A 
0.43
-4.44%
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$99.3m
FY2016FY2025
Net income
−HK$64.3m
FY2016FY2025
Free cash flow
−HK$98.5m
FY2016FY2025
Shareholders' equity
−HK$64.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$99.3m | HK$148.4m | HK$89.3m | HK$542.4m | HK$1.28bn | HK$961.2m | HK$1.55bn | HK$2.08bn | HK$2.10bn | HK$2.88bn |
| Gross profit | HK$5.1m | HK$8.9m | −HK$11.0m | −HK$111.8m | −HK$62.3m | −HK$174.9m | −HK$249.5m | HK$98.6m | HK$237.9m | HK$498.5m |
| Research and development | — | HK$115,000 | HK$18.9m | HK$63.9m | HK$79.5m | — | — | — | — | — |
| Operating income | −HK$56.8m | −HK$57.9m | −HK$88.9m | −HK$330.2m | −HK$353.5m | −HK$423.8m | −HK$539.8m | −HK$73.6m | HK$67.2m | HK$299.4m |
| Net income | −HK$64.3m | HK$600.7m | −HK$510.2m | −HK$594.6m | −HK$360.5m | −HK$599.4m | −HK$563.1m | −HK$85.8m | HK$73.9m | HK$506.0m |
| Diluted earnings per share | -2.97 | 46.31 | -7,530.13 | -9,232.53 | -111.93 | -18.61 | -212.90 | -33.20 | 28.58 | 195.72 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$179.5m | HK$182.4m | HK$283.3m | HK$833.8m | HK$1.36bn | HK$1.22bn | HK$1.73bn | HK$2.08bn | HK$2.38bn | HK$2.97bn |
| Cash and short-term investments | HK$10.1m | HK$23.9m | HK$2.4m | HK$10.2m | HK$98.1m | HK$104.5m | HK$277.5m | HK$279.5m | HK$787.2m | HK$1.59bn |
| Total liabilities | HK$243.5m | HK$255.0m | HK$1.07bn | HK$1.11bn | HK$1.03bn | HK$534.5m | HK$396.8m | HK$351.6m | HK$531.2m | HK$986.0m |
| Debt | HK$97.6m | HK$85.6m | HK$156.3m | HK$751.0m | HK$621.4m | HK$396.8m | HK$183.9m | HK$133.7m | HK$174.6m | HK$232.8m |
| Shareholders' equity | −HK$64.0m | −HK$72.6m | −HK$788.6m | −HK$272.3m | HK$330.8m | HK$681.6m | HK$1.33bn | HK$1.73bn | HK$1.85bn | HK$1.99bn |
| Shares outstanding | 22m | 13m | 0m | 0m | 3m | 32m | 3m | 3m | 3m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$96.6m | −HK$69.5m | −HK$157,000 | −HK$139.0m | −HK$234.8m | −HK$242.5m | −HK$201.5m | −HK$215.7m | −HK$136.2m | HK$143.3m |
| Capital spending | −HK$1.9m | — | −HK$981,000 | −HK$30.5m | −HK$31.0m | −HK$39.6m | −HK$48.0m | −HK$216.1m | −HK$53.2m | −HK$70.1m |
| Free cash flow | −HK$98.5m | −HK$69.5m | −HK$1.1m | −HK$169.5m | −HK$265.8m | −HK$282.1m | −HK$249.5m | −HK$431.8m | −HK$189.4m | HK$73.2m |
| Dividends paid | — | — | — | — | — | — | −HK$11.6m | −HK$46.3m | −HK$550.4m | −HK$92.7m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$61.9m | HK$49.6m | HK$49.7m | HK$62.7m | HK$85.7m | HK$37.3m | HK$52.0m | HK$189.1m |
| Gross profit | HK$6.3m | HK$509,000 | HK$4.6m | HK$4.3m | HK$4.5m | −HK$9.6m | −HK$1.3m | −HK$122.1m |
| Operating income | −HK$16.9m | −HK$32.1m | −HK$24.6m | −HK$17.7m | −HK$40.2m | −HK$36.1m | −HK$44.2m | −HK$193.8m |
| Net income | −HK$19.4m | −HK$40.0m | −HK$24.3m | HK$25.3m | HK$575.4m | −HK$44.6m | −HK$465.7m | −HK$422.7m |
| Diluted earnings per share | -0.80 | -1.73 | -1.20 | 1.45 | 67.45 | -657.48 | -144.34 | -6,563.92 |
| Total assets | HK$169.9m | HK$179.5m | HK$178.4m | HK$182.4m | HK$268.6m | HK$283.3m | HK$301.1m | HK$833.8m |
| Cash and short-term investments | HK$16.2m | HK$10.1m | HK$9.1m | HK$23.9m | HK$33.3m | HK$2.4m | HK$9.9m | HK$10.2m |
| Debt | HK$68.1m | HK$50.1m | HK$47.5m | HK$47.5m | HK$157.9m | HK$69.8m | — | HK$1.7m |
| Shareholders' equity | −HK$83.5m | −HK$64.0m | −HK$78.8m | −HK$72.6m | −HK$135.9m | −HK$788.6m | −HK$738.6m | −HK$272.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -43.2% | -36.5% | -27.8% |
| Operating income | -44.4% | -33.1% | — |
| Net income | -52.4% | -36.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.6% | -12.4% | -11.1% | 3.7% |
| Operating margin | -46.3% | -60.7% | -42.0% | -10.2% |
| Net margin | 216.5% | -64.6% | -49.0% | -10.4% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.2 | 0.0 | -0.0 | -0.0 | -0.0 | -0.1 | 0.2 | 0.1 | 0.2 | -0.8 |
| Price to sales | 0.1 | 0.0 | — | 0.0 | — | — | 0.0 | 0.0 | 0.0 | 0.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 27 Aug 2018.
| FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 10.00 | 40.00 | 175.00 | 380.00 | 35.00 | 45.00 | 30.00 | 115.00 |
- 10-to-1 reverse split · 29 Sept 2025
- 50-to-1 reverse split · 10 May 2023
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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