M 
0.05
-3.85%
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$43.9m
FY2017FY2026
Net income
−HK$258.3m
FY2017FY2026
Free cash flow
−HK$40.3m
FY2017FY2026
Shareholders' equity
HK$431.6m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$43.9m | HK$73.7m | HK$144.9m | HK$198.9m | HK$169.4m | HK$337.9m | HK$238.5m | HK$105.1m | HK$463.3m | HK$2.14bn |
| Operating income | −HK$249.1m | −HK$83.5m | −HK$87.6m | −HK$35.8m | −HK$18.7m | −HK$21.2m | HK$29.5m | −HK$30.8m | −HK$25.3m | −HK$10.8m |
| Net income | −HK$258.3m | −HK$89.0m | −HK$87.4m | −HK$41.7m | −HK$26.8m | −HK$23.2m | −HK$19.5m | −HK$32.2m | −HK$48.4m | −HK$17.7m |
| Diluted earnings per share | -0.06 | -0.02 | -0.02 | -0.01 | -0.01 | -0.01 | -0.00 | -0.01 | -0.01 | -0.00 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$479.9m | HK$677.4m | HK$767.6m | HK$916.1m | HK$1.02bn | HK$1.07bn | HK$1.04bn | HK$806.5m | HK$1.01bn | HK$1.15bn |
| Cash and short-term investments | HK$75.8m | HK$82.8m | HK$142.0m | HK$147.8m | HK$227.2m | HK$263.6m | HK$200.5m | HK$210.9m | HK$232.7m | HK$162.8m |
| Total liabilities | HK$48.3m | HK$37.8m | HK$43.8m | HK$83.0m | HK$94.3m | HK$143.8m | HK$148.9m | HK$58.2m | HK$138.7m | HK$308.7m |
| Debt | HK$11.7m | HK$1.7m | HK$10.7m | HK$20.9m | HK$13.2m | HK$11.1m | HK$35.2m | HK$4.6m | HK$78.7m | HK$19.7m |
| Shareholders' equity | HK$431.6m | HK$639.6m | HK$723.8m | HK$845.9m | HK$938.1m | HK$936.9m | HK$906.9m | HK$759.5m | HK$855.2m | HK$827.8m |
| Shares outstanding | 4,419m | 4,121m | 4,121m | 4,121m | 4,121m | 4,121m | 4,121m | 3,681m | 3,681m | 3,681m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$38.7m | −HK$57.9m | HK$506,000 | −HK$57.2m | −HK$35.3m | HK$34.2m | HK$60.4m | −HK$90.4m | HK$35.8m | −HK$208.3m |
| Capital spending | −HK$1.5m | −HK$3.8m | −HK$1.1m | −HK$148,000 | −HK$944,000 | −HK$3.1m | −HK$1.3m | −HK$362,000 | −HK$4.8m | −HK$6.3m |
| Free cash flow | −HK$40.3m | −HK$61.7m | −HK$590,000 | −HK$57.4m | −HK$36.2m | HK$31.2m | HK$59.1m | −HK$90.8m | HK$31.0m | −HK$214.6m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$13.9m | HK$30.0m | HK$38.1m | HK$35.6m | HK$57.0m | HK$88.0m | HK$60.6m | HK$138.4m |
| Operating income | −HK$222.4m | −HK$26.7m | −HK$63.3m | −HK$29.9m | −HK$91.0m | −HK$29.0m | −HK$20.1m | −HK$25.2m |
| Net income | −HK$234.7m | −HK$23.6m | −HK$58.3m | −HK$30.7m | −HK$91.8m | HK$4.4m | −HK$26.1m | −HK$15.6m |
| Diluted earnings per share | -0.05 | -0.01 | -0.01 | -0.01 | -0.02 | 0.00 | -0.01 | -0.00 |
| Cash from operations | −HK$25.0m | −HK$14.0m | −HK$33.0m | −HK$23.0m | HK$2.0m | −HK$2.0m | −HK$1.0m | −HK$55.0m |
| Capital spending | — | −HK$1.0m | −HK$33.0m | −HK$23.0m | −HK$1.0m | — | — | — |
| Free cash flow | — | −HK$15.0m | −HK$66.0m | −HK$46.0m | HK$1.0m | — | — | — |
| Total assets | HK$479.9m | HK$661.6m | HK$677.4m | HK$771.7m | HK$767.6m | HK$893.4m | HK$916.1m | HK$932.4m |
| Cash and short-term investments | HK$75.8m | HK$66.8m | HK$82.8m | HK$111.2m | HK$142.0m | HK$169.3m | HK$147.8m | HK$157.8m |
| Debt | HK$5.8m | HK$14.2m | HK$1.7m | HK$5.4m | HK$10.7m | HK$10.4m | HK$20.9m | HK$25.8m |
| Shareholders' equity | HK$431.6m | HK$615.9m | HK$639.6m | HK$713.5m | HK$723.8m | HK$810.6m | HK$845.9m | HK$849.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -39.6% | -33.5% | -29.1% |
| Operating income | 90.9% | 63.7% | 32.3% |
| Net income | 83.6% | 62.0% | 30.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -282.8% | -98.8% | -51.2% | -10.4% |
| Net margin | -295.3% | -103.2% | -54.3% | -12.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.9 | -5.7 | -21.7 | -53.5 | -68.0 | -97.4 | -115.9 | -33.3 | -31.0 | -90.9 |
| Price to sales | 5.2 | 6.8 | 13.1 | 11.2 | 10.8 | 6.7 | 9.5 | 10.2 | 3.2 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Mar 2011.
| FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|
| Paid in the year | 0.012 | 0.01 | 0.013 | 0.02 |
- 5-for-1 split · 6 Sept 2016
- 10-to-1 reverse split · 7 Jan 2015
- 5-to-1 reverse split · 17 Sept 2012
- 10-for-1 split · 11 Dec 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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