M 
10.17
+1.60%
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$34.79bn
FY2016FY2025
Net income
HK$5.07bn
FY2016FY2025
Free cash flow
HK$7.17bn
FY2016FY2025
Shareholders' equity
HK$3.25bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$34.79bn | HK$31.39bn | HK$24.68bn | HK$5.27bn | HK$9.41bn | HK$5.10bn | HK$22.77bn | HK$19.20bn | HK$15.36bn | HK$14.91bn |
| Operating income | HK$6.71bn | HK$6.21bn | HK$4.55bn | −HK$3.55bn | −HK$2.44bn | −HK$4.07bn | HK$2.96bn | HK$2.08bn | HK$2.63bn | HK$3.10bn |
| Net income | HK$5.07bn | HK$4.60bn | HK$2.64bn | −HK$5.23bn | −HK$3.85bn | −HK$5.20bn | HK$1.93bn | HK$1.07bn | HK$2.32bn | HK$3.04bn |
| Diluted earnings per share | 1.33 | 1.21 | 0.69 | -1.38 | -1.01 | -1.37 | 0.51 | 0.28 | 0.61 | 0.80 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$29.67bn | HK$30.60bn | HK$29.18bn | HK$31.21bn | HK$28.44bn | HK$29.67bn | HK$32.51bn | HK$35.13bn | HK$36.61bn | HK$27.08bn |
| Cash and short-term investments | HK$4.40bn | HK$5.32bn | HK$4.23bn | HK$6.71bn | HK$3.11bn | HK$2.64bn | HK$3.27bn | HK$3.99bn | HK$5.28bn | HK$3.55bn |
| Total liabilities | HK$26.43bn | HK$30.08bn | HK$30.51bn | HK$35.21bn | HK$27.24bn | HK$24.65bn | HK$22.05bn | HK$26.19bn | HK$28.09bn | HK$19.86bn |
| Debt | HK$20.64bn | HK$23.15bn | HK$24.30bn | HK$32.92bn | HK$24.15bn | HK$21.37bn | HK$16.84bn | HK$18.87bn | HK$17.84bn | HK$14.82bn |
| Shareholders' equity | HK$3.25bn | HK$527.5m | −HK$1.33bn | −HK$4.00bn | HK$1.20bn | HK$5.02bn | HK$10.46bn | HK$8.95bn | HK$8.51bn | HK$7.22bn |
| Shares outstanding | 3,823m | 3,811m | 3,813m | 3,800m | 3,800m | 3,800m | 3,801m | 3,803m | 3,812m | 3,800m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$8.74bn | HK$8.27bn | HK$8.27bn | −HK$2.11bn | −HK$449.6m | −HK$2.97bn | HK$4.33bn | HK$2.16bn | HK$7.16bn | HK$2.76bn |
| Capital spending | −HK$1.57bn | −HK$1.20bn | −HK$354.6m | −HK$291.5m | −HK$527.7m | −HK$838.8m | −HK$1.34bn | −HK$2.90bn | −HK$6.77bn | −HK$6.25bn |
| Free cash flow | HK$7.17bn | HK$7.07bn | HK$7.91bn | −HK$2.41bn | −HK$977.3m | −HK$3.81bn | HK$3.00bn | −HK$737.6m | HK$384.8m | −HK$3.49bn |
| Dividends paid | −HK$2.15bn | −HK$2.66bn | — | — | — | −HK$315.4m | −HK$486.4m | −HK$611.8m | −HK$1.05bn | −HK$805.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$9.59bn | HK$18.13bn | HK$16.66bn | HK$15.17bn | HK$16.22bn | HK$8.11bn | HK$7.88bn | HK$7.02bn |
| Operating income | HK$2.74bn | HK$3.33bn | HK$3.38bn | HK$2.66bn | HK$3.52bn | HK$1.76bn | HK$2.69bn | HK$1.34bn |
| Net income | HK$1.90bn | HK$2.69bn | HK$2.38bn | HK$1.92bn | HK$2.69bn | HK$1.34bn | HK$1.82bn | HK$908.7m |
| Diluted earnings per share | 0.50 | 0.70 | 0.62 | 0.50 | 0.70 | 0.35 | 0.48 | 0.24 |
| Cash from operations | — | HK$3.61bn | HK$3.69bn | HK$3.27bn | HK$4.26bn | HK$2.13bn | HK$3.75bn | HK$2.29bn |
| Capital spending | — | −HK$683.0m | −HK$882.0m | −HK$882.0m | −HK$317.0m | — | −HK$140.0m | −HK$100.0m |
| Free cash flow | — | HK$2.93bn | HK$2.81bn | HK$2.39bn | HK$3.94bn | — | HK$3.62bn | HK$2.19bn |
| Total assets | HK$28.87bn | HK$29.67bn | HK$30.86bn | HK$30.60bn | HK$30.03bn | HK$30.03bn | HK$29.18bn | HK$29.18bn |
| Cash and short-term investments | HK$4.03bn | HK$4.40bn | HK$5.52bn | HK$5.32bn | HK$5.21bn | HK$5.21bn | HK$4.23bn | HK$4.23bn |
| Debt | HK$5.91bn | HK$20.64bn | HK$21.82bn | HK$23.15bn | HK$23.98bn | HK$3.89bn | HK$24.30bn | HK$5.85bn |
| Shareholders' equity | HK$3.82bn | HK$3.25bn | HK$1.97bn | HK$527.5m | −HK$52.2m | −HK$52.2m | −HK$1.33bn | −HK$1.33bn |
Financial ratios
Data as of 18 Sept 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 19.3% | 19.8% | 18.4% | -67.4% | -26.0% | -79.9% |
| Net margin | 14.6% | 14.7% | 10.7% | -99.3% | -40.9% | -102.1% |
| Return on equity | 156.3% | 872.6% | -198.8% | 130.9% | -321.4% | -103.7% |
| Return on assets | 17.1% | 15.0% | 9.0% | -16.8% | -13.5% | -17.5% |
| Free cash flow yield | 28.3% | 26.0% | 23.7% | -5.0% | 0.2% | -5.9% |
| Revenue growth | 10.8% | 27.2% | 368.5% | -44.0% | 84.7% | -77.6% |
| Earnings growth | 10.2% | 74.5% | -150.4% | 36.0% | -26.0% | -369.3% |
| Current ratio | 0.54x | 0.72x | 0.50x | 3.14x | 1.18x | 0.97x |
| Debt to equity | 5.86x | 43.55x | -18.18x | -8.19x | 20.02x | 4.22x |
| Equity ratio | 10.9% | 1.7% | -4.5% | -12.8% | 4.2% | 16.9% |
| Interest coverage | 4.40x | 3.75x | 2.38x | -2.13x | -1.77x | -3.64x |
| Buybacks as a share of market value | -0.3% | 0.1% | -0.3% | 0.0% | 0.0% | 0.0% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 87.6% | 46.8% | 7.3% |
| Operating income | — | — | 7.4% |
| Net income | — | — | 5.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 19.5% | 14.5% | 6.7% | 10.7% |
| Net margin | 14.6% | 7.4% | -1.8% | 4.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.9 | 8.2 | 14.3 | -6.3 | -4.7 | -9.7 | 25.0 | 46.8 | 38.9 | 20.1 |
| Price to sales | 1.4 | 1.2 | 1.5 | 6.2 | 1.9 | 9.9 | 2.1 | 2.6 | 5.9 | 4.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 2 years. Last went ex-dividend on 20 Aug 2026.
| FY2026 | FY2025 | FY2024 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.603 | 0.564 | 0.78 | 0.083 | 0.128 | 0.161 | 0.276 | 0.212 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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