M 
0.25
+5.15%
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$183.8m
FY2017FY2026
Net income
−HK$13.0m
FY2017FY2026
Free cash flow
—
FY2017FY2026
Shareholders' equity
HK$63.5m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$183.8m | HK$263.9m | HK$460.3m | HK$205.9m | HK$232.2m | HK$278.2m | HK$420.3m | HK$669.8m | HK$560.3m | HK$346.4m |
| Gross profit | HK$5.7m | HK$5.5m | HK$20.2m | HK$12.1m | HK$8.8m | −HK$30.7m | HK$9.0m | HK$80.4m | HK$61.4m | HK$42.2m |
| Operating income | −HK$11.1m | −HK$27.1m | HK$1.1m | −HK$13.2m | −HK$2.7m | −HK$42.5m | −HK$5.6m | HK$64.8m | HK$48.5m | HK$34.0m |
| Net income | −HK$13.0m | −HK$32.2m | −HK$4.4m | −HK$18.7m | −HK$4.0m | −HK$32.5m | −HK$8.0m | HK$36.0m | HK$38.6m | HK$27.1m |
| Diluted earnings per share | -0.03 | -0.07 | -0.01 | -0.04 | -0.01 | -0.07 | -0.02 | 0.09 | 0.10 | 0.06 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$137.5m | HK$165.1m | HK$205.6m | HK$195.2m | HK$207.8m | HK$210.5m | HK$284.3m | HK$340.1m | HK$160.6m | HK$148.1m |
| Cash and short-term investments | HK$44.8m | HK$43.1m | HK$49.7m | HK$20.1m | HK$20.7m | HK$23.5m | HK$28.3m | HK$50.5m | HK$26.8m | HK$30.2m |
| Total liabilities | HK$74.0m | HK$88.5m | HK$96.9m | HK$82.0m | HK$76.0m | HK$74.7m | HK$116.0m | HK$125.3m | HK$91.6m | HK$117.7m |
| Debt | HK$41.7m | HK$52.5m | HK$48.9m | HK$49.8m | HK$44.4m | HK$44.3m | HK$44.7m | HK$25.1m | HK$33.6m | HK$30.8m |
| Shareholders' equity | HK$63.5m | HK$76.6m | HK$108.7m | HK$113.2m | HK$131.8m | HK$135.9m | HK$168.4m | HK$214.7m | HK$69.0m | HK$30.4m |
| Shares outstanding | 480m | 480m | 480m | 480m | 480m | 480m | 480m | 390m | 390m | 480m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | — | −HK$3.3m | HK$33.4m | −HK$2.8m | −HK$3.5m | HK$1.4m | −HK$3.9m | −HK$73.1m | HK$5.5m | HK$4.6m |
| Capital spending | — | — | — | — | — | — | −HK$1.2m | −HK$1.5m | −HK$8,000 | −HK$2,000 |
| Free cash flow | — | −HK$3.3m | HK$33.4m | −HK$2.8m | −HK$3.5m | HK$1.4m | −HK$5.1m | −HK$74.6m | HK$5.5m | HK$4.6m |
| Dividends paid | — | — | — | — | — | — | −HK$38.4m | −HK$38.4m | −HK$10.0m | −HK$10.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$73.7m | HK$110.1m | HK$125.4m | HK$138.5m | HK$242.2m | HK$218.0m | HK$108.6m | HK$97.3m |
| Gross profit | HK$1.1m | HK$4.7m | −HK$216,000 | HK$5.2m | HK$9.6m | HK$10.1m | HK$4.9m | HK$6.1m |
| Operating income | −HK$6.7m | −HK$4.4m | −HK$19.4m | −HK$7.2m | −HK$907,000 | HK$2.6m | −HK$11.1m | −HK$2.0m |
| Net income | −HK$9.3m | −HK$3.7m | −HK$21.7m | −HK$10.5m | −HK$4.1m | −HK$350,000 | −HK$14.0m | −HK$4.7m |
| Diluted earnings per share | -0.02 | -0.01 | -0.05 | -0.02 | -0.01 | -0.00 | -0.03 | -0.01 |
| Cash from operations | — | −HK$1.0m | HK$7.0m | −HK$10.0m | HK$12.0m | HK$20.0m | −HK$2.0m | — |
| Total assets | HK$137.5m | HK$167.4m | HK$165.1m | HK$182.9m | HK$205.6m | HK$209.1m | HK$195.2m | HK$201.1m |
| Cash and short-term investments | HK$44.8m | HK$49.9m | HK$43.1m | HK$38.9m | HK$49.7m | HK$40.3m | HK$20.1m | HK$23.1m |
| Debt | HK$768,000 | HK$55.1m | HK$52.5m | HK$53.6m | HK$48.9m | HK$48.9m | HK$49.8m | HK$48.5m |
| Shareholders' equity | HK$63.5m | HK$72.8m | HK$76.6m | HK$98.3m | HK$108.7m | HK$112.8m | HK$113.2m | HK$127.2m |
Financial ratios
Data as of 2 Nov 2026
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 3.1% | 2.1% | 4.4% | 5.9% | 3.8% | -11.0% | — | — | — | — | — |
| Operating margin | -6.0% | -10.3% | 0.3% | -6.4% | -1.1% | -11.1% | — | — | — | — | — |
| Net margin | -7.1% | -12.2% | -1.0% | -9.1% | -1.7% | -11.7% | — | — | — | — | — |
| Return on equity | -20.5% | -42.0% | -4.1% | -16.5% | -3.0% | -23.9% | — | — | — | — | — |
| Return on assets | -9.5% | -19.5% | -2.2% | -9.6% | -1.9% | -15.4% | — | — | — | — | — |
| Free cash flow yield | — | — | — | — | — | — | -2.2% | -72.0% | 5.5% | 3.8% | 16.5% |
| Revenue growth | -30.4% | -42.7% | 123.6% | -11.3% | -16.5% | -33.8% | — | — | — | — | — |
| Earnings growth | -59.5% | 625.0% | -76.2% | 364.3% | -87.6% | 308.4% | — | — | — | — | — |
| Current ratio | 7.73x | 6.49x | 2.11x | 6.88x | 2.72x | 2.82x | — | — | — | — | — |
| Debt to equity | 0.01x | 0.68x | 0.45x | 0.43x | 0.34x | 0.32x | — | — | — | — | — |
| Equity ratio | 46.2% | 46.4% | 52.9% | 58.0% | 63.4% | 64.5% | — | — | — | — | — |
| Interest coverage | -2.76x | -5.37x | 0.24x | -13155.00x | -1.81x | -18.12x | — | — | — | — | — |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.7% | -8.0% | -2.6% |
| Operating income | -5.5% | -23.5% | — |
| Net income | -11.3% | -16.7% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.5% | 3.9% | 1.3% | 6.2% |
| Operating margin | -8.5% | -4.5% | -5.9% | 1.6% |
| Net margin | -10.1% | -6.1% | -6.5% | 0.0% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.4 | -11.5 | -54.1 | -20.9 | -46.1 | -4.9 | -3.6 | 1.3 | 1.6 |
| Price to sales | 0.7 | 1.4 | 0.5 | 1.9 | 0.8 | 0.6 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Sept 2019.
| FY2020 | |
|---|---|
| Paid in the year | 0.08 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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