C 
0.51
—
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$111.9m
FY2017FY2026
Net income
−HK$33.9m
FY2017FY2026
Free cash flow
−HK$63.2m
FY2017FY2026
Shareholders' equity
HK$62.0m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$111.9m | HK$164.5m | HK$87.6m | HK$55.8m | HK$57.7m | HK$66.8m | HK$42.8m | HK$28.1m | HK$33.1m | HK$54.5m |
| Operating income | −HK$20.3m | −HK$23.2m | −HK$13.3m | −HK$27.0m | −HK$21.0m | −HK$19.7m | −HK$20.0m | −HK$24.4m | −HK$31.3m | −HK$35.6m |
| Net income | −HK$33.9m | −HK$21.7m | −HK$9.8m | −HK$24.6m | −HK$21.1m | −HK$19.4m | −HK$28.1m | −HK$20.1m | −HK$28.1m | −HK$35.0m |
| Diluted earnings per share | -0.19 | -0.12 | -0.22 | -0.20 | -0.13 | -0.62 | -0.43 | -0.35 | -0.59 | -0.79 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$81.6m | HK$111.7m | HK$90.7m | HK$84.4m | HK$102.2m | HK$119.9m | HK$114.3m | HK$116.1m | HK$124.2m | HK$150.8m |
| Cash and short-term investments | HK$4.7m | HK$43.2m | HK$45.7m | HK$5.9m | HK$6.2m | HK$16.7m | HK$10.7m | HK$27.0m | HK$41.6m | HK$60.0m |
| Total liabilities | HK$19.6m | HK$52.6m | HK$17.2m | HK$36.4m | HK$29.8m | HK$26.4m | HK$31.3m | HK$11.7m | HK$13.4m | HK$12.3m |
| Debt | HK$3.0m | — | HK$1.9m | HK$9.4m | HK$15.4m | HK$13.6m | HK$20.4m | — | HK$6.8m | HK$7.1m |
| Shareholders' equity | HK$62.0m | HK$59.2m | HK$73.5m | HK$48.0m | HK$72.4m | HK$93.5m | HK$83.0m | HK$104.4m | HK$110.8m | HK$138.6m |
| Shares outstanding | 181m | 186m | 45m | 126m | 157m | 31m | 66m | 57m | 48m | 44m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$63.2m | −HK$34.0m | −HK$17.6m | −HK$1.3m | −HK$3.6m | HK$1.1m | HK$2.3m | −HK$15.4m | −HK$1.8m | −HK$37.5m |
| Capital spending | — | −HK$1.1m | −HK$404,000 | −HK$9,000 | −HK$657,000 | −HK$18.1m | −HK$17.4m | −HK$5.5m | −HK$2.4m | −HK$1.0m |
| Free cash flow | −HK$63.2m | −HK$35.1m | −HK$18.0m | −HK$1.3m | −HK$4.2m | −HK$17.0m | −HK$15.1m | −HK$20.9m | −HK$4.3m | −HK$38.5m |
Latest quarters
By quarter end
| Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$55.4m | HK$27.7m | HK$134.5m | HK$67.2m | HK$15.0m | HK$15.0m | HK$29.1m | HK$29.1m |
| Operating income | −HK$9.3m | −HK$4.7m | −HK$18.0m | −HK$9.0m | −HK$2.6m | −HK$2.6m | −HK$6.5m | −HK$3.2m |
| Net income | −HK$9.3m | −HK$4.7m | −HK$16.2m | −HK$8.1m | −HK$2.7m | −HK$2.7m | −HK$1.8m | −HK$1.8m |
| Diluted earnings per share | -0.05 | -0.03 | -0.09 | -0.18 | -0.06 | -0.06 | -0.04 | -0.01 |
| Cash from operations | −HK$21.0m | −HK$21.0m | −HK$8.0m | −HK$4.0m | −HK$25.0m | −HK$12.0m | −HK$10.0m | −HK$10.0m |
| Capital spending | — | — | — | — | −HK$2.0m | −HK$1.0m | — | — |
| Free cash flow | — | — | — | — | −HK$27.0m | −HK$13.0m | — | — |
| Total assets | HK$108.2m | HK$108.2m | HK$111.7m | HK$111.7m | HK$102.3m | HK$102.3m | HK$90.7m | HK$90.7m |
| Cash and short-term investments | HK$11.1m | HK$19.2m | HK$43.2m | HK$47.3m | HK$26.2m | HK$26.2m | HK$46.7m | HK$46.7m |
| Debt | — | — | — | — | HK$962,000 | HK$962,000 | HK$1.9m | HK$1.9m |
| Shareholders' equity | HK$86.5m | HK$86.5m | HK$59.2m | HK$59.2m | HK$75.4m | HK$75.4m | HK$73.5m | HK$73.5m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 26.1% | 10.9% | 1.0% |
| Operating income | -9.1% | 0.6% | 12.9% |
| Net income | 11.3% | 11.8% | 13.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -15.7% | -20.0% | -22.9% | -30.1% |
| Net margin | -20.1% | -21.4% | -24.0% | -31.2% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.0 | -5.1 | -1.3 | -6.1 | -9.2 | -5.5 | -3.5 | -5.4 | -2.7 | -6.5 |
| Price to sales | 0.9 | 0.7 | 0.1 | 2.7 | 3.3 | 1.6 | 2.3 | 3.8 | 2.3 | 4.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-to-1 reverse split · 19 Feb 2025
- 5-to-1 reverse split · 3 Nov 2023
- 10-to-1 reverse split · 18 Nov 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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