C 
0.30
+17.65%
Close of 6 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$228.1m
FY2016FY2025
Net income
−HK$19.2m
FY2016FY2025
Free cash flow
−HK$21.8m
FY2016FY2025
Shareholders' equity
—
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$228.1m | HK$188.5m | HK$247.9m | HK$193.1m | HK$56.2m | HK$110.6m | HK$148.6m | HK$28.1m | HK$10.2m | HK$17.8m |
| Gross profit | HK$11.3m | HK$7.7m | HK$4.6m | HK$8.2m | HK$2.2m | HK$3.8m | HK$10.8m | HK$1.1m | HK$191,000 | HK$464,000 |
| Research and development | — | — | — | — | HK$1.3m | HK$2.8m | — | — | — | — |
| Operating income | −HK$8.2m | −HK$11.3m | −HK$20.6m | −HK$14.6m | −HK$18.6m | −HK$35.3m | −HK$34.5m | −HK$22.8m | −HK$37.9m | −HK$37.1m |
| Net income | −HK$19.2m | −HK$31.1m | −HK$11.9m | −HK$14.0m | −HK$24.6m | −HK$33.5m | −HK$35.6m | −HK$23.1m | −HK$37.9m | −HK$36.8m |
| Diluted earnings per share | -0.05 | -0.08 | -0.03 | -0.04 | -0.07 | -0.10 | -0.11 | -0.07 | -0.12 | -0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | — | HK$259.3m | HK$256.0m | HK$242.0m | HK$235.1m | HK$151.9m | HK$183.6m | HK$103.5m | HK$46.0m | HK$73.9m |
| Cash and short-term investments | — | HK$16.3m | HK$13.1m | HK$20.1m | HK$37.3m | HK$37.3m | HK$65.5m | HK$79.4m | HK$38.5m | HK$64.0m |
| Total liabilities | — | HK$255.4m | HK$226.2m | HK$217.8m | HK$212.3m | HK$124.2m | HK$157.7m | HK$76.5m | HK$1.9m | HK$2.6m |
| Debt | — | HK$170.4m | HK$149.8m | HK$149.5m | HK$140.9m | HK$105.7m | HK$106.7m | HK$71.5m | — | — |
| Shareholders' equity | — | HK$3.9m | HK$29.9m | HK$24.2m | HK$22.8m | HK$27.6m | HK$25.8m | HK$26.9m | HK$44.1m | HK$71.3m |
| Shares outstanding | 400m | 388m | 388m | 385m | 372m | 340m | 331m | 330m | 330m | 311m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$21.5m | −HK$10.0m | HK$9.1m | −HK$28.2m | −HK$1.0m | −HK$16.8m | −HK$41.0m | −HK$20.9m | −HK$22.5m | −HK$18.9m |
| Capital spending | −HK$291,000 | −HK$121,000 | −HK$738,000 | −HK$333,000 | −HK$2.4m | −HK$342,000 | −HK$26.7m | −HK$12.5m | −HK$1.4m | −HK$43,000 |
| Free cash flow | −HK$21.8m | −HK$10.1m | HK$8.4m | −HK$28.5m | −HK$3.4m | −HK$17.1m | −HK$67.7m | −HK$33.4m | −HK$23.9m | −HK$18.9m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$67.9m | HK$141.4m | HK$86.7m | HK$97.8m | HK$90.7m | HK$45.4m | HK$112.3m | HK$56.1m |
| Gross profit | HK$4.1m | HK$5.4m | HK$5.9m | HK$4.2m | HK$3.5m | HK$1.8m | HK$2.7m | HK$1.4m |
| Operating income | −HK$2.9m | −HK$4.5m | −HK$3.7m | −HK$5.6m | −HK$5.7m | −HK$7.2m | −HK$14.1m | −HK$10.9m |
| Net income | −HK$10.2m | −HK$9.9m | −HK$9.3m | −HK$19.1m | −HK$11.9m | −HK$6.0m | −HK$6.3m | −HK$3.8m |
| Diluted earnings per share | -0.02 | -0.02 | -0.02 | -0.05 | -0.03 | -0.00 | -0.02 | -0.02 |
| Total assets | — | — | — | HK$259.3m | HK$259.4m | HK$259.4m | HK$256.0m | HK$256.0m |
| Cash and short-term investments | — | — | — | HK$16.3m | HK$19.4m | HK$19.4m | HK$13.1m | HK$13.5m |
| Debt | — | — | — | HK$166.1m | HK$155.6m | HK$155.6m | HK$146.9m | HK$146.9m |
| Shareholders' equity | — | — | — | HK$3.9m | HK$15.9m | HK$39.3m | HK$29.9m | HK$54.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.7% | 15.6% | 14.9% |
| Operating income | -17.6% | -25.3% | -9.6% |
| Net income | 11.1% | -10.6% | -1.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 4.6% | 3.7% | 3.7% | 4.5% |
| Operating margin | -4.7% | -6.4% | -10.6% | -20.5% |
| Net margin | -12.1% | -8.9% | -13.1% | -22.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -10.4 | -6.7 | -23.1 | -16.5 | -14.1 | -8.6 | -7.9 | -19.6 | -10.9 | -12.8 |
| Price to sales | 0.9 | 1.1 | 1.1 | 1.2 | 6.2 | 2.6 | 1.9 | 16.1 | 40.4 | 26.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Dec 2008.
| FY2009 | FY2008 | |
|---|---|---|
| Paid in the year | 0.08 | 0.10 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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