K 
0.08
+3.80%
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$969.9m
FY2016FY2025
Net income
−HK$47.5m
FY2016FY2025
Free cash flow
HK$21.0m
FY2016FY2025
Shareholders' equity
−HK$87.4m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$969.9m | HK$1.11bn | HK$298.9m | HK$266.7m | HK$156.6m | HK$36.0m | HK$138.6m | HK$146.1m | HK$90.7m | HK$35.2m |
| Operating income | −HK$59.0m | HK$35.9m | −HK$10.4m | HK$187,000 | −HK$73.4m | −HK$64.8m | −HK$335.1m | HK$8.2m | HK$73.4m | −HK$3.7m |
| Net income | −HK$47.5m | HK$8.9m | −HK$31.9m | −HK$15.2m | −HK$66.2m | −HK$60.3m | −HK$318.1m | HK$10.5m | HK$49.3m | −HK$13.4m |
| Diluted earnings per share | -0.08 | 0.02 | -0.05 | -0.03 | -0.11 | -0.10 | -0.55 | 0.02 | 0.09 | -0.04 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$512.6m | HK$741.0m | HK$526.1m | HK$531.7m | HK$368.4m | HK$353.8m | HK$340.9m | HK$665.9m | HK$562.4m | HK$306.5m |
| Cash and short-term investments | HK$60.0m | HK$106.8m | HK$49.7m | HK$48.4m | HK$56.4m | HK$60.6m | HK$80.0m | HK$154.9m | HK$139.9m | HK$139.1m |
| Total liabilities | HK$582.3m | HK$758.9m | HK$557.3m | HK$532.6m | HK$337.6m | HK$255.7m | HK$181.7m | HK$166.5m | HK$81.9m | HK$26.8m |
| Debt | HK$47.2m | HK$47.0m | HK$47.1m | HK$47.7m | HK$65.9m | HK$53.1m | HK$56.2m | HK$134.1m | HK$600,360 | HK$102.7m |
| Shareholders' equity | −HK$87.4m | −HK$39.0m | −HK$50.6m | −HK$17.0m | HK$11.8m | HK$75.2m | HK$125.3m | HK$454.0m | HK$439.1m | HK$287.2m |
| Shares outstanding | 583m | 577m | 583m | 563m | 577m | 577m | 577m | 577m | 577m | 376m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$33.8m | HK$127.1m | HK$13.2m | HK$34.7m | HK$9.4m | HK$45.2m | −HK$746,166 | −HK$57.9m | −HK$86.6m | −HK$58.0m |
| Capital spending | −HK$12.8m | −HK$67.4m | −HK$8.5m | −HK$37.4m | −HK$8.7m | −HK$39.1m | −HK$2.4m | −HK$9.1m | −HK$13.3m | −HK$160,788 |
| Free cash flow | HK$21.0m | HK$59.7m | HK$4.7m | −HK$2.7m | HK$707,000 | HK$6.1m | −HK$3.2m | −HK$67.0m | −HK$99.9m | −HK$58.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$360.4m | HK$180.2m | HK$639.2m | HK$319.6m | HK$165.4m | HK$165.4m | HK$305.3m | HK$305.3m |
| Operating income | HK$6.7m | HK$1.8m | −HK$1.8m | −HK$19.1m | −HK$10.3m | −HK$10.3m | HK$10.6m | HK$10.6m |
| Net income | −HK$6.8m | −HK$3.4m | −HK$23.0m | −HK$11.5m | −HK$12.2m | −HK$12.2m | HK$4.5m | HK$4.5m |
| Diluted earnings per share | -0.01 | -0.01 | -0.04 | -0.02 | -0.02 | -0.02 | 0.01 | 0.01 |
| Cash from operations | −HK$2.0m | −HK$2.0m | HK$34.0m | HK$34.0m | −HK$19.0m | −HK$19.0m | HK$17.0m | HK$17.0m |
| Capital spending | — | — | −HK$6.0m | −HK$6.0m | — | — | −HK$15.0m | −HK$15.0m |
| Free cash flow | — | — | HK$28.0m | HK$28.0m | — | — | HK$2.0m | HK$2.0m |
| Total assets | HK$523.2m | HK$523.2m | HK$512.6m | HK$512.6m | HK$745.0m | HK$745.0m | HK$741.0m | HK$741.0m |
| Cash and short-term investments | HK$59.4m | HK$212.3m | HK$60.0m | HK$88.2m | HK$36.2m | HK$346.2m | HK$106.8m | HK$106.8m |
| Debt | HK$47.0m | HK$47.0m | HK$47.3m | HK$49.5m | HK$46.9m | HK$46.8m | HK$47.0m | HK$46.9m |
| Shareholders' equity | −HK$94.7m | −HK$94.7m | −HK$87.4m | −HK$87.4m | −HK$63.7m | −HK$63.7m | −HK$39.0m | −HK$39.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 53.8% | 93.3% | 48.4% |
| Operating income | — | -1.9% | -6.8% |
| Net income | 46.1% | -4.7% | -6.3% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.1% | -1.3% | -6.0% | -16.7% |
| Net margin | -1.9% | -3.2% | -7.5% | -17.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.3 | 22.8 | -4.2 | -9.6 | -2.6 | -0.9 | -0.3 | 17.6 | 3.2 | -14.0 |
| Price to sales | 0.2 | 0.2 | 0.4 | 0.6 | 1.1 | 1.6 | 0.7 | 1.3 | 1.7 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 4 Jul 2019.
| FY2019 | |
|---|---|
| Paid in the year | 0.002 |
- 10-to-1 reverse split · 16 Feb 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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