G 
0.11
-5.00%
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$46.3m
FY2016FY2025
Net income
−HK$8.5m
FY2016FY2025
Free cash flow
HK$189,000
FY2016FY2025
Shareholders' equity
−HK$27.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$46.3m | HK$76.1m | HK$162.5m | HK$323.6m | HK$221.2m | HK$441.8m | HK$230.0m | HK$66.9m | HK$55.1m | HK$18.2m |
| Research and development | HK$3.0m | HK$5.9m | HK$9.8m | HK$28.9m | — | — | — | — | — | — |
| Operating income | −HK$7.2m | −HK$3.1m | −HK$57.7m | −HK$43.2m | HK$26.7m | −HK$31.4m | −HK$12.0m | −HK$17.9m | −HK$10.0m | −HK$13.2m |
| Net income | −HK$8.5m | −HK$9.2m | −HK$58.2m | −HK$41.1m | HK$22.6m | −HK$31.7m | −HK$16.8m | −HK$38.8m | −HK$17.8m | −HK$24.8m |
| Diluted earnings per share | -0.03 | -0.03 | -0.18 | -0.12 | 0.07 | -0.10 | -0.07 | -0.16 | -0.08 | -0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$166.1m | HK$205.7m | HK$229.9m | HK$333.4m | HK$216.6m | HK$357.8m | HK$381.2m | HK$381.0m | HK$335.2m | HK$357.0m |
| Cash and short-term investments | HK$8.2m | HK$8.6m | HK$12.5m | HK$27.6m | HK$18.7m | HK$13.3m | HK$32.4m | HK$59.1m | HK$62.7m | HK$70.7m |
| Total liabilities | HK$193.8m | HK$223.8m | HK$243.2m | HK$289.8m | HK$91.8m | HK$234.7m | HK$245.6m | HK$222.6m | HK$193.5m | HK$210.0m |
| Debt | HK$71.1m | HK$75.3m | HK$73.8m | HK$75.3m | HK$38.8m | HK$8.5m | HK$30.2m | HK$191.2m | HK$180.8m | HK$193.9m |
| Shareholders' equity | −HK$27.8m | −HK$18.1m | −HK$13.2m | HK$43.6m | HK$124.8m | HK$79.2m | HK$82.7m | HK$110.7m | HK$130.8m | HK$134.6m |
| Shares outstanding | 332m | 331m | 330m | 330m | 330m | 325m | 237m | 237m | 237m | 237m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$536,000 | −HK$668,000 | −HK$8.1m | HK$23.4m | −HK$32.6m | −HK$60.4m | −HK$24.6m | HK$33.2m | HK$7.4m | −HK$9.7m |
| Capital spending | −HK$347,000 | −HK$56,000 | −HK$14,000 | −HK$166,000 | −HK$108,000 | −HK$433,000 | −HK$10,000 | −HK$2.3m | −HK$6,000 | −HK$2.7m |
| Free cash flow | HK$189,000 | −HK$724,000 | −HK$8.1m | HK$23.3m | −HK$32.7m | −HK$60.8m | −HK$24.6m | HK$30.9m | HK$7.4m | −HK$12.4m |
| Dividends paid | — | — | — | — | — | — | — | −HK$28.6m | — | — |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Dec 2023 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$15.1m | HK$24.6m | HK$21.7m | HK$4.1m | HK$23.4m | HK$22.4m | HK$26.2m | HK$25.5m |
| Operating income | −HK$844,000 | −HK$2.3m | −HK$4.9m | −HK$3.3m | HK$3.8m | HK$159,000 | −HK$3.1m | −HK$34.7m |
| Net income | HK$37.3m | −HK$5.9m | −HK$2.6m | −HK$9.1m | HK$2.3m | HK$636,000 | −HK$3.0m | −HK$27.2m |
| Diluted earnings per share | 0.11 | -0.02 | -0.01 | -0.03 | 0.01 | 0.00 | -0.01 | -0.08 |
| Total assets | HK$76.3m | HK$166.1m | HK$208.0m | HK$205.7m | HK$225.1m | HK$216.5m | — | HK$229.9m |
| Cash and short-term investments | HK$4.2m | HK$8.2m | HK$6.1m | HK$8.6m | HK$6.8m | HK$7.4m | — | HK$12.5m |
| Debt | HK$487,000 | HK$70.3m | HK$71.0m | HK$71.2m | HK$74.5m | HK$74.7m | — | HK$72.7m |
| Shareholders' equity | HK$17.3m | −HK$27.8m | −HK$18.8m | −HK$18.1m | −HK$15.6m | −HK$21.6m | — | −HK$13.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -47.7% | -36.3% | 40.9% |
| Operating income | -45.0% | -25.5% | -5.0% |
| Net income | -41.0% | -23.2% | -5.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -8.4% | -18.3% | -9.1% | -11.0% |
| Net margin | -14.4% | -19.2% | -9.9% | -14.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -6.0 | -4.3 | -3.4 | -2.2 | 6.5 | -4.4 | -3.1 | -3.0 | -4.2 | -4.2 |
| Price to sales | 1.1 | 0.5 | 1.2 | 0.3 | 0.7 | 0.3 | 0.2 | 1.8 | 1.4 | 5.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 21 Jun 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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