M 
0.14
—
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$358.6m
FY2016FY2025
Net income
−HK$1.57bn
FY2016FY2025
Free cash flow
−HK$9.8m
FY2016FY2025
Shareholders' equity
HK$1.47bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$358.6m | HK$771.5m | HK$901.6m | HK$711.6m | HK$1.14bn | HK$700.7m | HK$2.36bn | HK$1.87bn | HK$1.84bn | HK$1.47bn |
| Operating income | −HK$249.4m | −HK$551.3m | −HK$268.8m | −HK$656.2m | −HK$800.5m | −HK$956.2m | −HK$64.2m | −HK$165.2m | −HK$330.6m | −HK$254.5m |
| Net income | −HK$1.57bn | −HK$622.6m | −HK$4.9m | −HK$607.2m | −HK$1.19bn | −HK$1.96bn | −HK$190.3m | HK$1.97bn | −HK$507.3m | −HK$277.5m |
| Diluted earnings per share | -2.50 | -1.00 | -0.01 | -0.98 | -1.92 | -0.32 | -0.03 | 3.14 | -0.81 | -0.44 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$4.43bn | HK$5.88bn | HK$6.86bn | HK$7.15bn | HK$7.97bn | HK$8.69bn | HK$11.18bn | HK$10.99bn | HK$11.68bn | HK$11.27bn |
| Cash and short-term investments | HK$28.8m | HK$68.9m | HK$64.9m | HK$89.0m | HK$134.3m | HK$125.3m | HK$1.56bn | HK$1.45bn | HK$235.6m | HK$207.9m |
| Total liabilities | HK$2.96bn | HK$2.84bn | HK$3.16bn | HK$3.44bn | HK$3.66bn | HK$3.17bn | HK$3.72bn | HK$3.30bn | HK$5.44bn | HK$4.58bn |
| Debt | HK$2.49bn | HK$2.49bn | HK$2.66bn | HK$2.66bn | HK$2.52bn | HK$2.07bn | HK$2.04bn | HK$2.05bn | HK$3.24bn | HK$3.45bn |
| Shareholders' equity | HK$1.47bn | HK$3.04bn | HK$3.71bn | HK$3.71bn | HK$4.31bn | HK$5.52bn | HK$7.46bn | HK$7.69bn | HK$6.24bn | HK$6.69bn |
| Shares outstanding | 626m | 620m | 620m | 620m | 620m | 6,201m | 6,222m | 627m | 627m | 628m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$34.3m | HK$171.4m | HK$182.5m | −HK$242.6m | −HK$344.4m | −HK$440.4m | HK$287.8m | HK$241.6m | HK$349.3m | HK$43.6m |
| Capital spending | −HK$44.0m | −HK$14.8m | −HK$16.3m | −HK$42.4m | −HK$53.1m | −HK$276.7m | −HK$331.5m | −HK$946.4m | −HK$470.4m | −HK$1.85bn |
| Free cash flow | −HK$9.8m | HK$156.7m | HK$166.2m | −HK$285.0m | −HK$397.5m | −HK$717.1m | −HK$43.7m | −HK$704.9m | −HK$121.1m | −HK$1.81bn |
| Dividends paid | — | — | — | — | — | — | — | −HK$501.4m | — | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$172.7m | HK$190.5m | HK$168.1m | HK$381.1m | HK$390.4m | HK$481.4m | HK$420.2m | HK$167.9m |
| Operating income | −HK$68.0m | −HK$130.7m | −HK$118.7m | −HK$85.6m | −HK$84.1m | −HK$114.5m | −HK$91.1m | −HK$271.4m |
| Net income | −HK$136.8m | −HK$145.6m | −HK$1.42bn | −HK$512.7m | −HK$109.9m | HK$177.6m | −HK$182.5m | −HK$121.7m |
| Diluted earnings per share | -0.15 | -0.23 | -2.27 | -0.83 | -0.18 | 0.29 | -0.29 | -0.20 |
| Cash from operations | — | HK$49.0m | −HK$14.0m | HK$3.0m | HK$91.0m | HK$85.0m | HK$96.0m | −HK$146.0m |
| Capital spending | — | −HK$39.0m | −HK$4.0m | −HK$5.0m | −HK$9.0m | −HK$4.0m | −HK$11.0m | −HK$3.0m |
| Free cash flow | — | HK$10.0m | −HK$18.0m | −HK$2.0m | HK$82.0m | HK$81.0m | HK$85.0m | −HK$149.0m |
| Total assets | HK$4.36bn | HK$4.43bn | HK$4.44bn | HK$5.88bn | HK$6.44bn | HK$6.86bn | HK$7.03bn | HK$7.15bn |
| Cash and short-term investments | HK$39.6m | HK$28.8m | HK$41.2m | HK$68.9m | HK$81.6m | HK$64.9m | HK$94.7m | HK$87.3m |
| Debt | HK$2.39bn | HK$2.49bn | HK$2.49bn | HK$2.49bn | HK$2.50bn | HK$2.66bn | HK$2.71bn | HK$2.66bn |
| Shareholders' equity | HK$1.42bn | HK$1.47bn | HK$1.62bn | HK$3.04bn | HK$3.55bn | HK$3.71bn | HK$3.52bn | HK$3.71bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -20.4% | -12.5% | -13.0% |
| Operating income | -27.6% | -23.6% | 2.6% |
| Net income | 37.1% | -4.3% | 19.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -70.9% | -62.9% | -76.0% | -33.1% |
| Net margin | -193.7% | -102.1% | -129.9% | -38.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.1 | -1.4 | -235.7 | -4.1 | -3.2 | -30.8 | -356.5 | 4.3 | -14.4 | -35.5 |
| Price to sales | 0.5 | 1.2 | 1.3 | 3.5 | 3.4 | 85.8 | 28.7 | 4.6 | 4.0 | 6.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Jun 2018.
| FY2018 | |
|---|---|
| Paid in the year | 0.007 |
- 10-to-1 reverse split · 1 Aug 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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