A 
0.82
+5.16%
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$5.72bn
FY2016FY2025
Net income
HK$66.6m
FY2016FY2025
Free cash flow
−HK$148.8m
FY2016FY2025
Shareholders' equity
HK$341.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$5.72bn | HK$3.05bn | HK$2.53bn | HK$2.69bn | HK$2.67bn | HK$1.76bn | HK$1.94bn | HK$3.72bn | HK$2.84bn | HK$1.70bn |
| Gross profit | HK$413.9m | HK$177.7m | HK$164.0m | HK$114.9m | HK$225.9m | HK$139.0m | HK$153.8m | HK$178.1m | HK$141.4m | HK$94.3m |
| Research and development | HK$2.4m | HK$3.6m | HK$2.9m | HK$3.1m | HK$2.8m | HK$2.8m | HK$439,000 | — | — | — |
| Operating income | HK$172.2m | HK$39.3m | HK$24.9m | −HK$14.1m | HK$32.7m | HK$6.4m | HK$15.4m | HK$54.3m | HK$64.7m | HK$61.7m |
| Net income | HK$66.6m | HK$6.7m | −HK$16.2m | −HK$32.4m | HK$6.7m | −HK$5.1m | −HK$8.2m | HK$22.6m | HK$35.0m | HK$39.7m |
| Diluted earnings per share | 0.06 | 0.01 | -0.02 | -0.03 | 0.01 | -0.01 | -0.01 | 0.02 | 0.03 | 0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.90bn | HK$1.29bn | HK$1.35bn | HK$1.01bn | HK$1.09bn | HK$1.03bn | HK$935.5m | HK$962.4m | HK$1.08bn | HK$600.0m |
| Cash and short-term investments | HK$239.9m | HK$141.7m | HK$96.5m | HK$99.6m | HK$143.7m | HK$95.0m | HK$211.8m | HK$182.6m | HK$66.3m | HK$56.0m |
| Total liabilities | HK$1.49bn | HK$968.7m | HK$1.03bn | HK$670.9m | HK$753.8m | HK$707.0m | HK$627.1m | HK$632.7m | HK$881.1m | HK$447.9m |
| Debt | HK$980.6m | HK$672.4m | HK$828.2m | HK$508.5m | HK$539.8m | HK$479.7m | HK$349.1m | HK$391.3m | HK$479.5m | HK$262.4m |
| Shareholders' equity | HK$341.9m | HK$289.3m | HK$280.6m | HK$311.2m | HK$304.8m | HK$293.4m | HK$282.5m | HK$305.9m | HK$185.0m | HK$147.1m |
| Shares outstanding | 1,139m | 1,087m | 1,059m | 1,062m | 1,000m | 1,000m | 1,000m | 1,001m | 1,000m | 1,000m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$135.7m | HK$256.6m | −HK$279.6m | HK$27.8m | HK$3.6m | −HK$229.4m | HK$114.5m | HK$140.1m | −HK$193.4m | −HK$71.4m |
| Capital spending | −HK$13.1m | −HK$1.6m | −HK$1.1m | −HK$2.0m | −HK$1.8m | −HK$8.8m | −HK$8.4m | −HK$12.1m | −HK$1.2m | −HK$49.3m |
| Free cash flow | −HK$148.8m | HK$255.0m | −HK$280.7m | HK$25.8m | HK$1.7m | −HK$238.2m | HK$106.1m | HK$128.0m | −HK$194.6m | −HK$120.7m |
| Dividends paid | −HK$9.4m | −HK$2.7m | −HK$50,000 | −HK$3.3m | −HK$2.6m | −HK$2.9m | −HK$11.9m | −HK$18.2m | −HK$16.0m | — |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$4.97bn | HK$3.52bn | HK$2.20bn | HK$1.46bn | HK$729.3m | HK$1.59bn | HK$796.7m | HK$1.60bn |
| Gross profit | HK$316.0m | HK$302.3m | HK$111.5m | HK$83.2m | HK$41.6m | HK$94.5m | HK$47.2m | HK$113.4m |
| Operating income | HK$213.7m | HK$129.5m | HK$42.7m | HK$14.4m | HK$7.2m | HK$21.3m | HK$10.6m | HK$32.6m |
| Net income | HK$134.0m | HK$55.8m | HK$10.7m | HK$4.0m | HK$2.0m | HK$2.8m | HK$1.4m | HK$1.5m |
| Diluted earnings per share | 0.12 | 0.05 | 0.01 | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | — | −HK$3.0m | −HK$171.0m | HK$19.0m | — | HK$236.0m | HK$118.0m | −HK$229.0m |
| Capital spending | — | −HK$12.0m | — | — | — | −HK$2.0m | −HK$1.0m | — |
| Free cash flow | — | −HK$15.0m | — | — | — | HK$234.0m | HK$117.0m | — |
| Total assets | HK$2.86bn | HK$1.90bn | HK$1.60bn | HK$1.29bn | HK$1.29bn | HK$1.21bn | HK$1.21bn | HK$1.35bn |
| Cash and short-term investments | HK$213.6m | HK$239.9m | HK$120.2m | HK$141.7m | HK$141.7m | HK$112.0m | HK$112.0m | HK$96.5m |
| Debt | HK$1.69bn | HK$983.6m | HK$824.4m | HK$672.4m | HK$653.1m | HK$657.1m | HK$636.6m | HK$828.2m |
| Shareholders' equity | HK$448.7m | HK$351.9m | HK$302.1m | HK$289.3m | HK$289.3m | HK$291.0m | HK$291.0m | HK$290.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 28.6% | 26.7% | 17.7% |
| Operating income | — | 93.2% | 20.8% |
| Net income | — | — | 10.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 6.7% | 6.2% | 6.7% | 6.2% |
| Operating margin | 2.4% | 1.6% | 1.4% | 1.6% |
| Net margin | 0.8% | 0.2% | 0.1% | 0.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | 4.5 | 70.4 | -17.6 | -8.9 | 28.1 | -22.7 | -15.0 | 9.1 |
| Price to sales | 0.1 | 0.2 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2019.
| FY2019 | |
|---|---|
| Paid in the year | 0.006 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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