S 
0.18
—
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$171.7m
FY2017FY2026
Net income
−HK$10.1m
FY2017FY2026
Free cash flow
−HK$5.9m
FY2017FY2026
Shareholders' equity
HK$314.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$171.7m | HK$197.9m | HK$267.7m | HK$258.4m | HK$272.0m | HK$240.1m | HK$254.6m | HK$219.7m | HK$150.0m | HK$175.9m |
| Gross profit | HK$34.8m | HK$21.0m | HK$41.3m | HK$32.8m | HK$104.1m | HK$109.5m | HK$102.5m | HK$75.6m | HK$60.0m | HK$60.8m |
| Operating income | HK$140,000 | −HK$86.6m | −HK$28.5m | −HK$30.9m | HK$58.5m | HK$70.1m | HK$65.7m | HK$40.0m | HK$33.7m | HK$23.6m |
| Net income | −HK$10.1m | −HK$77.8m | −HK$28.0m | −HK$41.0m | HK$38.0m | HK$88.2m | HK$36.9m | HK$30.6m | HK$28.2m | HK$17.2m |
| Diluted earnings per share | -0.00 | -0.01 | -0.00 | -0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | 0.00 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$417.4m | HK$416.0m | HK$516.4m | HK$558.0m | HK$613.5m | HK$570.1m | HK$561.1m | HK$577.6m | HK$387.9m | HK$377.6m |
| Cash and short-term investments | HK$35.4m | HK$32.6m | HK$43.7m | HK$60.4m | HK$115.5m | HK$162.5m | HK$75.5m | HK$193.8m | HK$67.4m | HK$137.7m |
| Total liabilities | HK$103.1m | HK$98.6m | HK$117.7m | HK$123.5m | HK$125.5m | HK$128.2m | HK$215.9m | HK$267.2m | HK$109.9m | HK$128.2m |
| Debt | HK$12.7m | HK$17.9m | HK$32.9m | HK$51.0m | HK$40.4m | HK$20.6m | HK$66.3m | HK$57.5m | HK$67.8m | HK$62.5m |
| Shareholders' equity | HK$314.2m | HK$317.4m | HK$398.7m | HK$434.5m | HK$488.0m | HK$442.0m | HK$345.3m | HK$310.4m | HK$278.0m | HK$249.4m |
| Shares outstanding | 6,170m | 6,195m | 6,195m | 6,195m | 6,195m | 6,195m | 6,195m | 6,195m | 6,195m | 6,195m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$29.5m | HK$45.9m | HK$84.0m | HK$124.7m | −HK$23.1m | HK$129.8m | HK$71.5m | HK$98.4m | HK$33.0m | HK$35.8m |
| Capital spending | −HK$35.4m | −HK$22.5m | −HK$41.1m | −HK$46.3m | −HK$25.4m | −HK$65.5m | −HK$93.6m | −HK$56.1m | −HK$120.7m | −HK$92.8m |
| Free cash flow | −HK$5.9m | HK$23.5m | HK$42.9m | HK$78.4m | −HK$48.5m | HK$64.3m | −HK$22.1m | HK$42.3m | −HK$87.7m | −HK$57.0m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −HK$15.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$87.1m | HK$84.6m | HK$87.1m | HK$110.8m | HK$114.7m | HK$153.0m | HK$129.6m | HK$128.8m |
| Gross profit | HK$10.8m | HK$23.9m | −HK$6.8m | HK$27.8m | HK$14.0m | HK$27.4m | HK$15.6m | HK$17.2m |
| Operating income | HK$2.4m | HK$366,000 | −HK$17.4m | −HK$9.7m | −HK$38.0m | HK$6.9m | −HK$5.4m | −HK$25.5m |
| Net income | −HK$10.5m | HK$396,000 | −HK$70.4m | −HK$7.4m | −HK$34.0m | HK$5.7m | −HK$11.5m | −HK$29.4m |
| Diluted earnings per share | -0.00 | 0.00 | -0.01 | -0.00 | -0.01 | 0.00 | -0.00 | -0.00 |
| Cash from operations | — | HK$29.0m | — | HK$45.0m | HK$83.0m | — | HK$4.0m | HK$120.0m |
| Capital spending | −HK$35.0m | — | −HK$22.0m | −HK$45.0m | −HK$41.0m | — | −HK$16.0m | −HK$30.0m |
| Free cash flow | — | — | — | HK$0 | HK$42.0m | — | −HK$12.0m | HK$90.0m |
| Total assets | HK$417.4m | HK$410.9m | HK$416.0m | HK$525.5m | HK$516.4m | HK$545.2m | HK$558.0m | HK$556.8m |
| Cash and short-term investments | HK$35.4m | HK$27.9m | HK$32.6m | HK$47.9m | HK$43.7m | HK$63.0m | HK$60.4m | HK$112.4m |
| Debt | HK$12.4m | HK$8.5m | HK$17.9m | HK$15.6m | HK$32.9m | HK$35.2m | HK$51.0m | HK$31.4m |
| Shareholders' equity | HK$314.2m | HK$323.4m | HK$317.4m | HK$394.3m | HK$398.7m | HK$433.0m | HK$434.5m | HK$440.7m |
Financial ratios
Data as of 26 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 20.2% | 10.6% | 15.4% | 12.7% | 38.3% | 45.6% |
| Operating margin | 0.1% | -42.9% | -9.9% | -13.0% | 22.8% | 45.0% |
| Net margin | -5.9% | -39.3% | -10.5% | -15.9% | 14.0% | 36.7% |
| Return on equity | -3.2% | -24.5% | -7.0% | -9.4% | 7.8% | 20.0% |
| Return on assets | -2.4% | -18.7% | -5.4% | -7.3% | 6.2% | 15.5% |
| Free cash flow yield | 5.3% | 5.6% | 10.3% | 14.0% | 0.2% | 16.0% |
| Revenue growth | -13.2% | -26.1% | 3.6% | -5.0% | 13.3% | -5.7% |
| Earnings growth | -87.0% | 177.5% | -31.6% | -207.9% | -56.9% | 138.8% |
| Current ratio | 2.20x | 2.66x | 2.06x | 2.39x | 4.82x | 2.90x |
| Debt to equity | 0.04x | 0.06x | 0.08x | 0.11x | 0.08x | 0.03x |
| Equity ratio | 75.3% | 76.3% | 77.2% | 77.9% | 79.5% | 77.5% |
| Interest coverage | 0.36x | -79.14x | -15.96x | -17.18x | 48.04x | 58.86x |
| Buybacks as a share of market value | 0.4% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -12.7% | -6.5% | -1.8% |
| Operating income | — | -71.2% | -43.3% |
| Net income | -37.3% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.1% | 14.5% | 24.4% | 29.0% |
| Operating margin | -23.4% | -16.3% | -1.2% | 7.7% |
| Net margin | -23.8% | -17.5% | -2.2% | 4.8% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -118.6 | -38.6 | -30.9 | -30.7 | 68.5 | 30.9 | 162.7 | 251.0 | 442.3 | 35.0 |
| Price to sales | 7.0 | 15.2 | 3.2 | 4.9 | 9.6 | 11.3 | 23.6 | 35.0 | 83.3 | 3.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-for-1 split · 17 Oct 2019
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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