S 
0.11
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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$152.4m
FY2016FY2025
Net income
−HK$12.0m
FY2016FY2025
Free cash flow
−HK$7.6m
FY2016FY2025
Shareholders' equity
HK$22.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$152.4m | HK$144.0m | HK$177.4m | HK$110.3m | HK$223.1m | HK$303.9m | HK$325.2m | HK$379.6m | HK$359.3m | HK$427.0m |
| Research and development | — | — | HK$7.7m | HK$1.7m | — | — | — | — | — | — |
| Operating income | −HK$13.0m | −HK$23.2m | −HK$14.2m | −HK$144.2m | −HK$24.5m | HK$6.0m | −HK$5.5m | HK$10.6m | HK$29.8m | HK$24.4m |
| Net income | −HK$12.0m | −HK$10.1m | −HK$1.8m | −HK$135.8m | −HK$21.3m | HK$10.3m | −HK$11.1m | HK$9.9m | HK$23.7m | HK$20.4m |
| Diluted earnings per share | -0.01 | -0.01 | -0.00 | -0.17 | -0.03 | 0.01 | -0.01 | 0.01 | 0.03 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$49.2m | HK$64.1m | HK$201.8m | HK$149.1m | HK$350.6m | HK$256.2m | HK$287.4m | HK$247.6m | HK$211.2m | HK$206.3m |
| Cash and short-term investments | HK$22.4m | HK$32.6m | HK$41.5m | HK$53.2m | HK$110.7m | HK$147.2m | HK$180.3m | HK$88.5m | HK$101.6m | HK$94.7m |
| Total liabilities | HK$26.5m | HK$29.4m | HK$158.7m | HK$107.4m | HK$171.1m | HK$52.8m | HK$94.1m | HK$155.7m | HK$114.3m | HK$130.3m |
| Debt | HK$3.6m | HK$2.9m | HK$50.5m | HK$6.1m | HK$4.0m | HK$18.4m | HK$2.6m | HK$2.2m | HK$341,000 | HK$325,000 |
| Shareholders' equity | HK$22.7m | HK$34.7m | HK$45.7m | HK$47.2m | HK$182.2m | HK$203.6m | HK$193.3m | HK$91.9m | HK$95.3m | HK$74.6m |
| Shares outstanding | 800m | 800m | 800m | 800m | 800m | 800m | 800m | 792m | 800m | 800m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$7.6m | HK$41.0m | −HK$39.5m | −HK$47.6m | −HK$25.1m | −HK$28.1m | −HK$12.1m | −HK$2.5m | HK$8.0m | HK$63.8m |
| Capital spending | −HK$9,000 | −HK$884,000 | −HK$2.1m | −HK$1.3m | −HK$2.5m | −HK$307,000 | −HK$4.6m | −HK$763,000 | −HK$374,000 | −HK$184,000 |
| Free cash flow | −HK$7.6m | HK$40.1m | −HK$41.6m | −HK$48.9m | −HK$27.6m | −HK$28.4m | −HK$16.7m | −HK$3.3m | HK$7.6m | HK$63.6m |
| Dividends paid | — | — | — | — | — | — | — | −HK$24,000 | −HK$3.5m | −HK$150,000 |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$76.7m | HK$66.9m | HK$85.5m | HK$51.8m | HK$75.1m | HK$118.3m | HK$107.6m | HK$21.2m |
| Operating income | −HK$7.6m | −HK$6.1m | −HK$6.9m | −HK$5.8m | −HK$17.4m | HK$3.1m | −HK$17.2m | −HK$104.5m |
| Net income | −HK$7.7m | −HK$5.0m | −HK$7.0m | −HK$32.9m | −HK$16.9m | HK$8.7m | −HK$10.5m | −HK$99.3m |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | -0.04 | -0.02 | 0.01 | -0.01 | -0.12 |
| Cash from operations | −HK$5.0m | −HK$5.0m | −HK$2.0m | HK$41.0m | HK$9.0m | −HK$4.0m | −HK$40.0m | −HK$20.0m |
| Capital spending | — | — | — | — | — | −HK$1.0m | — | −HK$1.0m |
| Free cash flow | — | — | — | — | — | −HK$5.0m | — | −HK$21.0m |
| Total assets | HK$47.6m | HK$49.2m | HK$54.0m | HK$64.1m | HK$153.4m | HK$201.8m | HK$181.1m | HK$149.1m |
| Cash and short-term investments | HK$15.9m | HK$22.4m | HK$28.8m | HK$32.6m | HK$29.7m | HK$41.5m | HK$55.2m | HK$53.2m |
| Debt | HK$2.2m | HK$3.6m | HK$1.6m | HK$2.9m | HK$34.7m | HK$44.1m | HK$56.5m | HK$6.1m |
| Shareholders' equity | HK$15.1m | HK$22.7m | HK$27.7m | HK$34.7m | HK$28.7m | HK$45.7m | HK$36.4m | HK$47.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 11.4% | -12.9% | -9.0% |
| Operating income | -55.2% | — | — |
| Net income | -55.5% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -12.2% | -33.3% | -19.2% | -4.2% |
| Net margin | -7.4% | -27.3% | -15.4% | -3.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -11.3 | -3.0 | -140.6 | -3.5 | -16.4 | 32.6 | -52.5 | 44.3 |
| Price to sales | 0.9 | 0.2 | 1.4 | 4.3 | 1.6 | 1.1 | 1.8 | 1.2 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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