T 
0.35
—
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$735.4m
FY2016FY2025
Net income
−HK$205.0m
FY2016FY2025
Free cash flow
−HK$97.4m
FY2016FY2025
Shareholders' equity
−HK$2.24bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$735.4m | HK$747.0m | HK$784.4m | HK$830.1m | HK$889.4m | HK$868.0m | HK$916.1m | HK$944.1m | HK$960.5m | HK$1.03bn |
| Operating income | HK$110.5m | −HK$13.9m | HK$7.0m | HK$96.7m | HK$16.7m | −HK$987.9m | −HK$28.5m | −HK$85.2m | −HK$182.3m | −HK$180.1m |
| Net income | −HK$205.0m | −HK$256.0m | −HK$221.4m | HK$142.4m | −HK$114.1m | −HK$1.06bn | −HK$196.5m | −HK$158.6m | −HK$242.3m | −HK$276.6m |
| Diluted earnings per share | -0.05 | -0.06 | -0.06 | 0.04 | -0.03 | -0.27 | -0.05 | -0.04 | -0.06 | -0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$3.19bn | HK$2.80bn | HK$3.01bn | HK$3.20bn | HK$3.03bn | HK$3.03bn | HK$4.00bn | HK$3.57bn | HK$3.56bn | HK$3.18bn |
| Cash and short-term investments | HK$958.6m | HK$448.3m | HK$538.2m | HK$481.7m | HK$493.5m | HK$452.9m | HK$371.8m | HK$386.1m | HK$423.5m | HK$377.2m |
| Total liabilities | HK$5.13bn | HK$4.47bn | HK$4.30bn | HK$5.37bn | HK$4.04bn | HK$3.94bn | HK$3.82bn | HK$3.57bn | HK$3.48bn | HK$3.28bn |
| Debt | HK$56.8m | HK$3.93bn | HK$3.74bn | HK$3.55bn | HK$3.42bn | HK$3.32bn | HK$3.21bn | HK$2.92bn | HK$2.86bn | HK$2.67bn |
| Shareholders' equity | −HK$2.24bn | −HK$1.96bn | −HK$1.60bn | −HK$1.24bn | −HK$1.31bn | −HK$1.20bn | −HK$191.8m | −HK$343.7m | −HK$276.7m | −HK$414.6m |
| Shares outstanding | 3,959m | 3,959m | 3,955m | 3,955m | 3,955m | 3,959m | 3,955m | 3,915m | 3,893m | 3,893m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$7.4m | −HK$89.5m | −HK$60.3m | HK$57.4m | HK$172.5m | HK$140.3m | HK$80.3m | HK$60.6m | HK$25.2m | HK$1.4m |
| Capital spending | −HK$104.8m | −HK$139.0m | −HK$116.6m | −HK$121.3m | −HK$124.6m | −HK$131.2m | −HK$126.2m | −HK$125.5m | −HK$111.0m | −HK$116.0m |
| Free cash flow | −HK$97.4m | −HK$228.5m | −HK$176.9m | −HK$63.9m | HK$47.9m | HK$9.1m | −HK$45.9m | −HK$64.9m | −HK$85.8m | −HK$114.6m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$335.2m | HK$396.8m | HK$338.7m | HK$404.7m | HK$342.3m | HK$171.2m | HK$405.8m | HK$202.9m |
| Operating income | HK$29.1m | HK$63.0m | HK$47.5m | HK$60.3m | HK$39.7m | −HK$10.8m | HK$10.2m | HK$3.5m |
| Net income | −HK$11.5m | −HK$78.3m | −HK$98.7m | −HK$110.6m | −HK$145.4m | −HK$72.7m | −HK$126.9m | −HK$63.4m |
| Diluted earnings per share | -0.00 | -0.02 | -0.02 | -0.03 | -0.04 | -0.02 | -0.03 | -0.02 |
| Cash from operations | — | HK$45.0m | −HK$37.0m | −HK$27.0m | −HK$55.0m | — | −HK$28.0m | −HK$14.0m |
| Capital spending | — | −HK$54.0m | −HK$49.0m | −HK$57.0m | −HK$81.0m | — | −HK$63.0m | −HK$31.0m |
| Free cash flow | — | −HK$9.0m | −HK$86.0m | −HK$84.0m | −HK$136.0m | — | −HK$91.0m | −HK$45.0m |
| Total assets | HK$3.09bn | HK$3.19bn | HK$2.89bn | HK$2.80bn | HK$2.78bn | HK$2.78bn | HK$3.01bn | HK$3.01bn |
| Cash and short-term investments | HK$946.5m | HK$958.6m | HK$494.9m | HK$448.3m | HK$421.8m | HK$421.8m | HK$538.2m | HK$538.2m |
| Debt | HK$21.1m | HK$56.8m | HK$4.07bn | HK$3.96bn | HK$3.82bn | — | HK$3.76bn | — |
| Shareholders' equity | −HK$2.46bn | −HK$2.24bn | −HK$2.01bn | −HK$1.96bn | −HK$1.84bn | −HK$1.84bn | −HK$1.60bn | −HK$1.60bn |
Financial ratios
Data as of 2 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | 0.4% | -1.9% | -0.4% | 40.7% | 3.3% | -113.8% |
| Net margin | -27.9% | -34.3% | -28.2% | 17.2% | -12.8% | -122.6% |
| Return on equity | 9.2% | 13.1% | 13.9% | -11.5% | 8.7% | 88.7% |
| Return on assets | -6.4% | -9.1% | -7.4% | 4.4% | -3.8% | -35.2% |
| Free cash flow yield | 8.0% | 3.5% | 4.0% | 12.7% | 21.2% | 19.3% |
| Revenue growth | -1.5% | -4.8% | -5.5% | -6.7% | 2.5% | -5.3% |
| Earnings growth | -19.9% | 15.6% | -255.5% | -224.8% | -89.3% | 441.4% |
| Current ratio | 2.30x | 1.44x | 1.62x | 1.73x | 1.35x | 1.25x |
| Debt to equity | -0.01x | -1.98x | -2.30x | -2.77x | -2.61x | -2.73x |
| Equity ratio | -70.2% | -69.9% | -53.0% | -38.8% | -43.1% | -39.7% |
| Interest coverage | 0.02x | -0.06x | -0.02x | 3.90x | 0.49x | -12.19x |
| Buybacks as a share of market value | 0.0% | -0.1% | 0.0% | 0.0% | 0.1% | -0.1% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -4.0% | -3.3% | -5.3% |
| Operating income | 4.6% | — | — |
| Net income | — | -28.1% | -0.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 6.5% | 6.5% | -15.9% | -14.5% |
| Net margin | -31.1% | -17.4% | -35.4% | -28.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -7.9 | -7.7 | -11.6 | 18.1 | -31.9 | -2.6 | -25.4 | -47.1 | -34.1 | -24.8 |
| Price to sales | 2.2 | 2.6 | 3.3 | 3.1 | 4.1 | 3.1 | 5.4 | 7.9 | 8.6 | 6.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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