S 
3.92
-6.44%
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.
Net income
−HK$268.2m
FY2016FY2025
Free cash flow
HK$38.7m
FY2016FY2025
Shareholders' equity
HK$553.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Research and development | — | — | — | HK$0 | HK$0 | — | HK$0 | — | — | — |
| Operating income | HK$32.3m | −HK$429.0m | −HK$210.0m | HK$375.5m | −HK$16.6m | −HK$8.2m | HK$32.5m | HK$304.5m | HK$142.9m | HK$31.4m |
| Net income | −HK$268.2m | −HK$605.0m | −HK$294.6m | HK$329.9m | −HK$37.1m | HK$306.9m | HK$23.7m | HK$191.8m | HK$95.8m | HK$21.7m |
| Diluted earnings per share | -0.42 | -0.94 | -0.46 | 0.22 | -0.03 | 0.48 | 0.04 | 0.31 | 0.16 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.99bn | HK$2.48bn | HK$4.02bn | HK$5.11bn | HK$5.30bn | HK$4.13bn | HK$3.49bn | HK$3.32bn | HK$2.46bn | HK$1.37bn |
| Cash and short-term investments | HK$10.6m | HK$28.9m | HK$49.5m | HK$68.3m | HK$129.0m | HK$91.0m | HK$62.7m | HK$121.6m | HK$63.5m | HK$31.8m |
| Total liabilities | HK$1.45bn | HK$1.68bn | HK$2.61bn | HK$3.39bn | HK$3.92bn | HK$2.72bn | HK$2.78bn | HK$2.53bn | HK$1.82bn | HK$915.8m |
| Debt | HK$1.29bn | HK$1.42bn | HK$2.30bn | HK$2.97bn | HK$3.50bn | HK$2.43bn | HK$2.62bn | HK$2.36bn | HK$1.72bn | HK$741.7m |
| Shareholders' equity | HK$553.1m | HK$817.5m | HK$1.43bn | HK$1.73bn | HK$1.39bn | HK$1.42bn | HK$706.2m | HK$790.9m | HK$642.0m | HK$450.1m |
| Shares outstanding | 641m | 641m | 641m | 1,477m | 1,283m | 641m | 641m | 627m | 596m | 442m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$39.8m | HK$1.02bn | HK$846.4m | HK$806.9m | −HK$871.6m | −HK$114.7m | −HK$67.6m | −HK$490.0m | −HK$683.1m | −HK$44.1m |
| Capital spending | −HK$1.1m | −HK$115,000 | −HK$738,000 | −HK$4.8m | −HK$1.6m | −HK$703,000 | −HK$1.5m | −HK$434,000 | −HK$1.1m | −HK$60,000 |
| Free cash flow | HK$38.7m | HK$1.02bn | HK$845.7m | HK$802.1m | −HK$873.1m | −HK$115.4m | −HK$69.1m | −HK$490.4m | −HK$684.2m | −HK$44.2m |
| Dividends paid | — | — | — | — | — | −HK$14.1m | −HK$102.9m | −HK$50.2m | −HK$49.3m | −HK$49.3m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Operating income | −HK$26.0m | HK$21.0m | HK$11.3m | −HK$287.4m | −HK$141.6m | −HK$121.3m | −HK$24.5m | HK$385.1m |
| Net income | −HK$50.1m | −HK$248.3m | −HK$19.9m | −HK$386.5m | −HK$218.5m | −HK$264.9m | −HK$29.7m | HK$268.5m |
| Diluted earnings per share | -0.08 | -0.39 | -0.03 | -0.60 | -0.34 | -0.41 | -0.05 | 0.18 |
| Cash from operations | HK$30.0m | HK$2.0m | HK$37.0m | HK$477.0m | HK$451.0m | HK$854.0m | −HK$108.0m | HK$727.0m |
| Capital spending | — | — | — | — | — | — | — | −HK$4.0m |
| Free cash flow | — | — | — | — | — | — | — | HK$723.0m |
| Total assets | HK$1.81bn | HK$1.99bn | HK$2.37bn | HK$2.48bn | HK$3.40bn | HK$4.02bn | HK$5.34bn | HK$5.11bn |
| Cash and short-term investments | HK$16.3m | HK$10.6m | HK$11.0m | HK$28.9m | HK$23.7m | HK$59.5m | HK$119.8m | HK$68.3m |
| Debt | HK$1.01bn | HK$1.29bn | HK$1.38bn | HK$1.42bn | HK$1.96bn | HK$2.30bn | HK$3.14bn | HK$2.97bn |
| Shareholders' equity | HK$499.6m | HK$553.1m | HK$803.0m | HK$817.5m | HK$1.20bn | HK$1.43bn | HK$1.70bn | HK$1.73bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -49.8% | 15.2% | 10.6% |
| Operating income | -55.9% | — | 0.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -29.4% | -5.4% | -5.7% | 4.7% |
| Net margin | -64.8% | -19.5% | -12.7% | -3.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.9 | -1.6 | -4.7 | 17.2 | -136.5 | 8.4 | 154.5 | 26.2 | 52.9 | 183.1 |
| Price to sales | 3.6 | 0.9 | 1.1 | 3.4 | 64.6 | 24.3 | 30.5 | 7.5 | 6.9 | 97.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Oct 2020.
| FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|
| Paid in the year | 0.22 | 1.55 | 0.80 | 1.048 |
- 2-for-1 split · 4 May 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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