A 
0.23
0.00%
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$40.5m
FY2016FY2025
Net income
−HK$197.3m
FY2016FY2025
Free cash flow
−HK$18.9m
FY2016FY2025
Shareholders' equity
−HK$69.9m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$40.5m | HK$96.3m | HK$363.1m | HK$438.4m | HK$268.1m | HK$147.9m | HK$351.4m | HK$293.3m | HK$178.8m | HK$99.2m |
| Operating income | −HK$198.8m | −HK$33.9m | HK$19.2m | HK$16.9m | −HK$14.2m | −HK$32.4m | HK$30.4m | HK$28.8m | HK$15.9m | HK$8.9m |
| Net income | −HK$197.3m | −HK$38.3m | HK$1.3m | −HK$31.6m | −HK$15.0m | −HK$88.1m | HK$28.8m | −HK$175.6m | HK$10.7m | HK$2.9m |
| Diluted earnings per share | -0.56 | -0.11 | -0.01 | -0.10 | -0.05 | -0.29 | 0.10 | -1.47 | 0.24 | 0.06 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$149.6m | HK$198.3m | HK$270.4m | HK$178.8m | HK$239.5m | HK$166.3m | HK$360.8m | HK$175.8m | HK$709.0m | HK$707.4m |
| Cash and short-term investments | HK$10.7m | HK$47.3m | HK$13.7m | HK$20.9m | HK$70.4m | HK$27.9m | HK$34.4m | HK$35.5m | HK$30.1m | HK$10.8m |
| Total liabilities | HK$219.5m | HK$80.1m | HK$111.6m | HK$62.5m | HK$89.0m | HK$54.9m | HK$104.5m | HK$65.3m | HK$694.0m | HK$703.1m |
| Debt | HK$69.6m | HK$34.2m | HK$47.9m | HK$2.5m | HK$2.3m | HK$13.3m | HK$22.2m | — | HK$636.1m | HK$637.6m |
| Shareholders' equity | −HK$69.9m | HK$118.2m | HK$158.8m | HK$116.4m | HK$150.5m | HK$111.4m | HK$256.3m | HK$110.4m | HK$15.0m | HK$4.4m |
| Shares outstanding | 349m | 349m | 345m | 314m | 312m | 297m | 263m | 120m | 45m | 48m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$18.3m | HK$43.8m | −HK$96.5m | −HK$48.6m | HK$46.6m | −HK$16.3m | −HK$13.4m | −HK$55.7m | — | — |
| Capital spending | −HK$641,000 | −HK$12,000 | — | −HK$44,000 | — | — | −HK$5,000 | −HK$869,000 | — | — |
| Free cash flow | −HK$18.9m | HK$43.8m | −HK$96.5m | −HK$48.6m | HK$46.6m | −HK$16.3m | −HK$13.4m | −HK$56.6m | — | — |
Latest quarters
By quarter end
| Sept 2025 | Mar 2025 | Sept 2024 | Mar 2024 | Sept 2023 | Mar 2023 | Sept 2022 | Mar 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$20.3m | HK$23.5m | HK$17.0m | HK$869,000 | HK$95.4m | HK$126.2m | HK$236.9m | HK$197.2m |
| Operating income | −HK$17.5m | −HK$175.7m | −HK$23.0m | −HK$11.2m | −HK$22.7m | −HK$8.4m | HK$34.1m | HK$2.3m |
| Net income | −HK$22.8m | −HK$172.7m | −HK$24.6m | −HK$4.6m | −HK$33.7m | −HK$19.2m | HK$20.5m | −HK$27.4m |
| Diluted earnings per share | -0.06 | -0.49 | -0.07 | -0.01 | -0.10 | -0.06 | 0.05 | -0.08 |
| Cash from operations | — | −HK$17.0m | −HK$1.0m | HK$45.0m | −HK$1.0m | HK$15.0m | −HK$111.0m | −HK$17.0m |
| Total assets | HK$137.4m | HK$149.6m | HK$185.9m | HK$198.3m | HK$229.4m | HK$270.4m | HK$290.0m | HK$178.8m |
| Cash and short-term investments | HK$11.9m | HK$10.7m | HK$30.6m | HK$47.3m | HK$928,000 | HK$13.7m | HK$4.1m | HK$20.9m |
| Debt | HK$52.7m | HK$50.4m | HK$35.0m | HK$33.5m | HK$38.4m | HK$47.5m | HK$46.8m | HK$1.2m |
| Shareholders' equity | −HK$99.3m | −HK$69.9m | HK$97.3m | HK$118.2m | HK$122.0m | HK$158.8m | HK$181.3m | HK$116.4m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -54.8% | -22.8% | — |
| Operating income | — | 43.7% | 36.6% |
| Net income | 84.0% | 17.5% | -6.6% |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Operating margin | -170.0% | -20.9% | -18.0% | — |
| Net margin | -172.2% | -28.3% | -27.2% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Price to earnings | -0.4 | -2.0 | 43.7 | -6.8 | -15.9 | -2.0 | 8.3 | -1.0 | 5.0 | 32.0 |
| Price to sales | 1.8 | 0.8 | 0.2 | 0.5 | 0.9 | 1.2 | 0.7 | 0.6 | 0.3 | 0.9 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years.
- 20-to-1 reverse split · 17 Oct 2017
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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