R 
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Close of 5 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$128.3m
FY2016FY2025
Net income
−HK$98.8m
FY2016FY2025
Free cash flow
HK$48.5m
FY2016FY2025
Shareholders' equity
HK$971.2m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$128.3m | HK$126.8m | HK$98.4m | HK$60.4m | HK$51.1m | HK$53.9m | HK$119.8m | HK$130.5m | HK$296.8m | HK$278.7m |
| Gross profit | HK$109.1m | HK$104.2m | HK$79.0m | HK$47.8m | HK$44.8m | HK$46.7m | HK$105.0m | HK$115.5m | HK$296.6m | — |
| Operating income | −HK$13.9m | −HK$13.7m | −HK$6.2m | −HK$16.3m | HK$3.7m | −HK$2.1m | HK$74.1m | HK$116.0m | HK$485.8m | HK$601,000 |
| Net income | −HK$98.8m | −HK$50.5m | −HK$10.8m | −HK$3.6m | −HK$30.4m | −HK$85.7m | HK$42.6m | HK$39.0m | −HK$10.2m | −HK$202.1m |
| Diluted earnings per share | -0.05 | -0.03 | -0.01 | -0.00 | -0.02 | -0.07 | 0.05 | 0.05 | -0.01 | -0.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.34bn | HK$1.51bn | HK$1.46bn | HK$1.45bn | HK$1.18bn | HK$1.23bn | HK$1.20bn | HK$1.23bn | HK$1.41bn | HK$1.48bn |
| Cash and short-term investments | HK$73.4m | HK$77.2m | HK$63.1m | HK$121.5m | HK$463.6m | HK$160.0m | HK$84.2m | HK$595.6m | HK$594.3m | HK$148.6m |
| Total liabilities | HK$368.3m | HK$445.2m | HK$340.5m | HK$304.9m | HK$18.9m | HK$32.8m | HK$71.3m | HK$143.3m | HK$357.0m | HK$416.6m |
| Debt | HK$135.6m | HK$211.0m | HK$110.0m | HK$74.0m | — | — | — | — | HK$14.0m | HK$16.4m |
| Shareholders' equity | HK$971.2m | HK$1.06bn | HK$1.11bn | HK$1.15bn | HK$1.16bn | HK$1.19bn | HK$1.13bn | HK$1.09bn | HK$1.05bn | HK$1.06bn |
| Shares outstanding | 1,939m | 1,939m | 1,939m | 1,939m | 1,939m | 1,217m | 795m | 795m | 795m | 539m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$52.3m | −HK$74.3m | −HK$100.5m | −HK$83.5m | HK$324.0m | −HK$54.6m | HK$90.6m | HK$295.2m | HK$742.3m | −HK$756,000 |
| Capital spending | −HK$3.9m | −HK$2.6m | −HK$1.8m | −HK$1.1m | −HK$497,000 | −HK$63,000 | −HK$1.4m | −HK$746,000 | — | — |
| Free cash flow | HK$48.5m | −HK$76.9m | −HK$102.3m | −HK$84.6m | HK$323.5m | −HK$54.7m | HK$89.1m | HK$294.5m | HK$742.3m | −HK$756,000 |
Latest quarters
By quarter end
| Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$62.4m | HK$60.6m | HK$67.7m | HK$63.6m | HK$63.1m | HK$53.3m | HK$45.1m | HK$33.2m |
| Gross profit | HK$52.3m | HK$50.9m | HK$58.2m | HK$53.8m | HK$50.4m | HK$41.7m | HK$37.3m | HK$29.8m |
| Operating income | −HK$3.5m | −HK$6.1m | −HK$7.5m | −HK$10.1m | −HK$314,000 | −HK$2.3m | HK$165,000 | −HK$3.0m |
| Net income | −HK$10.1m | −HK$39.5m | −HK$59.3m | −HK$31.6m | −HK$18.8m | −HK$9.2m | −HK$1.7m | −HK$6.0m |
| Diluted earnings per share | -0.01 | -0.02 | -0.03 | -0.02 | -0.01 | -0.00 | -0.00 | -0.00 |
| Cash from operations | — | HK$37.0m | HK$14.0m | −HK$41.0m | −HK$32.0m | −HK$31.0m | −HK$68.0m | −HK$70.0m |
| Total assets | HK$1.36bn | HK$1.34bn | HK$1.42bn | HK$1.51bn | HK$1.52bn | HK$1.46bn | HK$1.43bn | HK$1.45bn |
| Cash and short-term investments | HK$89.7m | HK$73.4m | HK$63.4m | HK$77.2m | HK$98.6m | HK$63.1m | HK$63.1m | HK$121.5m |
| Debt | HK$125.7m | HK$99.1m | HK$193.7m | HK$210.0m | HK$183.1m | HK$54.7m | HK$10.4m | HK$8.2m |
| Shareholders' equity | HK$961.3m | HK$971.2m | HK$999.3m | HK$1.06bn | HK$1.10bn | HK$1.11bn | HK$1.13bn | HK$1.15bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 28.6% | 18.9% | -12.2% |
| Operating income | -5.3% | 45.4% | — |
| Net income | 200.8% | 2.9% | -19.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 83.6% | 82.2% | 83.2% | — |
| Operating margin | -10.8% | -12.1% | -9.4% | 41.2% |
| Net margin | -58.5% | -39.6% | -53.9% | -68.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.0 | -1.8 | -8.9 | -33.6 | -5.6 | -0.8 | 2.4 | 4.8 | -27.3 | -0.8 |
| Price to sales | 0.7 | 0.7 | 1.0 | 2.0 | 3.3 | 1.2 | 0.9 | 1.4 | 0.9 | 0.6 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 23 May 2016
- 10-to-1 reverse split · 31 May 2007
- 1.184-for-1 split · 20 May 2004
- 50-for-1 split · 1 Dec 2000
- 1-to-1 reverse split · 10 Jan 1989
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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