S 
1.40
-4.11%
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$327.8m
FY2017FY2026
Net income
−HK$62.3m
FY2017FY2026
Free cash flow
HK$2.3m
FY2017FY2026
Shareholders' equity
−HK$25.8m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$327.8m | HK$477.7m | HK$571.4m | HK$623.4m | HK$456.0m | HK$371.3m | HK$590.9m | HK$641.7m | HK$676.9m | HK$671.0m |
| Gross profit | HK$53.4m | HK$87.5m | HK$87.4m | HK$107.2m | HK$61.1m | HK$43.8m | HK$111.4m | HK$92.9m | HK$124.8m | HK$108.2m |
| Operating income | −HK$44.4m | HK$8.8m | −HK$10.8m | HK$24.1m | −HK$52.3m | −HK$29.2m | −HK$46.5m | −HK$5.7m | HK$31.7m | HK$39.9m |
| Net income | −HK$62.3m | −HK$6.1m | −HK$18.4m | HK$19.9m | −HK$38.8m | −HK$33.3m | −HK$58.6m | −HK$22.7m | HK$20.0m | HK$31.1m |
| Diluted earnings per share | -1.95 | -0.18 | -0.73 | 0.83 | -1.94 | -0.17 | -2.93 | -0.03 | 0.03 | 0.04 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$218.5m | HK$250.3m | HK$321.5m | HK$301.6m | HK$324.2m | HK$384.6m | HK$372.7m | HK$385.6m | HK$364.5m | HK$412.2m |
| Cash and short-term investments | HK$26.0m | HK$14.7m | HK$27.0m | HK$20.9m | HK$33.4m | HK$63.9m | HK$47.8m | HK$75.7m | HK$66.5m | HK$47.1m |
| Total liabilities | HK$244.3m | HK$219.7m | HK$294.2m | HK$254.6m | HK$297.4m | HK$327.6m | HK$316.0m | HK$270.1m | HK$296.0m | HK$345.6m |
| Debt | HK$66.2m | HK$109.3m | HK$194.1m | HK$151.0m | HK$189.9m | HK$240.4m | HK$247.0m | HK$190.4m | HK$197.2m | HK$149.0m |
| Shareholders' equity | −HK$25.8m | HK$30.5m | HK$27.3m | HK$47.0m | HK$26.8m | HK$57.0m | HK$56.7m | HK$115.5m | HK$68.5m | HK$66.5m |
| Shares outstanding | 32m | 35m | 25m | 24m | 20m | 200m | 20m | 690m | 690m | 800m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$6.2m | HK$63.4m | −HK$16.8m | HK$37.9m | HK$19.5m | −HK$13.4m | −HK$22.6m | −HK$30.8m | HK$1.1m | −HK$1.7m |
| Capital spending | −HK$3.9m | −HK$281,000 | −HK$1.9m | −HK$1.4m | −HK$2.5m | −HK$1.6m | −HK$25.0m | −HK$2.6m | −HK$11.0m | −HK$1.2m |
| Free cash flow | HK$2.3m | HK$63.2m | −HK$18.7m | HK$36.5m | HK$17.0m | −HK$15.0m | −HK$47.6m | −HK$33.5m | −HK$9.8m | −HK$2.9m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$9.0m | −HK$9.0m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$179.2m | HK$204.1m | HK$273.6m | HK$249.2m | HK$322.2m | HK$161.1m | HK$285.7m | HK$337.7m |
| Gross profit | HK$28.0m | HK$35.9m | HK$51.6m | HK$40.9m | HK$51.1m | HK$25.6m | HK$54.4m | HK$52.8m |
| Operating income | −HK$2.5m | −HK$2.3m | HK$11.1m | −HK$7.3m | −HK$3.5m | −HK$3.8m | HK$13.4m | HK$10.6m |
| Net income | −HK$7.6m | −HK$9.4m | HK$3.2m | −HK$10.4m | −HK$8.0m | −HK$4.0m | HK$8.6m | HK$11.3m |
| Diluted earnings per share | -0.22 | -0.27 | 0.13 | -0.41 | -0.33 | -0.02 | 0.36 | 0.57 |
| Cash from operations | HK$48.0m | — | HK$62.0m | −HK$36.0m | −HK$46.0m | — | −HK$29.0m | HK$65.0m |
| Capital spending | — | — | — | — | — | — | — | −HK$1.0m |
| Free cash flow | — | — | — | — | — | — | — | HK$64.0m |
| Total assets | HK$232.8m | HK$250.3m | HK$304.0m | HK$321.5m | HK$287.7m | HK$287.7m | HK$301.6m | HK$306.8m |
| Cash and short-term investments | HK$14.2m | HK$14.7m | HK$22.6m | HK$27.0m | HK$15.1m | HK$15.1m | HK$20.9m | HK$31.5m |
| Debt | HK$68.0m | HK$109.3m | HK$121.6m | HK$194.1m | HK$128.1m | HK$130.9m | HK$146.6m | HK$128.5m |
| Shareholders' equity | HK$21.7m | HK$30.5m | HK$35.8m | HK$27.3m | HK$40.3m | HK$40.3m | HK$47.0m | HK$35.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.6% | -4.2% | -20.0% |
| Operating income | — | — | -25.4% |
| Net income | -45.9% | -36.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 16.7% | 16.1% | 16.1% | 16.3% |
| Operating margin | 0.6% | -0.7% | -3.1% | 1.7% |
| Net margin | -2.3% | -2.0% | -4.4% | 0.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.7 | -0.1 | 0.2 | -0.1 | -1.1 | -0.0 | -7.4 | 18.7 |
| Price to sales | 0.0 | — | 0.0 | 0.0 | 0.1 | — | 0.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 16 Mar 2026
- 4-to-1 reverse split · 6 Jul 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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