P 
0.07
-10.00%
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$79.2m
FY2016FY2025
Net income
−HK$2.1m
FY2016FY2025
Free cash flow
−HK$43.4m
FY2016FY2025
Shareholders' equity
−HK$73.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$79.2m | HK$168.8m | HK$563.5m | HK$441.9m | HK$608.2m | HK$622.1m | HK$730.7m | HK$426.3m | HK$374.2m | HK$396.2m |
| Research and development | HK$17.1m | HK$36.1m | HK$222.1m | HK$188.5m | HK$67.6m | HK$82.1m | HK$8.5m | — | — | — |
| Operating income | −HK$41.0m | −HK$134.5m | −HK$42.6m | −HK$80.0m | −HK$750.0m | −HK$83.0m | HK$47.3m | −HK$18.1m | −HK$24.2m | HK$3.6m |
| Net income | −HK$2.1m | −HK$283.7m | −HK$59.9m | −HK$85.3m | −HK$238.7m | −HK$627.7m | −HK$23.3m | HK$8.6m | HK$6.1m | HK$41.6m |
| Diluted earnings per share | -0.00 | -0.27 | -0.06 | -0.11 | -0.31 | -0.93 | -0.04 | 0.01 | 0.01 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$118.8m | HK$549.2m | HK$1.63bn | HK$1.67bn | HK$1.79bn | HK$2.10bn | HK$3.77bn | HK$670.2m | HK$710.6m | HK$687.0m |
| Cash and short-term investments | HK$74.8m | HK$43.3m | HK$144.2m | HK$246.4m | HK$255.7m | HK$227.9m | HK$420.1m | HK$180.2m | HK$204.6m | HK$204.6m |
| Total liabilities | HK$167.3m | HK$585.4m | HK$1.17bn | HK$1.16bn | HK$1.23bn | HK$1.26bn | HK$1.98bn | HK$56.3m | HK$55.2m | HK$49.8m |
| Debt | HK$80.1m | HK$149.2m | HK$68.9m | HK$640.3m | HK$753.0m | HK$684.5m | HK$579.9m | — | — | — |
| Shareholders' equity | −HK$73.9m | −HK$54.3m | HK$229.7m | HK$203.0m | HK$212.0m | HK$235.0m | HK$755.4m | HK$601.6m | HK$641.2m | HK$621.2m |
| Shares outstanding | 1,065m | 1,065m | 1,065m | 779m | 761m | 677m | 663m | 600m | 600m | 600m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$43.4m | −HK$159.9m | HK$94.3m | HK$14.1m | HK$9.8m | −HK$116.7m | HK$232.6m | HK$4.0m | HK$11.0m | HK$13.6m |
| Capital spending | — | −HK$1.2m | −HK$22.1m | −HK$19.4m | −HK$52.1m | −HK$51.1m | −HK$27.9m | −HK$10.8m | −HK$13.5m | −HK$5.1m |
| Free cash flow | −HK$43.4m | −HK$161.1m | HK$72.2m | −HK$5.4m | −HK$42.3m | −HK$167.7m | HK$204.8m | −HK$6.9m | −HK$2.5m | HK$8.5m |
| Dividends paid | — | — | — | — | — | — | — | −HK$27.0m | −HK$15.0m | −HK$15.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$20.2m | HK$58.9m | HK$20.3m | HK$78.6m | HK$90.2m | HK$80.1m | HK$483.4m | HK$412.2m |
| Operating income | HK$7.1m | −HK$38.5m | −HK$2.5m | −HK$21.7m | −HK$112.8m | −HK$109.9m | −HK$6.0m | −HK$38.7m |
| Net income | HK$152,000 | −HK$29.5m | HK$27.4m | −HK$57.7m | −HK$226.0m | −HK$42.8m | −HK$17.1m | −HK$42.7m |
| Diluted earnings per share | 0.00 | -0.03 | 0.03 | -0.05 | -0.21 | -0.04 | -0.02 | -0.05 |
| Cash from operations | −HK$74.0m | −HK$53.0m | HK$10.0m | −HK$83.0m | −HK$103.0m | HK$35.0m | HK$18.0m | −HK$60.0m |
| Capital spending | — | — | −HK$130.0m | −HK$1.0m | — | −HK$3.0m | −HK$18.0m | −HK$9.0m |
| Free cash flow | — | — | −HK$120.0m | −HK$84.0m | — | HK$32.0m | HK$0 | −HK$69.0m |
| Total assets | HK$132.8m | HK$118.8m | HK$212.4m | HK$549.2m | HK$1.30bn | HK$1.63bn | HK$1.67bn | HK$1.67bn |
| Cash and short-term investments | HK$20.0m | HK$74.8m | HK$139.0m | HK$43.3m | HK$37.1m | HK$144.2m | HK$370.8m | HK$400.7m |
| Debt | HK$100.8m | HK$80.1m | HK$76.2m | HK$149.2m | HK$67.0m | HK$68.9m | HK$578.4m | HK$635.8m |
| Shareholders' equity | −HK$72.3m | −HK$73.9m | −HK$45.3m | −HK$54.3m | HK$5.5m | HK$229.7m | HK$249.2m | HK$203.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -43.6% | -33.8% | -13.3% |
| Operating income | -20.0% | -13.2% | — |
| Net income | -70.9% | -68.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -70.8% | -23.8% | -45.5% | -23.4% |
| Net margin | -115.3% | -34.4% | -52.2% | -25.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -35.5 | -0.5 | -3.3 | -4.7 | -2.0 | -0.6 | -38.2 | 70.2 | 77.1 | 13.6 |
| Price to sales | 0.9 | 0.8 | 0.3 | 0.9 | 0.8 | 0.6 | 1.2 | 1.4 | 1.3 | 1.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 13 Sept 2018.
| FY2018 | FY2017 | FY2016 | |
|---|---|---|---|
| Paid in the year | 0.045 | 0.025 | 0.025 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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