E 
1.48
-1.33%
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$79.3m
FY2016FY2025
Net income
−HK$52.5m
FY2016FY2025
Free cash flow
−HK$27.9m
FY2016FY2025
Shareholders' equity
HK$58.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$79.3m | HK$99.3m | HK$165.0m | HK$137.4m | HK$149.3m | HK$122.6m | HK$141.5m | HK$171.8m | HK$227.2m | HK$248.9m |
| Gross profit | HK$3.3m | HK$8.6m | HK$87.1m | HK$75.2m | HK$90.8m | HK$73.0m | HK$55.9m | HK$75.9m | HK$48.1m | HK$96.8m |
| Operating income | −HK$73.3m | −HK$77.9m | HK$26.8m | −HK$1.6m | −HK$19.2m | −HK$7.8m | −HK$67.5m | −HK$69.2m | −HK$156.2m | −HK$135.7m |
| Net income | −HK$52.5m | −HK$47.9m | HK$18.9m | −HK$12.1m | −HK$31.8m | HK$1.3m | −HK$79.0m | −HK$97.7m | −HK$197.3m | −HK$145.0m |
| Diluted earnings per share | -0.15 | -0.13 | 0.05 | -0.03 | -0.09 | 0.00 | -0.23 | -0.28 | -0.57 | -0.42 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$518.8m | HK$553.0m | HK$656.0m | HK$447.9m | HK$467.4m | HK$474.7m | HK$415.3m | HK$513.6m | HK$627.6m | HK$695.2m |
| Cash and short-term investments | HK$44.2m | HK$34.9m | HK$38.3m | HK$12.8m | HK$7.6m | HK$18.4m | HK$18.7m | HK$28.9m | HK$56.2m | HK$18.3m |
| Total liabilities | HK$460.1m | HK$451.1m | HK$488.2m | HK$340.1m | HK$354.6m | HK$322.9m | HK$274.9m | HK$289.0m | HK$310.0m | HK$202.1m |
| Debt | HK$37.0m | HK$347.0m | HK$342.3m | HK$40.7m | HK$296.5m | HK$32.1m | HK$9.4m | HK$10.0m | HK$241.6m | HK$137.2m |
| Shareholders' equity | HK$58.7m | HK$101.9m | HK$167.8m | HK$107.8m | HK$112.8m | HK$151.8m | HK$140.4m | HK$224.6m | HK$317.6m | HK$493.1m |
| Shares outstanding | 360m | 360m | 356m | 347m | 347m | 347m | 347m | 347m | 347m | 347m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$23.2m | −HK$27.3m | −HK$9.5m | −HK$1.7m | HK$3.1m | −HK$22.0m | HK$12.0m | HK$2.0m | −HK$28.0m | HK$15.6m |
| Capital spending | −HK$4.8m | −HK$5.5m | −HK$3.4m | −HK$2.5m | −HK$7.2m | −HK$5.8m | −HK$8.4m | −HK$8.2m | −HK$6.2m | −HK$27.8m |
| Free cash flow | −HK$27.9m | −HK$32.7m | −HK$13.0m | −HK$4.1m | −HK$4.0m | −HK$27.8m | HK$3.6m | −HK$6.2m | −HK$34.2m | −HK$12.1m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$47.2m | HK$41.3m | HK$38.0m | HK$59.2m | HK$40.1m | HK$82.5m | HK$82.5m | HK$78.0m |
| Gross profit | HK$9.9m | −HK$3.0m | HK$6.3m | −HK$10.8m | HK$19.4m | HK$43.0m | HK$44.1m | HK$36.1m |
| Operating income | −HK$21.2m | −HK$44.5m | −HK$28.9m | −HK$56.0m | −HK$21.9m | −HK$28.8m | HK$2.4m | HK$2.3m |
| Net income | −HK$6.0m | −HK$30.7m | −HK$21.8m | −HK$42.6m | −HK$5.3m | HK$17.6m | HK$1.3m | −HK$2.3m |
| Diluted earnings per share | -0.02 | -0.09 | -0.06 | -0.12 | -0.01 | 0.05 | 0.00 | -0.01 |
| Cash from operations | — | −HK$2.0m | −HK$20.0m | −HK$40.0m | HK$11.0m | HK$10.0m | −HK$22.0m | −HK$11.0m |
| Capital spending | — | −HK$7.0m | −HK$12.0m | −HK$5.0m | — | −HK$1.0m | −HK$1.0m | — |
| Free cash flow | — | −HK$9.0m | −HK$32.0m | −HK$45.0m | — | HK$9.0m | −HK$23.0m | — |
| Total assets | HK$487.9m | HK$518.8m | HK$550.7m | HK$553.0m | HK$607.3m | HK$656.0m | HK$642.6m | HK$447.9m |
| Cash and short-term investments | HK$9.2m | HK$44.2m | HK$25.5m | HK$34.9m | HK$10.9m | HK$43.3m | HK$3.0m | HK$6.3m |
| Debt | HK$376.1m | HK$37.0m | HK$374.5m | HK$347.0m | HK$333.2m | HK$342.3m | HK$316.3m | HK$289.9m |
| Shareholders' equity | HK$47.9m | HK$58.7m | HK$93.9m | HK$101.9m | HK$154.5m | HK$167.8m | HK$147.3m | HK$107.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.7% | -8.3% | -15.2% |
| Operating income | 257.1% | 56.4% | 32.1% |
| Net income | 63.2% | — | 16.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.7% | 36.2% | 44.9% | 43.6% |
| Operating margin | -84.7% | -26.2% | -20.3% | -30.0% |
| Net margin | -56.2% | -19.5% | -16.5% | -33.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -8.3 | -8.6 | 23.1 | -44.5 | -17.6 | — | -5.4 | -4.0 | -1.7 | -2.7 |
| Price to sales | 5.5 | 4.2 | 2.6 | 3.9 | 3.8 | 5.5 | 3.0 | 2.3 | 1.5 | 1.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Jun 2015.
| FY2015 | |
|---|---|
| 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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