$10.9m | −HK$15.1m | −HK$11.7m | −HK$7.3m | HK$2.7m | HK$350,000 | HK$12.0m |
| Net income | −HK$17.3m | −HK$16.2m | −HK$37.6m | −HK$13.8m | HK$8.0m | HK$240,000 | HK$120,000 | HK$10.1m |
| Diluted earnings per share | -0.02 | -0.02 | -0.05 | -0.02 | 0.01 | 0.00 | — | 0.01 |
| Cash from operations | HK$2.0m | −HK$2.0m | −HK$35.0m | −HK$28.0m | HK$8.0m | −HK$14.0m | — | HK$52.0m |
| Capital spending | — | — | — | — | −HK$11.0m | — | — | −HK$5.0m |
| Free cash flow | — | — | — | — | −HK$3.0m | — | — | HK$47.0m |
| Total assets | HK$367.9m | HK$388.3m | HK$399.8m | HK$382.8m | HK$352.9m | HK$304.6m | HK$304.6m | HK$341.3m |
| Cash and short-term investments | HK$31.7m | HK$41.3m | HK$31.4m | HK$30.1m | HK$32.1m | HK$30.3m | HK$30.3m | HK$66.0m |
| Debt | HK$140.5m | HK$158.5m | HK$155.8m | HK$105.5m | HK$73.8m | HK$62.3m | HK$61.4m | HK$62.8m |
| Shareholders' equity | HK$84.8m | HK$102.1m | HK$118.3m | HK$155.9m | HK$169.7m | HK$161.6m | HK$161.6m | HK$161.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 22.0% | 25.4% | 11.3% |
| Operating income | — | 112.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.3% | 7.0% | 8.9% | 10.4% |
| Operating margin | -6.1% | -2.9% | -2.1% | 3.7% |
| Net margin | -9.7% | -4.6% | -2.2% | 2.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.8 | -1.4 | 4.5 | 5.6 | 39.2 | 7.2 | 11.2 | 7.3 | 6.5 | 16.7 |
| Price to sales | 0.2 | 0.2 | 0.1 | 0.3 | 0.8 | 1.0 | 0.3 | 0.3 | 0.4 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Dec 2019.
| FY2020 | FY2019 | FY2018 | |
|---|---|---|---|
| Paid in the year | 0.035 | 0.038 | 0.02 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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