D 
0.33
+1.54%
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$82.1m
FY2017FY2026
Net income
−HK$44.4m
FY2017FY2026
Free cash flow
−HK$15.4m
FY2017FY2026
Shareholders' equity
HK$10.5m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$82.1m | HK$102.1m | HK$121.5m | HK$109.3m | HK$120.5m | HK$122.9m | HK$260.9m | HK$491.8m | HK$532.1m | HK$407.3m |
| Research and development | — | — | — | HK$1.4m | — | — | — | — | — | — |
| Operating income | −HK$43.6m | −HK$65.4m | −HK$93.5m | −HK$32.6m | −HK$47.0m | −HK$52.2m | −HK$9.6m | HK$22.4m | HK$21.0m | HK$29.4m |
| Net income | −HK$44.4m | −HK$72.6m | −HK$90.4m | −HK$26.6m | −HK$60.5m | −HK$52.8m | −HK$17.0m | HK$14.7m | HK$13.4m | HK$8.1m |
| Diluted earnings per share | -0.05 | -0.08 | -0.09 | -0.03 | -0.06 | -0.06 | -0.02 | 0.02 | 0.02 | 0.01 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$190.5m | HK$250.1m | HK$278.5m | HK$321.6m | HK$313.5m | HK$405.1m | HK$393.0m | HK$458.8m | HK$330.4m | HK$247.1m |
| Cash and short-term investments | HK$13.3m | HK$7.5m | HK$9.7m | HK$13.9m | HK$10.2m | HK$17.2m | HK$23.3m | HK$19.7m | HK$32.8m | HK$16.2m |
| Total liabilities | HK$180.0m | HK$235.7m | HK$260.7m | HK$311.4m | HK$282.0m | HK$313.2m | HK$268.0m | HK$316.7m | HK$166.8m | HK$197.5m |
| Debt | HK$103.4m | HK$154.1m | HK$171.9m | HK$121.2m | HK$100.4m | HK$206.1m | HK$118.1m | HK$139.3m | HK$63.6m | HK$63.1m |
| Shareholders' equity | HK$10.5m | HK$14.4m | HK$17.8m | HK$10.3m | HK$31.5m | HK$91.9m | HK$125.0m | HK$142.0m | HK$163.6m | HK$49.6m |
| Shares outstanding | 959m | 960m | 960m | 960m | 960m | 960m | 960m | 800m | 800m | 797m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$14.5m | −HK$29.3m | −HK$38.5m | −HK$20.2m | −HK$39.0m | −HK$111.1m | HK$9.3m | −HK$34.6m | −HK$59.8m | −HK$13.2m |
| Capital spending | −HK$914,000 | −HK$201,000 | −HK$1.4m | −HK$274,000 | −HK$12,000 | −HK$51,000 | −HK$19.9m | −HK$70,000 | −HK$251,000 | −HK$4.6m |
| Free cash flow | −HK$15.4m | −HK$29.5m | −HK$39.9m | −HK$20.5m | −HK$39.0m | −HK$111.1m | −HK$10.6m | −HK$34.6m | −HK$60.1m | −HK$17.7m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$2.4m | — |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$35.1m | HK$47.0m | HK$43.6m | HK$58.5m | HK$61.1m | HK$60.4m | HK$40.7m | HK$68.6m |
| Operating income | −HK$28.1m | −HK$14.8m | −HK$35.9m | −HK$28.6m | −HK$62.2m | −HK$31.7m | −HK$21.2m | −HK$8.9m |
| Net income | −HK$25.6m | −HK$924,000 | −HK$37.6m | −HK$35.0m | −HK$76.0m | −HK$14.4m | −HK$8.1m | −HK$18.5m |
| Diluted earnings per share | -0.03 | -0.00 | -0.04 | -0.04 | -0.08 | -0.02 | -0.01 | -0.02 |
| Cash from operations | −HK$3.0m | −HK$10.0m | −HK$8.0m | −HK$20.0m | −HK$34.0m | −HK$3.0m | −HK$7.0m | −HK$12.0m |
| Capital spending | — | — | — | — | −HK$1.0m | — | — | — |
| Free cash flow | — | — | — | — | −HK$35.0m | — | — | — |
| Total assets | HK$190.5m | HK$200.2m | HK$250.1m | HK$278.9m | HK$278.5m | HK$299.7m | HK$321.6m | HK$306.4m |
| Cash and short-term investments | HK$13.3m | HK$7.1m | HK$7.5m | HK$13.7m | HK$9.7m | HK$11.6m | HK$13.9m | HK$7.4m |
| Debt | HK$3.8m | HK$103.3m | HK$154.1m | HK$172.5m | HK$171.9m | HK$195.2m | HK$218.7m | HK$209.1m |
| Shareholders' equity | HK$10.5m | HK$16.7m | HK$14.4m | HK$16.0m | HK$17.8m | HK$15.6m | HK$10.3m | HK$11.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -9.1% | -7.7% | -13.8% |
| Operating income | 10.1% | -3.6% | — |
| Net income | 18.5% | -3.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -59.1% | -56.6% | -50.8% | -8.7% |
| Net margin | -63.5% | -56.4% | -52.7% | -11.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.2 | -5.2 | -2.4 | -13.0 | -5.5 | -5.8 | -15.8 | 9.1 | 13.1 | 42.1 |
| Price to sales | 4.4 | 3.7 | 1.8 | 3.2 | 2.8 | 2.5 | 1.0 | 0.3 | 0.3 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Sept 2017.
| FY2018 | |
|---|---|
| Paid in the year | 0.003 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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