I 
0.56
+5.66%
Close of 2 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$19.9m
FY2017FY2026
Net income
−HK$36.7m
FY2017FY2026
Free cash flow
−HK$16.1m
FY2017FY2026
Shareholders' equity
−HK$81.4m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$19.9m | HK$32.2m | HK$31.4m | HK$30.3m | HK$53.7m | HK$63.7m | HK$98.1m | HK$119.2m | HK$118.8m | HK$94.7m |
| Operating income | −HK$22.1m | −HK$24.9m | −HK$7.7m | −HK$26.0m | −HK$29.4m | −HK$11.3m | HK$4.6m | −HK$2.3m | −HK$31.0m | −HK$55.1m |
| Net income | −HK$36.7m | −HK$42.2m | −HK$13.6m | −HK$117.6m | −HK$106.2m | −HK$61.9m | −HK$60.5m | −HK$105.5m | −HK$60.7m | −HK$85.4m |
| Diluted earnings per share | -0.13 | -0.15 | -0.06 | -0.05 | -0.05 | -0.03 | -0.03 | -0.05 | -0.04 | -0.06 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$91.2m | HK$89.9m | HK$143.4m | HK$185.4m | HK$343.6m | HK$390.9m | HK$558.6m | HK$650.7m | HK$780.7m | HK$560.3m |
| Cash and short-term investments | HK$30.6m | HK$29.5m | HK$47.6m | HK$66.2m | HK$85.5m | HK$106.9m | HK$110.5m | HK$110.5m | HK$86.2m | HK$61.9m |
| Total liabilities | HK$177.0m | HK$171.8m | HK$190.3m | HK$218.1m | HK$274.9m | HK$328.9m | HK$448.0m | HK$835.7m | HK$853.9m | HK$565.6m |
| Debt | HK$7.3m | HK$89.8m | HK$103.5m | HK$120.1m | HK$168.6m | HK$165.7m | HK$215.0m | HK$509.3m | HK$557.9m | HK$404.8m |
| Shareholders' equity | −HK$81.4m | −HK$78.2m | −HK$46.9m | −HK$32.7m | HK$68.7m | HK$62.0m | HK$110.6m | −HK$185.0m | −HK$73.2m | −HK$8.1m |
| Shares outstanding | 280m | 278m | 232m | 2,350m | 2,284m | 2,284m | 2,172m | 2,172m | 1,391m | 1,391m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$16.1m | −HK$21.0m | HK$12.6m | HK$36.3m | HK$449,000 | HK$78.3m | HK$26.0m | HK$55.1m | HK$238.5m | −HK$64.6m |
| Capital spending | — | −HK$2.4m | −HK$972,000 | −HK$88,000 | −HK$19.1m | −HK$3.2m | −HK$3.0m | −HK$11.7m | −HK$6.1m | −HK$6.2m |
| Free cash flow | −HK$16.1m | −HK$23.4m | HK$11.6m | HK$36.2m | −HK$18.6m | HK$75.1m | HK$23.0m | HK$43.4m | HK$232.4m | −HK$70.9m |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Sept 2024 | Jun 2024 | Mar 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$8.7m | HK$2.8m | HK$11.3m | HK$1.4m | HK$16.7m | HK$15.5m | HK$4.0m | HK$16.7m |
| Operating income | −HK$12.4m | −HK$3.1m | −HK$9.7m | −HK$6.8m | −HK$17.8m | −HK$10.9m | −HK$3.0m | −HK$14.9m |
| Net income | −HK$19.6m | −HK$10.1m | −HK$17.1m | −HK$8.6m | −HK$16.9m | −HK$10.8m | −HK$10.8m | −HK$5.0m |
| Diluted earnings per share | -0.07 | -0.04 | -0.06 | -0.03 | -0.06 | -0.05 | -0.05 | -0.02 |
| Cash from operations | — | — | −HK$2.0m | −HK$2.0m | −HK$13.0m | −HK$9.0m | −HK$4.0m | HK$4.0m |
| Capital spending | — | — | — | — | −HK$2.0m | — | — | — |
| Free cash flow | — | — | — | — | −HK$15.0m | — | — | — |
| Total assets | HK$91.2m | HK$91.2m | HK$89.3m | HK$89.3m | HK$89.9m | HK$121.2m | HK$121.2m | HK$143.4m |
| Cash and short-term investments | HK$30.6m | — | HK$28.8m | — | HK$29.5m | HK$58.1m | HK$58.1m | HK$47.6m |
| Debt | HK$5.2m | — | HK$102.7m | — | HK$89.8m | HK$108.4m | — | HK$103.5m |
| Shareholders' equity | −HK$81.4m | −HK$81.4m | −HK$92.9m | −HK$92.9m | −HK$78.2m | −HK$64.6m | −HK$64.6m | −HK$46.9m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.0% | -20.7% | -16.5% |
| Operating income | -5.3% | 14.4% | -7.3% |
| Net income | -32.2% | -9.9% | -10.8% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -90.0% | -70.9% | -52.5% | -32.2% |
| Net margin | -151.4% | -184.7% | -163.6% | -102.9% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.3 | -8.2 | -6.4 | -13.4 | -30.5 | -144.5 | -39.1 | -30.7 | -42.6 | -83.6 |
| Price to sales | 7.9 | 10.7 | 2.8 | 52.0 | 60.3 | 140.4 | 24.1 | 27.2 | 21.8 | 75.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Jul 2011.
| FY2012 | |
|---|---|
| Paid in the year | 0.125 |
- 10-to-1 reverse split · 29 Nov 2024
- 2-for-1 split · 27 Jul 2015
- 2-to-1 reverse split · 14 Feb 2014
- 2-to-1 reverse split · 26 Jun 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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