A 
1.23
+0.82%
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$760.5m
FY2016FY2025
Net income
−HK$39.7m
FY2016FY2025
Free cash flow
HK$5.43bn
FY2016FY2025
Shareholders' equity
HK$2.57bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$760.5m | HK$615.0m | HK$613.3m | HK$351.4m | HK$253.2m | HK$161.6m | HK$175.1m | HK$168.6m | HK$302.2m | HK$251.5m |
| Research and development | — | — | — | — | HK$507,000 | HK$2.0m | HK$1.7m | — | — | HK$13.5m |
| Operating income | HK$42.5m | −HK$71.8m | −HK$35.8m | −HK$129.7m | −HK$96.1m | −HK$131.1m | −HK$194.9m | −HK$262.0m | −HK$242.6m | −HK$267.6m |
| Net income | −HK$39.7m | −HK$90.4m | HK$25.5m | −HK$126.7m | −HK$63.6m | −HK$121.4m | −HK$123.9m | HK$315.2m | −HK$365.7m | HK$333.0m |
| Diluted earnings per share | -0.00 | -0.01 | 0.00 | -0.01 | -0.01 | -0.01 | -0.01 | 0.03 | -0.03 | 0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$11.89bn | HK$6.24bn | HK$3.73bn | HK$6.42bn | HK$3.08bn | HK$3.15bn | HK$3.25bn | HK$3.72bn | HK$3.99bn | HK$4.03bn |
| Cash and short-term investments | HK$6.51bn | HK$2.60bn | HK$1.37bn | HK$4.02bn | HK$1.64bn | HK$1.70bn | HK$1.90bn | HK$2.38bn | HK$2.62bn | HK$2.77bn |
| Total liabilities | HK$9.12bn | HK$3.48bn | HK$1.08bn | HK$3.76bn | HK$195.5m | HK$205.1m | HK$239.5m | HK$688.8m | HK$1.28bn | HK$1.73bn |
| Debt | HK$64.5m | HK$74.6m | HK$65.1m | HK$70.1m | HK$30.2m | HK$55.4m | HK$785.6m | HK$418.8m | HK$900.2m | HK$1.37bn |
| Shareholders' equity | HK$2.57bn | HK$2.55bn | HK$2.65bn | HK$2.63bn | HK$2.84bn | HK$2.90bn | HK$2.98bn | HK$2.98bn | HK$2.66bn | HK$2.27bn |
| Shares outstanding | 11,325m | 11,221m | 11,477m | 11,415m | 11,672m | 11,672m | 11,672m | 11,672m | 11,672m | 11,672m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$5.46bn | HK$1.17bn | −HK$2.51bn | HK$2.75bn | −HK$26.1m | −HK$93.8m | −HK$187.7m | −HK$204.2m | −HK$75.4m | −HK$107.1m |
| Capital spending | −HK$24.7m | −HK$23.9m | −HK$9.3m | −HK$30.1m | −HK$2.5m | −HK$4.8m | −HK$1.8m | −HK$5.2m | −HK$2.0m | −HK$1.4m |
| Free cash flow | HK$5.43bn | HK$1.15bn | −HK$2.52bn | HK$2.72bn | −HK$28.7m | −HK$98.6m | −HK$189.4m | −HK$209.4m | −HK$77.4m | −HK$108.5m |
| Dividends paid | — | — | — | — | — | — | — | — | −HK$173.5m | — |
Financial ratios
Data as of 25 Oct 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2016 | FY2015 | FY2014 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating margin | 5.6% | -10.7% | -5.6% | -29.7% | -25.4% | -61.1% | — | — | — | — |
| Net margin | -5.2% | -14.7% | 4.2% | -36.1% | -25.1% | -75.1% | — | — | — | — |
| Return on equity | -1.5% | -3.5% | 1.0% | -4.8% | -2.2% | -4.2% | — | — | — | — |
| Return on assets | -0.3% | -1.4% | 0.7% | -2.0% | -2.1% | -3.9% | — | — | — | — |
| Free cash flow yield | 35.5% | 7.8% | -16.0% | 17.8% | -0.1% | -0.6% | — | — | — | — |
| Revenue growth | 23.7% | 0.3% | 74.5% | 38.8% | 56.7% | -7.7% | — | — | — | — |
| Earnings growth | -56.1% | -454.8% | -120.1% | 99.1% | -47.6% | -2.0% | — | — | — | — |
| Current ratio | 1.06x | 1.25x | 1.82x | 1.20x | 12.20x | 13.54x | — | — | — | — |
| Debt to equity | 0.01x | 0.01x | 0.00x | 0.01x | 0.00x | 0.01x | — | — | — | — |
| Equity ratio | 21.6% | 40.9% | 71.0% | 41.0% | 92.0% | 92.0% | — | — | — | — |
| Interest coverage | 0.31x | -1.84x | -15.08x | -15.93x | -21.44x | -54.45x | — | — | — | — |
| R&D as a share of sales | — | — | — | — | 0.2% | 1.2% | 1.0% | 5.4% | 6.9% | 6.1% |
| Buybacks as a share of market value | -0.9% | 2.2% | -0.5% | 2.2% | 0.0% | 0.0% | — | — | — | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 29.3% | 36.3% | 9.7% |
| Net income | -32.1% | -20.0% | -17.7% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -2.1% | -8.3% | -15.3% | -37.5% |
| Net margin | -9.5% | -9.9% | -15.1% | -13.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -57.3 | -24.8 | 94.6 | -22.3 | -52.3 | -26.9 | -34.4 | 18.0 | -38.6 | 49.8 |
| Price to sales | 3.0 | 3.6 | 3.9 | 8.1 | 13.1 | 20.2 | 24.3 | 33.6 | 46.7 | 65.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 5-for-1 split · 24 Oct 2006
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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