H 
0.42
-11.70%
Close of 5 Nov 2026, in HKD
At a glance
Figures in HKD, from our data supplier.
Revenue
HK$428.0m
FY2016FY2025
Net income
−HK$205.1m
FY2016FY2025
Free cash flow
−HK$38.9m
FY2016FY2025
Shareholders' equity
HK$577.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$428.0m | HK$442.0m | HK$440.6m | HK$501.2m | HK$520.3m | HK$541.9m | HK$840.7m | HK$981.5m | HK$1.22bn | HK$1.37bn |
| Gross profit | HK$34.4m | HK$36.6m | HK$31.5m | HK$19.8m | HK$17.5m | HK$32.1m | HK$72.1m | HK$91.3m | HK$135.0m | HK$142.0m |
| Operating income | −HK$94.0m | −HK$78.1m | −HK$91.8m | −HK$185.2m | −HK$229.8m | −HK$317.4m | −HK$284.5m | −HK$152.7m | −HK$445.8m | −HK$268.1m |
| Net income | −HK$205.1m | −HK$196.4m | −HK$125.6m | −HK$216.1m | −HK$247.2m | −HK$318.3m | −HK$285.1m | −HK$153.5m | −HK$405.5m | −HK$248.7m |
| Diluted earnings per share | -1.16 | -1.74 | -1.20 | -2.16 | -2.64 | -0.17 | -0.15 | -0.08 | -0.30 | -0.33 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$658.5m | HK$869.6m | HK$1.07bn | HK$1.22bn | HK$1.41bn | HK$1.63bn | HK$1.98bn | HK$2.29bn | HK$2.62bn | HK$2.74bn |
| Cash and short-term investments | HK$58.2m | HK$86.2m | HK$126.7m | HK$253.8m | HK$235.5m | HK$530.7m | HK$470.7m | HK$801.0m | HK$846.9m | HK$448.0m |
| Total liabilities | HK$81.6m | HK$82.7m | HK$103.4m | HK$116.2m | HK$105.8m | HK$109.5m | HK$129.8m | HK$123.3m | HK$353.1m | HK$202.8m |
| Debt | HK$6.5m | HK$6.0m | HK$17.8m | HK$23.3m | HK$21.2m | HK$28.5m | HK$20.2m | HK$16.0m | HK$33.4m | HK$61.4m |
| Shareholders' equity | HK$577.0m | HK$786.9m | HK$970.1m | HK$1.11bn | HK$1.30bn | HK$1.52bn | HK$1.85bn | HK$2.16bn | HK$2.27bn | HK$2.53bn |
| Shares outstanding | 176m | 113m | 105m | 100m | 94m | 1,873m | 1,873m | 1,838m | 1,358m | 762m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$2.4m | −HK$22.3m | −HK$6.7m | −HK$1.6m | −HK$95.2m | HK$5.4m | −HK$155.7m | −HK$32.6m | HK$127.3m | HK$58.5m |
| Capital spending | −HK$36.5m | −HK$36.1m | −HK$38.2m | −HK$73.0m | −HK$34.5m | −HK$91.7m | −HK$186.1m | −HK$37.3m | −HK$62.7m | −HK$89.9m |
| Free cash flow | −HK$38.9m | −HK$58.4m | −HK$44.9m | −HK$74.5m | −HK$129.7m | −HK$86.4m | −HK$341.8m | −HK$69.8m | HK$64.6m | −HK$31.3m |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | Dec 2021 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$189.7m | HK$238.3m | HK$200.4m | HK$241.6m | HK$196.1m | HK$244.5m | HK$226.0m | HK$275.2m |
| Gross profit | HK$16.9m | HK$17.5m | HK$17.2m | HK$19.5m | HK$14.7m | HK$16.7m | HK$8.6m | HK$11.3m |
| Operating income | −HK$44.5m | −HK$32.8m | HK$79.6m | −HK$30.6m | −HK$44.2m | −HK$39.1m | −HK$134.7m | −HK$42.9m |
| Net income | −HK$166.8m | −HK$38.2m | −HK$153.6m | −HK$42.8m | −HK$71.2m | −HK$54.4m | −HK$152.7m | −HK$63.4m |
| Diluted earnings per share | -0.93 | -0.22 | -1.27 | -0.41 | -0.68 | -0.52 | -1.45 | -0.03 |
| Total assets | HK$658.5m | HK$842.0m | HK$869.6m | HK$1.02bn | HK$1.07bn | HK$1.16bn | HK$1.22bn | HK$1.38bn |
| Cash and short-term investments | HK$58.2m | HK$69.6m | HK$86.2m | HK$156.1m | HK$126.7m | HK$153.0m | HK$253.8m | HK$294.7m |
| Debt | HK$4.7m | HK$5.4m | HK$5.2m | HK$11.3m | HK$16.1m | HK$16.9m | HK$20.4m | HK$20.5m |
| Shareholders' equity | HK$577.0m | HK$752.5m | HK$786.9m | HK$928.2m | HK$970.1m | HK$1.05bn | HK$1.11bn | HK$1.27bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -5.1% | -4.6% | -12.6% |
| Operating income | -20.2% | -21.6% | -0.1% |
| Net income | -1.7% | -8.4% | 10.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.2% | 6.8% | 6.0% | 8.4% |
| Operating margin | -19.8% | -24.8% | -34.7% | -25.1% |
| Net margin | -46.2% | -41.0% | -45.5% | -27.7% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.3 | -0.1 | -0.3 | -0.5 | -1.3 | -8.9 | -23.6 | -65.9 | -46.2 | -14.9 |
| Price to sales | 0.1 | 0.0 | 0.1 | 0.2 | 0.6 | 5.3 | 8.0 | 10.3 | 15.3 | 2.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Dec 2010.
| FY2011 | FY2006 | FY2005 | FY2004 | FY2003 | |
|---|---|---|---|---|---|
| Paid in the year | 1.814 | 1.728 | 2.592 | 2.16 | 2.879 |
- 20-to-1 reverse split · 28 Dec 2023
- 10-to-1 reverse split · 30 Dec 2015
- 21-for-20 split · 8 Dec 2011
- 21-for-20 split · 21 Dec 2010
- 21-for-20 split · 16 Dec 2009
- 6-for-5 split · 19 Apr 2004
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.