W 
0.99
—
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$855.0m
FY2016FY2025
Net income
−HK$31.2m
FY2016FY2025
Free cash flow
HK$49.2m
FY2016FY2025
Shareholders' equity
HK$189.5m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$855.0m | HK$1.26bn | HK$1.23bn | HK$1.34bn | HK$1.05bn | HK$819.5m | HK$980.8m | HK$1.26bn | HK$1.23bn | HK$687.7m |
| Gross profit | HK$132.2m | HK$247.9m | HK$210.6m | HK$195.0m | HK$194.3m | HK$156.9m | HK$226.2m | HK$295.6m | HK$252.4m | HK$135.7m |
| Operating income | −HK$43.3m | HK$98.8m | HK$21.4m | HK$32.1m | HK$35.0m | HK$14.7m | HK$63.3m | HK$118.6m | HK$95.4m | HK$4.7m |
| Net income | −HK$31.2m | HK$72.2m | HK$1.2m | HK$15.1m | HK$20.1m | HK$1.5m | HK$33.4m | HK$77.0m | HK$74.2m | HK$982,000 |
| Diluted earnings per share | -0.31 | 0.72 | 0.01 | 0.15 | 0.20 | 0.01 | 0.33 | 1.03 | 0.74 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$699.6m | HK$933.5m | HK$965.6m | HK$977.5m | HK$897.2m | HK$745.6m | HK$611.7m | HK$943.6m | HK$881.1m | HK$509.8m |
| Cash and short-term investments | HK$264.6m | HK$305.1m | HK$274.6m | HK$242.2m | HK$207.3m | HK$234.4m | HK$138.6m | HK$46.2m | HK$94.4m | HK$33.8m |
| Total liabilities | HK$510.2m | HK$712.4m | HK$815.3m | HK$821.5m | HK$744.5m | HK$607.9m | HK$559.5m | HK$818.9m | HK$827.6m | HK$504.9m |
| Debt | HK$139.4m | HK$261.4m | HK$379.3m | HK$313.3m | HK$282.8m | HK$300.2m | HK$314.5m | HK$457.0m | HK$320.8m | HK$231.1m |
| Shareholders' equity | HK$189.5m | HK$221.1m | HK$150.3m | HK$156.0m | HK$152.7m | HK$137.7m | HK$52.2m | HK$124.7m | HK$53.5m | HK$5.0m |
| Shares outstanding | 100m | 100m | 100m | 100m | 100m | 100m | 100m | 75m | 100m | 100m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | HK$61.8m | HK$164.0m | HK$91.8m | HK$88.0m | HK$34.3m | HK$48.3m | HK$137.3m | −HK$553,000 | HK$72.3m | HK$21.4m |
| Capital spending | −HK$12.6m | −HK$13.8m | −HK$13.8m | −HK$14.6m | −HK$16.9m | −HK$19.4m | −HK$19.4m | −HK$23.1m | −HK$37.3m | −HK$23.8m |
| Free cash flow | HK$49.2m | HK$150.2m | HK$78.0m | HK$73.4m | HK$17.5m | HK$28.9m | HK$117.9m | −HK$23.7m | HK$35.0m | −HK$2.4m |
| Dividends paid | — | — | −HK$5.0m | −HK$5.0m | −HK$10.0m | −HK$20.0m | −HK$20.0m | −HK$30.0m | −HK$30.0m | −HK$30.0m |
Latest quarters
By quarter end
| Jun 2026 | Dec 2025 | Jun 2025 | Dec 2024 | Jun 2024 | Dec 2023 | Jun 2023 | Dec 2022 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$311.7m | HK$385.1m | HK$469.9m | HK$697.3m | HK$563.5m | HK$680.6m | HK$546.6m | HK$787.7m |
| Gross profit | HK$37.0m | HK$53.5m | HK$78.7m | HK$139.5m | HK$108.4m | HK$134.1m | HK$76.6m | HK$121.2m |
| Operating income | −HK$50.1m | −HK$39.0m | HK$18.2m | HK$70.4m | HK$28.4m | HK$51.0m | −HK$1.3m | HK$35.9m |
| Net income | −HK$54.6m | −HK$45.5m | HK$14.3m | HK$56.5m | HK$15.7m | HK$2.8m | −HK$1.6m | HK$11.6m |
| Diluted earnings per share | -0.55 | -0.46 | 0.14 | 0.57 | 0.16 | 0.03 | -0.02 | 0.12 |
| Cash from operations | — | −HK$9.0m | HK$71.0m | HK$87.0m | HK$62.0m | HK$57.0m | HK$22.0m | HK$39.0m |
| Capital spending | — | −HK$7.0m | −HK$4.0m | −HK$9.0m | −HK$4.0m | −HK$9.0m | −HK$4.0m | −HK$10.0m |
| Free cash flow | — | −HK$16.0m | HK$67.0m | HK$78.0m | HK$58.0m | HK$48.0m | HK$18.0m | HK$29.0m |
| Total assets | HK$549.3m | HK$699.6m | HK$806.5m | HK$933.5m | HK$949.6m | HK$965.6m | HK$913.9m | HK$977.5m |
| Cash and short-term investments | HK$195.1m | HK$264.6m | HK$320.0m | HK$305.1m | HK$275.4m | HK$274.6m | HK$207.9m | HK$242.2m |
| Debt | HK$78.9m | HK$139.4m | HK$184.9m | HK$261.4m | HK$326.0m | HK$379.3m | HK$349.9m | HK$313.3m |
| Shareholders' equity | HK$135.7m | HK$189.5m | HK$234.8m | HK$221.1m | HK$164.6m | HK$150.3m | HK$147.6m | HK$156.0m |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -13.5% | 1.0% | — |
Average margins
Over each period
| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Gross margin | 18.0% | 16.8% | 17.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -3.3 | 0.9 | 41.8 | 6.3 | 9.5 | 125.4 |
| Price to sales | 0.1 | 0.1 | 0.0 | 0.1 | 0.2 | 0.2 |
Dividends and splits
Per share, in the currency the company pays
Paid for 0 years. Last went ex-dividend on 6 Jun 2023.
| FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|
| Paid in the year | 0.05 | 0.05 | 0.10 | 0.20 |
- 20-to-1 reverse split · 16 Sept 2022
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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