C 
0.52
+0.98%
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$105.8m
FY2016FY2025
Net income
−HK$49.7m
FY2016FY2025
Free cash flow
−HK$19.9m
FY2016FY2025
Shareholders' equity
−HK$8.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$105.8m | HK$181.0m | HK$168.7m | HK$265.8m | HK$365.8m | HK$450.8m | HK$415.4m | HK$429.7m | HK$495.4m | HK$522.9m |
| Gross profit | −HK$5.5m | HK$35.7m | −HK$18.3m | HK$15.7m | HK$31.4m | HK$28.7m | HK$21.0m | HK$45.2m | HK$79.5m | HK$67.2m |
| Operating income | −HK$55.8m | HK$553,000 | −HK$44.3m | −HK$23.9m | −HK$13.2m | −HK$29.3m | −HK$38.1m | −HK$28.3m | −HK$4.2m | −HK$7.0m |
| Net income | −HK$49.7m | −HK$15.5m | −HK$44.4m | −HK$11.5m | −HK$24.4m | −HK$40.1m | −HK$54.3m | −HK$38.9m | −HK$22.2m | −HK$22.5m |
| Diluted earnings per share | -0.09 | -0.03 | -0.10 | -0.03 | -0.05 | -0.09 | -0.12 | -0.09 | -0.05 | -0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$79.5m | HK$149.2m | HK$72.8m | HK$181.0m | HK$292.8m | HK$329.7m | HK$399.0m | HK$370.7m | HK$489.4m | HK$496.3m |
| Cash and short-term investments | HK$11.4m | HK$39.9m | HK$8.9m | HK$12.4m | HK$28.0m | HK$31.1m | HK$84.0m | HK$58.1m | HK$112.6m | HK$109.5m |
| Total liabilities | HK$88.0m | HK$116.9m | HK$46.8m | HK$110.6m | HK$205.5m | HK$232.0m | HK$252.5m | HK$160.5m | HK$165.5m | HK$149.0m |
| Debt | HK$41.9m | HK$56.0m | HK$15.1m | HK$36.6m | HK$89.7m | HK$108.2m | HK$124.9m | HK$61.7m | HK$49.8m | HK$47.0m |
| Shareholders' equity | −HK$8.5m | HK$32.2m | HK$26.0m | HK$70.4m | HK$87.3m | HK$97.8m | HK$146.5m | HK$210.2m | HK$323.9m | HK$347.3m |
| Shares outstanding | 555m | 490m | 446m | 446m | 446m | 446m | 446m | 446m | 446m | 445m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$18.7m | −HK$21.9m | HK$16.9m | −HK$35.3m | HK$14.8m | −HK$25.2m | −HK$20.9m | −HK$10.9m | HK$7.8m | HK$10.8m |
| Capital spending | −HK$1.2m | −HK$368,000 | −HK$765,000 | −HK$1.6m | −HK$3.7m | −HK$3.6m | −HK$13.0m | −HK$9.0m | −HK$4.8m | −HK$10.6m |
| Free cash flow | −HK$19.9m | −HK$22.3m | HK$16.1m | −HK$36.9m | HK$11.0m | −HK$28.8m | −HK$33.9m | −HK$19.9m | HK$3.0m | HK$275,000 |
| Dividends paid | — | — | — | — | — | — | — | −HK$95.0m | — | — |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Sept 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$43.6m | HK$48.6m | HK$57.2m | HK$110.8m | HK$70.2m | HK$35.1m | HK$60.4m | HK$108.3m |
| Gross profit | HK$4.0m | −HK$4.8m | −HK$682,000 | HK$27.4m | HK$8.3m | HK$4.2m | −HK$21.0m | HK$2.7m |
| Operating income | −HK$18.3m | −HK$31.4m | −HK$22.3m | HK$5.5m | −HK$8.1m | −HK$4.1m | −HK$26.5m | −HK$18.6m |
| Net income | −HK$18.9m | −HK$28.7m | −HK$21.0m | −HK$7.2m | −HK$8.3m | −HK$4.2m | −HK$25.2m | −HK$19.2m |
| Diluted earnings per share | -0.03 | -0.05 | -0.04 | -0.01 | -0.02 | -0.01 | -0.06 | -0.04 |
| Cash from operations | HK$15.0m | HK$8.0m | −HK$26.0m | −HK$14.0m | −HK$6.0m | — | HK$15.0m | HK$1.0m |
| Capital spending | — | −HK$1.0m | — | — | — | — | — | −HK$1.0m |
| Free cash flow | — | HK$7.0m | — | — | — | — | — | HK$0 |
| Total assets | HK$104.3m | HK$79.5m | HK$114.0m | HK$149.2m | HK$96.4m | HK$96.4m | HK$72.8m | HK$127.8m |
| Cash and short-term investments | HK$34.6m | HK$11.4m | HK$5.2m | HK$39.9m | HK$34.8m | HK$39.4m | HK$8.9m | HK$13.0m |
| Debt | HK$39.6m | HK$38.3m | HK$42.8m | HK$50.6m | HK$20.5m | HK$20.5m | HK$11.5m | HK$27.6m |
| Shareholders' equity | −HK$18.1m | −HK$8.5m | HK$11.7m | HK$32.2m | HK$44.2m | HK$44.2m | HK$26.0m | HK$54.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.4% | -25.2% | -15.7% |
| Operating income | 32.6% | 13.8% | — |
| Net income | 63.1% | 4.4% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 10.5% | 3.8% | 5.7% | 9.6% |
| Operating margin | -19.3% | -17.1% | -10.8% | -6.0% |
| Net margin | -22.8% | -16.8% | -12.1% | -8.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.6 | -3.2 | -3.2 | -6.8 | -5.6 | -2.2 | -9.3 | -13.1 | -16.4 | -23.1 |
| Price to sales | 7.8 | 0.3 | 0.8 | 0.3 | 0.4 | 0.2 | 1.2 | 1.2 | 0.7 | 1.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Aug 2017.
| FY2018 | FY2014 | FY2013 | FY2012 | FY2011 | FY2010 | FY2009 | FY2008 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.213 | 0.008 | 0.015 | 0.026 | 0.031 | 0.025 | 0.042 | 0.033 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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