V 
0.46
—
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$922.6m
FY2016FY2025
Net income
HK$3.5m
FY2016FY2025
Free cash flow
HK$20.6m
FY2016FY2025
Shareholders' equity
HK$93.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$922.6m | HK$960.5m | HK$1.20bn | HK$1.73bn | HK$2.85bn | HK$2.25bn | HK$1.80bn | HK$1.86bn | HK$2.25bn | HK$1.80bn |
| Gross profit | HK$31.6m | HK$26.2m | HK$44.2m | −HK$23.6m | −HK$5.9m | HK$81.6m | HK$64.5m | HK$55.3m | HK$97.1m | HK$71.2m |
| Operating income | HK$8.5m | HK$3.7m | HK$12.3m | −HK$60.7m | −HK$43.8m | HK$40.3m | HK$24.5m | HK$13.2m | HK$57.9m | HK$38.8m |
| Net income | HK$3.5m | −HK$3.2m | HK$3.9m | −HK$68.5m | −HK$47.0m | HK$32.1m | HK$14.7m | HK$4.2m | HK$37.2m | HK$30.7m |
| Diluted earnings per share | 0.02 | -0.00 | 0.01 | -0.10 | -0.07 | 0.05 | 0.02 | 0.01 | 0.06 | 0.05 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$380.7m | HK$334.5m | HK$316.1m | HK$413.1m | HK$754.2m | HK$558.9m | HK$555.1m | HK$614.6m | HK$507.3m | HK$544.5m |
| Cash and short-term investments | HK$87.3m | HK$60.5m | HK$58.2m | HK$132.2m | HK$120.2m | HK$142.4m | HK$122.7m | HK$119.0m | HK$92.4m | HK$118.2m |
| Total liabilities | HK$287.3m | HK$246.9m | HK$246.8m | HK$385.9m | HK$650.7m | HK$390.1m | HK$417.2m | HK$475.6m | HK$363.4m | HK$433.3m |
| Debt | HK$153.7m | HK$151.2m | HK$117.5m | HK$223.1m | HK$308.7m | HK$63.0m | HK$151.4m | HK$304.7m | HK$161.3m | HK$126.6m |
| Shareholders' equity | HK$93.3m | HK$87.6m | HK$69.3m | HK$27.2m | HK$103.5m | HK$168.7m | HK$137.9m | HK$139.0m | HK$143.8m | HK$111.2m |
| Shares outstanding | 145m | 1,113m | 752m | 714m | 653m | 653m | 653m | 653m | 653m | 653m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$21.7m | −HK$59.4m | HK$43.5m | HK$95.1m | −HK$248.4m | HK$126.8m | HK$181.4m | −HK$103.0m | −HK$44.6m | −HK$30.1m |
| Capital spending | −HK$1.1m | −HK$231,000 | −HK$583,000 | −HK$187,000 | −HK$740,000 | −HK$172,000 | −HK$369,000 | −HK$3.1m | −HK$399,000 | −HK$662,000 |
| Free cash flow | HK$20.6m | −HK$59.6m | HK$42.9m | HK$94.9m | −HK$249.1m | HK$126.7m | HK$181.0m | −HK$106.1m | −HK$45.0m | −HK$30.8m |
| Dividends paid | — | — | — | — | −HK$22.8m | −HK$6.5m | −HK$13.1m | −HK$13.0m | −HK$18.4m | −HK$28.6m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$712.9m | HK$356.5m | HK$252.3m | HK$252.3m | HK$209.0m | HK$209.0m | HK$238.9m | HK$238.9m |
| Gross profit | HK$24.8m | HK$12.4m | HK$7.5m | HK$7.5m | HK$8.3m | HK$8.3m | HK$5.6m | HK$5.6m |
| Operating income | HK$6.8m | HK$3.4m | HK$1.8m | HK$1.8m | HK$2.5m | HK$2.5m | −HK$102,000 | −HK$102,000 |
| Net income | HK$2.1m | HK$1.1m | HK$1.2m | HK$1.2m | HK$550,500 | HK$550,500 | −HK$2.0m | −HK$2.0m |
| Diluted earnings per share | 0.01 | 0.01 | 0.01 | 0.01 | 0.00 | 0.00 | -0.00 | -0.00 |
| Cash from operations | — | — | HK$10.0m | HK$10.0m | — | — | −HK$15.0m | −HK$15.0m |
| Total assets | HK$477.5m | HK$477.5m | HK$380.7m | HK$380.7m | HK$294.3m | HK$294.3m | HK$334.5m | HK$334.5m |
| Cash and short-term investments | HK$50.3m | HK$30.8m | HK$87.3m | HK$75.7m | HK$36.1m | HK$36.1m | HK$60.5m | HK$60.5m |
| Debt | HK$204.2m | HK$204.2m | HK$153.7m | HK$153.7m | HK$105.8m | HK$105.8m | HK$151.2m | HK$151.2m |
| Shareholders' equity | HK$98.6m | HK$98.6m | HK$93.3m | HK$93.3m | HK$90.5m | HK$90.5m | HK$87.6m | HK$87.6m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -18.9% | -16.4% | -3.4% |
| Operating income | — | -26.8% | -7.7% |
| Net income | — | -35.9% | -12.0% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 3.1% | 1.6% | 1.6% | 2.6% |
| Operating margin | 0.6% | -0.8% | -0.4% | 0.6% |
| Net margin | 0.0% | -1.3% | -0.8% | 0.1% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | 15.1 | -192.1 | 140.6 | -12.6 | -42.6 | 61.4 | 113.4 | — | 98.4 | 108.3 |
| Price to sales | 0.1 | 0.6 | 0.5 | 0.5 | 0.7 | 0.9 | 0.9 | 1.2 | 1.6 | 1.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 10 Sept 2021.
| FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|
| Paid in the year | 0.35 | 0.10 | 0.20 | 0.20 | 0.30 | 0.15 |
- 10-to-1 reverse split · 22 May 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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