C 
0.37
+1.37%
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$124.9m
FY2016FY2025
Net income
−HK$10.1m
FY2016FY2025
Free cash flow
HK$10.4m
FY2016FY2025
Shareholders' equity
HK$18.6m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$124.9m | HK$110.0m | HK$86.7m | HK$122.5m | HK$117.5m | HK$305.0m | HK$558.1m | HK$431.8m | HK$245.0m | HK$152.0m |
| Gross profit | HK$9.6m | −HK$12.9m | −HK$21.5m | −HK$28.6m | −HK$63.5m | HK$3.8m | HK$70.2m | HK$52.9m | HK$27.9m | HK$16.0m |
| Operating income | −HK$14.3m | −HK$43.3m | −HK$54.9m | −HK$54.4m | −HK$82.4m | −HK$6.0m | HK$44.0m | HK$47.9m | HK$24.9m | HK$13.6m |
| Net income | −HK$10.1m | −HK$43.3m | −HK$51.6m | −HK$56.2m | −HK$83.2m | HK$7.4m | HK$35.8m | HK$40.3m | HK$21.3m | HK$11.4m |
| Diluted earnings per share | -0.03 | -0.14 | -0.17 | -0.18 | -0.32 | 0.03 | 0.15 | 0.02 | 0.04 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$62.8m | HK$42.3m | HK$71.8m | HK$123.9m | HK$191.2m | HK$253.5m | HK$261.9m | HK$161.1m | HK$82.0m | HK$47.5m |
| Cash and short-term investments | HK$31.1m | HK$10.5m | HK$18.6m | HK$14.0m | HK$9.6m | HK$5.9m | HK$24.7m | HK$18.1m | HK$13.1m | HK$613,000 |
| Total liabilities | HK$48.6m | HK$32.4m | HK$18.6m | HK$19.1m | HK$45.6m | HK$24.7m | HK$40.5m | HK$85.1m | HK$45.4m | HK$32.2m |
| Debt | HK$8.1m | HK$5.3m | HK$9.6m | HK$9.7m | HK$16.3m | HK$17.8m | HK$3.8m | HK$20.8m | — | HK$5.9m |
| Shareholders' equity | HK$18.6m | HK$9.8m | HK$53.2m | HK$104.8m | HK$145.6m | HK$228.8m | HK$221.4m | HK$76.0m | HK$36.5m | HK$15.3m |
| Shares outstanding | 375m | 312m | 312m | 312m | 260m | 260m | 244m | 2,600m | 588m | 588m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$12.6m | −HK$3.5m | −HK$197,000 | −HK$5.4m | HK$8.5m | −HK$27.7m | −HK$95.7m | −HK$1.1m | HK$19.2m | HK$725,000 |
| Capital spending | −HK$2.1m | — | — | −HK$7.8m | −HK$7.8m | −HK$7.8m | −HK$6.8m | −HK$807,000 | −HK$392,000 | −HK$392,000 |
| Free cash flow | HK$10.4m | −HK$3.5m | −HK$197,000 | −HK$13.2m | HK$752,000 | −HK$35.5m | −HK$102.5m | −HK$1.9m | HK$18.8m | HK$333,000 |
Latest quarters
By quarter end
| Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$29.9m | HK$29.9m | HK$32.5m | HK$32.5m | HK$35.8m | HK$35.8m | HK$19.2m | HK$19.2m |
| Gross profit | HK$879,000 | HK$879,000 | HK$4.1m | HK$4.1m | HK$408,000 | HK$408,000 | −HK$6.8m | −HK$6.8m |
| Operating income | −HK$7.3m | −HK$7.3m | HK$100,000 | HK$100,000 | −HK$9.0m | −HK$9.0m | −HK$12.7m | −HK$12.7m |
| Net income | −HK$5.1m | −HK$5.1m | HK$62,000 | HK$62,000 | −HK$8.9m | −HK$8.9m | −HK$12.7m | −HK$12.7m |
| Diluted earnings per share | -0.01 | -0.01 | 0.00 | 0.00 | -0.03 | -0.03 | -0.04 | -0.04 |
| Cash from operations | HK$7.0m | HK$7.0m | — | — | HK$5.0m | HK$5.0m | −HK$7.0m | −HK$7.0m |
| Capital spending | −HK$1.0m | −HK$1.0m | — | — | — | — | — | — |
| Free cash flow | HK$6.0m | HK$6.0m | — | — | — | — | — | — |
| Total assets | HK$62.8m | HK$62.8m | HK$56.5m | HK$56.5m | HK$42.3m | HK$42.3m | HK$47.1m | HK$47.1m |
| Cash and short-term investments | HK$31.1m | HK$31.1m | HK$23.1m | HK$23.1m | HK$10.5m | HK$10.5m | HK$435,000 | HK$435,000 |
| Debt | HK$10.1m | HK$5.0m | HK$14.4m | HK$14.4m | HK$5.3m | HK$5.3m | HK$5.8m | HK$5.8m |
| Shareholders' equity | HK$18.6m | HK$18.6m | HK$24.1m | HK$24.1m | HK$9.8m | HK$9.8m | HK$27.7m | HK$27.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 0.6% | -16.4% | — |
| Operating income | -35.9% | 19.1% | — |
| Net income | -43.6% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | -1.4% | -12.0% | -13.0% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|
| Price to earnings | -15.4 | -6.3 | -3.6 | -1.9 | -1.3 | 58.2 | 13.2 |
| Price to sales | 1.3 | 2.5 | 2.2 | 0.9 | 0.9 | 1.4 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 15 Aug 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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