V 
0.03
-7.14%
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$1.20bn
FY2016FY2025
Net income
−HK$201.5m
FY2016FY2025
Free cash flow
−HK$411.1m
FY2016FY2025
Shareholders' equity
HK$1.40bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.20bn | HK$1.52bn | HK$1.50bn | HK$3.36bn | HK$5.09bn | HK$3.39bn | HK$2.79bn | HK$2.42bn | HK$1.75bn | HK$1.53bn |
| Gross profit | HK$199.6m | HK$287.1m | −HK$84.2m | HK$556.5m | HK$699.9m | HK$735.0m | HK$681.8m | HK$706.7m | HK$574.3m | HK$497.8m |
| Research and development | HK$9.6m | HK$10.0m | — | — | — | — | — | — | HK$3.6m | HK$3.6m |
| Operating income | −HK$142.4m | HK$130.1m | −HK$1.83bn | HK$262.0m | HK$374.8m | HK$539.3m | HK$363.4m | HK$405.1m | HK$332.1m | HK$320.1m |
| Net income | −HK$201.5m | −HK$233.1m | −HK$2.85bn | −HK$316.9m | HK$45.7m | HK$516.3m | HK$283.6m | HK$213.3m | HK$331.9m | HK$222.0m |
| Diluted earnings per share | -0.03 | -0.03 | -0.72 | -0.12 | 0.02 | 0.20 | 0.11 | 0.08 | 0.13 | 0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$5.32bn | HK$5.86bn | HK$6.24bn | HK$8.91bn | HK$10.35bn | HK$9.13bn | HK$8.95bn | HK$7.39bn | HK$5.93bn | HK$5.03bn |
| Cash and short-term investments | HK$381.9m | HK$122.8m | HK$238.9m | HK$165.2m | HK$589.8m | HK$978.2m | HK$772.4m | HK$541.4m | HK$1.03bn | HK$1.39bn |
| Total liabilities | HK$3.92bn | HK$4.28bn | HK$4.35bn | HK$5.77bn | HK$6.82bn | HK$5.65bn | HK$6.09bn | HK$4.78bn | HK$3.47bn | HK$2.76bn |
| Debt | HK$1.78bn | HK$2.50bn | HK$2.82bn | HK$3.02bn | HK$3.97bn | HK$3.24bn | HK$4.02bn | HK$3.76bn | HK$1.39bn | HK$1.04bn |
| Shareholders' equity | HK$1.40bn | HK$1.58bn | HK$1.88bn | HK$3.14bn | HK$3.48bn | HK$3.44bn | HK$2.82bn | HK$2.57bn | HK$2.46bn | HK$2.26bn |
| Shares outstanding | 6,669m | 6,669m | 3,948m | 2,691m | 2,692m | 2,647m | 2,562m | 2,551m | 2,550m | 2,116m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$222.7m | HK$249.5m | HK$226.9m | HK$309.5m | −HK$841.7m | HK$1.83bn | HK$804.1m | −HK$202.8m | HK$626.8m | HK$128.2m |
| Capital spending | −HK$188.4m | −HK$36.8m | −HK$98.2m | −HK$170.1m | −HK$315.9m | −HK$306.2m | −HK$677.6m | −HK$1.02bn | −HK$1.08bn | −HK$337.4m |
| Free cash flow | −HK$411.1m | HK$212.7m | HK$128.7m | HK$139.4m | −HK$1.16bn | HK$1.52bn | HK$126.6m | −HK$1.22bn | −HK$455.1m | −HK$209.2m |
| Dividends paid | — | — | — | — | −HK$16.0m | −HK$96.0m | −HK$26.3m | −HK$82.4m | −HK$103.3m | −HK$50.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$620.1m | HK$590.6m | HK$612.1m | HK$703.9m | HK$816.6m | HK$499.5m | HK$998.1m | HK$1.59bn |
| Gross profit | HK$79.3m | HK$77.2m | HK$122.4m | HK$147.5m | HK$139.6m | −HK$149.9m | HK$65.7m | HK$198.1m |
| Operating income | HK$47.1m | −HK$138.5m | −HK$3.3m | HK$914,000 | −HK$18.9m | −HK$1.41bn | −HK$138.3m | HK$26.9m |
| Net income | −HK$40.7m | −HK$222.1m | HK$20.7m | −HK$94.5m | −HK$138.6m | −HK$2.53bn | −HK$327.7m | −HK$377.5m |
| Diluted earnings per share | -0.01 | -0.03 | 0.00 | -0.01 | -0.02 | -0.64 | -0.08 | -0.14 |
| Cash from operations | HK$24.0m | −HK$205.0m | −HK$86.0m | −HK$10.0m | HK$98.0m | −HK$174.0m | HK$126.0m | HK$100.0m |
| Capital spending | −HK$92.0m | −HK$139.0m | −HK$48.0m | −HK$14.0m | −HK$22.0m | −HK$43.0m | −HK$54.0m | −HK$110.0m |
| Free cash flow | −HK$68.0m | −HK$344.0m | −HK$134.0m | −HK$24.0m | HK$76.0m | −HK$217.0m | HK$72.0m | −HK$10.0m |
| Total assets | HK$5.54bn | HK$5.32bn | HK$5.59bn | HK$5.86bn | HK$6.00bn | HK$6.24bn | HK$8.28bn | HK$8.91bn |
| Cash and short-term investments | HK$339.1m | HK$381.9m | HK$310.2m | HK$122.8m | HK$253.2m | HK$238.9m | HK$128.4m | HK$165.2m |
| Debt | HK$1.71bn | HK$1.70bn | HK$2.11bn | HK$2.50bn | HK$2.44bn | HK$2.82bn | HK$2.99bn | HK$3.02bn |
| Shareholders' equity | HK$1.38bn | HK$1.40bn | HK$1.64bn | HK$1.58bn | HK$1.70bn | HK$1.88bn | HK$2.81bn | HK$3.14bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -29.0% | -18.7% | -0.1% |
| Net income | -14.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 17.9% | 12.6% | 14.9% | 20.2% |
| Operating margin | -0.5% | -20.9% | -4.2% | 3.7% |
| Net margin | -16.0% | -47.6% | -18.9% | -7.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.6 | -4.6 | -0.5 | -3.9 | 76.0 | 13.7 | 22.8 | 38.9 | 38.3 | 31.0 |
| Price to sales | 0.8 | 0.7 | 0.9 | 0.4 | 0.7 | 2.1 | 2.3 | 3.4 | 7.3 | 4.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Sept 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|
| Paid in the year | 0.008 | 0.00 | 0.01 | 0.00 | 0.00 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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