Z 
0.33
-5.80%
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$20.0m
FY2016FY2025
Net income
−HK$451.6m
FY2016FY2025
Free cash flow
−HK$2.0m
FY2016FY2025
Shareholders' equity
HK$935.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$20.0m | HK$14.2m | HK$22.2m | HK$21.2m | HK$32.9m | HK$201.5m | HK$32.8m | — | HK$6.7m | HK$4.5m |
| Operating income | −HK$76.6m | HK$51.1m | −HK$35.1m | −HK$220.3m | −HK$7.2m | −HK$265.0m | −HK$141.5m | −HK$73.7m | −HK$60.1m | −HK$80.2m |
| Net income | −HK$451.6m | −HK$8.3m | −HK$246.2m | −HK$361.6m | HK$91.3m | −HK$338.8m | −HK$158.6m | −HK$124.0m | −HK$92.8m | −HK$76.2m |
| Diluted earnings per share | -2.73 | -0.07 | -2.24 | -3.59 | 0.90 | -3.36 | -1.67 | -1.56 | -1.31 | -1.37 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.39bn | HK$1.95bn | HK$1.74bn | HK$1.91bn | HK$2.28bn | HK$2.12bn | HK$2.72bn | HK$2.86bn | HK$2.43bn | HK$2.56bn |
| Cash and short-term investments | HK$9.6m | HK$13.2m | HK$33.4m | HK$20.3m | HK$21.9m | HK$48.9m | HK$131.8m | HK$286.7m | HK$471.8m | HK$516.1m |
| Total liabilities | HK$452.3m | HK$610.8m | HK$357.6m | HK$266.3m | HK$301.0m | HK$303.9m | HK$506.9m | HK$715.6m | HK$548.8m | HK$512.8m |
| Debt | HK$8.8m | HK$11.4m | HK$3.4m | HK$1.9m | HK$940,000 | HK$2.9m | — | HK$234.3m | HK$209.8m | HK$198.1m |
| Shareholders' equity | HK$935.9m | HK$1.34bn | HK$1.39bn | HK$1.65bn | HK$1.97bn | HK$1.81bn | HK$2.21bn | HK$2.15bn | HK$1.88bn | HK$2.05bn |
| Shares outstanding | 165m | 124m | 110m | 101m | 101m | 101m | 95m | 79m | 71m | 55m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$232,000 | −HK$18.3m | HK$1.9m | HK$7.9m | −HK$28.7m | −HK$64.4m | HK$116.5m | −HK$128.7m | −HK$281.8m | −HK$63.0m |
| Capital spending | −HK$1.8m | −HK$14.8m | −HK$14.4m | −HK$10.7m | −HK$1.8m | −HK$8.8m | −HK$12.5m | −HK$993,000 | −HK$7.1m | −HK$2.7m |
| Free cash flow | −HK$2.0m | −HK$33.2m | −HK$12.5m | −HK$2.8m | −HK$30.5m | −HK$73.1m | HK$104.0m | −HK$129.7m | −HK$288.9m | −HK$65.7m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$13.3m | HK$10.5m | HK$9.6m | HK$6.6m | HK$7.6m | HK$1.9m | HK$20.4m | HK$8.9m |
| Operating income | −HK$8.9m | −HK$63.4m | −HK$13.2m | HK$60.9m | −HK$9.8m | −HK$39.8m | HK$5.1m | −HK$305.1m |
| Net income | −HK$5.3m | −HK$435.8m | −HK$15.7m | HK$4.5m | −HK$12.9m | −HK$229.4m | −HK$16.8m | −HK$422.8m |
| Diluted earnings per share | -0.03 | -2.51 | -0.10 | 0.05 | -0.10 | -2.01 | -0.15 | -4.20 |
| Cash from operations | −HK$8.0m | HK$17.0m | −HK$17.0m | −HK$7.0m | −HK$11.0m | −HK$5.0m | HK$7.0m | HK$7.0m |
| Capital spending | −HK$1.0m | — | −HK$1.0m | −HK$14.0m | — | −HK$6.0m | −HK$8.0m | −HK$1.0m |
| Free cash flow | −HK$9.0m | — | −HK$18.0m | −HK$21.0m | — | −HK$11.0m | −HK$1.0m | HK$6.0m |
| Total assets | HK$1.39bn | HK$1.39bn | HK$1.95bn | HK$1.95bn | HK$1.67bn | HK$1.74bn | HK$1.97bn | HK$1.91bn |
| Cash and short-term investments | HK$14.1m | HK$9.6m | HK$11.4m | HK$13.2m | HK$28.0m | HK$33.4m | HK$44.4m | HK$20.3m |
| Debt | HK$8.8m | HK$8.7m | HK$8.9m | HK$9.1m | HK$9.8m | HK$1.2m | — | HK$352,000 |
| Shareholders' equity | HK$956.5m | HK$935.9m | HK$1.40bn | HK$1.34bn | HK$1.33bn | HK$1.39bn | HK$1.57bn | HK$1.65bn |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -1.9% | -37.0% | — |
| Operating income | -29.7% | -22.0% | -2.8% |
| Net income | 7.7% | 5.9% | 11.1% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -74.4% | -361.9% | -177.3% | — |
| Net margin | -1344.6% | -1375.5% | -421.5% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.1 | -6.8 | -0.2 | -0.4 | 4.1 | -0.8 | -0.9 | -1.6 | -2.5 | -5.3 |
| Price to sales | 1.6 | 4.0 | 2.4 | 6.3 | 11.4 | 1.3 | 4.5 | — | 35.0 | 90.0 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 21 Sept 1998.
- 10-to-1 reverse split · 27 Jun 2025
- 10-to-1 reverse split · 14 Oct 2022
- 25-to-1 reverse split · 3 Jun 2013
- 30-to-1 reverse split · 8 Apr 2003
- 1.115-for-1 split · 1 Nov 1999
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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