H 
0.20
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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$221.2m
FY2016FY2025
Net income
−HK$31.3m
FY2016FY2025
Free cash flow
−HK$13.4m
FY2016FY2025
Shareholders' equity
HK$209.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$221.2m | HK$214.7m | HK$162.9m | HK$245.2m | HK$363.0m | HK$255.4m | HK$506.3m | HK$640.7m | HK$648.2m | HK$475.0m |
| Gross profit | HK$35.7m | HK$33.4m | HK$21.7m | HK$18.9m | HK$65.4m | HK$23.8m | HK$102.7m | HK$200.6m | HK$212.8m | HK$147.3m |
| Research and development | HK$7.3m | HK$7.5m | HK$8.1m | HK$9.3m | HK$10.6m | HK$367,000 | HK$368,000 | HK$551,000 | HK$1.1m | HK$1.4m |
| Operating income | −HK$30.1m | −HK$35.6m | −HK$45.6m | −HK$55.4m | −HK$20.9m | −HK$53.6m | HK$12.1m | HK$94.5m | HK$151.3m | HK$109.0m |
| Net income | −HK$31.3m | −HK$35.0m | −HK$37.8m | −HK$50.0m | −HK$11.9m | −HK$41.0m | HK$5.3m | HK$72.8m | HK$126.5m | HK$91.8m |
| Diluted earnings per share | -0.05 | -0.05 | -0.06 | -0.08 | -0.02 | -0.06 | 0.01 | 0.11 | 0.26 | 0.14 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$299.4m | HK$331.7m | HK$343.2m | HK$394.4m | HK$504.0m | HK$518.7m | HK$588.3m | HK$671.1m | HK$604.0m | HK$677.9m |
| Cash and short-term investments | HK$34.0m | HK$46.2m | HK$60.7m | HK$84.7m | HK$119.9m | HK$160.9m | HK$164.6m | HK$185.1m | HK$154.0m | HK$111.4m |
| Total liabilities | HK$89.9m | HK$91.0m | HK$67.5m | HK$80.9m | HK$140.6m | HK$143.3m | HK$166.8m | HK$242.1m | HK$313.6m | HK$223.2m |
| Debt | HK$38.9m | HK$38.4m | HK$32.4m | HK$40.4m | HK$52.9m | HK$74.2m | HK$73.7m | HK$113.8m | HK$83.0m | HK$38.8m |
| Shareholders' equity | HK$209.4m | HK$240.7m | HK$275.7m | HK$313.5m | HK$363.4m | HK$375.3m | HK$421.5m | HK$429.0m | HK$290.5m | HK$454.7m |
| Shares outstanding | 640m | 640m | 640m | 640m | 640m | 640m | 640m | 640m | 480m | 640m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$10.2m | −HK$9.7m | −HK$14.5m | HK$8.2m | −HK$6.0m | HK$15.2m | HK$71.7m | −HK$70.4m | HK$72.6m | HK$37.1m |
| Capital spending | −HK$3.2m | −HK$930,000 | −HK$3.5m | −HK$3.1m | −HK$8.1m | −HK$8.1m | −HK$41.9m | −HK$7.8m | −HK$26.3m | −HK$17.6m |
| Free cash flow | −HK$13.4m | −HK$10.6m | −HK$18.0m | HK$5.1m | −HK$14.1m | HK$7.1m | HK$29.8m | −HK$78.2m | HK$46.3m | HK$19.5m |
| Dividends paid | — | — | — | — | — | −HK$5.1m | −HK$12.8m | −HK$72.5m | −HK$12.8m | −HK$12.8m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$105.1m | HK$112.9m | HK$108.3m | HK$104.5m | HK$110.1m | HK$55.1m | HK$70.3m | HK$35.2m |
| Gross profit | HK$21.4m | HK$15.4m | HK$20.3m | HK$17.2m | HK$16.2m | HK$8.1m | HK$9.3m | HK$4.7m |
| Operating income | −HK$9.3m | −HK$17.7m | −HK$24.7m | −HK$16.6m | −HK$16.9m | −HK$8.5m | −HK$22.7m | −HK$11.0m |
| Net income | −HK$9.4m | −HK$20.9m | −HK$10.4m | −HK$17.8m | −HK$17.1m | −HK$8.6m | −HK$18.3m | −HK$9.2m |
| Diluted earnings per share | -0.01 | -0.03 | -0.02 | -0.03 | -0.03 | -0.01 | -0.03 | -0.01 |
| Cash from operations | — | −HK$4.0m | −HK$5.0m | −HK$10.0m | — | — | −HK$19.0m | −HK$9.0m |
| Capital spending | — | −HK$2.0m | — | — | — | — | −HK$2.0m | −HK$1.0m |
| Free cash flow | — | −HK$6.0m | — | — | — | — | −HK$21.0m | −HK$10.0m |
| Total assets | HK$294.0m | HK$299.4m | HK$317.1m | HK$331.7m | HK$341.2m | HK$341.2m | HK$343.2m | HK$343.2m |
| Cash and short-term investments | HK$35.7m | HK$34.0m | HK$43.0m | HK$46.2m | HK$57.9m | HK$57.9m | HK$60.7m | HK$60.7m |
| Debt | HK$30.4m | HK$38.9m | HK$41.6m | HK$38.4m | HK$29.5m | HK$29.5m | HK$32.4m | HK$32.4m |
| Shareholders' equity | HK$200.0m | HK$209.4m | HK$230.3m | HK$240.7m | HK$258.5m | HK$258.5m | HK$275.7m | HK$275.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -3.4% | -2.8% | -5.8% |
| Operating income | -18.4% | -10.9% | — |
| Net income | -14.4% | -5.3% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.9% | 13.0% | 13.6% | 23.4% |
| Operating margin | -15.1% | -19.8% | -16.5% | 5.0% |
| Net margin | -15.2% | -18.3% | -14.2% | 4.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.4 | -2.0 | -2.0 | -1.8 | -9.7 | -3.0 | 32.8 | 5.1 |
| Price to sales | 0.5 | 0.3 | 0.5 | 0.4 | 0.3 | 0.5 | 0.3 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 1 Jun 2020.
| FY2020 | FY2019 | |
|---|---|---|
| Paid in the year | 0.008 | 0.02 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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