H 
0.13
+1.54%
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$116.1m
FY2016FY2025
Net income
−HK$138.1m
FY2016FY2025
Free cash flow
HK$62.2m
FY2016FY2025
Shareholders' equity
HK$583.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$116.1m | HK$213.3m | HK$504.7m | HK$858.5m | HK$1.18bn | HK$1.05bn | HK$362.3m | HK$218.0m | HK$425.6m | HK$488.2m |
| Operating income | −HK$50.3m | −HK$92.7m | −HK$282.7m | −HK$31.4m | −HK$2.3m | −HK$24.2m | −HK$91.4m | −HK$37.8m | HK$4.3m | −HK$22.7m |
| Net income | −HK$138.1m | −HK$131.1m | −HK$333.8m | −HK$6.3m | −HK$42.6m | −HK$42.9m | −HK$106.1m | −HK$75.5m | HK$24.5m | −HK$10.5m |
| Diluted earnings per share | -0.06 | -0.07 | -0.20 | -0.00 | -0.03 | -0.04 | -0.09 | -0.08 | 0.03 | -0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.54bn | HK$1.72bn | HK$1.89bn | HK$2.34bn | HK$2.07bn | HK$2.10bn | HK$1.19bn | HK$1.29bn | HK$1.18bn | HK$1.06bn |
| Cash and short-term investments | HK$46.1m | HK$34.2m | HK$50.1m | HK$46.0m | HK$50.3m | HK$58.1m | HK$98.7m | HK$277.8m | HK$189.7m | HK$285.5m |
| Total liabilities | HK$952.1m | HK$1.00bn | HK$1.05bn | HK$1.13bn | HK$972.7m | HK$1.01bn | HK$75.1m | HK$53.0m | HK$76.5m | HK$31.0m |
| Debt | HK$304.1m | HK$344.4m | HK$332.7m | HK$381.9m | HK$281.6m | HK$253.6m | HK$29.3m | — | — | — |
| Shareholders' equity | HK$583.9m | HK$719.1m | HK$841.3m | HK$1.21bn | HK$1.10bn | HK$1.10bn | HK$1.12bn | HK$1.24bn | HK$1.10bn | HK$1.03bn |
| Shares outstanding | 2,092m | 1,900m | 1,696m | 1,582m | 1,297m | 1,166m | 1,166m | 964m | 833m | 813m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$71.4m | −HK$60,000 | −HK$16.3m | −HK$40.7m | −HK$23.3m | −HK$20.6m | −HK$14.1m | −HK$77.4m | HK$85.7m | −HK$285.7m |
| Capital spending | −HK$9.3m | −HK$7.6m | −HK$6.4m | −HK$13.9m | −HK$41.7m | −HK$39.2m | −HK$112,000 | −HK$178,000 | −HK$1.3m | −HK$3.0m |
| Free cash flow | HK$62.2m | −HK$7.6m | −HK$22.7m | −HK$54.6m | −HK$65.0m | −HK$59.7m | −HK$14.2m | −HK$77.6m | HK$84.4m | −HK$288.7m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$32.4m | HK$51.9m | HK$54.2m | HK$107.8m | HK$106.7m | HK$53.3m | HK$220.7m | HK$110.3m |
| Operating income | −HK$54.7m | −HK$28.2m | −HK$18.4m | −HK$63.7m | −HK$24.4m | −HK$20.7m | −HK$264.2m | −HK$143.3m |
| Net income | −HK$58.8m | −HK$105.4m | −HK$32.7m | −HK$89.1m | −HK$40.8m | −HK$21.2m | −HK$296.5m | −HK$147.3m |
| Diluted earnings per share | -0.03 | -0.05 | -0.01 | -0.04 | -0.02 | -0.01 | -0.17 | -0.10 |
| Cash from operations | −HK$32.0m | HK$71.0m | — | −HK$2.0m | HK$2.0m | — | HK$22.0m | — |
| Capital spending | −HK$2.0m | −HK$9.0m | — | −HK$2.0m | −HK$5.0m | — | −HK$5.0m | — |
| Free cash flow | −HK$34.0m | HK$62.0m | — | −HK$4.0m | −HK$3.0m | — | HK$17.0m | — |
| Total assets | HK$1.41bn | HK$1.54bn | HK$1.68bn | HK$1.72bn | HK$1.86bn | HK$1.86bn | HK$1.89bn | HK$1.89bn |
| Cash and short-term investments | HK$14.0m | HK$46.1m | HK$17.4m | HK$34.2m | HK$104.1m | HK$176.4m | HK$50.1m | HK$128.2m |
| Debt | HK$277.6m | HK$299.6m | HK$334.1m | HK$339.4m | HK$319.1m | HK$104.5m | HK$329.0m | HK$100.5m |
| Shareholders' equity | HK$555.9m | HK$583.9m | HK$691.5m | HK$719.1m | HK$870.9m | HK$915.9m | HK$841.3m | HK$890.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -48.7% | -35.6% | -10.1% |
| Operating income | 17.0% | 15.8% | 6.9% |
| Net income | 179.1% | 26.3% | 11.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -43.4% | -27.0% | -12.3% | -11.4% |
| Net margin | -81.7% | -36.0% | -17.7% | -15.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -9.0 | -2.3 | -0.7 | -63.4 | -8.4 | -5.6 | -5.0 | -6.3 | 8.6 | -36.0 |
| Price to sales | 10.7 | 1.4 | 0.4 | 0.5 | 0.3 | 0.2 | 1.5 | 2.2 | 0.5 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Jan 1998.
- 5-to-1 reverse split · 2 Sept 2020
- 2-to-1 reverse split · 18 Oct 2018
- 5-to-1 reverse split · 7 Oct 2009
- 2-for-1 split · 21 Jan 1997
- 2-for-1 split · 21 Jan 1996
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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