W 
0.12
-3.36%
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$189.9m
FY2017FY2026
Net income
−HK$14.3m
FY2017FY2026
Free cash flow
−HK$691,000
FY2017FY2026
Shareholders' equity
HK$25.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$189.9m | HK$157.6m | HK$187.2m | HK$206.9m | HK$674.0m | HK$332.8m | HK$178.0m | HK$193.0m | HK$197.9m | HK$79.3m |
| Gross profit | HK$4.7m | HK$2.2m | HK$4.6m | HK$2.5m | HK$44.8m | HK$30.8m | HK$12.1m | HK$26.8m | HK$42.7m | HK$22.3m |
| Operating income | −HK$12.9m | −HK$24.3m | −HK$25.0m | −HK$25.3m | HK$11.6m | HK$987,000 | −HK$19.5m | −HK$5.4m | HK$23.7m | HK$13.8m |
| Net income | −HK$14.3m | −HK$25.2m | −HK$24.7m | −HK$26.8m | HK$9.2m | HK$4.8m | −HK$22.0m | −HK$16.0m | HK$10.3m | HK$11.5m |
| Diluted earnings per share | -0.08 | -0.15 | -0.20 | -0.22 | 0.09 | 0.06 | -0.26 | -0.19 | 0.12 | 0.14 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$55.6m | HK$72.0m | HK$91.9m | HK$83.4m | HK$134.8m | HK$113.8m | HK$90.0m | HK$90.3m | HK$55.0m | HK$62.0m |
| Cash and short-term investments | HK$7.1m | HK$15.5m | HK$14.8m | HK$25.7m | HK$45.0m | HK$26.7m | HK$15.9m | HK$43.6m | HK$7.0m | HK$6.8m |
| Total liabilities | HK$30.3m | HK$35.4m | HK$33.2m | HK$21.7m | HK$73.5m | HK$61.8m | HK$42.6m | HK$21.0m | HK$27.4m | HK$34.9m |
| Debt | HK$66,000 | HK$9.3m | HK$1.6m | HK$3.2m | HK$5.1m | HK$4.3m | HK$10.6m | HK$324,000 | HK$2.4m | HK$3.1m |
| Shareholders' equity | HK$25.2m | HK$36.6m | HK$58.7m | HK$61.7m | HK$61.4m | HK$52.4m | HK$47.2m | HK$69.2m | HK$27.6m | HK$22.2m |
| Shares outstanding | 178m | 173m | 125m | 121m | 99m | 84m | 84m | 84m | 84m | 84m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$410,000 | −HK$11.5m | −HK$32.2m | −HK$43.0m | HK$14.3m | HK$8.3m | −HK$16.1m | −HK$16.4m | HK$5.9m | HK$11.5m |
| Capital spending | −HK$1.1m | — | −HK$1.9m | −HK$56,000 | −HK$2.5m | −HK$301,000 | −HK$4.9m | −HK$3.8m | −HK$27,000 | −HK$131,000 |
| Free cash flow | −HK$691,000 | −HK$11.5m | −HK$34.1m | −HK$43.0m | HK$11.7m | HK$8.0m | −HK$21.0m | −HK$20.2m | HK$5.9m | HK$11.4m |
Latest quarters
By quarter end
| Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | Jun 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$114.4m | HK$57.2m | HK$37.8m | HK$37.8m | HK$78.5m | HK$39.3m | HK$39.5m | HK$39.5m |
| Gross profit | HK$2.4m | HK$1.2m | HK$1.2m | HK$1.2m | HK$4.7m | HK$2.4m | −HK$1.3m | −HK$1.3m |
| Operating income | −HK$6.1m | −HK$3.0m | −HK$3.4m | −HK$3.4m | −HK$8.9m | −HK$4.4m | −HK$7.7m | −HK$7.7m |
| Net income | −HK$6.5m | −HK$3.3m | −HK$3.9m | −HK$3.9m | −HK$9.7m | −HK$4.8m | −HK$7.8m | −HK$7.8m |
| Diluted earnings per share | -0.04 | -0.02 | -0.02 | -0.02 | -0.06 | -0.04 | -0.06 | -0.06 |
| Cash from operations | — | — | −HK$2.0m | — | — | — | −HK$12.0m | −HK$6.0m |
| Capital spending | — | — | −HK$1.0m | — | — | — | — | — |
| Free cash flow | — | — | −HK$3.0m | — | — | — | — | — |
| Total assets | HK$55.6m | HK$55.6m | HK$51.0m | HK$51.0m | HK$72.0m | HK$72.0m | HK$78.6m | HK$78.6m |
| Cash and short-term investments | HK$7.1m | HK$7.1m | HK$9.6m | HK$9.6m | HK$15.5m | HK$15.5m | HK$6.8m | HK$6.8m |
| Debt | HK$66,000 | HK$66,000 | HK$7.2m | HK$7.2m | HK$9.3m | HK$9.3m | HK$4.3m | HK$4.2m |
| Shareholders' equity | HK$25.2m | HK$25.2m | HK$28.8m | HK$28.8m | HK$36.6m | HK$36.6m | HK$43.2m | HK$43.2m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.8% | -10.6% | 9.6% |
| Operating income | -20.1% | — | — |
| Net income | -18.9% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 2.0% | 1.9% | 5.1% | 8.4% |
| Operating margin | -10.7% | -11.8% | -4.3% | -2.2% |
| Net margin | -11.4% | -12.3% | -4.4% | -3.5% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -1.5 | -1.0 | -1.0 | -4.7 | 6.3 | 24.3 | -3.1 | -4.1 | 9.8 |
| Price to sales | 0.1 | 0.2 | 0.1 | 0.6 | 0.1 | 0.3 | 0.4 | 0.3 | 0.5 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 10-to-1 reverse split · 17 Jan 2025
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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