M 
0.23
-5.86%
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$110.3m
FY2016FY2025
Net income
−HK$56.7m
FY2016FY2025
Free cash flow
HK$26.9m
FY2016FY2025
Shareholders' equity
HK$249.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$110.3m | HK$117.8m | HK$75.6m | HK$78.2m | HK$95.6m | HK$153.6m | HK$120.4m | HK$114.5m | HK$100.1m | HK$126.8m |
| Operating income | −HK$34.2m | −HK$3.7m | −HK$26.3m | −HK$43.9m | −HK$69.9m | −HK$59.2m | −HK$68.5m | −HK$63.3m | −HK$117.7m | −HK$59.2m |
| Net income | −HK$56.7m | −HK$21.4m | −HK$48.9m | −HK$39.2m | −HK$58.2m | −HK$97.2m | −HK$85.4m | −HK$49.2m | −HK$82.3m | −HK$66.2m |
| Diluted earnings per share | -0.01 | -0.00 | -0.01 | -0.01 | -0.01 | -0.02 | -0.01 | -0.01 | -0.01 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$588.2m | HK$661.1m | HK$688.1m | HK$757.2m | HK$780.9m | HK$866.9m | HK$799.0m | HK$815.9m | HK$843.0m | HK$928.2m |
| Cash and short-term investments | HK$42.0m | HK$32.6m | HK$44.3m | HK$20.8m | HK$33.2m | HK$37.2m | HK$53.3m | HK$99.2m | HK$171.9m | HK$270.8m |
| Total liabilities | HK$338.8m | HK$352.6m | HK$356.9m | HK$397.8m | HK$406.4m | HK$429.6m | HK$262.6m | HK$192.2m | HK$161.4m | HK$168.9m |
| Debt | HK$213.9m | HK$215.2m | HK$227.8m | HK$257.5m | HK$244.9m | HK$240.0m | HK$95.3m | HK$46.4m | HK$9.8m | HK$10.3m |
| Shareholders' equity | HK$249.4m | HK$308.6m | HK$331.2m | HK$359.4m | HK$374.5m | HK$437.3m | HK$536.4m | HK$623.6m | HK$681.6m | HK$759.3m |
| Shares outstanding | 5,924m | 5,924m | 5,924m | 5,924m | 5,924m | 5,924m | 5,924m | 5,924m | 5,924m | 5,832m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$45.4m | HK$22.4m | HK$53.7m | HK$4.0m | HK$13.8m | HK$23.8m | HK$10.8m | −HK$3.9m | −HK$54.5m | −HK$789,000 |
| Capital spending | −HK$18.5m | −HK$20.8m | −HK$8.9m | −HK$13.9m | −HK$14.4m | −HK$45.7m | −HK$91.6m | −HK$103.7m | −HK$50.3m | −HK$37.4m |
| Free cash flow | HK$26.9m | HK$1.6m | HK$44.8m | −HK$9.9m | −HK$592,000 | −HK$21.9m | −HK$80.8m | −HK$107.6m | −HK$104.8m | −HK$38.2m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$46.7m | HK$29.0m | HK$81.3m | HK$56.2m | HK$61.6m | HK$46.1m | HK$29.5m | HK$39.1m |
| Operating income | −HK$471,000 | −HK$13.5m | −HK$20.6m | −HK$14.9m | HK$11.2m | −HK$14.0m | −HK$11.6m | −HK$31.9m |
| Net income | −HK$16.3m | −HK$20.7m | −HK$36.0m | −HK$16.9m | −HK$4.5m | −HK$19.5m | −HK$29.4m | −HK$32.4m |
| Diluted earnings per share | -0.00 | -0.00 | -0.01 | -0.00 | -0.00 | -0.00 | -0.01 | -0.01 |
| Total assets | HK$569.3m | HK$588.2m | HK$624.3m | HK$661.1m | HK$665.0m | HK$688.1m | HK$717.1m | HK$757.2m |
| Cash and short-term investments | HK$22.0m | HK$42.0m | HK$25.8m | HK$32.6m | HK$40.4m | HK$44.3m | HK$23.0m | HK$20.8m |
| Debt | HK$188.0m | HK$186.2m | HK$198.5m | HK$188.8m | HK$181.6m | HK$199.7m | HK$200.6m | HK$221.8m |
| Shareholders' equity | HK$234.2m | HK$249.4m | HK$272.8m | HK$308.6m | HK$331.3m | HK$331.2m | HK$348.4m | HK$359.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 12.2% | -6.4% | -0.8% |
| Operating income | -8.0% | -10.4% | -4.8% |
| Net income | 13.0% | -10.2% | 3.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -16.6% | -28.3% | -37.6% | -49.7% |
| Net margin | -34.2% | -43.5% | -51.0% | -53.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.4 | -26.2 | -20.6 | -16.9 | -10.4 | -5.4 | -12.6 | -27.0 | -22.0 | -45.8 |
| Price to sales | 5.4 | 4.8 | 13.3 | 8.5 | 6.3 | 3.4 | 8.9 | 11.6 | 18.1 | 23.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 Aug 2007.
| FY2008 | FY2007 | |
|---|---|---|
| Paid in the year | 0.001 | 0.001 |
- 5-for-1 split · 22 Dec 2009
- 3-for-1 split · 19 Sept 2000
- 50-to-1 reverse split · 11 Aug 1998
- 15-for-1 split · 28 Feb 1997
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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