C 
0.41
-2.41%
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$48.2m
FY2016FY2025
Net income
−HK$533,000
FY2016FY2025
Free cash flow
−HK$20.0m
FY2016FY2025
Shareholders' equity
−HK$345.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$48.2m | HK$55.3m | HK$53.6m | HK$74.6m | HK$54.9m | HK$49.3m | HK$44.6m | HK$53.5m | HK$37.3m | HK$105.0m |
| Gross profit | HK$7.4m | HK$9.4m | HK$6.9m | HK$15.4m | HK$13.2m | HK$6.7m | −HK$58.6m | HK$11.2m | HK$9.1m | HK$74.7m |
| Operating income | −HK$13.2m | −HK$29.6m | −HK$36.5m | −HK$30.5m | −HK$29.6m | −HK$106.1m | −HK$894.7m | −HK$240.5m | −HK$206.3m | −HK$78.1m |
| Net income | −HK$533,000 | −HK$30.8m | −HK$24.3m | HK$96.6m | −HK$111.4m | −HK$114.1m | −HK$1.30bn | −HK$294.5m | −HK$378.7m | −HK$77.1m |
| Diluted earnings per share | -0.01 | -0.36 | -0.35 | 1.96 | -2.99 | -3.08 | -3.63 | -0.85 | -1.23 | -1.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$73.7m | HK$68.3m | HK$63.6m | HK$142.2m | HK$138.1m | HK$172.8m | HK$261.9m | HK$1.39bn | HK$1.19bn | HK$356.8m |
| Cash and short-term investments | HK$7.5m | HK$1.7m | HK$7.4m | HK$28.5m | HK$10.3m | HK$3.2m | HK$8.1m | HK$35.4m | HK$86.7m | HK$194.1m |
| Total liabilities | HK$419.2m | HK$428.7m | HK$393.3m | HK$497.7m | HK$677.5m | HK$591.5m | HK$614.7m | HK$501.8m | HK$160.8m | HK$180.7m |
| Debt | HK$234.5m | HK$248.6m | HK$237.2m | HK$227.0m | HK$308.5m | HK$283.3m | HK$373.8m | HK$297.1m | HK$97.3m | HK$90.0m |
| Shareholders' equity | −HK$345.4m | −HK$360.4m | −HK$329.6m | −HK$355.5m | −HK$539.4m | −HK$418.7m | −HK$352.8m | HK$888.2m | HK$1.03bn | HK$176.2m |
| Shares outstanding | 104m | 85m | 69m | 49m | 37m | 37m | 358m | 345m | 309m | 75m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$20.0m | −HK$12.5m | −HK$34.6m | −HK$52.8m | −HK$5.8m | −HK$27.8m | −HK$43.6m | −HK$177.1m | −HK$109.2m | −HK$71.3m |
| Capital spending | −HK$10,000 | −HK$81,000 | −HK$141,000 | −HK$193,000 | — | −HK$3,000 | −HK$3.6m | −HK$1.2m | −HK$918,000 | −HK$2.6m |
| Free cash flow | −HK$20.0m | −HK$12.6m | −HK$34.8m | −HK$53.0m | −HK$5.8m | −HK$27.8m | −HK$47.2m | −HK$178.3m | −HK$110.1m | −HK$73.9m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$14.7m | HK$33.6m | HK$14.6m | HK$29.7m | HK$25.6m | HK$23.4m | HK$30.2m | HK$37.9m |
| Gross profit | HK$2.1m | HK$4.8m | HK$2.7m | HK$7.1m | HK$2.3m | HK$754,000 | HK$6.2m | HK$7.3m |
| Operating income | −HK$11.1m | −HK$8.5m | −HK$4.7m | −HK$4.7m | −HK$14.6m | −HK$27.0m | −HK$9.4m | −HK$25.4m |
| Net income | −HK$15.7m | HK$7.0m | −HK$7.5m | −HK$20.8m | −HK$9.9m | −HK$9.4m | −HK$14.9m | HK$107.2m |
| Diluted earnings per share | -0.09 | 0.06 | -0.08 | -0.23 | -0.12 | -0.13 | -0.26 | 1.92 |
| Total assets | HK$108.6m | HK$73.7m | HK$66.1m | HK$68.3m | HK$76.8m | HK$63.6m | HK$123.5m | HK$142.2m |
| Cash and short-term investments | HK$63.2m | HK$7.5m | HK$2.0m | HK$1.7m | HK$2.0m | HK$7.4m | HK$7.0m | HK$28.5m |
| Debt | HK$205.5m | HK$194.6m | HK$236.4m | HK$246.9m | HK$246.8m | HK$205.3m | HK$206.5m | HK$195.4m |
| Shareholders' equity | −HK$288.1m | −HK$345.4m | −HK$355.7m | −HK$360.4m | −HK$338.3m | −HK$329.6m | −HK$344.0m | −HK$355.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.5% | -0.4% | -5.0% |
| Operating income | -24.5% | -34.1% | -10.5% |
| Net income | — | -65.8% | -38.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.3% | 16.9% | 17.6% | 25.4% |
| Operating margin | -41.3% | -47.4% | -73.1% | -259.5% |
| Net margin | -30.2% | 17.7% | -54.9% | -350.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -71.4 | -1.1 | -2.2 | 0.5 | -0.9 | -1.9 | -1.7 | -17.4 | -34.1 | -78.9 |
| Price to sales | 0.8 | 0.6 | 1.0 | 0.7 | 1.9 | 4.5 | 48.2 | 95.9 | 346.1 | 57.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Jan 1998.
- 10-to-1 reverse split · 20 Jun 2023
- 10-to-1 reverse split · 1 Sept 2021
- 10-to-1 reverse split · 3 Aug 2018
- 5-for-1 split · 12 Oct 2009
- 20-to-1 reverse split · 7 Apr 2005
- 5-for-1 split · 25 Apr 2002
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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