S 
0.13
+21.10%
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$37.4m
FY2017FY2025
Net income
−HK$22.3m
FY2017FY2025
Free cash flow
HK$1.6m
FY2017FY2025
Shareholders' equity
−HK$130.7m
FY2017FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$37.4m | HK$99.4m | HK$162.5m | HK$171.9m | HK$187.9m | HK$188.1m | HK$251.8m | HK$305.5m | HK$336.4m |
| Gross profit | HK$16.1m | HK$48.2m | HK$87.0m | HK$95.3m | HK$108.3m | HK$116.3m | HK$164.5m | HK$202.5m | HK$223.4m |
| Operating income | −HK$17.2m | −HK$12.0m | −HK$9.4m | −HK$15.4m | HK$8.6m | −HK$16.9m | −HK$68.7m | −HK$29.6m | −HK$45.3m |
| Net income | −HK$22.3m | −HK$16.2m | −HK$12.4m | −HK$19.8m | HK$2.5m | −HK$23.0m | −HK$75.9m | −HK$37.7m | −HK$47.3m |
| Diluted earnings per share | -0.04 | -0.03 | -0.02 | -0.04 | 0.00 | -0.04 | -0.15 | -0.07 | -0.10 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$46.3m | HK$54.5m | HK$72.7m | HK$115.1m | HK$129.8m | HK$152.3m | HK$169.5m | HK$228.5m | HK$168.6m |
| Cash and short-term investments | HK$24.4m | HK$21.2m | HK$31.4m | HK$61.5m | HK$72.4m | HK$82.6m | HK$122.2m | HK$108.1m | HK$22.2m |
| Total liabilities | HK$177.0m | HK$187.8m | HK$191.5m | HK$221.5m | HK$214.4m | HK$240.4m | HK$234.9m | HK$217.8m | HK$217.4m |
| Debt | HK$139.1m | HK$156.2m | HK$166.2m | HK$190.4m | HK$125.6m | HK$181.1m | HK$191.0m | HK$116.7m | HK$163.2m |
| Shareholders' equity | −HK$130.7m | −HK$133.2m | −HK$116.8m | −HK$105.2m | −HK$84.6m | −HK$87.8m | −HK$62.1m | HK$13.2m | −HK$47.4m |
| Shares outstanding | 555m | 535m | 521m | 521m | 521m | 521m | 521m | 521m | 490m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$1.6m | HK$11.8m | HK$13.3m | HK$10.5m | HK$30.3m | HK$11.3m | −HK$12.7m | −HK$5.0m | −HK$14.1m |
| Capital spending | −HK$13,000 | −HK$3.5m | −HK$1.7m | −HK$4.5m | −HK$5.0m | −HK$4.2m | −HK$4.0m | −HK$6.0m | −HK$28.6m |
| Free cash flow | HK$1.6m | HK$8.3m | HK$11.6m | HK$6.0m | HK$25.3m | HK$7.1m | −HK$16.6m | −HK$11.0m | −HK$42.8m |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$4.1m | HK$2.1m | HK$10.9m | HK$5.5m | HK$15.0m | HK$7.5m | HK$11.2m | HK$11.2m |
| Gross profit | HK$1.8m | HK$661,000 | HK$2.1m | HK$2.2m | HK$6.4m | HK$2.7m | HK$4.9m | HK$4.9m |
| Operating income | −HK$10.2m | −HK$6.6m | −HK$6.7m | −HK$3.3m | −HK$4.3m | −HK$3.8m | −HK$4.8m | −HK$4.8m |
| Net income | −HK$15.7m | −HK$7.9m | −HK$10.3m | −HK$5.2m | −HK$10.9m | −HK$5.5m | −HK$5.7m | −HK$5.7m |
| Diluted earnings per share | -0.03 | -0.01 | -0.02 | -0.01 | -0.02 | -0.01 | -0.01 | -0.01 |
| Cash from operations | — | — | −HK$4.0m | −HK$4.0m | HK$2.0m | HK$2.0m | −HK$1.0m | −HK$1.0m |
| Total assets | HK$18.9m | HK$18.9m | HK$35.9m | HK$35.9m | HK$46.3m | HK$46.3m | HK$48.5m | HK$48.5m |
| Cash and short-term investments | HK$8.5m | HK$8.5m | HK$13.7m | HK$13.7m | HK$24.4m | HK$24.4m | HK$18.3m | HK$18.3m |
| Debt | HK$105.3m | HK$105.3m | HK$140.3m | HK$108.2m | HK$139.1m | HK$109.3m | HK$151.6m | HK$111.0m |
| Shareholders' equity | −HK$157.2m | −HK$157.2m | −HK$141.1m | −HK$141.1m | −HK$130.7m | −HK$130.7m | −HK$144.7m | −HK$144.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -54.8% | -39.6% | -28.7% |
| Operating income | 21.5% | — | -5.1% |
| Net income | 28.1% | — | -3.9% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 42.6% | 50.1% | 53.6% | 62.1% |
| Operating margin | -64.8% | -17.6% | -9.2% | -11.4% |
| Net margin | -92.2% | -24.5% | -14.0% | -14.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.7 | -7.2 | -12.9 | -17.9 | -11.6 | 51.2 | -7.8 | -1.6 | -4.6 | -2.7 |
| Price to sales | 4.7 | 4.3 | 2.1 | 1.4 | 1.3 | 0.7 | 0.9 | 0.5 | 0.6 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 8-to-1 reverse split · 11 Jan 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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