C 
0.29
+1.79%
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$713.4m
FY2016FY2025
Net income
−HK$106.0m
FY2016FY2025
Free cash flow
−HK$132.7m
FY2016FY2025
Shareholders' equity
HK$225.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$713.4m | HK$454.5m | HK$211.8m | HK$432.5m | HK$775.2m | HK$1.86bn | HK$2.67bn | HK$1.84bn | HK$897.0m | −HK$76.1m |
| Gross profit | HK$116.6m | HK$63.6m | −HK$16.1m | −HK$34.1m | HK$50.6m | HK$9.1m | HK$21.9m | HK$26.1m | −HK$2.3m | −HK$90.1m |
| Operating income | −HK$57.1m | −HK$43.8m | −HK$146.2m | −HK$157.7m | −HK$83.3m | −HK$240.7m | −HK$220.1m | −HK$140.6m | −HK$136.5m | −HK$165.6m |
| Net income | −HK$106.0m | −HK$139.3m | −HK$167.2m | −HK$198.8m | −HK$82.3m | −HK$252.2m | −HK$254.3m | −HK$85.1m | −HK$123.7m | HK$92.0m |
| Diluted earnings per share | -0.02 | -0.02 | -0.03 | -0.04 | -0.01 | -0.04 | -0.05 | -0.02 | -0.02 | 0.02 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$1.70bn | HK$1.56bn | HK$1.34bn | HK$1.59bn | HK$1.60bn | HK$1.69bn | HK$2.08bn | HK$2.04bn | HK$1.59bn | HK$1.63bn |
| Cash and short-term investments | HK$37.3m | HK$44.1m | HK$31.8m | HK$26.6m | HK$68.4m | HK$50.0m | HK$100.4m | HK$330.2m | HK$18.9m | HK$183.0m |
| Total liabilities | HK$1.48bn | HK$1.52bn | HK$1.27bn | HK$1.36bn | HK$1.51bn | HK$1.54bn | HK$1.63bn | HK$1.41bn | HK$826.0m | HK$773.3m |
| Debt | HK$705.9m | HK$787.2m | HK$597.4m | HK$642.8m | HK$593.7m | HK$613.6m | HK$645.7m | HK$601.9m | HK$30.3m | — |
| Shareholders' equity | HK$225.5m | HK$37.2m | HK$64.8m | HK$223.9m | HK$88.1m | HK$143.1m | HK$457.8m | HK$632.5m | HK$762.1m | HK$854.0m |
| Shares outstanding | 6,613m | 5,732m | 5,644m | 5,644m | 5,644m | 5,644m | 5,637m | 5,636m | 5,639m | 5,639m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$54.7m | −HK$113.4m | HK$19.7m | −HK$7.5m | HK$41.3m | HK$40.3m | −HK$133.0m | −HK$186.2m | −HK$17.1m | −HK$77.3m |
| Capital spending | −HK$77.9m | −HK$52.2m | −HK$44.7m | −HK$132.5m | −HK$91.7m | −HK$93.5m | −HK$684.0m | — | −HK$245.0m | −HK$35.9m |
| Free cash flow | −HK$132.7m | −HK$165.6m | −HK$25.0m | −HK$140.0m | −HK$50.4m | −HK$53.2m | −HK$817.0m | −HK$186.2m | −HK$262.1m | −HK$113.2m |
| Dividends paid | — | — | — | — | — | — | — | — | — | −HK$55.8m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$253.1m | HK$460.7m | HK$252.8m | HK$325.9m | HK$128.6m | HK$64.3m | HK$83.2m | HK$41.6m |
| Gross profit | HK$15.5m | HK$75.9m | HK$40.8m | HK$64.9m | −HK$1.3m | −HK$646,000 | −HK$6.9m | −HK$3.5m |
| Operating income | −HK$41.2m | −HK$10.0m | −HK$36.8m | HK$2.3m | −HK$42.0m | −HK$28.2m | −HK$82.4m | −HK$50.5m |
| Net income | −HK$70.8m | −HK$53.1m | −HK$52.9m | −HK$92.1m | −HK$47.2m | −HK$29.2m | −HK$94.8m | −HK$50.2m |
| Diluted earnings per share | -0.01 | -0.01 | -0.01 | -0.02 | -0.01 | -0.00 | -0.02 | -0.01 |
| Cash from operations | −HK$37.0m | −HK$43.0m | −HK$11.0m | −HK$39.0m | −HK$74.0m | — | −HK$16.0m | — |
| Capital spending | −HK$38.0m | −HK$48.0m | −HK$29.0m | −HK$48.0m | −HK$3.0m | — | — | — |
| Free cash flow | −HK$75.0m | −HK$91.0m | −HK$40.0m | −HK$87.0m | −HK$77.0m | — | — | — |
| Total assets | HK$1.77bn | HK$1.70bn | HK$1.65bn | HK$1.56bn | HK$1.31bn | HK$1.31bn | HK$1.34bn | HK$1.34bn |
| Cash and short-term investments | HK$57.9m | HK$37.3m | HK$76.3m | HK$44.1m | HK$53.7m | HK$79.9m | HK$31.8m | HK$50.1m |
| Debt | HK$482.6m | HK$561.5m | HK$484.0m | HK$661.8m | HK$541.2m | HK$624.1m | HK$504.3m | HK$592.6m |
| Shareholders' equity | HK$314.1m | HK$225.5m | HK$293.1m | HK$37.2m | HK$77.7m | HK$95.8m | HK$64.8m | HK$94.1m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 18.2% | -17.4% | 36.9% |
| Operating income | -28.7% | -25.0% | 9.5% |
| Net income | -18.9% | -15.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 15.4% | 7.2% | 4.3% | — |
| Operating margin | -8.6% | -22.3% | -16.4% | -14.4% |
| Net margin | -21.0% | -33.7% | -21.3% | -9.3% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -30.3 | -15.2 | -14.5 | -10.1 | -26.4 | -9.2 | -11.8 | -78.8 | -58.3 | 110.9 |
| Price to sales | 4.5 | 4.7 | 11.5 | 4.6 | 2.8 | 1.3 | 1.1 | 3.6 | 8.1 | -134.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 31 May 2016.
| FY2016 | FY2015 | FY2014 | FY2013 | FY2012 | FY2004 | FY2003 | FY2002 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.01 | 0.004 | 0.01 | 0.004 | 0.002 | 0.009 | 0.012 | 0.054 |
- 10-to-1 reverse split · 11 Aug 2017
- 5-for-1 split · 10 Aug 2015
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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