Y 
0.15
+0.69%
Close of 5 Nov 2026, in HKD
At a glance
Figures in HKD, from our data supplier.
Revenue
HK$29.0m
FY2017FY2026
Net income
−HK$27.9m
FY2017FY2026
Free cash flow
HK$2.5m
FY2017FY2026
Shareholders' equity
−HK$29.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$29.0m | HK$30.3m | HK$33.9m | HK$37.4m | HK$36.1m | HK$36.1m | HK$37.1m | HK$44.9m | HK$45.4m | HK$44.5m |
| Gross profit | HK$19.6m | HK$23.2m | HK$26.2m | HK$28.7m | HK$27.9m | HK$27.8m | HK$28.4m | HK$35.0m | HK$36.1m | HK$35.5m |
| Operating income | −HK$23.7m | −HK$12.2m | −HK$10.4m | −HK$3.4m | −HK$4.5m | −HK$7.6m | −HK$12.6m | −HK$2.5m | −HK$914,000 | HK$14.8m |
| Net income | −HK$27.9m | −HK$16.9m | −HK$14.7m | −HK$6.7m | −HK$7.8m | −HK$9.1m | −HK$12.3m | −HK$2.8m | −HK$3.2m | HK$12.3m |
| Diluted earnings per share | -0.08 | -0.05 | -0.04 | -0.02 | -0.02 | -0.04 | -0.03 | -0.01 | -0.01 | 0.03 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$61.5m | HK$87.2m | HK$101.6m | HK$110.6m | HK$117.5m | HK$126.1m | HK$140.2m | HK$44.5m | HK$18.2m | HK$17.4m |
| Cash and short-term investments | HK$2.6m | HK$1.5m | HK$2.9m | HK$2.3m | HK$1.9m | HK$3.9m | HK$16.8m | HK$26.2m | HK$3.5m | HK$2.8m |
| Total liabilities | HK$90.6m | HK$97.9m | HK$95.0m | HK$89.2m | HK$97.1m | HK$98.2m | HK$103.7m | HK$3.2m | HK$16.1m | HK$10.1m |
| Debt | HK$81.1m | HK$91.7m | HK$92.2m | HK$86.9m | HK$94.7m | HK$89.8m | HK$99.4m | HK$16.0m | HK$10.0m | HK$5.0m |
| Shareholders' equity | −HK$29.2m | −HK$10.8m | HK$6.6m | HK$21.4m | HK$20.4m | HK$27.9m | HK$36.5m | HK$41.2m | HK$2.1m | HK$7.3m |
| Shares outstanding | 362m | 362m | 362m | 362m | 361m | 209m | 360m | 360m | 360m | 360m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$2.7m | HK$5.1m | HK$3.9m | HK$9.3m | HK$7.9m | HK$9.1m | −HK$6.7m | −HK$6.2m | −HK$2.8m | HK$13.7m |
| Capital spending | −HK$147,000 | −HK$128,000 | −HK$279,000 | −HK$51,000 | −HK$166,000 | −HK$295,000 | −HK$56.6m | −HK$3.4m | −HK$732,000 | −HK$46,000 |
| Free cash flow | HK$2.5m | HK$4.9m | HK$3.6m | HK$9.3m | HK$7.7m | HK$8.8m | −HK$63.3m | −HK$9.6m | −HK$3.5m | HK$13.6m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$2.0m | −HK$2.0m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$18.3m | HK$10.7m | HK$18.8m | HK$11.4m | HK$20.4m | HK$6.4m | HK$7.0m | HK$8.7m |
| Gross profit | HK$12.7m | HK$8.2m | HK$13.2m | HK$8.7m | HK$15.9m | HK$4.9m | HK$5.4m | HK$6.8m |
| Operating income | −HK$21.0m | −HK$2.9m | −HK$8.1m | −HK$4.1m | −HK$583,000 | −HK$2.3m | −HK$1.8m | −HK$3.0m |
| Net income | −HK$23.1m | −HK$4.8m | −HK$10.3m | −HK$6.6m | −HK$8.4m | −HK$3.4m | −HK$2.9m | −HK$3.7m |
| Diluted earnings per share | -0.06 | -0.01 | -0.03 | -0.02 | -0.02 | -0.01 | -0.01 | -0.01 |
| Cash from operations | HK$2.0m | — | HK$2.0m | — | HK$4.0m | HK$1.0m | — | HK$6.0m |
| Total assets | HK$61.5m | HK$85.6m | HK$87.2m | HK$100.6m | HK$101.6m | HK$107.2m | — | HK$110.6m |
| Cash and short-term investments | HK$2.6m | HK$1.4m | HK$1.5m | HK$2.4m | HK$2.9m | HK$1.1m | — | HK$2.3m |
| Debt | HK$80.9m | HK$90.4m | HK$91.7m | HK$96.2m | HK$92.2m | HK$88.3m | — | HK$86.9m |
| Shareholders' equity | −HK$29.2m | −HK$15.5m | −HK$10.8m | HK$13,000 | HK$6.6m | HK$14.5m | — | HK$21.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -8.2% | -4.3% | -3.8% |
| Operating income | 91.6% | 25.7% | — |
| Net income | 61.0% | 25.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 72.3% | 74.8% | 75.7% | 77.2% |
| Operating margin | -60.7% | -38.1% | -30.5% | -12.8% |
| Net margin | -75.5% | -50.6% | -41.0% | -19.4% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.9 | -2.0 | -3.3 | -9.0 | -8.7 | -5.6 | -5.4 | -24.5 | -27.8 |
| Price to sales | 1.8 | 1.1 | 1.4 | 1.6 | 1.9 | 1.4 | 1.8 | 1.5 | 1.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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