S 
0.03
+6.45%
Close of 5 Nov 2026, in HKD
At a glance
Figures in HKD, from our data supplier.
Revenue
HK$200.3m
FY2017FY2026
Net income
−HK$26.6m
FY2017FY2026
Free cash flow
HK$8.9m
FY2017FY2026
Shareholders' equity
HK$110.2m
FY2017FY2026
Income statement
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$200.3m | HK$205.0m | HK$235.6m | HK$216.1m | HK$155.6m | HK$223.1m | HK$303.9m | HK$393.5m | HK$264.5m | HK$220.9m |
| Research and development | — | — | — | — | HK$1.6m | HK$3.7m | HK$4.0m | HK$4.5m | HK$3.4m | HK$3.1m |
| Operating income | −HK$8.1m | HK$3.4m | HK$12.4m | HK$48.7m | HK$3.5m | −HK$101.1m | HK$31.9m | HK$20.5m | −HK$133.5m | HK$16.4m |
| Net income | −HK$26.6m | −HK$36.2m | HK$571,000 | HK$41.0m | −HK$43.9m | −HK$127.4m | −HK$139.7m | −HK$4.3m | −HK$139.2m | HK$12.7m |
| Diluted earnings per share | -0.01 | -0.01 | 0.00 | 0.01 | -0.01 | -0.04 | -0.05 | -0.00 | -0.07 | 0.01 |
Balance sheet
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$228.0m | HK$288.9m | HK$344.3m | HK$339.4m | HK$246.8m | HK$208.3m | HK$438.9m | HK$792.4m | HK$769.8m | HK$266.1m |
| Cash and short-term investments | HK$7.4m | HK$5.5m | HK$12.7m | HK$13.1m | HK$35.3m | HK$36.7m | HK$57.2m | HK$65.5m | HK$158.9m | HK$110.2m |
| Total liabilities | HK$119.1m | HK$153.6m | HK$172.7m | HK$196.0m | HK$144.1m | HK$187.3m | HK$306.0m | HK$584.9m | HK$603.0m | HK$52.5m |
| Debt | HK$88.8m | HK$128.9m | HK$122.2m | HK$86.5m | HK$121.5m | HK$70.8m | HK$191.3m | HK$375.1m | HK$354.7m | HK$30.6m |
| Shareholders' equity | HK$110.2m | HK$136.6m | HK$172.9m | HK$146.0m | HK$105.2m | HK$21.1m | HK$142.7m | HK$162.0m | HK$114.8m | HK$212.0m |
| Shares outstanding | 3,112m | 3,108m | 3,108m | 3,108m | 3,108m | 3,102m | 2,565m | 3,053m | 2,123m | 2,115m |
Cash flow
Fiscal years
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$9.3m | HK$24.0m | HK$38.8m | HK$4.8m | HK$10.5m | HK$31.2m | −HK$28.0m | −HK$22.9m | −HK$21.8m | HK$3.6m |
| Capital spending | −HK$386,000 | −HK$354,000 | −HK$5.0m | −HK$1.9m | −HK$10,000 | −HK$120,000 | −HK$3.2m | −HK$6.0m | −HK$5.5m | −HK$7.0m |
| Free cash flow | HK$8.9m | HK$23.7m | HK$33.8m | HK$2.9m | HK$10.5m | HK$31.1m | −HK$31.2m | −HK$29.0m | −HK$27.2m | −HK$3.4m |
Latest quarters
By quarter end
| Mar 2026 | Sept 2025 | Mar 2025 | Sept 2024 | Jun 2024 | Mar 2024 | Dec 2023 | Sept 2023 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$98.2m | HK$102.1m | HK$102.1m | HK$103.0m | HK$51.5m | HK$107.6m | HK$53.8m | HK$128.0m |
| Operating income | −HK$4.2m | −HK$3.9m | HK$2.7m | HK$706,000 | HK$353,000 | HK$12.4m | HK$4.5m | HK$21.1m |
| Net income | −HK$14.0m | −HK$12.6m | −HK$32.0m | −HK$4.3m | −HK$2.1m | −HK$10.3m | −HK$5.1m | HK$10.8m |
| Diluted earnings per share | -0.00 | -0.00 | -0.01 | -0.00 | -0.00 | -0.00 | -0.00 | 0.00 |
| Cash from operations | −HK$3.0m | HK$3.0m | HK$7.0m | −HK$19.0m | HK$8.0m | HK$2.0m | HK$1.0m | HK$32.0m |
| Capital spending | — | — | — | HK$3.0m | — | −HK$1.0m | — | −HK$3.0m |
| Free cash flow | — | — | — | −HK$16.0m | — | HK$1.0m | — | HK$29.0m |
| Total assets | HK$228.0m | HK$280.6m | HK$288.9m | HK$331.7m | HK$331.7m | HK$344.3m | HK$344.3m | HK$358.9m |
| Cash and short-term investments | HK$7.4m | HK$11.0m | HK$5.5m | HK$18.7m | HK$18.7m | HK$12.7m | HK$12.7m | HK$21.2m |
| Debt | HK$88.6m | HK$121.8m | HK$128.9m | HK$143.0m | HK$137.2m | HK$122.2m | HK$141.6m | HK$146.4m |
| Shareholders' equity | HK$110.2m | HK$124.1m | HK$136.6m | HK$168.7m | HK$168.7m | HK$172.9m | HK$172.9m | HK$176.3m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -2.5% | -2.1% | 0.5% |
| Operating income | — | -39.7% | — |
| Net income | — | -26.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -1.2% | 6.6% | -3.3% | -3.5% |
| Net margin | -15.5% | -2.5% | -15.6% | -17.3% |
Valuation history
At each fiscal year end
| FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -3.9 | -3.3 | 168.7 | 4.2 | -5.9 | -7.2 | -2.7 | -235.5 | -4.0 | 92.1 |
| Price to sales | 0.5 | 0.6 | 0.4 | 0.8 | 1.7 | 4.1 | 1.3 | 2.6 | 2.1 | 5.3 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Aug 2015.
| FY2016 | FY2015 | |
|---|---|---|
| Paid in the year | 0.006 | 0.01 |
- 4-for-1 split · 5 Dec 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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