D 
0.03
—
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$374.0m
FY2015FY2024
Net income
−HK$464.5m
FY2015FY2024
Free cash flow
HK$33.5m
FY2015FY2024
Shareholders' equity
HK$1.37bn
FY2015FY2024
Income statement
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$374.0m | HK$867.2m | HK$1.57bn | HK$2.09bn | HK$1.09bn | HK$695.9m | HK$530.2m | HK$216.6m | HK$37.0m | HK$347,000 |
| Operating income | −HK$232.1m | −HK$179.8m | HK$9.3m | HK$290.4m | HK$248.0m | HK$28.7m | HK$29.2m | −HK$70.3m | HK$16.4m | −HK$98.7m |
| Net income | −HK$464.5m | −HK$315.7m | −HK$148.2m | HK$132.4m | HK$158.8m | HK$110.7m | HK$27.4m | HK$131.7m | −HK$101.1m | −HK$193.2m |
| Diluted earnings per share | -0.15 | -0.10 | -0.05 | 0.05 | 0.06 | 0.04 | 0.01 | 0.05 | -0.04 | -0.09 |
Balance sheet
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$5.49bn | HK$6.33bn | HK$6.69bn | HK$7.56bn | HK$5.21bn | HK$3.47bn | HK$3.36bn | HK$2.87bn | HK$2.43bn | HK$1.67bn |
| Cash and short-term investments | HK$6.4m | HK$9.3m | HK$25.1m | HK$473.6m | HK$443.9m | HK$82.4m | HK$110.8m | HK$606.4m | HK$950.8m | HK$1.37bn |
| Total liabilities | HK$4.12bn | HK$4.45bn | HK$4.46bn | HK$4.89bn | HK$3.06bn | HK$1.64bn | HK$1.59bn | HK$1.02bn | HK$1.05bn | HK$204.0m |
| Debt | HK$1.68bn | HK$1.73bn | HK$1.77bn | HK$2.30bn | HK$1.43bn | HK$488.7m | HK$501.0m | HK$119.6m | HK$220.2m | HK$162.8m |
| Shareholders' equity | HK$1.37bn | HK$1.88bn | HK$2.23bn | HK$2.67bn | HK$2.15bn | HK$1.83bn | HK$1.77bn | HK$1.84bn | HK$1.37bn | HK$1.47bn |
| Shares outstanding | 3,101m | 3,101m | 3,102m | 2,838m | 2,802m | 2,802m | 2,802m | 2,590m | 2,552m | 2,216m |
Cash flow
Fiscal years
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$33.9m | HK$10.9m | HK$120.8m | HK$114.5m | HK$59.8m | HK$7.4m | −HK$85.7m | −HK$20.6m | −HK$50.1m | −HK$29.0m |
| Capital spending | −HK$403,000 | −HK$51.7m | −HK$267.9m | −HK$922.1m | −HK$654.9m | −HK$509.2m | −HK$657.7m | −HK$487.6m | −HK$195.9m | −HK$8.2m |
| Free cash flow | HK$33.5m | −HK$40.8m | −HK$147.1m | −HK$807.5m | −HK$595.1m | −HK$501.7m | −HK$743.4m | −HK$508.2m | −HK$246.0m | −HK$37.2m |
| Dividends paid | — | — | −HK$31.0m | — | — | — | — | — | — | — |
Latest quarters
By quarter end
| Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | Jun 2022 | Dec 2021 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$50.2m | HK$138.7m | HK$235.3m | HK$347.6m | HK$519.6m | HK$747.7m | HK$825.9m | HK$1.49bn |
| Operating income | −HK$136.7m | −HK$124.6m | −HK$107.5m | −HK$137.8m | −HK$42.0m | −HK$68.1m | HK$76.8m | HK$222.1m |
| Net income | −HK$270.8m | −HK$294.0m | −HK$170.5m | −HK$216.0m | −HK$99.7m | −HK$169.1m | HK$21.0m | HK$106.1m |
| Diluted earnings per share | -0.09 | -0.09 | -0.06 | -0.07 | -0.03 | -0.05 | 0.01 | 0.04 |
| Cash from operations | −HK$2.0m | — | HK$33.0m | −HK$18.0m | HK$29.0m | HK$77.0m | HK$43.0m | HK$111.0m |
| Capital spending | — | HK$1.0m | −HK$1.0m | HK$16.0m | −HK$68.0m | −HK$1.0m | −HK$266.0m | −HK$360.0m |
| Free cash flow | — | — | HK$32.0m | −HK$2.0m | −HK$39.0m | HK$76.0m | −HK$223.0m | −HK$249.0m |
| Total assets | HK$5.26bn | HK$5.49bn | HK$5.91bn | HK$6.33bn | HK$6.54bn | HK$6.69bn | HK$7.22bn | HK$7.56bn |
| Cash and short-term investments | HK$2.9m | HK$6.4m | HK$10.5m | HK$9.3m | HK$12.9m | HK$25.1m | HK$144.1m | HK$473.6m |
| Debt | HK$1.39bn | HK$720.0m | HK$381.0m | HK$844.2m | HK$1.08bn | HK$854.4m | HK$1.17bn | HK$1.45bn |
| Shareholders' equity | HK$1.13bn | HK$1.37bn | HK$1.69bn | HK$1.88bn | HK$2.04bn | HK$2.23bn | HK$2.52bn | HK$2.67bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -43.6% | -11.7% | 95.7% |
| Operating income | — | — | 31.3% |
| Net income | — | — | 56.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -33.2% | -2.3% | 2.5% | 0.3% |
| Net margin | -62.9% | -16.2% | -7.9% | -8.9% |
Valuation history
At each fiscal year end
| FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | FY2015 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.6 | -1.5 | -8.5 | 15.9 | 16.9 | 13.0 | 50.7 | 17.3 | -22.0 | -22.5 |
| Price to sales | 0.7 | 0.5 | 0.8 | 1.0 | 2.5 | 2.1 | 2.6 | 10.5 | 60.1 | — |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 26 May 2022.
| FY2022 | |
|---|---|
| Paid in the year | 0.01 |
- 4-to-1 reverse split · 6 Oct 2020
- 10-to-1 reverse split · 26 Oct 2001
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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