D 
0.77
-3.14%
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$323.7m
FY2017FY2026
Net income
HK$363.1m
FY2017FY2026
Free cash flow
−HK$558.9m
FY2017FY2026
Shareholders' equity
HK$2.69bn
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$323.7m | HK$189.7m | HK$202.4m | HK$179.4m | HK$300.4m | HK$422.7m | HK$226.0m | HK$186.4m | HK$279.4m | HK$206.2m |
| Gross profit | HK$220.0m | HK$138.9m | HK$130.5m | HK$84.0m | HK$156.4m | HK$234.9m | HK$29.3m | HK$20.4m | HK$54.2m | HK$53.5m |
| Operating income | −HK$20.0m | HK$164.4m | HK$117.6m | −HK$6.9m | HK$82.2m | HK$136.6m | −HK$11.8m | −HK$19.1m | HK$22.6m | HK$30.6m |
| Net income | HK$363.1m | HK$136.8m | HK$99.9m | −HK$49.2m | HK$109.8m | HK$200.8m | −HK$51.4m | HK$18.7m | HK$15.7m | HK$25.1m |
| Diluted earnings per share | 0.17 | 0.09 | 0.07 | -0.04 | 0.08 | 0.14 | -0.04 | 0.02 | 0.01 | 0.02 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$3.35bn | HK$1.29bn | HK$1.08bn | HK$894.7m | HK$914.8m | HK$627.9m | HK$211.1m | HK$180.5m | HK$115.7m | HK$90.9m |
| Cash and short-term investments | HK$525.3m | HK$31.7m | HK$39.8m | HK$83.5m | HK$154.6m | HK$56.2m | HK$50.7m | HK$52.3m | HK$42.4m | HK$34.0m |
| Total liabilities | HK$632.9m | HK$342.1m | HK$555.5m | HK$458.9m | HK$388.6m | HK$127.4m | HK$523,000 | HK$564,000 | HK$33.3m | HK$29.5m |
| Debt | HK$404.5m | HK$209.5m | HK$307.0m | HK$174.4m | HK$208.0m | HK$33.2m | HK$11.2m | HK$1.5m | HK$8.3m | HK$1.5m |
| Shareholders' equity | HK$2.69bn | HK$917.6m | HK$521.0m | HK$435.7m | HK$526.2m | HK$500.6m | HK$165.0m | HK$170.8m | HK$82.4m | HK$61.4m |
| Shares outstanding | 2,178m | 1,548m | 1,490m | 1,393m | 1,403m | 1,430m | 1,309m | 1,143m | 1,101m | 1,017m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$64.6m | HK$16.9m | −HK$33.7m | HK$194.6m | HK$108.1m | HK$49.1m | −HK$6.3m | HK$15.2m | HK$1.6m | HK$3.5m |
| Capital spending | −HK$494.3m | −HK$7.3m | −HK$1.3m | −HK$420,000 | −HK$2.2m | −HK$814,000 | −HK$1.6m | −HK$658,000 | −HK$77,000 | −HK$558,000 |
| Free cash flow | −HK$558.9m | HK$9.6m | −HK$35.0m | HK$194.2m | HK$106.0m | HK$48.3m | −HK$7.8m | HK$14.6m | HK$1.5m | HK$3.0m |
| Dividends paid | — | −HK$30.1m | −HK$15.0m | −HK$19.3m | −HK$63.8m | −HK$9.5m | −HK$9.5m | −HK$9.5m | −HK$9.5m | — |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$205.2m | HK$115.7m | HK$106.6m | HK$60.1m | HK$89.1m | HK$91.1m | HK$45.6m | HK$60.8m |
| Gross profit | HK$135.1m | HK$115.7m | HK$76.7m | HK$60.1m | HK$62.2m | HK$37.7m | HK$20.4m | HK$28.2m |
| Operating income | −HK$53.1m | HK$207.3m | −HK$31.3m | HK$30.5m | HK$106.8m | −HK$6.9m | −HK$3.5m | −HK$22.4m |
| Net income | HK$162.7m | HK$200.5m | HK$129.3m | HK$7.7m | HK$92.9m | HK$7.0m | HK$3.5m | −HK$19.0m |
| Diluted earnings per share | 0.07 | 0.13 | 0.08 | 0.01 | 0.06 | 0.01 | 0.00 | -0.01 |
| Cash from operations | −HK$332.0m | HK$267.0m | HK$24.0m | −HK$117.0m | HK$181.0m | −HK$215.0m | — | HK$229.0m |
| Capital spending | −HK$493.0m | — | −HK$1.0m | −HK$5.0m | −HK$1.0m | — | — | — |
| Free cash flow | −HK$825.0m | — | HK$23.0m | −HK$122.0m | HK$180.0m | — | — | — |
| Total assets | HK$3.35bn | HK$2.13bn | HK$1.29bn | HK$1.08bn | HK$1.08bn | HK$671.4m | HK$671.4m | HK$894.7m |
| Cash and short-term investments | HK$525.3m | HK$731.3m | HK$31.7m | HK$45.2m | HK$39.8m | HK$57.6m | HK$108.0m | HK$83.5m |
| Debt | HK$387.6m | HK$135.4m | HK$209.5m | HK$201.2m | HK$307.5m | HK$151.5m | HK$149.3m | HK$174.4m |
| Shareholders' equity | HK$2.69bn | HK$1.66bn | HK$917.6m | HK$724.8m | HK$521.0m | HK$427.6m | HK$427.6m | HK$435.7m |
Financial ratios
Data as of 22 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 68.0% | 73.2% | 64.5% | 46.8% | 52.1% | 55.6% |
| Operating margin | -6.2% | 88.2% | 59.7% | -18.9% | 43.1% | 52.0% |
| Net margin | 112.2% | 72.1% | 49.4% | -27.4% | 36.5% | 47.5% |
| Return on equity | 13.5% | 14.9% | 19.2% | -11.3% | 20.9% | 40.1% |
| Return on assets | 10.8% | 10.6% | 9.3% | -5.5% | 12.0% | 32.0% |
| Free cash flow yield | 25.0% | 2.0% | -2.7% | 17.7% | 10.0% | 4.4% |
| Revenue growth | 70.7% | -6.3% | 12.8% | -40.3% | -28.9% | 87.1% |
| Earnings growth | 165.4% | 36.9% | -303.1% | -144.8% | -45.3% | -490.6% |
| Current ratio | 2.02x | 2.45x | 1.75x | 127.88x | 19.52x | 3.47x |
| Debt to equity | 0.14x | 0.20x | 0.59x | 0.41x | 0.40x | 0.06x |
| Equity ratio | 80.1% | 71.1% | 48.4% | 48.7% | 57.5% | 79.7% |
| Interest coverage | -1.29x | 5.58x | 7.55x | -3.05x | 14.54x | 106.11x |
| Buybacks as a share of market value | -40.7% | -3.9% | -6.9% | 0.7% | 1.9% | -9.2% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 21.7% | -5.2% | 7.6% |
| Operating income | 42.7% | — | — |
| Net income | — | 12.6% | 56.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 69.9% | 64.1% | 59.6% | 43.5% |
| Operating margin | 28.1% | 28.5% | 29.3% | 19.3% |
| Net margin | 97.4% | 61.5% | 53.2% | 32.7% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.9 | 22.4 | 80.3 | -111.9 | 37.0 | 17.8 | -62.6 | 38.7 | 31.2 | 12.4 |
| Price to sales | 5.5 | 16.2 | 39.6 | 30.7 | 13.5 | 8.5 | 14.2 | 3.9 | 1.8 | 1.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 9 Sept 2026.
| FY2027 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.019 | 0.01 | 0.013 | 0.044 | 0.006 |
- 1.02-for-1 split · 19 Sept 2024
- 1.017-for-1 split · 23 Sept 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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