T 
1.43
-0.69%
Close of 9 Nov 2026, in HKD
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At a glance
Figures in HKD, from our data supplier.
Revenue
HK$2.39bn
FY2016FY2025
Net income
HK$218.0m
FY2016FY2025
Free cash flow
HK$255.9m
FY2016FY2025
Shareholders' equity
HK$1.81bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$2.39bn | HK$2.36bn | HK$1.95bn | HK$2.28bn | HK$2.40bn | HK$2.03bn | HK$2.31bn | HK$2.30bn | HK$1.86bn | HK$1.63bn |
| Gross profit | HK$588.8m | HK$625.8m | HK$512.8m | HK$503.8m | HK$527.6m | HK$504.4m | HK$640.4m | HK$724.4m | HK$627.0m | HK$456.5m |
| Research and development | — | — | — | — | — | HK$65.8m | HK$65.6m | HK$54.6m | HK$56.6m | HK$40.2m |
| Operating income | HK$240.4m | HK$313.6m | HK$234.7m | HK$247.8m | HK$305.9m | HK$234.9m | HK$362.5m | HK$403.1m | HK$356.0m | HK$211.3m |
| Net income | HK$218.0m | HK$261.9m | HK$204.2m | HK$226.9m | HK$282.4m | HK$209.7m | HK$301.8m | HK$350.2m | HK$301.8m | HK$205.7m |
| Diluted earnings per share | 0.26 | 0.32 | 0.25 | 0.27 | 0.34 | 0.25 | 0.36 | 0.42 | 0.36 | 0.25 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$2.78bn | HK$2.58bn | HK$2.45bn | HK$2.70bn | HK$2.85bn | HK$2.57bn | HK$2.34bn | HK$2.16bn | HK$1.64bn | HK$1.40bn |
| Cash and short-term investments | HK$1.17bn | HK$1.16bn | HK$1.16bn | HK$1.27bn | HK$1.03bn | HK$920.4m | HK$735.1m | HK$753.8m | HK$540.8m | HK$381.3m |
| Total liabilities | HK$974.4m | HK$865.5m | HK$766.4m | HK$1.09bn | HK$1.23bn | HK$1.18bn | HK$1.11bn | HK$1.09bn | HK$727.1m | HK$717.1m |
| Debt | HK$109.6m | HK$101.2m | HK$122.3m | HK$463.2m | HK$443.6m | HK$380.9m | HK$393.2m | HK$342.2m | HK$97.9m | HK$199.3m |
| Shareholders' equity | HK$1.81bn | HK$1.71bn | HK$1.69bn | HK$1.61bn | HK$1.62bn | HK$1.39bn | HK$1.19bn | HK$1.08bn | HK$911.5m | HK$685.0m |
| Shares outstanding | 834m | 828m | 827m | 829m | 830m | 833m | 833m | 833m | 833m | 827m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$391.2m | HK$374.1m | HK$445.3m | HK$361.2m | HK$352.2m | HK$496.9m | HK$412.1m | HK$491.4m | HK$400.1m | HK$245.0m |
| Capital spending | −HK$135.3m | −HK$85.5m | −HK$69.0m | −HK$144.1m | −HK$108.6m | −HK$78.5m | −HK$212.9m | −HK$262.7m | −HK$120.0m | −HK$98.9m |
| Free cash flow | HK$255.9m | HK$288.6m | HK$376.3m | HK$217.1m | HK$243.6m | HK$418.4m | HK$199.3m | HK$228.7m | HK$280.1m | HK$146.1m |
| Dividends paid | −HK$192.5m | −HK$179.2m | −HK$95.0m | −HK$95.0m | −HK$111.7m | −HK$91.7m | −HK$158.3m | −HK$150.0m | −HK$124.3m | −HK$90.9m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.16bn | HK$1.34bn | HK$1.05bn | HK$1.35bn | HK$1.01bn | HK$1.09bn | HK$855.9m | HK$1.31bn |
| Gross profit | HK$200.8m | HK$323.4m | HK$265.4m | HK$375.8m | HK$250.0m | HK$313.1m | HK$199.7m | HK$360.3m |
| Operating income | −HK$5.7m | HK$149.4m | HK$91.0m | HK$211.6m | HK$102.0m | HK$142.9m | HK$51.9m | HK$179.6m |
| Net income | HK$21.9m | HK$131.2m | HK$86.8m | HK$182.1m | HK$79.7m | HK$149.5m | HK$54.7m | HK$168.5m |
| Diluted earnings per share | 0.03 | 0.16 | 0.10 | 0.22 | 0.10 | 0.18 | 0.07 | 0.20 |
| Cash from operations | — | HK$250.0m | HK$135.0m | HK$227.0m | HK$145.0m | HK$270.0m | HK$166.0m | HK$273.0m |
| Capital spending | — | −HK$73.0m | −HK$58.0m | −HK$48.0m | −HK$37.0m | −HK$15.0m | −HK$49.0m | −HK$48.0m |
| Free cash flow | — | HK$177.0m | HK$77.0m | HK$179.0m | HK$108.0m | HK$255.0m | HK$117.0m | HK$225.0m |
| Total assets | HK$2.86bn | HK$2.78bn | HK$2.54bn | HK$2.58bn | HK$2.50bn | HK$2.45bn | HK$2.47bn | HK$2.71bn |
| Cash and short-term investments | HK$873.4m | HK$1.17bn | HK$1.07bn | HK$1.16bn | HK$1.06bn | HK$1.16bn | HK$1.11bn | HK$1.27bn |
| Debt | HK$96.4m | HK$109.6m | HK$72.5m | HK$101.2m | HK$111.7m | HK$122.3m | HK$250.0m | HK$463.2m |
| Shareholders' equity | HK$1.75bn | HK$1.81bn | HK$1.68bn | HK$1.71bn | HK$1.57bn | HK$1.69bn | HK$1.53bn | HK$1.61bn |
Financial ratios
Data as of 30 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Gross margin | 24.6% | 26.5% | 26.4% | 22.1% | 21.9% | 24.8% | — | — | — | — | — |
| Operating margin | 10.4% | 14.3% | 13.2% | 10.3% | 13.7% | 12.3% | — | — | — | — | — |
| Net margin | 9.1% | 11.1% | 10.5% | 10.0% | 11.7% | 10.3% | — | — | — | — | — |
| Return on equity | 12.1% | 15.3% | 12.1% | 14.1% | 17.4% | 15.0% | — | — | — | — | — |
| Return on assets | 7.8% | 10.2% | 8.3% | 8.4% | 9.9% | 8.2% | — | — | — | — | — |
| Free cash flow yield | 44.8% | 39.4% | 44.1% | 43.3% | 39.4% | 49.0% | — | — | — | — | — |
| Revenue growth | 1.5% | 21.2% | -14.6% | -5.2% | 18.2% | -12.0% | — | — | — | — | — |
| Earnings growth | -16.7% | 28.2% | -10.0% | -19.6% | 34.7% | -30.5% | — | — | — | — | — |
| Current ratio | 2.46x | 2.63x | 2.76x | 2.19x | 2.21x | 1.82x | — | — | — | — | — |
| Debt to equity | 0.05x | 0.04x | 0.06x | 0.26x | 0.26x | 0.20x | — | — | — | — | — |
| Equity ratio | 64.9% | 66.4% | 68.7% | 59.5% | 56.9% | 54.2% | — | — | — | — | — |
| Interest coverage | 67.41x | 74.89x | 20.63x | 23.40x | 51.81x | 25.01x | — | — | — | — | — |
| R&D as a share of sales | — | — | — | — | — | 3.2% | 2.8% | 2.4% | 3.0% | 2.5% | 2.4% |
| Buybacks as a share of market value | -0.7% | -0.1% | 0.2% | 0.2% | 0.4% | -0.1% | — | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 1.7% | 3.3% | 4.1% |
| Operating income | -1.0% | 0.5% | 1.3% |
| Net income | -1.3% | 0.8% | 1.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 25.6% | 24.9% | 24.3% | 26.5% |
| Operating margin | 11.7% | 11.5% | 11.8% | 13.5% |
| Net margin | 10.1% | 10.1% | 10.5% | 11.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 9.8 | 7.5 | 5.7 | 5.8 | 7.3 | 9.9 | 10.8 | 10.1 | 13.5 | 8.5 |
| Price to sales | 0.9 | 0.8 | 0.6 | 0.6 | 0.9 | 1.0 | 1.4 | 1.5 | 2.2 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 12 years. Last went ex-dividend on 26 May 2026.
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.162 | 0.143 | 0.18 | 0.114 | 0.114 | 0.134 | 0.11 | 0.19 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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