G 
0.02
0.00%
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$137.6m
FY2016FY2025
Net income
−HK$364.6m
FY2016FY2025
Free cash flow
−HK$51.0m
FY2016FY2025
Shareholders' equity
HK$31.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$137.6m | HK$187.8m | HK$291.9m | HK$341.2m | HK$391.0m | HK$388.9m | HK$313.9m | HK$197.3m | HK$128.7m | HK$183.8m |
| Research and development | HK$8.1m | HK$13.1m | HK$18.1m | HK$16.4m | HK$22.7m | HK$16.9m | HK$16.8m | HK$6.7m | HK$6.4m | HK$7.3m |
| Operating income | −HK$101.4m | −HK$103.2m | −HK$91.8m | −HK$27.8m | −HK$60.5m | −HK$36.6m | −HK$39.7m | −HK$38.4m | −HK$60.6m | −HK$16.4m |
| Net income | −HK$364.6m | −HK$111.4m | −HK$113.2m | −HK$69.7m | −HK$53.5m | −HK$91.7m | −HK$57.1m | −HK$36.0m | −HK$57.3m | −HK$9.4m |
| Diluted earnings per share | -0.39 | -0.32 | -0.14 | -0.10 | -0.11 | -0.19 | -0.12 | -0.08 | -0.13 | -0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$541.9m | HK$809.3m | HK$847.3m | HK$894.7m | HK$1.10bn | HK$1.10bn | HK$1.15bn | HK$314.2m | HK$309.1m | HK$234.4m |
| Cash and short-term investments | HK$27.3m | HK$15.6m | HK$27.2m | HK$31.5m | HK$39.4m | HK$37.7m | HK$53.9m | HK$95.3m | HK$112.4m | HK$83.9m |
| Total liabilities | HK$500.6m | HK$529.0m | HK$477.7m | HK$524.8m | HK$905.9m | HK$935.7m | HK$930.4m | HK$213.8m | HK$167.3m | HK$63.2m |
| Debt | HK$223.6m | HK$240.4m | HK$233.2m | HK$308.8m | HK$530.9m | HK$608.8m | HK$488.4m | HK$107.5m | HK$63.5m | — |
| Shareholders' equity | HK$31.5m | HK$280.4m | HK$369.7m | HK$380.6m | HK$197.3m | HK$171.5m | HK$220.7m | HK$91.6m | HK$122.2m | HK$171.2m |
| Shares outstanding | 940m | 346m | 789m | 683m | 509m | 472m | 472m | 425m | 425m | 431m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$9.8m | −HK$5.3m | −HK$11.2m | HK$42.4m | −HK$29.4m | HK$3.2m | −HK$22.9m | −HK$9.2m | HK$2.0m | −HK$14.5m |
| Capital spending | −HK$41.2m | −HK$152,000 | −HK$738,000 | −HK$822,000 | −HK$1.8m | −HK$15.3m | −HK$5.7m | −HK$16.7m | −HK$3.1m | −HK$2.0m |
| Free cash flow | −HK$51.0m | −HK$5.5m | −HK$11.9m | HK$41.6m | −HK$31.2m | −HK$12.1m | −HK$28.5m | −HK$25.9m | −HK$1.0m | −HK$16.6m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$59,000 | −HK$22.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$75.8m | HK$60.7m | HK$76.8m | HK$94.1m | HK$93.7m | HK$140.7m | HK$151.3m | HK$178.1m |
| Operating income | −HK$35.0m | −HK$80.4m | −HK$21.0m | −HK$51.8m | −HK$61.3m | −HK$51.7m | −HK$40.4m | −HK$15.3m |
| Net income | −HK$35.9m | −HK$340.0m | −HK$24.6m | −HK$57.3m | −HK$54.1m | −HK$69.2m | −HK$44.0m | −HK$10.0m |
| Diluted earnings per share | -0.04 | -0.36 | -0.03 | -0.17 | -0.16 | -0.09 | -0.06 | -0.01 |
| Cash from operations | — | −HK$9.0m | −HK$23.0m | −HK$8.0m | −HK$1.0m | −HK$2.0m | −HK$8.0m | HK$52.0m |
| Capital spending | — | −HK$41.0m | −HK$23.0m | — | — | — | — | — |
| Free cash flow | — | −HK$50.0m | −HK$46.0m | — | — | — | — | — |
| Total assets | HK$557.8m | HK$541.9m | HK$891.3m | HK$809.3m | HK$839.3m | HK$847.3m | HK$903.1m | HK$894.7m |
| Cash and short-term investments | HK$19.5m | HK$27.3m | HK$10.7m | HK$15.6m | HK$10.4m | HK$27.2m | HK$17.5m | HK$31.5m |
| Debt | HK$148.2m | HK$211.6m | HK$222.0m | HK$240.4m | HK$234.2m | HK$218.2m | HK$263.1m | HK$313.9m |
| Shareholders' equity | HK$15.1m | HK$31.5m | HK$379.3m | HK$280.4m | HK$329.2m | HK$369.7m | HK$373.9m | HK$380.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -26.1% | -18.8% | -5.3% |
| Operating income | 54.0% | 22.6% | — |
| Net income | 73.6% | 31.8% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -62.9% | -33.8% | -24.2% | -19.6% |
| Net margin | -146.3% | -68.7% | -46.3% | -33.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.2 | -0.1 | -2.0 | -3.9 | -8.6 | -3.9 | -28.6 | -50.5 | -23.4 | -42.9 |
| Price to sales | 0.5 | 0.1 | 0.8 | 0.8 | 1.2 | 0.9 | 5.2 | 9.2 | 10.4 | 2.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 23 May 2016.
| FY2016 | FY2015 | |
|---|---|---|
| Paid in the year | 0.003 | 0.003 |
- 5-to-1 reverse split · 26 Mar 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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