S 
0.80
+6.67%
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$288.9m
FY2016FY2025
Net income
−HK$39.2m
FY2016FY2025
Free cash flow
−HK$39.1m
FY2016FY2025
Shareholders' equity
HK$10.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$288.9m | HK$296.4m | HK$321.7m | HK$417.1m | HK$715.1m | HK$437.1m | HK$549.1m | HK$989.7m | HK$716.5m | HK$1.34bn |
| Gross profit | HK$60.0m | HK$59.2m | HK$65.9m | HK$71.6m | HK$119.9m | HK$59.3m | HK$61.4m | HK$173.0m | HK$185.2m | HK$325.4m |
| Research and development | HK$23.0m | HK$30.4m | HK$38.7m | HK$45.1m | HK$51.3m | HK$50.1m | HK$56.9m | HK$98.9m | HK$152.3m | HK$133.1m |
| Operating income | −HK$32.1m | −HK$49.8m | −HK$93.3m | −HK$57.1m | −HK$2.6m | −HK$73.0m | −HK$85.6m | −HK$85.2m | −HK$102.1m | HK$35.0m |
| Net income | −HK$39.2m | −HK$66.0m | −HK$81.5m | −HK$25.1m | −HK$3.9m | −HK$64.0m | −HK$82.3m | −HK$70.8m | −HK$190.9m | HK$53.7m |
| Diluted earnings per share | -0.04 | -0.07 | -0.08 | -0.03 | -0.00 | -0.07 | -0.09 | -0.08 | -0.23 | 0.07 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$281.5m | HK$255.9m | HK$317.9m | HK$541.7m | HK$494.2m | HK$458.6m | HK$499.7m | HK$611.3m | HK$985.4m | HK$1.38bn |
| Cash and short-term investments | HK$69.7m | HK$43.8m | HK$40.7m | HK$89.4m | HK$107.0m | HK$108.4m | HK$110.4m | HK$129.1m | HK$266.2m | HK$573.7m |
| Total liabilities | HK$258.9m | HK$198.4m | HK$232.8m | HK$251.8m | HK$273.3m | HK$242.8m | HK$226.4m | HK$301.2m | HK$415.2m | HK$361.3m |
| Debt | HK$113.3m | HK$43.2m | HK$51.5m | HK$85.1m | HK$62.4m | HK$48.6m | HK$63.3m | HK$81.8m | HK$107.8m | HK$103.6m |
| Shareholders' equity | HK$10.7m | HK$92.5m | HK$142.6m | HK$289.3m | HK$221.9m | HK$217.3m | HK$267.4m | HK$310.1m | HK$570.3m | HK$1.02bn |
| Shares outstanding | 1,009m | 1,009m | 1,009m | 954m | 953m | 953m | 953m | 853m | 844m | 821m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$14.2m | HK$8.9m | −HK$76.7m | HK$24.1m | HK$7.3m | −HK$5.0m | HK$46.3m | −HK$87.7m | −HK$213.6m | HK$135.0m |
| Capital spending | −HK$24.9m | −HK$1.6m | −HK$21.3m | −HK$5.3m | −HK$20.5m | −HK$3.9m | −HK$13.8m | −HK$16.2m | −HK$13.1m | −HK$21.1m |
| Free cash flow | −HK$39.1m | HK$7.3m | −HK$98.0m | HK$18.8m | −HK$13.1m | −HK$8.8m | HK$32.5m | −HK$103.9m | −HK$226.7m | HK$114.0m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$27.3m | −HK$58.4m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$120.9m | HK$154.4m | HK$134.5m | HK$157.3m | HK$139.1m | HK$178.7m | HK$142.9m | HK$152.4m |
| Gross profit | HK$24.8m | HK$45.4m | HK$14.6m | HK$29.8m | HK$29.4m | HK$46.1m | HK$17.6m | HK$29.3m |
| Operating income | −HK$15.3m | HK$28.4m | −HK$28.4m | −HK$10.1m | −HK$37.4m | −HK$40.6m | −HK$56.9m | −HK$36.9m |
| Net income | −HK$28.4m | −HK$18.7m | −HK$20.5m | −HK$41.4m | −HK$24.6m | −HK$42.5m | −HK$39.0m | −HK$25.6m |
| Diluted earnings per share | -0.03 | -0.02 | -0.02 | -0.04 | -0.02 | -0.04 | -0.04 | -0.03 |
| Cash from operations | HK$6.0m | −HK$24.0m | HK$11.0m | HK$2.0m | HK$6.0m | −HK$15.0m | −HK$61.0m | HK$18.0m |
| Capital spending | — | −HK$22.0m | −HK$1.0m | −HK$1.0m | −HK$3.0m | −HK$3.0m | −HK$18.0m | −HK$3.0m |
| Free cash flow | — | −HK$46.0m | HK$10.0m | HK$1.0m | HK$3.0m | −HK$18.0m | −HK$79.0m | HK$15.0m |
| Total assets | HK$261.4m | HK$281.5m | HK$256.3m | HK$255.9m | HK$258.4m | HK$317.9m | HK$387.5m | HK$541.7m |
| Cash and short-term investments | HK$49.8m | HK$69.7m | HK$74.7m | HK$43.8m | HK$38.7m | HK$49.8m | HK$75.3m | HK$89.4m |
| Debt | HK$31.6m | HK$96.0m | HK$45.7m | HK$33.9m | HK$33.4m | HK$31.0m | HK$46.7m | HK$22.8m |
| Shareholders' equity | −HK$5.8m | HK$10.7m | HK$73.7m | HK$92.5m | HK$114.1m | HK$142.6m | HK$191.2m | HK$289.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.5% | -7.9% | -20.1% |
| Operating income | -17.5% | -15.2% | — |
| Net income | 15.9% | -9.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 20.4% | 19.4% | 17.6% | 19.6% |
| Operating margin | -14.0% | -17.5% | -12.4% | -3.2% |
| Net margin | -18.0% | -16.0% | -11.3% | -4.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -18.0 | -21.7 | -15.6 | -55.0 | -44.0 | -3.6 | -3.9 | -5.8 | -6.2 | 26.6 |
| Price to sales | 2.4 | 4.8 | 4.0 | 3.3 | 0.2 | 0.5 | 0.6 | 0.4 | 1.6 | 1.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 24 May 2017.
| FY2017 | FY2016 | FY2015 | |
|---|---|---|---|
| Paid in the year | 0.032 | 0.073 | 0.06 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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