H 
0.10
+3.00%
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$101.7m
FY2016FY2025
Net income
−HK$138.4m
FY2016FY2025
Free cash flow
HK$18.5m
FY2016FY2025
Shareholders' equity
HK$65.8m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$101.7m | HK$314.4m | HK$481.8m | HK$402.3m | HK$404.3m | HK$330.2m | HK$396.7m | HK$406.9m | HK$491.4m | HK$457.9m |
| Gross profit | HK$3.0m | HK$33.9m | HK$84.0m | HK$76.3m | HK$76.2m | HK$55.3m | HK$84.1m | HK$85.7m | HK$107.7m | HK$112.1m |
| Research and development | — | — | — | HK$497,000 | HK$3,071 | HK$1,850 | HK$437 | HK$454,000 | HK$444,000 | HK$1.2m |
| Operating income | −HK$90.7m | −HK$49.7m | HK$19.3m | HK$23.5m | HK$22.7m | HK$11.4m | HK$48.4m | HK$41.0m | HK$49.8m | HK$65.6m |
| Net income | −HK$138.4m | −HK$46.3m | HK$1.5m | HK$8.3m | −HK$34.8m | −HK$70.2m | HK$25.3m | −HK$59.6m | HK$30.3m | HK$40.5m |
| Diluted earnings per share | -2.23 | -0.88 | 0.03 | 0.16 | -0.81 | -0.08 | 0.61 | -1.43 | 0.73 | 0.97 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$575.5m | HK$744.5m | HK$774.3m | HK$745.2m | HK$773.1m | HK$716.1m | HK$762.3m | HK$722.9m | HK$852.8m | HK$754.0m |
| Cash and short-term investments | HK$11.9m | HK$19.0m | HK$7.8m | HK$2.5m | HK$11.4m | HK$17.5m | HK$69.7m | HK$6.2m | HK$27.5m | HK$12.0m |
| Total liabilities | HK$509.7m | HK$551.8m | HK$522.9m | HK$490.8m | HK$496.1m | HK$429.9m | HK$429.1m | HK$405.1m | HK$452.5m | HK$410.9m |
| Debt | HK$374.2m | HK$391.7m | HK$371.7m | HK$332.4m | HK$370.2m | HK$325.9m | HK$338.1m | HK$302.4m | HK$355.3m | HK$329.6m |
| Shareholders' equity | HK$65.8m | HK$192.7m | HK$251.4m | HK$254.5m | HK$277.0m | HK$286.2m | HK$333.1m | HK$317.8m | HK$400.3m | HK$343.1m |
| Shares outstanding | 62m | 53m | 53m | 53m | 43m | 833m | 42m | 42m | 42m | 42m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$20.1m | HK$423,000 | −HK$45.5m | HK$74.3m | HK$59.1m | HK$41.5m | HK$47.6m | HK$67.4m | HK$80.0m | HK$132.7m |
| Capital spending | −HK$1.6m | −HK$17.4m | −HK$3.8m | −HK$42.8m | −HK$87.6m | −HK$40.6m | −HK$4.1m | −HK$17.7m | −HK$75.1m | −HK$187.1m |
| Free cash flow | HK$18.5m | −HK$17.0m | −HK$49.3m | HK$31.5m | −HK$28.5m | HK$885,000 | HK$43.5m | HK$49.7m | HK$4.9m | −HK$54.4m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$41.0m | HK$20.5m | HK$25.9m | HK$25.9m | HK$24.9m | HK$24.9m | HK$145.7m | HK$72.9m |
| Gross profit | HK$1.9m | HK$935,000 | HK$6.3m | HK$6.3m | −HK$4.8m | −HK$4.8m | HK$5.0m | HK$2.5m |
| Operating income | −HK$34.7m | −HK$17.4m | −HK$17.8m | −HK$17.8m | −HK$27.6m | −HK$27.6m | −HK$54.1m | −HK$33.5m |
| Net income | HK$15.8m | HK$7.9m | −HK$39.6m | −HK$39.6m | −HK$29.6m | −HK$29.6m | −HK$57.1m | −HK$28.5m |
| Diluted earnings per share | 0.22 | 0.11 | -0.64 | -0.64 | -0.48 | -0.48 | -1.08 | -0.54 |
| Cash from operations | — | — | HK$17.0m | HK$17.0m | −HK$3.0m | −HK$3.0m | −HK$1.0m | −HK$1.0m |
| Capital spending | — | — | — | — | — | — | −HK$8.0m | −HK$8.0m |
| Free cash flow | — | — | — | — | — | — | −HK$9.0m | −HK$9.0m |
| Total assets | HK$558.9m | HK$558.9m | HK$575.5m | HK$575.5m | HK$690.8m | HK$690.8m | HK$744.5m | HK$744.5m |
| Cash and short-term investments | HK$13.9m | HK$106.9m | HK$11.9m | HK$831,000 | HK$560,000 | HK$560,000 | HK$19.0m | HK$8.4m |
| Debt | HK$60.3m | HK$60.3m | HK$374.2m | HK$66.0m | HK$369.0m | HK$165.7m | HK$420.0m | HK$197.4m |
| Shareholders' equity | HK$91.6m | HK$91.6m | HK$65.8m | HK$65.8m | HK$213.0m | HK$213.0m | HK$192.7m | HK$192.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -36.8% | -21.0% | -12.8% |
| Net income | — | 14.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 8.9% | 15.2% | 16.2% | 19.4% |
| Operating margin | -33.7% | -7.5% | -3.1% | 4.7% |
| Net margin | -44.4% | -13.5% | -13.8% | -5.2% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.1 | -0.2 | 9.0 | 3.2 | -1.5 | -38.4 | 7.0 | -3.0 | 8.9 | 9.1 |
| Price to sales | 0.1 | 0.0 | 0.0 | 0.1 | 0.1 | 8.2 | 0.4 | 0.4 | 0.6 | 0.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 20-to-1 reverse split · 13 Jan 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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