S 
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$29.6m
FY2016FY2025
Net income
−HK$11.6m
FY2016FY2025
Free cash flow
−HK$9.3m
FY2016FY2025
Shareholders' equity
−HK$75.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$29.6m | HK$29.9m | HK$15.1m | HK$4.0m | HK$18.5m | HK$22.8m | HK$88.2m | HK$63.7m | HK$78.8m | HK$61.5m |
| Research and development | — | — | HK$600,000 | HK$800,000 | HK$3.1m | HK$3.0m | HK$25.4m | — | — | — |
| Operating income | HK$8.4m | HK$781,000 | −HK$7.9m | −HK$10.3m | −HK$9.3m | −HK$123.1m | −HK$161.5m | −HK$129.2m | −HK$99.4m | −HK$43.0m |
| Net income | −HK$11.6m | −HK$10.2m | −HK$27.8m | −HK$13.7m | −HK$36.9m | −HK$109.6m | −HK$168.4m | −HK$132.3m | −HK$99.1m | −HK$44.9m |
| Diluted earnings per share | -0.02 | -0.02 | -0.05 | -0.03 | -0.07 | -0.22 | -0.33 | -0.36 | -0.27 | -0.12 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$44.5m | HK$26.3m | HK$27.6m | HK$22.2m | HK$46.0m | HK$141.2m | HK$206.3m | HK$258.8m | HK$383.3m | HK$318.6m |
| Cash and short-term investments | HK$8.3m | HK$15.5m | HK$12.0m | HK$14.4m | HK$20.8m | HK$58.0m | HK$32.7m | HK$43.6m | HK$178.1m | HK$159.3m |
| Total liabilities | HK$214.2m | HK$188.3m | HK$172.3m | HK$222.6m | HK$211.2m | HK$259.8m | HK$179.2m | HK$72.3m | HK$65.5m | HK$58.3m |
| Debt | HK$162.8m | HK$147.0m | HK$138.4m | HK$139.5m | HK$133.9m | HK$167.9m | HK$79.2m | HK$53,000 | HK$97.6m | HK$7.1m |
| Shareholders' equity | −HK$75.8m | −HK$77.3m | −HK$68.4m | −HK$72.3m | −HK$54.3m | −HK$24.6m | HK$20.4m | HK$181.0m | HK$315.6m | HK$260.0m |
| Shares outstanding | 705m | 607m | 616m | 506m | 506m | 506m | 506m | 367m | 367m | 367m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$8.9m | HK$4.9m | −HK$10.0m | −HK$20.0m | −HK$26.8m | −HK$48.3m | −HK$44.9m | −HK$121.7m | −HK$97.3m | −HK$36.5m |
| Capital spending | −HK$368,000 | −HK$1.8m | — | — | −HK$493,000 | −HK$849,000 | −HK$7.7m | −HK$11.1m | −HK$18.7m | −HK$23.3m |
| Free cash flow | −HK$9.3m | HK$3.1m | −HK$10.0m | −HK$20.0m | −HK$27.3m | −HK$49.1m | −HK$52.6m | −HK$132.9m | −HK$116.0m | −HK$59.8m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −HK$1.7m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$8.2m | HK$12.2m | HK$12.2m | HK$2.6m | HK$2.6m | HK$13.5m | HK$13.5m | HK$1.5m |
| Operating income | HK$110,000 | HK$4.4m | HK$4.4m | −HK$196,000 | −HK$196,000 | HK$2.0m | HK$2.0m | −HK$1.6m |
| Net income | −HK$3.4m | −HK$2.9m | −HK$2.9m | −HK$2.9m | −HK$2.9m | −HK$891,000 | −HK$891,000 | −HK$4.2m |
| Diluted earnings per share | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.00 | -0.01 |
| Cash from operations | — | −HK$3.0m | −HK$3.0m | — | — | HK$1.0m | HK$1.0m | HK$1.0m |
| Total assets | HK$22.5m | HK$44.5m | HK$44.5m | HK$21.0m | HK$21.0m | HK$26.3m | HK$26.3m | HK$17.6m |
| Cash and short-term investments | HK$4.3m | HK$8.3m | HK$9.1m | HK$11.0m | HK$12.5m | HK$15.5m | HK$17.3m | HK$11.5m |
| Debt | — | HK$162.8m | HK$162.5m | HK$150.9m | HK$159.1m | HK$147.0m | HK$7.2m | HK$135.3m |
| Shareholders' equity | −HK$80.6m | −HK$75.8m | −HK$75.8m | −HK$77.3m | −HK$77.3m | −HK$77.3m | −HK$77.3m | −HK$79.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 95.5% | 5.4% | -4.5% |
| Net income | -5.4% | -36.2% | -12.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 15.4% | -11.5% | -118.1% | -133.4% |
| Net margin | -36.6% | -80.5% | -175.1% | -151.8% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -4.9 | -7.0 | -5.5 | -8.1 | -3.0 | -2.3 | -4.8 | -9.3 | -26.6 | -42.7 |
| Price to sales | 1.9 | 2.4 | 10.2 | 28.1 | 6.1 | 11.2 | 9.3 | 19.2 | 33.4 | 31.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 100-to-1 reverse split · 13 May 2014
- 10-to-1 reverse split · 6 Jun 2008
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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