1.62
-1.22%
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$8.66bn
FY2016FY2025
Net income
−HK$9.2m
FY2016FY2025
Free cash flow
HK$14.3m
FY2016FY2025
Shareholders' equity
HK$757.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$8.66bn | HK$1.57bn | HK$2.83bn | HK$9.06bn | HK$610.7m | HK$276.6m | HK$312.3m | HK$345.4m | HK$306.4m | HK$289.0m |
| Gross profit | HK$47.6m | HK$44.2m | HK$10.4m | HK$110.8m | HK$302.6m | HK$77.9m | HK$57.8m | HK$56.6m | HK$67.6m | HK$69.1m |
| Operating income | −HK$76.2m | −HK$62.0m | −HK$176.1m | −HK$144.4m | HK$195.2m | −HK$15.7m | HK$14.2m | HK$12.1m | HK$18.4m | HK$41.8m |
| Net income | −HK$9.2m | HK$54.3m | −HK$287.4m | −HK$199.7m | HK$141.5m | −HK$32.6m | −HK$6.1m | HK$6.6m | HK$5.2m | HK$14.7m |
| Diluted earnings per share | -0.02 | 0.12 | -0.93 | -0.65 | 0.46 | -0.11 | -0.02 | 0.02 | 0.02 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.32bn | HK$461.1m | HK$748.6m | HK$1.07bn | HK$878.1m | HK$605.6m | HK$690.0m | HK$351.1m | HK$240.7m | HK$175.9m |
| Cash and short-term investments | HK$1.10bn | HK$196.8m | HK$336.7m | HK$620.0m | HK$555.5m | HK$403.7m | HK$474.7m | HK$206.0m | HK$90.2m | HK$74.5m |
| Total liabilities | HK$559.6m | HK$179.2m | HK$534.9m | HK$921.3m | HK$599.5m | HK$476.1m | HK$543.3m | HK$216.2m | HK$132.1m | HK$144.9m |
| Debt | HK$491.6m | HK$4.9m | HK$467.2m | HK$590.2m | HK$349.5m | HK$348.1m | HK$470.7m | HK$142.3m | HK$61.9m | HK$39.7m |
| Shareholders' equity | HK$757.1m | HK$281.9m | HK$206.3m | HK$134.9m | HK$278.6m | HK$129.5m | HK$146.7m | HK$134.9m | HK$108.6m | HK$31.0m |
| Shares outstanding | 607m | 466m | 309m | 308m | 309m | 307m | 305m | 305m | 300m | 291m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$16.5m | −HK$10.7m | −HK$245.2m | −HK$314.8m | HK$181.6m | HK$29.8m | HK$17.6m | HK$20.9m | −HK$20.8m | HK$43.8m |
| Capital spending | −HK$2.2m | −HK$25,000 | −HK$17.9m | −HK$20.2m | −HK$14.7m | −HK$2.7m | −HK$2.6m | −HK$5.2m | −HK$25.7m | −HK$630,000 |
| Free cash flow | HK$14.3m | −HK$10.8m | −HK$263.1m | −HK$335.0m | HK$166.9m | HK$27.1m | HK$14.9m | HK$15.6m | −HK$46.5m | HK$43.1m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$45.0m | −HK$28.5m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.97bn | HK$5.20bn | HK$3.46bn | HK$913.8m | HK$655.6m | HK$327.7m | HK$2.51bn | HK$9.10bn |
| Gross profit | HK$26.6m | HK$36.6m | HK$11.0m | HK$12.1m | HK$32.1m | HK$15.2m | −HK$4.8m | HK$83.2m |
| Operating income | −HK$95.5m | −HK$47.9m | −HK$28.3m | −HK$40.0m | −HK$22.0m | −HK$49.5m | −HK$132.3m | −HK$106.6m |
| Net income | −HK$244.9m | HK$3.1m | −HK$12.3m | −HK$45.5m | HK$99.8m | −HK$45.9m | −HK$241.5m | −HK$150.9m |
| Diluted earnings per share | -0.33 | 0.01 | -0.02 | -0.10 | 0.21 | -0.15 | -0.78 | -0.49 |
| Cash from operations | −HK$18.0m | HK$60.0m | −HK$26.0m | HK$138.0m | −HK$22.0m | −HK$243.0m | −HK$195.0m | −HK$98.0m |
| Capital spending | −HK$2.0m | −HK$1.0m | — | — | — | −HK$45.0m | −HK$62.0m | −HK$10.0m |
| Free cash flow | −HK$20.0m | HK$59.0m | — | — | — | −HK$288.0m | −HK$257.0m | −HK$108.0m |
| Total assets | HK$965.3m | HK$1.32bn | HK$448.4m | HK$461.1m | HK$330.7m | HK$748.6m | HK$719.3m | HK$1.07bn |
| Cash and short-term investments | HK$401.4m | HK$1.10bn | HK$247.3m | HK$196.8m | HK$46.4m | HK$336.7m | HK$188.3m | HK$620.0m |
| Debt | HK$329.6m | HK$491.6m | HK$4.2m | HK$4.9m | — | HK$467.2m | HK$522.1m | HK$590.2m |
| Shareholders' equity | HK$543.1m | HK$757.1m | HK$275.5m | HK$281.9m | HK$317.0m | HK$206.3m | −HK$95.4m | HK$134.9m |
Financial ratios
Data as of 31 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Gross margin | 0.6% | 2.8% | 0.4% | 1.2% | 49.6% | 28.2% |
| Operating margin | -0.9% | 3.9% | -9.4% | -2.0% | 32.0% | -5.7% |
| Net margin | -0.1% | 3.5% | -10.1% | -2.2% | 23.2% | -11.8% |
| Return on equity | -1.2% | 19.3% | -139.3% | -148.0% | 50.8% | -25.2% |
| Return on assets | -0.7% | 11.8% | -38.4% | -18.7% | 16.1% | -5.4% |
| Free cash flow yield | 1.7% | -1.4% | -48.7% | -62.7% | 36.1% | 6.0% |
| Revenue growth | 451.8% | -44.6% | -68.7% | 1383.0% | 120.8% | -11.5% |
| Earnings growth | -117.0% | -118.9% | 43.9% | -241.1% | -534.2% | 436.2% |
| Current ratio | 2.26x | 2.47x | 1.58x | 1.94x | 2.84x | 2.36x |
| Debt to equity | 0.65x | 0.01x | 2.26x | 4.13x | 1.13x | 2.44x |
| Equity ratio | 57.5% | 61.1% | 27.6% | 12.6% | 31.7% | 21.4% |
| Interest coverage | -25.66x | 12.86x | -17.74x | -14.68x | 14.27x | -0.93x |
| Buybacks as a share of market value | -30.3% | -50.8% | -0.2% | 0.1% | -0.6% | -0.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.5% | 99.1% | 38.7% |
| Operating income | -19.2% | 37.2% | — |
| Net income | -64.1% | -22.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 0.9% | 1.0% | 2.6% | 3.7% |
| Operating margin | -1.4% | -2.1% | -1.2% | -0.6% |
| Net margin | 0.4% | -2.0% | -1.4% | -1.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -168.1 | 16.2 | -2.3 | -4.1 | 17.9 | -58.3 | -211.7 | 171.0 | 65.9 | 23.4 |
| Price to sales | 0.2 | 0.6 | 0.2 | 0.1 | 4.2 | 6.9 | 4.1 | 3.3 | 1.1 | 1.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 2 Jun 2017.
| FY2017 | |
|---|---|
| Paid in the year | 0.05 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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