M 
0.32
—
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$51.4m
FY2016FY2025
Net income
−HK$4.9m
FY2016FY2025
Free cash flow
−HK$2.5m
FY2016FY2025
Shareholders' equity
HK$891,000
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$51.4m | HK$69.8m | HK$78.4m | HK$74.5m | HK$87.3m | HK$185.7m | HK$230.8m | HK$265.8m | HK$335.8m | HK$409.8m |
| Gross profit | HK$8.2m | HK$14.5m | HK$23.9m | HK$30.1m | HK$38.8m | HK$69.1m | HK$92.1m | HK$121.4m | HK$126.1m | HK$131.0m |
| Operating income | −HK$4.3m | −HK$4.0m | −HK$10.5m | −HK$18.2m | −HK$8.9m | −HK$22.6m | −HK$15.5m | HK$297,000 | HK$14.0m | HK$15.9m |
| Net income | −HK$4.9m | −HK$4.7m | −HK$6.0m | −HK$21.4m | −HK$64.8m | −HK$60.3m | −HK$18.8m | −HK$4.3m | HK$10.3m | HK$11.2m |
| Diluted earnings per share | -0.16 | -0.15 | -0.19 | -1.84 | -10.08 | -11.41 | -7.51 | -1.71 | 5.48 | 4.47 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$36.6m | HK$48.4m | HK$33.4m | HK$44.7m | HK$50.7m | HK$146.1m | HK$193.8m | HK$178.5m | HK$146.0m | HK$162.3m |
| Cash and short-term investments | HK$322,000 | HK$4.4m | HK$1.4m | HK$19.7m | HK$3.4m | HK$35.2m | HK$7.5m | HK$21.8m | HK$26.7m | HK$12.2m |
| Total liabilities | HK$35.8m | HK$42.6m | HK$23.0m | HK$28.2m | HK$73.3m | HK$136.3m | HK$128.8m | HK$92.5m | HK$101.7m | HK$125.9m |
| Debt | HK$12.5m | HK$11.7m | HK$12.4m | HK$16.8m | HK$146.1m | HK$60.2m | HK$341.8m | HK$50.3m | HK$46.5m | HK$59.2m |
| Shareholders' equity | HK$891,000 | HK$5.8m | HK$10.4m | HK$16.5m | −HK$22.6m | HK$9.8m | HK$65.0m | HK$86.1m | HK$44.3m | HK$36.4m |
| Shares outstanding | 31m | 31m | 31m | 12m | 6m | 5m | 3m | 3m | 2m | 3m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$2.5m | HK$4.2m | −HK$14.6m | −HK$29.0m | HK$16.5m | HK$14.3m | −HK$24.5m | −HK$31.0m | HK$12.9m | HK$24.5m |
| Capital spending | — | — | −HK$2.2m | −HK$3.4m | −HK$44,000 | −HK$1.2m | −HK$4.6m | −HK$4.9m | −HK$3.9m | −HK$4.9m |
| Free cash flow | −HK$2.5m | HK$4.2m | −HK$16.7m | −HK$32.4m | HK$16.4m | HK$13.1m | −HK$29.1m | −HK$35.8m | HK$9.0m | HK$19.6m |
| Dividends paid | — | — | — | — | — | — | — | −HK$10.3m | −HK$10.3m | −HK$10.3m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$26.3m | HK$22.7m | HK$28.6m | HK$69.8m | HK$21.1m | HK$16.6m | HK$16.6m | HK$26.8m |
| Gross profit | HK$3.4m | HK$3.1m | HK$5.1m | HK$14.5m | HK$6.9m | HK$6.1m | HK$1.3m | HK$9.6m |
| Operating income | −HK$4.0m | −HK$2.7m | −HK$1.6m | −HK$4.1m | −HK$1.8m | HK$725,000 | HK$1.8m | −HK$4.0m |
| Net income | −HK$4.0m | −HK$3.0m | −HK$1.9m | −HK$4.7m | −HK$1.8m | HK$596,000 | HK$349,000 | −HK$4.1m |
| Diluted earnings per share | -0.07 | -0.09 | -0.06 | -0.15 | -0.07 | 0.00 | 0.00 | -0.02 |
| Total assets | HK$52.8m | HK$36.6m | HK$47.9m | HK$48.4m | HK$41.4m | — | HK$33.4m | — |
| Cash and short-term investments | HK$19.7m | HK$322,000 | HK$15.6m | HK$4.4m | HK$7.2m | — | HK$1.4m | — |
| Debt | HK$9.8m | HK$11.7m | HK$11.7m | HK$11.7m | HK$11.7m | — | HK$12.3m | — |
| Shareholders' equity | HK$26.4m | HK$891,000 | HK$3.9m | HK$5.8m | HK$9.2m | — | HK$10.4m | — |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -11.7% | -22.7% | — |
| Operating income | -38.3% | -28.3% | — |
| Net income | -39.0% | -39.5% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.7% | 28.0% | 33.7% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|
| Price to earnings | -2.1 | -2.5 | -7.7 | -1.1 | -0.3 | -0.6 | -0.5 | -5.7 |
| Price to sales | 0.2 | 0.2 | 0.6 | 0.3 | 0.2 | 0.2 | 0.0 | 0.1 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 8-to-1 reverse split · 7 Mar 2025
- 20-to-1 reverse split · 17 Jun 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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