P 
0.24
+0.42%
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$140.7m
FY2016FY2025
Net income
−HK$176.0m
FY2016FY2025
Free cash flow
−HK$24.6m
FY2016FY2025
Shareholders' equity
HK$173.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$140.7m | HK$152.0m | HK$411.3m | HK$884.5m | HK$1.47bn | HK$1.25bn | HK$1.79bn | HK$1.98bn | HK$11.8m | HK$14.5m |
| Gross profit | HK$25.0m | HK$8.6m | −HK$7.7m | HK$46.2m | HK$32.8m | HK$11.4m | HK$19.5m | HK$14.4m | — | — |
| Operating income | −HK$39.7m | −HK$71.8m | −HK$77.6m | −HK$65.5m | −HK$34.9m | −HK$43.7m | −HK$32.5m | −HK$16.7m | −HK$41.5m | −HK$38.5m |
| Net income | −HK$176.0m | −HK$21.3m | −HK$202.0m | −HK$158.4m | HK$167.1m | −HK$902.3m | HK$277.1m | −HK$36.8m | −HK$1.29bn | HK$435.9m |
| Diluted earnings per share | -0.58 | -0.07 | -0.89 | -0.65 | 0.68 | -3.67 | 1.12 | -0.17 | -6.34 | 2.27 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$654.7m | HK$911.3m | HK$1.03bn | HK$1.60bn | HK$789.0m | HK$547.2m | HK$1.49bn | HK$1.43bn | HK$1.18bn | HK$3.61bn |
| Cash and short-term investments | HK$147.9m | HK$83.2m | HK$78.3m | HK$120.0m | HK$241.2m | HK$284.0m | HK$72.1m | HK$287.0m | HK$301.2m | HK$102.7m |
| Total liabilities | HK$481.5m | HK$567.1m | HK$694.7m | HK$1.04bn | HK$79.5m | HK$23.5m | HK$15.6m | HK$146.3m | HK$16.9m | HK$72.1m |
| Debt | HK$480.6m | HK$520.9m | HK$574.2m | HK$621.2m | HK$6.9m | HK$4.7m | — | HK$14.3m | HK$7.2m | HK$61.9m |
| Shareholders' equity | HK$173.2m | HK$344.1m | HK$334.4m | HK$558.8m | HK$709.5m | HK$523.7m | HK$1.47bn | HK$1.28bn | HK$1.16bn | HK$3.53bn |
| Shares outstanding | 303m | 288m | 226m | 245m | 245m | 245m | 245m | 207m | 204m | 191m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$14.0m | −HK$69.7m | −HK$50.5m | −HK$37.0m | −HK$29.2m | −HK$35.4m | −HK$89.5m | −HK$122.0m | HK$43.6m | −HK$206.6m |
| Capital spending | −HK$10.6m | −HK$7.5m | −HK$6.4m | −HK$68.3m | −HK$2.2m | −HK$3.2m | −HK$2.8m | −HK$1.8m | −HK$594,000 | −HK$2.6m |
| Free cash flow | −HK$24.6m | −HK$77.2m | −HK$57.0m | −HK$105.2m | −HK$31.4m | −HK$38.6m | −HK$92.2m | −HK$123.9m | HK$43.0m | −HK$209.2m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$38.5m | −HK$19.6m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$62.0m | HK$64.6m | HK$76.0m | HK$112.7m | HK$20.0m | HK$43.9m | HK$367.4m | HK$387.4m |
| Gross profit | HK$13.6m | −HK$33.2m | HK$4.3m | −HK$83.9m | −HK$653,000 | −HK$3.2m | −HK$4.5m | HK$12.5m |
| Operating income | −HK$17.1m | −HK$67.6m | −HK$26.1m | −HK$113.7m | −HK$39.5m | −HK$32.2m | −HK$45.4m | −HK$45.3m |
| Net income | −HK$26.8m | −HK$134.8m | −HK$41.1m | −HK$373.5m | HK$352.2m | −HK$111.6m | −HK$90.3m | −HK$62.8m |
| Diluted earnings per share | -0.09 | -0.44 | -0.13 | -1.23 | 1.28 | -0.54 | -0.36 | -0.25 |
| Total assets | — | — | — | HK$911.3m | HK$1.37bn | HK$1.03bn | HK$1.29bn | HK$1.60bn |
| Cash and short-term investments | — | — | — | HK$83.2m | HK$138.7m | HK$78.3m | HK$102.8m | HK$120.0m |
| Debt | — | — | — | HK$109.9m | HK$16.5m | HK$24.4m | HK$23.6m | HK$572.6m |
| Shareholders' equity | — | — | — | HK$344.1m | HK$720.6m | HK$334.4m | HK$441.5m | HK$558.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -45.8% | -35.4% | 31.5% |
| Operating income | -15.3% | -1.9% | -0.9% |
| Net income | 3.6% | -27.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 11.5% | 4.5% | 2.7% | — |
| Operating margin | -38.1% | -16.0% | -7.7% | -6.2% |
| Net margin | -67.4% | -35.1% | -30.0% | -20.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.5 | -3.8 | -0.5 | -1.3 | 1.9 | -0.3 | 1.7 | -10.4 | -0.4 | 0.8 |
| Price to sales | 0.6 | 0.5 | 0.2 | 0.2 | 0.2 | 0.2 | 0.3 | 0.2 | 40.1 | 25.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 19 Aug 2016.
| FY2017 | FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2011 | FY2009 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.30 | 0.60 | 0.40 | 0.40 | 0.40 | 0.20 | 0.20 | 0.60 |
- 10-to-1 reverse split · 11 Dec 2024
- 20-to-1 reverse split · 3 Apr 2009
- 1-to-1 reverse split · 24 Jan 2008
- 6-for-5 split · 9 Oct 2007
- 1-to-1 reverse split · 18 Jan 2007
- 1-to-1 reverse split · 28 Sept 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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