1 
0.25
—
Close of 9 Nov 2026, in HKD
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At a glance
Figures in HKD, from our data supplier.
Revenue
HK$435.2m
FY2016FY2025
Net income
−HK$1.0m
FY2016FY2025
Free cash flow
HK$75.4m
FY2016FY2025
Shareholders' equity
HK$56.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$435.2m | HK$470.4m | HK$471.8m | HK$352.9m | HK$394.2m | HK$320.5m | HK$345.7m | HK$348.5m | HK$270.0m | HK$217.8m |
| Operating income | HK$10.2m | HK$11.3m | HK$8.8m | HK$10.4m | HK$26.6m | −HK$14.3m | HK$4.5m | HK$146,000 | −HK$4.3m | HK$5.7m |
| Net income | −HK$1.0m | −HK$1.2m | −HK$6.2m | −HK$533,000 | HK$13.2m | −HK$12.9m | −HK$14.2m | −HK$5.6m | −HK$11.1m | HK$359,000 |
| Diluted earnings per share | -0.00 | -0.00 | -0.02 | -0.00 | 0.03 | -0.03 | -0.04 | -0.01 | -0.03 | 0.00 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$249.9m | HK$305.0m | HK$333.0m | HK$251.5m | HK$206.0m | HK$221.6m | HK$283.7m | HK$280.9m | HK$352.1m | HK$203.0m |
| Cash and short-term investments | HK$56.9m | HK$56.1m | HK$78.9m | HK$64.3m | HK$98.8m | HK$64.7m | HK$39.7m | HK$41.4m | HK$56.4m | HK$26.1m |
| Total liabilities | HK$184.5m | HK$234.2m | HK$261.7m | HK$175.7m | HK$133.1m | HK$165.3m | HK$209.1m | HK$199.0m | HK$261.1m | HK$155.2m |
| Debt | HK$130.1m | HK$174.0m | HK$197.4m | HK$113.8m | HK$80.8m | HK$127.7m | HK$175.3m | HK$159.3m | HK$227.6m | HK$131.4m |
| Shareholders' equity | HK$56.3m | HK$57.1m | HK$58.4m | HK$64.7m | HK$65.7m | HK$52.3m | HK$64.8m | HK$65.0m | HK$71.0m | HK$41.8m |
| Shares outstanding | 382m | 384m | 384m | 384m | 384m | 384m | 384m | 384m | 384m | 384m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$76.0m | HK$82.1m | HK$130.7m | HK$38.3m | HK$103.0m | HK$82.9m | HK$68.5m | HK$88.4m | HK$50.9m | HK$37.4m |
| Capital spending | −HK$611,000 | −HK$9.4m | −HK$72.7m | −HK$46.4m | −HK$2.7m | −HK$1.8m | −HK$19.0m | −HK$39.5m | −HK$40.3m | −HK$12.1m |
| Free cash flow | HK$75.4m | HK$72.7m | HK$58.0m | −HK$8.1m | HK$100.3m | HK$81.1m | HK$49.5m | HK$48.9m | HK$10.6m | HK$25.3m |
| Dividends paid | — | — | — | — | −HK$1.1m | −HK$980,000 | −HK$3.6m | — | — | −HK$1.8m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$204.1m | HK$102.0m | HK$212.4m | HK$106.3m | HK$111.5m | HK$111.5m | HK$241.6m | HK$121.0m |
| Operating income | −HK$85,000 | HK$1.4m | HK$8.1m | HK$2.7m | HK$1.2m | HK$1.2m | HK$12.9m | HK$5.2m |
| Net income | −HK$1.0m | −HK$508,000 | HK$1.8m | HK$877,500 | −HK$1.4m | −HK$1.4m | HK$3.2m | HK$1.6m |
| Diluted earnings per share | -0.00 | -0.00 | 0.00 | 0.00 | -0.00 | -0.00 | 0.01 | 0.00 |
| Cash from operations | HK$29.0m | HK$14.0m | HK$46.0m | HK$23.0m | HK$29.0m | HK$14.0m | HK$40.0m | HK$19.0m |
| Capital spending | — | — | — | — | — | — | −HK$5.0m | −HK$2.0m |
| Free cash flow | — | — | — | — | — | — | HK$35.0m | HK$17.0m |
| Total assets | HK$225.5m | HK$225.5m | HK$249.9m | HK$249.9m | HK$259.2m | HK$259.2m | HK$305.0m | HK$305.0m |
| Cash and short-term investments | HK$54.3m | HK$51.2m | HK$56.9m | HK$60.6m | HK$42.0m | HK$42.0m | HK$56.1m | HK$64.2m |
| Debt | HK$68.1m | HK$68.1m | HK$130.1m | HK$79.1m | HK$140.4m | HK$83.3m | HK$223.6m | HK$93.7m |
| Shareholders' equity | HK$55.4m | HK$55.4m | HK$56.3m | HK$56.3m | HK$54.4m | HK$54.4m | HK$57.1m | HK$57.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 7.2% | 6.3% | 10.4% |
| Operating income | -0.9% | — | 13.5% |
| Net income | 23.7% | -39.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | 2.4% | 2.4% | 2.2% | 1.6% |
| Net margin | -0.2% | -0.5% | -0.4% | -1.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -155.2 | -65.9 | -12.5 | -263.0 | 8.6 | -5.8 | -8.3 | -13.9 | -15.4 |
| Price to sales | 0.4 | 0.2 | 0.2 | 0.4 | 0.3 | 0.2 | 0.3 | 0.2 | 0.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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