E 
4.42
+0.68%
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$2.46bn
FY2017FY2026
Net income
HK$60.9m
FY2017FY2026
Free cash flow
−HK$202.7m
FY2017FY2026
Shareholders' equity
HK$978.7m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$2.46bn | HK$869.7m | HK$452.2m | HK$401.4m | HK$591.9m | HK$210.7m | HK$283.1m | HK$425.8m | HK$448.6m | HK$371.7m |
| Gross profit | HK$196.8m | HK$102.7m | HK$28.0m | HK$21.4m | HK$26.8m | HK$3.1m | HK$20.1m | HK$45.0m | HK$44.0m | HK$38.7m |
| Operating income | HK$63.6m | −HK$19.5m | −HK$83.6m | −HK$36.9m | −HK$67,000 | −HK$18.0m | −HK$2.5m | HK$27.4m | HK$33.1m | HK$29.3m |
| Net income | HK$60.9m | −HK$15.7m | −HK$78.9m | −HK$38.1m | −HK$19.4m | −HK$12.3m | −HK$2.1m | HK$16.8m | HK$23.3m | HK$22.5m |
| Diluted earnings per share | 0.02 | -0.01 | -0.03 | -0.02 | -0.01 | -0.01 | -0.00 | 0.02 | 0.03 | 0.03 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.57bn | HK$879.3m | HK$824.6m | HK$367.6m | HK$360.6m | HK$234.2m | HK$285.0m | HK$298.6m | HK$187.1m | HK$98.6m |
| Cash and short-term investments | HK$229.8m | HK$167.9m | HK$49.9m | HK$87.9m | HK$87.2m | HK$89.0m | HK$109.0m | HK$92.9m | HK$25.2m | HK$36.2m |
| Total liabilities | HK$588.9m | HK$412.3m | HK$590.7m | HK$179.2m | HK$204.7m | HK$66.2m | HK$96.7m | HK$108.2m | HK$103.6m | HK$53.4m |
| Debt | HK$98.4m | HK$100.0m | HK$18.4m | HK$54.8m | HK$688,000 | HK$522,000 | HK$1.8m | HK$30,000 | HK$8.6m | HK$13.6m |
| Shareholders' equity | HK$978.7m | HK$467.1m | HK$234.0m | HK$188.5m | HK$155.9m | HK$168.0m | HK$188.3m | HK$190.3m | HK$83.5m | HK$45.1m |
| Shares outstanding | 2,882m | 2,745m | 2,512m | 2,265m | 1,875m | 1,600m | 1,600m | 722m | 722m | 800m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$36.1m | HK$42.4m | −HK$50.8m | HK$28.0m | HK$1.1m | −HK$10.7m | HK$34.9m | −HK$41.3m | −HK$16.4m | HK$20.3m |
| Capital spending | −HK$166.6m | −HK$48.5m | −HK$16.3m | −HK$9.6m | −HK$152,000 | −HK$186,000 | −HK$242,000 | −HK$2.0m | −HK$21,000 | −HK$307,000 |
| Free cash flow | −HK$202.7m | −HK$6.1m | −HK$67.1m | HK$18.4m | HK$962,000 | −HK$10.9m | HK$34.6m | −HK$43.4m | −HK$16.4m | HK$20.0m |
| Dividends paid | — | — | — | — | — | −HK$8.0m | −HK$8.0m | −HK$3.6m | −HK$3.6m | −HK$3.6m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.65bn | HK$815.5m | HK$621.6m | HK$248.2m | HK$214.7m | HK$237.5m | HK$135.5m | HK$265.9m |
| Gross profit | HK$112.6m | HK$84.2m | HK$58.3m | HK$44.4m | HK$17.5m | HK$10.5m | HK$5.8m | HK$15.6m |
| Operating income | HK$42.1m | HK$18.4m | HK$9.9m | −HK$29.6m | −HK$59.1m | −HK$24.5m | −HK$27.7m | −HK$8.9m |
| Net income | HK$45.8m | HK$15.1m | HK$10.9m | −HK$26.6m | −HK$55.8m | −HK$23.1m | −HK$32.9m | −HK$5.2m |
| Diluted earnings per share | 0.02 | 0.01 | 0.00 | -0.01 | -0.02 | -0.01 | -0.01 | -0.00 |
| Cash from operations | −HK$2.0m | −HK$34.0m | HK$54.0m | −HK$12.0m | −HK$13.0m | −HK$37.0m | HK$35.0m | −HK$7.0m |
| Capital spending | −HK$60.0m | −HK$106.0m | −HK$41.0m | −HK$7.0m | −HK$1.0m | −HK$5.0m | — | −HK$8.0m |
| Free cash flow | −HK$62.0m | −HK$140.0m | HK$13.0m | −HK$19.0m | −HK$14.0m | −HK$42.0m | — | −HK$15.0m |
| Total assets | HK$1.57bn | HK$1.00bn | HK$879.3m | HK$810.5m | HK$824.6m | HK$482.3m | HK$367.6m | HK$438.1m |
| Cash and short-term investments | HK$229.8m | HK$139.8m | HK$167.9m | HK$111.2m | HK$49.9m | HK$72.2m | HK$87.9m | HK$65.5m |
| Debt | HK$17.8m | HK$104.5m | HK$100.0m | HK$106.6m | HK$18.4m | HK$6.2m | HK$54.8m | HK$60.3m |
| Shareholders' equity | HK$978.7m | HK$624.9m | HK$467.1m | HK$324.4m | HK$234.0m | HK$260.9m | HK$188.5m | HK$210.5m |
Financial ratios
Data as of 7 Oct 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | |
|---|---|---|---|---|---|---|
| Gross margin | 8.0% | 11.8% | 6.2% | 5.3% | 4.5% | 1.5% |
| Operating margin | 2.6% | -1.1% | -17.3% | -9.2% | -3.2% | -6.7% |
| Net margin | 2.5% | -1.8% | -17.4% | -9.5% | -3.3% | -5.8% |
| Return on equity | 6.2% | -3.4% | -33.7% | -20.2% | -12.4% | -7.3% |
| Return on assets | 3.9% | -1.8% | -9.6% | -10.4% | -5.4% | -5.3% |
| Free cash flow yield | 1.0% | 0.8% | -0.3% | 0.4% | 0.0% | -0.1% |
| Revenue growth | 183.1% | 92.3% | 12.7% | -32.2% | 181.0% | -25.6% |
| Earnings growth | -487.1% | -80.0% | 107.2% | 96.3% | 57.5% | 500.4% |
| Current ratio | 1.73x | 1.66x | 1.14x | 1.31x | 1.71x | 3.21x |
| Debt to equity | 0.02x | 0.03x | 0.07x | 0.26x | 0.00x | 0.00x |
| Equity ratio | 62.5% | 53.1% | 28.4% | 51.3% | 43.2% | 71.7% |
| Interest coverage | 15.48x | -2.50x | -103.38x | -14.15x | -522.36x | -467.80x |
| Buybacks as a share of market value | -5.0% | -9.3% | -10.9% | -20.8% | -17.2% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 83.1% | 63.5% | 22.5% |
| Operating income | — | — | 9.8% |
| Net income | — | — | 12.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 9.0% | 8.3% | 7.6% | 8.1% |
| Operating margin | 1.3% | -1.8% | -1.9% | 0.3% |
| Net margin | 1.4% | -1.7% | -2.1% | -0.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 208.5 | -559.8 | -119.5 | -61.0 | -27.6 | -5.0 | -33.5 | 2.3 | 2.4 |
| Price to sales | 5.2 | 10.1 | 20.8 | 5.8 | 0.9 | 0.3 | 0.2 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Aug 2020.
| FY2021 | |
|---|---|
| Paid in the year | 0.005 |
- 2-for-1 split · 23 Sept 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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