Y 
0.15
—
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$1.07bn
FY2016FY2025
Net income
−HK$19.0m
FY2016FY2025
Free cash flow
−HK$96.6m
FY2016FY2025
Shareholders' equity
−HK$520.0m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$1.07bn | HK$781.7m | HK$1.16bn | HK$796.0m | HK$908.4m | HK$2.04bn | HK$1.52bn | HK$4.17bn | HK$3.42bn | HK$563.7m |
| Gross profit | HK$43.2m | HK$7.7m | HK$9.1m | HK$14.8m | HK$7.2m | HK$32.3m | HK$843,000 | −HK$36.5m | HK$94.5m | HK$39.1m |
| Operating income | HK$15.3m | −HK$24.5m | HK$87.3m | −HK$24.8m | −HK$36.7m | −HK$19.4m | −HK$18.7m | −HK$95.6m | HK$6.0m | −HK$34.6m |
| Net income | −HK$19.0m | −HK$45.1m | HK$54.7m | −HK$62.0m | −HK$73.5m | HK$563.6m | −HK$945.0m | −HK$155.6m | HK$175,000 | −HK$37.0m |
| Diluted earnings per share | -0.01 | -0.04 | 0.04 | -0.05 | -0.06 | 0.44 | -0.73 | -0.12 | 0.00 | -0.03 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$699.8m | HK$317.5m | HK$570.7m | HK$759.3m | HK$425.2m | HK$643.1m | HK$1.41bn | HK$2.77bn | HK$1.27bn | HK$598.5m |
| Cash and short-term investments | HK$5.3m | HK$5.0m | HK$158.3m | HK$17.9m | HK$25.5m | HK$234.7m | HK$38.6m | HK$72.6m | HK$70.5m | HK$44.9m |
| Total liabilities | HK$1.22bn | HK$811.7m | HK$1.02bn | HK$1.26bn | HK$865.6m | HK$1.03bn | HK$2.36bn | HK$2.75bn | HK$1.07bn | HK$434.9m |
| Debt | HK$462.0m | HK$443.0m | HK$682.9m | HK$625.3m | HK$447.6m | HK$595.2m | HK$527.8m | HK$752.1m | HK$94.2m | HK$51.6m |
| Shareholders' equity | −HK$520.0m | −HK$510.7m | −HK$465.6m | −HK$523.5m | −HK$467.0m | −HK$405.5m | −HK$967.5m | −HK$6.4m | HK$161.1m | HK$163.4m |
| Shares outstanding | 1,288m | 1,288m | 1,288m | 1,288m | 1,288m | 1,288m | 1,288m | 1,288m | 1,288m | 1,288m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$80.3m | −HK$142.1m | −HK$11.5m | −HK$35.6m | −HK$195.5m | −HK$181.4m | HK$238.4m | HK$227.0m | −HK$185.2m | −HK$80.0m |
| Capital spending | −HK$16.3m | −HK$2.6m | −HK$6.5m | −HK$6.1m | −HK$1.3m | −HK$5.4m | −HK$35.1m | −HK$40.0m | −HK$23.5m | −HK$4.5m |
| Free cash flow | −HK$96.6m | −HK$144.7m | −HK$18.0m | −HK$41.8m | −HK$196.8m | −HK$186.8m | HK$203.3m | HK$187.0m | −HK$208.7m | −HK$84.5m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$639.5m | HK$319.7m | HK$551.3m | HK$275.7m | HK$257.3m | HK$257.3m | HK$45.6m | HK$45.6m |
| Gross profit | HK$11.0m | HK$5.5m | HK$41.8m | HK$20.9m | HK$693,000 | HK$693,000 | HK$3.2m | HK$3.2m |
| Operating income | −HK$826,000 | −HK$413,000 | HK$29.1m | HK$13.9m | −HK$6.2m | −HK$6.2m | −HK$8.4m | −HK$8.4m |
| Net income | −HK$7.9m | −HK$4.0m | HK$8.0m | HK$4.0m | −HK$13.5m | −HK$13.5m | −HK$13.7m | −HK$13.7m |
| Diluted earnings per share | -0.01 | -0.00 | 0.01 | 0.00 | -0.01 | -0.01 | -0.01 | -0.01 |
| Cash from operations | HK$103.0m | HK$51.0m | −HK$4.0m | −HK$2.0m | −HK$37.0m | −HK$37.0m | −HK$50.0m | −HK$50.0m |
| Capital spending | — | — | −HK$15.0m | −HK$7.0m | — | — | — | — |
| Free cash flow | — | — | −HK$19.0m | −HK$9.0m | — | — | — | — |
| Total assets | HK$508.7m | HK$508.7m | HK$699.8m | HK$699.8m | HK$659.9m | HK$659.9m | HK$317.5m | HK$317.5m |
| Cash and short-term investments | HK$19.3m | HK$19.3m | HK$5.3m | HK$47.4m | HK$10.7m | HK$10.7m | HK$9.7m | HK$9.7m |
| Debt | HK$575.9m | HK$575.9m | HK$462.0m | HK$201.6m | HK$411.9m | HK$124.4m | HK$443.0m | HK$152.3m |
| Shareholders' equity | −HK$526.7m | −HK$526.7m | −HK$520.0m | −HK$520.0m | −HK$537.1m | −HK$537.1m | −HK$510.7m | −HK$510.7m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 10.2% | -12.2% | 15.1% |
| Net income | -32.6% | — | -2.4% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.8% | 2.0% | 1.7% | 1.5% |
| Operating margin | -0.5% | 1.4% | -0.0% | -1.1% |
| Net margin | -3.5% | -1.9% | 6.2% | -4.5% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -16.1 | -12.3 | 9.7 | -2.3 | -2.0 | 0.6 | -0.3 | -1.8 | — | -13.1 |
| Price to sales | 0.3 | 0.7 | 0.5 | 0.2 | 0.2 | 0.2 | 0.2 | 0.1 | 0.1 | 0.9 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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