M 
2.50
-3.10%
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$118.8m
FY2016FY2025
Net income
−HK$21.3m
FY2016FY2025
Free cash flow
HK$29.8m
FY2016FY2025
Shareholders' equity
HK$261.7m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$118.8m | HK$246.0m | HK$206.5m | HK$207.2m | HK$276.9m | HK$210.2m | HK$96.4m | HK$112.4m | HK$158.4m |
| Gross profit | HK$25.5m | HK$55.3m | HK$37.8m | HK$35.1m | HK$46.5m | HK$36.2m | HK$15.0m | HK$29.9m | HK$39.7m |
| Operating income | −HK$16.5m | HK$9.7m | HK$12.5m | HK$1.9m | HK$22.5m | HK$14.2m | −HK$21.3m | −HK$7.4m | −HK$9.0m |
| Net income | −HK$21.3m | −HK$58.4m | −HK$24.7m | −HK$11.7m | HK$7.6m | HK$9.4m | −HK$28.2m | −HK$12.7m | −HK$25.6m |
| Diluted earnings per share | -0.02 | -0.07 | -0.03 | -0.02 | 0.05 | 0.06 | -0.18 | -0.08 | -0.16 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$347.0m | HK$407.9m | HK$492.6m | HK$409.0m | HK$364.3m | HK$310.5m | HK$239.8m | HK$128.8m | HK$148.5m |
| Cash and short-term investments | HK$33.3m | HK$29.7m | HK$16.0m | HK$66.1m | HK$7.6m | HK$12.3m | HK$4.5m | HK$8.3m | HK$8.0m |
| Total liabilities | HK$85.2m | HK$123.7m | HK$216.4m | HK$108.8m | HK$248.1m | HK$279.1m | HK$216.9m | HK$101.2m | HK$108.5m |
| Debt | HK$728,000 | HK$42.2m | HK$41.1m | HK$5.4m | HK$2.4m | HK$77.0m | HK$102.6m | HK$93.9m | HK$91.8m |
| Shareholders' equity | HK$261.7m | HK$284.2m | HK$276.2m | HK$300.3m | HK$116.3m | HK$31.5m | HK$22.9m | HK$27.6m | HK$39.9m |
| Shares outstanding | 1,114m | 983m | 774m | 550m | 165m | 160m | 160m | 160m | 160m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$35.2m | −HK$34.8m | −HK$76.4m | HK$11.6m | −HK$17.6m | −HK$15.2m | −HK$68.6m | HK$8.6m | HK$3.8m |
| Capital spending | −HK$5.4m | −HK$1.1m | −HK$24,000 | — | — | −HK$1.4m | −HK$449,000 | −HK$1.7m | −HK$664,000 |
| Free cash flow | HK$29.8m | −HK$35.9m | −HK$76.5m | HK$11.6m | −HK$17.6m | −HK$16.6m | −HK$69.1m | HK$6.9m | HK$3.1m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$75.8m | HK$100.6m | HK$18.1m | HK$154.0m | HK$92.0m | HK$77.0m | HK$129.5m | HK$93.4m |
| Gross profit | HK$27.3m | HK$19.6m | HK$5.9m | HK$35.3m | HK$20.0m | HK$12.4m | HK$25.4m | HK$17.1m |
| Operating income | HK$9.8m | −HK$1.2m | −HK$15.3m | HK$3.6m | HK$6.0m | −HK$738,000 | HK$13.3m | −HK$8.1m |
| Net income | HK$6.1m | −HK$4.9m | −HK$16.4m | −HK$56.5m | −HK$1.9m | −HK$13.2m | −HK$11.5m | −HK$21.0m |
| Diluted earnings per share | 0.01 | -0.00 | -0.01 | -0.05 | -0.01 | -0.01 | -0.00 | -0.03 |
| Total assets | HK$372.0m | HK$347.0m | HK$380.7m | HK$407.9m | HK$552.4m | HK$492.6m | HK$514.4m | HK$409.0m |
| Cash and short-term investments | HK$18.1m | HK$33.3m | HK$25.6m | HK$29.7m | HK$44.0m | HK$16.0m | HK$45.5m | HK$66.1m |
| Debt | HK$5.4m | HK$600,000 | HK$38.8m | HK$42.0m | HK$60.3m | HK$41.0m | HK$29.8m | HK$5.0m |
| Shareholders' equity | HK$269.5m | HK$261.7m | HK$270.6m | HK$284.2m | HK$344.6m | HK$276.2m | HK$291.5m | HK$300.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -16.9% | -10.8% | -7.4% |
| Net income | 22.0% | — | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 22.2% | 19.8% | 18.7% | 19.6% |
| Operating margin | -1.9% | 1.0% | 3.5% | -1.5% |
| Net margin | -21.8% | -14.9% | -7.8% | -8.0% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -17.3 | -7.9 | -9.4 | -6.4 | 4.4 | 8.9 | -1.2 | 3.5 | -3.4 | -2.5 |
| Price to sales | 3.1 | 1.9 | 1.1 | 0.4 | 0.1 | 0.4 | 0.3 | 2.5 | 0.4 | 0.4 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 11 Sept 2000.
| FY2001 | FY2000 | |
|---|---|---|
| Paid in the year | 0.55 | 0.30 |
- 5-to-1 reverse split · 26 Jul 2021
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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