B 
0.14
-1.38%
Close of 6 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$82.5m
FY2016FY2025
Net income
−HK$34.5m
FY2016FY2025
Free cash flow
−HK$14.2m
FY2016FY2025
Shareholders' equity
−HK$91.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$82.5m | HK$120.0m | HK$220.8m | HK$263.6m | HK$321.6m | HK$261.8m | HK$346.7m | HK$348.3m | HK$305.5m | HK$254.5m |
| Gross profit | HK$13.1m | −HK$6.5m | HK$27.6m | HK$48.5m | HK$54.1m | HK$33.5m | HK$61.0m | HK$90.8m | HK$101.7m | HK$93.2m |
| Research and development | HK$3.5m | HK$5.1m | HK$9.5m | HK$10.0m | HK$13.5m | HK$13.0m | HK$11.3m | HK$12.1m | HK$6.6m | — |
| Operating income | −HK$41.3m | −HK$80.3m | −HK$28.7m | −HK$50.1m | −HK$43.0m | −HK$63.8m | −HK$54.1m | HK$38.4m | HK$56.1m | HK$57.5m |
| Net income | −HK$34.5m | −HK$127.9m | −HK$34.1m | −HK$57.6m | −HK$51.6m | −HK$58.8m | −HK$49.9m | HK$34.6m | HK$45.4m | HK$45.8m |
| Diluted earnings per share | -0.04 | -0.16 | -0.04 | -0.07 | -0.06 | -0.07 | -0.06 | 0.04 | 0.06 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$119.0m | HK$152.7m | HK$279.2m | HK$333.4m | HK$353.6m | HK$370.3m | HK$410.0m | HK$337.2m | HK$317.3m | HK$259.0m |
| Cash and short-term investments | HK$70.7m | HK$74.8m | HK$111.7m | HK$107.9m | HK$42.6m | HK$74.2m | HK$56.0m | HK$39.9m | HK$42.1m | HK$79.2m |
| Total liabilities | HK$210.7m | HK$211.8m | HK$212.4m | HK$231.8m | HK$211.3m | HK$183.7m | HK$185.2m | HK$59.7m | HK$67.5m | HK$64.4m |
| Debt | HK$170.8m | HK$163.7m | HK$138.8m | HK$147.4m | HK$84.9m | HK$110.0m | HK$39.6m | HK$1.1m | — | — |
| Shareholders' equity | −HK$91.7m | −HK$59.1m | HK$66.8m | HK$101.6m | HK$142.3m | HK$186.6m | HK$224.9m | HK$277.5m | HK$249.8m | HK$194.6m |
| Shares outstanding | 800m | 800m | 800m | 800m | 800m | 800m | 800m | 800m | 800m | 800m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$14.1m | −HK$39.0m | HK$32.2m | −HK$106.1m | −HK$535,000 | −HK$4.9m | HK$18.3m | HK$39.0m | HK$24.4m | HK$39.7m |
| Capital spending | −HK$96,000 | −HK$525,000 | −HK$5.0m | −HK$7.8m | −HK$4.4m | −HK$13.8m | −HK$49.2m | −HK$51.3m | −HK$60.8m | −HK$32.9m |
| Free cash flow | −HK$14.2m | −HK$39.5m | HK$27.2m | −HK$113.9m | −HK$5.0m | −HK$18.7m | −HK$30.9m | −HK$12.3m | −HK$36.4m | HK$6.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$7.5m | HK$3.8m | HK$15.1m | HK$15.1m | HK$26.1m | HK$26.1m | HK$18.5m | HK$18.5m |
| Gross profit | HK$3.3m | HK$1.7m | HK$2.0m | HK$2.0m | HK$4.5m | HK$4.5m | −HK$8.7m | −HK$8.7m |
| Operating income | −HK$14.5m | −HK$7.3m | −HK$8.7m | −HK$8.7m | −HK$11.9m | −HK$11.9m | −HK$30.3m | −HK$30.3m |
| Net income | HK$18.0m | HK$9.0m | −HK$17.3m | −HK$8.6m | −HK$8.6m | −HK$8.6m | −HK$64.3m | −HK$64.3m |
| Diluted earnings per share | 0.02 | 0.01 | -0.02 | -0.01 | -0.01 | -0.01 | -0.08 | -0.08 |
| Cash from operations | HK$6.0m | HK$3.0m | −HK$5.0m | HK$2.0m | −HK$8.0m | −HK$5.0m | −HK$8.0m | −HK$7.0m |
| Capital spending | — | — | −HK$5.0m | — | −HK$8.0m | — | — | — |
| Free cash flow | — | — | −HK$10.0m | — | −HK$16.0m | — | — | — |
| Total assets | HK$141.5m | HK$141.5m | HK$119.0m | HK$119.0m | HK$135.3m | HK$135.3m | HK$152.7m | HK$152.7m |
| Cash and short-term investments | HK$89.3m | HK$89.3m | HK$70.7m | HK$73.8m | HK$76.6m | HK$79.4m | HK$74.8m | HK$76.4m |
| Debt | HK$38.0m | HK$38.0m | HK$47.0m | HK$46.4m | HK$63.7m | HK$63.4m | HK$163.7m | HK$163.0m |
| Shareholders' equity | −HK$63.4m | HK$59.2m | −HK$91.7m | HK$32.1m | HK$27.9m | HK$27.9m | −HK$59.1m | −HK$59.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -32.1% | -20.6% | -9.1% |
| Operating income | -6.2% | -8.3% | — |
| Net income | -15.7% | -10.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 3.3% | 12.1% | 13.4% | 21.9% |
| Operating margin | -60.0% | -29.2% | -24.2% | -6.3% |
| Net margin | -80.2% | -37.0% | -28.7% | -9.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.9 | -1.4 | -1.3 | -1.1 | -1.6 | -2.3 | -3.7 | 12.9 | 8.7 | 7.2 |
| Price to sales | 2.0 | 1.5 | 0.2 | 0.3 | 0.3 | 0.5 | 0.5 | 1.3 | 1.3 | 1.3 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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