A 
0.50
—
Close of 3 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$465.2m
FY2016FY2025
Net income
−HK$96.1m
FY2016FY2025
Free cash flow
−HK$64.3m
FY2016FY2025
Shareholders' equity
HK$717.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$465.2m | HK$484.8m | HK$413.3m | HK$783.2m | HK$909.5m | HK$982.8m | HK$1.21bn | HK$1.31bn | HK$1.33bn | HK$1.57bn |
| Gross profit | HK$11.6m | HK$39.5m | HK$16.7m | HK$51.5m | HK$153.1m | HK$143.8m | HK$95.1m | HK$128.9m | HK$191.5m | HK$188.6m |
| Operating income | −HK$59.7m | −HK$19.2m | −HK$45.5m | −HK$36.2m | HK$52.8m | HK$41.4m | −HK$23.3m | HK$22.0m | HK$74.9m | HK$37.6m |
| Net income | −HK$96.1m | −HK$69.1m | −HK$62.1m | −HK$27.0m | HK$46.4m | −HK$18.2m | HK$28.1m | HK$46.8m | HK$72.9m | HK$135.7m |
| Diluted earnings per share | -0.29 | -0.21 | -0.19 | -0.08 | 0.14 | -0.05 | 0.08 | 0.14 | 0.22 | 0.40 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$937.6m | HK$1.09bn | HK$1.25bn | HK$1.41bn | HK$1.58bn | HK$1.47bn | HK$1.50bn | HK$1.59bn | HK$1.61bn | HK$1.69bn |
| Cash and short-term investments | HK$373.4m | HK$484.7m | HK$563.1m | HK$533.6m | HK$662.0m | HK$705.8m | HK$624.9m | HK$597.0m | HK$739.8m | HK$734.1m |
| Total liabilities | HK$220.3m | HK$221.4m | HK$241.5m | HK$310.0m | HK$378.9m | HK$308.4m | HK$362.9m | HK$449.4m | HK$490.0m | HK$520.4m |
| Debt | HK$5.5m | HK$10.7m | HK$15.8m | HK$20.9m | HK$26.0m | HK$31.2m | HK$36.3m | HK$41.4m | HK$46.5m | HK$57.2m |
| Shareholders' equity | HK$717.3m | HK$871.0m | HK$1.01bn | HK$1.10bn | HK$1.20bn | HK$1.17bn | HK$1.13bn | HK$1.14bn | HK$1.12bn | HK$1.17bn |
| Shares outstanding | 333m | 333m | 333m | 334m | 335m | 335m | 335m | 335m | 335m | 335m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$62.5m | −HK$38.4m | HK$54.1m | −HK$32.0m | −HK$16.7m | HK$117.9m | −HK$602,000 | −HK$32.4m | HK$152.4m | HK$208.5m |
| Capital spending | −HK$1.8m | — | −HK$1.9m | −HK$11.9m | −HK$7.9m | −HK$12.5m | −HK$24.7m | −HK$30.1m | −HK$23.5m | −HK$13.5m |
| Free cash flow | −HK$64.3m | −HK$38.4m | HK$52.2m | −HK$43.9m | −HK$24.6m | HK$105.4m | −HK$25.3m | −HK$62.6m | HK$128.9m | HK$195.0m |
| Dividends paid | −HK$56.6m | −HK$50.0m | −HK$6.7m | −HK$83.8m | −HK$30.2m | −HK$16.8m | −HK$23.5m | −HK$41.9m | −HK$119.1m | −HK$30.2m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$317.6m | HK$189.1m | HK$276.1m | HK$208.4m | HK$276.4m | HK$166.9m | HK$246.4m | HK$337.3m |
| Gross profit | HK$36.3m | −HK$8.4m | HK$20.1m | HK$18.3m | HK$21.3m | HK$2.4m | HK$14.3m | HK$9.5m |
| Operating income | −HK$1.7m | −HK$43.0m | −HK$18.5m | −HK$7.1m | −HK$12.1m | −HK$18.5m | −HK$21.3m | −HK$36.9m |
| Net income | −HK$18.5m | −HK$66.6m | −HK$29.5m | −HK$48.3m | −HK$20.8m | −HK$16.6m | −HK$45.5m | −HK$36.4m |
| Diluted earnings per share | -0.06 | -0.20 | -0.09 | -0.15 | -0.06 | -0.05 | -0.14 | -0.11 |
| Total assets | HK$959.7m | HK$937.6m | HK$1.06bn | HK$1.09bn | HK$1.25bn | HK$1.25bn | HK$1.28bn | HK$1.41bn |
| Cash and short-term investments | HK$306.4m | HK$373.4m | HK$405.3m | HK$484.7m | HK$516.0m | HK$563.1m | HK$570.6m | HK$533.6m |
| Debt | — | HK$417,000 | HK$3.0m | HK$5.5m | HK$8.1m | HK$10.7m | HK$13.2m | HK$15.8m |
| Shareholders' equity | HK$703.3m | HK$717.3m | HK$800.6m | HK$871.0m | HK$966.9m | HK$1.01bn | HK$1.01bn | HK$1.10bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -15.9% | -13.9% | -13.3% |
| Operating income | 18.1% | — | — |
| Net income | 52.7% | 39.6% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 5.4% | 5.6% | 10.3% | 10.9% |
| Operating margin | -8.3% | -7.5% | -1.6% | 0.8% |
| Net margin | -17.4% | -11.8% | -5.6% | 1.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | -3.1 | -4.9 | -11.4 | 12.1 | -26.4 | 16.7 | 10.7 | 9.0 | 4.3 |
| Price to sales | 0.4 | 0.5 | 0.7 | 0.4 | 0.6 | 0.5 | 0.4 | 0.4 | 0.5 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 12 Dec 2024.
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.06 | 0.02 | 0.02 | 0.10 | 0.09 | 0.05 | 0.07 | 0.125 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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