M 
0.41
—
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$138.0m
FY2016FY2025
Net income
−HK$592.2m
FY2016FY2025
Free cash flow
−HK$6.0m
FY2016FY2025
Shareholders' equity
−HK$1.49bn
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$138.0m | HK$126.7m | HK$137.1m | HK$116.7m | HK$158.7m | HK$135.8m | HK$159.4m | HK$23.2m | HK$133.7m | HK$190.7m |
| Operating income | −HK$78.1m | −HK$93.9m | −HK$115.3m | −HK$112.1m | −HK$157.5m | −HK$37.6m | HK$10.9m | −HK$46.8m | HK$47.5m | HK$77.1m |
| Net income | −HK$592.2m | −HK$551.8m | −HK$482.9m | −HK$371.7m | −HK$521.8m | −HK$202.9m | −HK$129.0m | −HK$92.7m | −HK$121.9m | HK$51.2m |
| Diluted earnings per share | -0.92 | -0.85 | -0.75 | -0.69 | -1.26 | -0.53 | -0.34 | -0.24 | -0.35 | 0.17 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$2.03bn | HK$2.26bn | HK$2.82bn | HK$3.35bn | HK$3.50bn | HK$4.68bn | HK$3.42bn | HK$3.31bn | HK$4.36bn | HK$1.83bn |
| Cash and short-term investments | HK$23.4m | HK$19.0m | HK$32.9m | HK$31.8m | HK$153.8m | HK$1.38bn | HK$163.8m | HK$55.4m | HK$242.0m | HK$462.4m |
| Total liabilities | HK$3.52bn | HK$3.18bn | HK$3.21bn | HK$3.16bn | HK$3.32bn | HK$4.29bn | HK$2.64bn | HK$2.29bn | HK$3.37bn | HK$819.9m |
| Debt | HK$3.16bn | HK$2.86bn | HK$2.86bn | HK$2.82bn | HK$2.92bn | HK$3.91bn | HK$2.33bn | HK$1.98bn | HK$2.20bn | HK$86.9m |
| Shareholders' equity | −HK$1.49bn | −HK$927.4m | −HK$396.3m | HK$191.3m | HK$186.4m | HK$396.8m | HK$775.1m | HK$1.02bn | HK$987.4m | HK$1.01bn |
| Shares outstanding | 647m | 647m | 647m | 538m | 416m | 381m | 381m | 381m | 350m | 308m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$5.8m | −HK$45.9m | −HK$2.6m | −HK$93.9m | −HK$112.0m | HK$54.8m | HK$11.9m | −HK$91.0m | HK$108.1m | HK$44.3m |
| Capital spending | −HK$167,000 | −HK$168,000 | −HK$3.6m | −HK$3.5m | −HK$3.4m | −HK$104.7m | −HK$85.8m | −HK$86.4m | −HK$17.8m | −HK$448,000 |
| Free cash flow | −HK$6.0m | −HK$46.1m | −HK$6.3m | −HK$97.4m | −HK$115.4m | −HK$49.9m | −HK$73.9m | −HK$177.4m | HK$90.3m | HK$43.8m |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Jun 2023 | Mar 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$43.9m | HK$67.6m | HK$48.9m | HK$58.1m | HK$68.6m | HK$34.3m | HK$54.2m | HK$27.1m |
| Operating income | HK$6.8m | −HK$44.9m | HK$8.6m | −HK$74.1m | −HK$27.3m | −HK$51.9m | −HK$17.4m | −HK$49.0m |
| Net income | HK$450.5m | −HK$412.0m | −HK$180.2m | −HK$390.9m | −HK$160.9m | −HK$79.8m | −HK$336.1m | −HK$168.6m |
| Diluted earnings per share | 0.69 | -0.64 | -0.27 | -0.60 | -0.25 | -0.12 | -0.52 | -0.26 |
| Total assets | HK$252.0m | HK$2.03bn | HK$2.22bn | HK$2.26bn | HK$2.58bn | HK$2.58bn | HK$2.82bn | HK$2.82bn |
| Cash and short-term investments | HK$14.3m | HK$23.4m | HK$19.5m | HK$19.0m | HK$33.7m | HK$47.1m | HK$32.9m | HK$44.4m |
| Debt | HK$720.2m | HK$1.65bn | HK$1.54bn | HK$1.48bn | HK$2.69bn | HK$2.69bn | HK$2.74bn | HK$2.74bn |
| Shareholders' equity | −HK$586.7m | −HK$1.49bn | −HK$1.11bn | −HK$927.4m | −HK$582.2m | −HK$582.3m | −HK$396.3m | −HK$397.8m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | 5.8% | 0.3% | 6.5% |
| Operating income | -11.4% | 15.7% | — |
| Net income | 16.8% | 23.9% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -65.0% | -77.0% | -73.1% | -34.8% |
| Net margin | -432.1% | -385.4% | -334.9% | -215.6% |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.3 | -1.0 | -1.6 | -2.6 | -1.3 | -3.6 | -4.0 | -6.1 | -3.8 | 10.0 |
| Price to sales | 1.4 | 4.2 | 5.6 | 8.3 | 4.3 | 5.3 | 3.2 | 24.3 | 3.5 | 2.7 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 22 Aug 2013.
| FY2014 | FY2013 | FY2012 | FY2010 | FY2009 | FY2008 | FY2000 | FY1999 | |
|---|---|---|---|---|---|---|---|---|
| Paid in the year | 0.10 | 0.15 | 0.15 | 0.15 | 0.15 | 0.15 | 0.031 | 0.094 |
- 5-to-1 reverse split · 2 Mar 2021
- 11-for-10 split · 22 Jul 2005
- 11-for-10 split · 27 Jul 2004
- 11-for-10 split · 29 Jul 2003
- 6-for-5 split · 26 Jul 2000
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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