C 
0.75
0.00%
Close of 9 Nov 2026, in HKD
Search any instrument
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$47.2m
FY2016FY2025
Net income
−HK$89.2m
FY2016FY2025
Free cash flow
−HK$42.7m
FY2016FY2025
Shareholders' equity
HK$177.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$47.2m | HK$58.1m | HK$25.2m | HK$29.6m | HK$8.7m | HK$383.0m | HK$64.6m | HK$48.8m | HK$60.3m |
| Research and development | HK$30.7m | HK$8.6m | — | — | — | — | — | — | — |
| Operating income | −HK$91.7m | −HK$13.1m | −HK$25.3m | −HK$13.9m | −HK$27.2m | −HK$40.4m | −HK$36.9m | −HK$23.9m | −HK$11.4m |
| Net income | −HK$89.2m | −HK$13.0m | −HK$30.5m | −HK$56.9m | −HK$286.7m | −HK$46.8m | −HK$34.8m | −HK$17.9m | −HK$2.3m |
| Diluted earnings per share | -0.12 | -0.02 | -0.06 | -0.10 | -0.52 | -0.15 | -0.11 | -0.06 | -0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$205.8m | HK$69.4m | HK$70.1m | HK$109.7m | HK$165.5m | HK$454.5m | HK$411.9m | HK$429.6m | HK$439.9m |
| Cash and short-term investments | HK$84.9m | HK$2.1m | HK$3.3m | HK$9.5m | HK$35.8m | HK$44.3m | HK$95.0m | HK$258.3m | HK$383.2m |
| Total liabilities | HK$28.4m | HK$32.6m | HK$20.3m | HK$32.8m | HK$28.5m | HK$44.8m | HK$69.2m | HK$34.6m | HK$27.4m |
| Debt | HK$7.2m | HK$10.2m | HK$5.7m | HK$3.4m | HK$8.6m | HK$7.1m | HK$15.8m | — | HK$1.4m |
| Shareholders' equity | HK$177.4m | HK$36.8m | HK$49.9m | HK$77.2m | HK$137.2m | HK$318.7m | HK$329.9m | HK$388.4m | HK$404.6m |
| Shares outstanding | 718m | 548m | 548m | 548m | 548m | 316m | 316m | 316m | 316m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$37.7m | −HK$6.3m | −HK$16.8m | HK$4.3m | −HK$2.7m | −HK$37.5m | −HK$12.4m | −HK$35.7m | −HK$1.6m |
| Capital spending | −HK$5.0m | −HK$1.6m | −HK$20.5m | −HK$61,000 | −HK$21.3m | −HK$125.5m | −HK$178.3m | −HK$231,000 | −HK$78,000 |
| Free cash flow | −HK$42.7m | −HK$7.9m | −HK$37.3m | HK$4.3m | −HK$24.0m | −HK$162.9m | −HK$190.6m | −HK$35.9m | −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$21.2m | HK$21.3m | HK$10.7m | HK$12.9m | HK$12.9m | HK$13.9m | HK$13.9m | HK$15.1m |
| Operating income | −HK$57.4m | −HK$57.6m | −HK$13.9m | −HK$17.1m | −HK$17.1m | −HK$5.3m | −HK$5.3m | −HK$1.3m |
| Net income | −HK$54.0m | −HK$56.4m | −HK$28.2m | −HK$16.4m | −HK$16.4m | −HK$5.1m | −HK$5.1m | −HK$1.4m |
| Diluted earnings per share | -0.08 | -0.08 | -0.04 | -0.02 | -0.02 | -0.01 | -0.01 | -0.00 |
| Cash from operations | −HK$42.0m | −HK$5.0m | −HK$3.0m | −HK$15.0m | −HK$15.0m | −HK$5.0m | −HK$5.0m | HK$2.0m |
| Capital spending | — | −HK$1.0m | — | −HK$1.0m | −HK$1.0m | — | — | — |
| Free cash flow | — | −HK$6.0m | — | −HK$16.0m | −HK$16.0m | — | — | — |
| Total assets | HK$163.0m | HK$205.8m | HK$205.8m | HK$80.2m | HK$80.2m | HK$69.4m | HK$69.4m | HK$77.8m |
| Cash and short-term investments | HK$16.9m | HK$84.9m | HK$81.4m | HK$3.5m | HK$3.5m | HK$2.1m | HK$2.1m | HK$3.1m |
| Debt | HK$5.8m | HK$7.2m | HK$4.4m | HK$8.2m | HK$6.5m | HK$10.2m | HK$6.4m | HK$12.2m |
| Shareholders' equity | HK$136.0m | HK$177.4m | HK$177.4m | HK$54.1m | HK$54.1m | HK$36.8m | HK$36.8m | HK$47.0m |
Financial ratios
Data as of 4 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2008 | FY2007 | FY2006 | FY2002 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | -194.2% | -21.1% | -100.3% | -46.9% | -314.0% | -10.4% | — | — | — | — |
| Net margin | -188.9% | -22.5% | -121.3% | -192.5% | -3312.4% | -12.2% | — | — | — | — |
| Return on equity | -50.3% | -35.4% | -61.2% | -73.7% | -208.9% | -14.7% | — | — | — | — |
| Return on assets | -43.4% | -18.8% | -43.6% | -51.9% | -173.2% | -10.3% | — | — | — | — |
| Free cash flow yield | -5.8% | -1.1% | 0.9% | 1.0% | 4.3% | 35.3% | — | — | — | — |
| Revenue growth | -18.7% | 130.7% | -14.8% | 241.4% | -97.7% | 493.2% | — | — | — | — |
| Earnings growth | 583.8% | -57.3% | -46.3% | -80.2% | 513.0% | 39.1% | — | — | — | — |
| Current ratio | 4.63x | 1.26x | 2.56x | 2.26x | 4.45x | 3.26x | — | — | — | — |
| Debt to equity | 0.02x | 0.17x | 0.04x | 0.04x | 0.04x | 0.01x | — | — | — | — |
| Equity ratio | 86.2% | 53.1% | 71.1% | 70.4% | 82.9% | 70.1% | — | — | — | — |
| Interest coverage | -165.87x | -17.62x | -44.41x | -40.53x | -182.41x | -89.08x | — | — | — | — |
| R&D as a share of sales | 64.9% | 14.8% | — | — | — | — | 0.5% | 1.0% | 0.9% | 0.2% |
| Buybacks as a share of market value | -30.9% | -0.0% | -0.0% | -0.0% | -73.6% | 0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 16.9% | -34.2% | -1.9% |
| Operating income | 87.7% | 17.8% | 9.3% |
| Net income | 16.2% | 13.8% | 9.5% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -99.5% | -89.9% | -38.3% | -46.5% |
| Net margin | -97.1% | -118.5% | -94.8% | -80.9% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -21.1 | -10.5 | -3.6 | -5.1 | -0.8 | -4.7 | -9.1 | -11.7 | -35.9 | -466.3 |
| Price to sales | 39.8 | 2.4 | 4.4 | 9.8 | 27.6 | 0.6 | 4.9 | 45.5 | 13.2 | 17.8 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 28 May 2020
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
Nothing here is investment advice. Prices can be delayed or wrong, so check with the exchange before relying on them. Data for this page. How we cover markets.