T 
0.22
—
Close of 5 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$64.4m
FY2016FY2025
Net income
−HK$23.8m
FY2016FY2025
Free cash flow
−HK$3.4m
FY2016FY2025
Shareholders' equity
−HK$196.1m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$64.4m | HK$71.6m | HK$91.3m | HK$150.5m | HK$370.7m | HK$472.4m | HK$532.9m | HK$507.4m | HK$580.5m | HK$463.9m |
| Gross profit | HK$2.4m | HK$3.2m | HK$331,000 | −HK$113.9m | −HK$110.8m | −HK$17.5m | HK$19.9m | HK$90.1m | HK$110.2m | HK$103.2m |
| Research and development | — | — | HK$3.1m | HK$16.6m | HK$23.2m | HK$22.3m | HK$21.6m | HK$5.9m | HK$3.9m | HK$14.3m |
| Operating income | −HK$2.5m | −HK$4.8m | −HK$26.0m | −HK$225.6m | −HK$189.4m | −HK$92.7m | −HK$52.8m | HK$16.7m | HK$35.1m | HK$38.1m |
| Net income | −HK$23.8m | −HK$25.7m | −HK$37.8m | −HK$231.4m | −HK$197.0m | −HK$165.3m | −HK$68.1m | −HK$8.5m | HK$22.9m | HK$24.1m |
| Diluted earnings per share | -0.12 | -0.13 | -0.56 | -2.80 | -5.80 | -5.84 | -2.41 | -0.45 | 1.58 | 0.13 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$124.9m | HK$164.6m | HK$87.7m | HK$146.4m | HK$433.8m | HK$611.9m | HK$754.8m | HK$849.6m | HK$718.5m | HK$640.1m |
| Cash and short-term investments | HK$84.9m | HK$85.3m | HK$6.3m | HK$7.6m | HK$11.0m | HK$36.7m | HK$31.2m | HK$60.0m | HK$23.2m | HK$31.3m |
| Total liabilities | HK$321.0m | HK$336.0m | HK$320.9m | HK$349.8m | HK$476.9m | HK$467.9m | HK$455.7m | HK$468.1m | HK$451.0m | HK$398.2m |
| Debt | HK$9.6m | HK$261.1m | HK$73.3m | HK$213.7m | HK$305.1m | HK$284.9m | HK$296.1m | HK$341.3m | HK$250.2m | HK$192.8m |
| Shareholders' equity | −HK$196.1m | −HK$171.4m | −HK$233.2m | −HK$203.4m | −HK$43.0m | HK$144.0m | HK$299.1m | HK$381.5m | HK$267.5m | HK$242.0m |
| Shares outstanding | 204m | 204m | 68m | 83m | 34m | 28m | 28m | 19m | 14m | 190m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$3.4m | HK$1.0m | −HK$4.2m | −HK$29.7m | −HK$27.7m | HK$40.8m | HK$31.3m | −HK$115.8m | −HK$45.0m | −HK$152.9m |
| Capital spending | — | — | −HK$585,000 | −HK$1.2m | −HK$6.6m | −HK$7.3m | −HK$13.1m | −HK$12.3m | −HK$16.2m | −HK$5.7m |
| Free cash flow | −HK$3.4m | HK$1.0m | −HK$4.8m | −HK$30.9m | −HK$34.3m | HK$33.5m | HK$18.2m | −HK$128.1m | −HK$61.3m | −HK$158.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$30.5m | HK$14.2m | HK$50.2m | HK$50.4m | HK$21.2m | HK$44.4m | HK$46.8m | HK$68.6m |
| Gross profit | HK$4.3m | HK$150,000 | HK$2.3m | HK$9.6m | −HK$6.4m | HK$6.9m | −HK$6.6m | −HK$118.6m |
| Operating income | HK$2.3m | −HK$1.6m | −HK$908,000 | HK$7.1m | −HK$11.7m | HK$3.3m | −HK$27.1m | −HK$148.5m |
| Net income | −HK$9.7m | −HK$29.0m | HK$5.2m | −HK$2.0m | −HK$23.7m | HK$10.7m | −HK$48.5m | −HK$201.6m |
| Diluted earnings per share | -0.05 | -0.14 | 0.03 | -0.01 | -0.12 | 0.16 | -0.71 | -2.44 |
| Cash from operations | HK$2.0m | HK$1.0m | −HK$3.0m | −HK$4.0m | HK$6.0m | −HK$4.0m | — | −HK$44.0m |
| Capital spending | — | −HK$1.0m | — | — | — | — | −HK$1.0m | — |
| Free cash flow | — | HK$0 | — | — | — | — | — | — |
| Total assets | HK$122.0m | HK$124.9m | HK$158.5m | HK$164.6m | HK$145.7m | HK$87.7m | HK$103.8m | HK$146.4m |
| Cash and short-term investments | HK$90.4m | HK$84.9m | HK$81.4m | HK$85.3m | HK$88.8m | HK$6.3m | HK$4.0m | HK$10.7m |
| Debt | HK$3.4m | HK$9.6m | HK$10.2m | HK$261.1m | HK$17.4m | HK$10.1m | HK$23.3m | HK$29.7m |
| Shareholders' equity | −HK$208.4m | −HK$196.1m | −HK$176.0m | −HK$171.4m | −HK$170.9m | −HK$233.2m | −HK$238.2m | −HK$203.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -24.6% | -32.9% | -17.1% |
| Operating income | -77.6% | -51.4% | — |
| Net income | -53.1% | -32.1% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.1% | -28.6% | -19.3% | 4.7% |
| Operating margin | -5.4% | -68.5% | -44.3% | -12.5% |
| Net margin | -36.4% | -84.4% | -55.8% | -18.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.3 | -3.0 | -1.1 | -0.3 | -0.1 | -0.3 | -1.6 | -13.3 |
| Price to sales | 1.2 | 1.1 | 0.5 | 0.4 | 0.1 | 0.1 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 19 Mar 2024
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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