C 
0.44
+3.57%
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$273.1m
FY2016FY2025
Net income
−HK$111.0m
FY2016FY2025
Free cash flow
HK$9.6m
FY2016FY2025
Shareholders' equity
HK$1.69bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$273.1m | HK$499.3m | HK$307.4m | HK$207.6m | HK$665.4m | HK$811.8m | HK$1.86bn | HK$1.28bn | HK$3.38bn | HK$7.97bn |
| Research and development | HK$16.7m | HK$42.3m | HK$49.7m | HK$167.7m | HK$161.5m | HK$210.0m | HK$114.4m | HK$113.7m | HK$415.3m | HK$552.8m |
| Operating income | −HK$5.5m | −HK$211.8m | −HK$226.0m | −HK$616.3m | −HK$511.3m | −HK$374.0m | HK$162.3m | −HK$572.8m | −HK$2.18bn | −HK$1.90bn |
| Net income | −HK$111.0m | −HK$252.2m | −HK$220.9m | −HK$625.5m | −HK$572.4m | −HK$338.3m | HK$112.3m | −HK$409.3m | −HK$2.67bn | −HK$4.38bn |
| Diluted earnings per share | -0.29 | -0.02 | -0.01 | -0.05 | -0.05 | -0.05 | 0.02 | -0.08 | -0.53 | -0.93 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$4.24bn | HK$4.42bn | HK$4.44bn | HK$4.27bn | HK$5.13bn | HK$4.32bn | HK$3.36bn | HK$3.12bn | HK$4.85bn | HK$9.85bn |
| Cash and short-term investments | HK$252.2m | HK$192.0m | HK$155.8m | HK$248.5m | HK$814.8m | HK$208.8m | HK$364.3m | HK$168.6m | HK$451.1m | HK$1.31bn |
| Total liabilities | HK$2.55bn | HK$2.62bn | HK$2.34bn | HK$2.04bn | HK$2.58bn | HK$3.00bn | HK$2.65bn | HK$2.70bn | HK$4.06bn | HK$6.32bn |
| Debt | HK$1.23bn | HK$1.20bn | HK$548.1m | HK$192.5m | HK$418.2m | HK$699.2m | HK$527.2m | HK$430.4m | HK$970.2m | HK$2.44bn |
| Shareholders' equity | HK$1.69bn | HK$1.80bn | HK$2.09bn | HK$2.24bn | HK$2.54bn | HK$1.32bn | HK$708.0m | HK$414.2m | HK$843.9m | HK$3.54bn |
| Shares outstanding | 379m | 16,381m | 16,381m | 13,691m | 10,895m | 6,569m | 5,503m | 5,033m | 5,033m | 4,732m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$23.3m | −HK$134.1m | −HK$51.5m | −HK$194.0m | −HK$512.7m | −HK$304.0m | −HK$137.5m | HK$227.9m | −HK$1.83bn | −HK$911.3m |
| Capital spending | −HK$13.8m | −HK$405.1m | −HK$689.2m | −HK$418.8m | −HK$253.2m | −HK$198.7m | −HK$198.9m | −HK$211.8m | −HK$115.9m | −HK$135.5m |
| Free cash flow | HK$9.6m | −HK$539.2m | −HK$740.7m | −HK$612.8m | −HK$766.0m | −HK$502.7m | −HK$336.4m | HK$16.1m | −HK$1.95bn | −HK$1.05bn |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$253.0m | HK$98.5m | HK$174.6m | HK$247.0m | HK$252.3m | HK$135.8m | HK$171.5m | HK$67.2m |
| Operating income | −HK$56.5m | HK$118.6m | −HK$124.0m | −HK$69.7m | −HK$101.9m | −HK$178.2m | −HK$14.2m | −HK$235.1m |
| Net income | −HK$56.7m | −HK$30.7m | −HK$80.3m | −HK$161.9m | −HK$90.2m | −HK$103.8m | −HK$117.1m | −HK$322.1m |
| Diluted earnings per share | -0.17 | -0.08 | -0.21 | -0.01 | -0.01 | -0.01 | -0.01 | -0.02 |
| Cash from operations | −HK$5.0m | −HK$31.0m | HK$8.0m | HK$71.0m | −HK$243.0m | −HK$7.0m | −HK$66.0m | −HK$163.0m |
| Capital spending | −HK$20.0m | −HK$10.0m | −HK$3.0m | −HK$227.0m | −HK$177.0m | −HK$505.0m | −HK$183.0m | −HK$150.0m |
| Free cash flow | −HK$25.0m | −HK$41.0m | HK$5.0m | −HK$156.0m | −HK$420.0m | −HK$512.0m | −HK$249.0m | −HK$313.0m |
| Total assets | HK$4.37bn | HK$4.24bn | HK$4.41bn | HK$4.42bn | HK$4.57bn | HK$4.44bn | HK$4.17bn | HK$4.27bn |
| Cash and short-term investments | HK$250.1m | HK$252.2m | HK$278.7m | HK$192.0m | HK$368.8m | HK$155.8m | HK$189.6m | HK$307.9m |
| Debt | HK$48.1m | HK$1.23bn | HK$1.23bn | HK$1.20bn | HK$1.15bn | HK$548.1m | HK$389.6m | HK$192.5m |
| Shareholders' equity | HK$1.68bn | HK$1.69bn | HK$1.77bn | HK$1.80bn | HK$1.96bn | HK$2.09bn | HK$2.07bn | HK$2.24bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 9.6% | -19.6% | -32.9% |
| Operating income | -79.3% | -57.1% | -34.1% |
| Net income | -43.8% | -20.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -28.1% | -82.3% | -70.3% | -21.3% |
| Net margin | -47.0% | -93.9% | -76.7% | -22.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.3 | -85.8 | -107.7 | -34.2 | -161.2 | -98.1 | 282.3 | -95.7 | -14.7 | -9.3 |
| Price to sales | 1.3 | 43.3 | 77.4 | 103.0 | 138.7 | 40.9 | 17.1 | 30.7 | 11.6 | 5.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 16 Sept 2014.
| FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2007 | FY2006 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.367 | 0.917 | 0.367 | 1.10 | 0.733 | 0.183 | 0.16 | 0.138 |
- 40-to-1 reverse split · 10 Jun 2025
- 2-for-1 split · 27 May 2014
- 2-for-1 split · 28 Sept 2007
- 2-for-1 split · 18 May 2007
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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