3 
0.37
—
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$711.5m
FY2016FY2025
Net income
−HK$94.9m
FY2016FY2025
Free cash flow
−HK$409.8m
FY2016FY2025
Shareholders' equity
—
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$711.5m | HK$586.9m | HK$618.5m | HK$902.0m | HK$855.8m | HK$804.9m | HK$1.46bn | HK$1.46bn | HK$1.12bn | HK$1.16bn |
| Gross profit | HK$248.6m | HK$170.2m | HK$161.3m | HK$196.2m | HK$268.3m | HK$277.9m | HK$406.4m | HK$411.5m | HK$358.3m | HK$327.4m |
| Operating income | −HK$178.2m | −HK$131.4m | −HK$88.6m | −HK$84.2m | HK$14.3m | −HK$45.0m | −HK$46.2m | −HK$13.1m | −HK$56.0m | −HK$115.9m |
| Net income | −HK$94.9m | −HK$135.3m | −HK$89.7m | −HK$78.9m | −HK$15.1m | −HK$62.7m | −HK$181.4m | −HK$59.7m | −HK$143.7m | −HK$62.6m |
| Diluted earnings per share | -0.35 | -0.52 | -0.33 | -0.35 | -0.10 | -0.30 | -1.43 | -0.57 | -1.63 | -0.71 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | HK$1.11bn | HK$1.78bn | HK$1.79bn | HK$1.83bn | HK$1.86bn | HK$2.35bn | HK$2.27bn | HK$1.88bn | HK$1.73bn |
| Cash and short-term investments | — | HK$31.9m | HK$71.2m | HK$84.6m | HK$96.2m | HK$110.8m | HK$132.8m | HK$57.0m | HK$115.0m | HK$99.8m |
| Total liabilities | — | HK$1.43bn | HK$1.97bn | HK$1.87bn | HK$1.89bn | HK$1.98bn | HK$2.36bn | HK$2.08bn | HK$1.66bn | HK$1.33bn |
| Debt | — | HK$1.47bn | HK$1.92bn | HK$1.76bn | HK$1.71bn | HK$1.75bn | HK$2.07bn | HK$1.69bn | HK$1.38bn | HK$203.1m |
| Shareholders' equity | — | −HK$314.5m | −HK$191.7m | −HK$80.9m | −HK$66.8m | −HK$51.8m | −HK$6.1m | HK$139.8m | HK$155.1m | HK$313.0m |
| Shares outstanding | 270m | 270m | 270m | 224m | 155m | 208m | 127m | 104m | 88m | 88m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$379.2m | −HK$260.2m | — | — | — | HK$193.7m | −HK$48.6m | −HK$172.3m | −HK$59.3m | −HK$57.1m |
| Capital spending | −HK$30.6m | −HK$26.2m | — | — | — | −HK$8.6m | −HK$32.8m | −HK$26.9m | −HK$15.5m | −HK$28.2m |
| Free cash flow | −HK$409.8m | −HK$286.4m | — | — | — | HK$185.1m | −HK$81.4m | −HK$199.2m | −HK$74.8m | −HK$85.3m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$512.0m | HK$341.3m | HK$370.3m | HK$335.1m | HK$251.8m | HK$325.2m | HK$293.4m | HK$473.1m |
| Gross profit | HK$184.8m | HK$129.0m | HK$119.7m | HK$92.7m | HK$77.5m | HK$92.6m | HK$68.7m | HK$88.7m |
| Operating income | −HK$167.0m | −HK$73.4m | −HK$90.7m | −HK$97.6m | −HK$30.4m | −HK$29.5m | −HK$52.0m | −HK$49.1m |
| Net income | −HK$90.3m | −HK$44.9m | −HK$50.0m | −HK$81.1m | −HK$54.2m | −HK$41.7m | −HK$48.0m | −HK$40.9m |
| Diluted earnings per share | -0.33 | -0.17 | -0.19 | -0.30 | -0.20 | -0.15 | -0.18 | -0.15 |
| Total assets | — | — | HK$1.47bn | HK$1.11bn | HK$1.82bn | HK$1.78bn | HK$1.73bn | HK$1.79bn |
| Cash and short-term investments | — | — | HK$32.2m | HK$31.9m | HK$28.0m | HK$71.2m | HK$57.2m | HK$84.6m |
| Debt | — | — | HK$160.2m | HK$135.9m | HK$1.94bn | HK$1.82bn | HK$107.3m | HK$1.75bn |
| Shareholders' equity | — | — | −HK$382.0m | −HK$314.5m | −HK$238.4m | −HK$191.7m | −HK$138.5m | −HK$80.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -7.6% | -2.4% | -6.3% |
| Operating income | 28.4% | 31.7% | 4.7% |
| Net income | 6.3% | 8.6% | 0.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 32.3% | 27.5% | 29.5% | 29.2% |
| Operating margin | -23.9% | -17.1% | -11.5% | -7.8% |
| Net margin | -17.7% | -14.1% | -10.6% | -9.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.5 | -1.0 | -2.0 | -0.6 | -2.9 | -1.1 | -0.9 | -3.1 | -0.5 | -1.4 |
| Price to sales | 0.2 | 0.2 | 0.3 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 18 Nov 2011.
| FY2012 | FY2011 | FY2010 | FY2006 | FY2005 | FY2004 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.069 | 0.12 | 0.238 | 18.677 | 23.771 | 20.375 |
- 10-to-1 reverse split · 27 Jul 2021
- 4-to-1 reverse split · 18 Jul 2018
- 1.013-for-1 split · 23 Apr 2010
- 10-to-1 reverse split · 2 Oct 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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