S 
1.19
-0.83%
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$66.3m
FY2016FY2025
Net income
−HK$18.9m
FY2016FY2025
Free cash flow
−HK$2.2m
FY2016FY2025
Shareholders' equity
HK$193.3m
FY2016FY2025
Income statement
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | HK$66.3m | HK$91.7m | HK$258.9m | HK$281.3m | HK$182.2m | HK$66.8m | HK$197.2m | HK$179.8m | HK$201.9m | HK$135.7m |
| Operating income | −HK$19.0m | HK$607,000 | −HK$2.4m | HK$7.2m | −HK$4.9m | −HK$15.4m | HK$43.1m | HK$47.2m | HK$45.7m | HK$29.4m |
| Net income | −HK$18.9m | HK$3.8m | −HK$8.0m | −HK$6.7m | −HK$5.0m | −HK$19.2m | HK$19.7m | HK$40.3m | HK$37.8m | HK$18.7m |
| Diluted earnings per share | -0.01 | 0.00 | -0.00 | -0.00 | -0.00 | -0.01 | 0.01 | 0.02 | 0.02 | 0.01 |
Balance sheet
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Total assets | HK$226.4m | HK$257.6m | HK$259.9m | HK$268.5m | HK$265.1m | HK$258.9m | HK$201.3m | HK$169.0m | HK$132.3m | HK$117.5m |
| Cash and short-term investments | HK$63.9m | HK$72.1m | HK$56.1m | HK$40.8m | HK$66.4m | HK$106.4m | HK$39.9m | HK$33.8m | HK$55.0m | HK$42.6m |
| Total liabilities | HK$33.1m | HK$44.7m | HK$50.8m | HK$51.3m | HK$41.2m | HK$34.5m | HK$54.3m | HK$41.7m | HK$31.7m | HK$54.7m |
| Debt | HK$711,000 | HK$5.8m | HK$6.9m | HK$8.0m | HK$8.6m | HK$813,600 | HK$1.3m | HK$672,000 | HK$802,000 | HK$819,000 |
| Shareholders' equity | HK$193.3m | HK$212.9m | HK$209.1m | HK$217.1m | HK$223.8m | HK$224.4m | HK$147.0m | HK$127.3m | HK$100.6m | HK$62.8m |
| Shares outstanding | 2,000m | 2,000m | 2,000m | 2,000m | 2,000m | 2,001m | 1,500m | 2,000m | 1,667m | 1,663m |
Cash flow
Fiscal years
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash from operations | −HK$1.4m | −HK$1.4m | HK$15.1m | −HK$5.2m | −HK$41.4m | −HK$48.8m | HK$16.3m | HK$18.4m | HK$28.0m | HK$24.4m |
| Capital spending | −HK$751,000 | −HK$191,000 | −HK$302,000 | −HK$489,000 | −HK$23.3m | −HK$1.3m | −HK$300,969 | −HK$14.2m | −HK$16,504 | −HK$236,051 |
| Free cash flow | −HK$2.2m | −HK$1.6m | HK$14.8m | −HK$5.7m | −HK$64.7m | −HK$50.1m | HK$16.0m | HK$4.2m | HK$28.0m | HK$24.2m |
Latest quarters
By quarter end
| Jun 2026 | Mar 2026 | Dec 2025 | Sept 2025 | Jun 2025 | Mar 2025 | Dec 2024 | Sept 2024 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | HK$19.4m | HK$19.4m | HK$22.4m | HK$22.4m | HK$10.8m | HK$10.8m | HK$20.4m | HK$20.4m |
| Operating income | −HK$24.3m | −HK$24.3m | −HK$9.4m | −HK$9.4m | −HK$119,499 | −HK$119,499 | HK$5.3m | HK$5.3m |
| Net income | −HK$26.7m | −HK$26.7m | −HK$9.5m | −HK$9.5m | HK$110,000 | HK$110,000 | HK$5.6m | HK$5.6m |
| Diluted earnings per share | -0.01 | -0.01 | -0.00 | -0.00 | 0.00 | 0.00 | 0.00 | 0.00 |
| Cash from operations | — | — | −HK$20.0m | −HK$20.0m | HK$18.0m | HK$18.0m | −HK$5.0m | −HK$5.0m |
| Total assets | HK$245.0m | HK$245.0m | HK$226.4m | HK$226.4m | HK$244.9m | HK$244.9m | HK$257.6m | HK$257.6m |
| Cash and short-term investments | HK$33.1m | HK$33.1m | HK$62.6m | HK$63.7m | HK$112.6m | HK$112.6m | HK$72.1m | HK$72.1m |
| Debt | HK$677,000 | HK$677,000 | HK$1.0m | HK$711,000 | HK$5.7m | HK$1.2m | HK$6.1m | HK$1.2m |
| Shareholders' equity | HK$148.1m | HK$148.1m | HK$193.3m | HK$193.3m | HK$213.2m | HK$213.2m | HK$212.9m | HK$212.9m |
Financial ratios
Data as of 5 Nov 2026
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Operating margin | -28.6% | 4.4% | -3.1% | -2.5% | -2.6% | -27.5% |
| Net margin | -28.5% | 4.1% | -3.1% | -2.4% | -2.7% | -28.8% |
| Return on equity | -9.8% | 1.8% | -3.8% | -3.1% | -2.2% | -8.6% |
| Return on assets | -8.3% | 1.5% | -3.1% | -2.5% | -1.9% | -7.4% |
| Free cash flow yield | -0.0% | -0.1% | 0.6% | -0.2% | -0.7% | -1.9% |
| Revenue growth | -27.8% | -64.6% | -8.0% | 54.4% | 172.6% | -66.1% |
| Earnings growth | -595.9% | -147.7% | 18.4% | 35.4% | -74.2% | -197.7% |
| Current ratio | 6.14x | 5.74x | 5.06x | 5.21x | 6.63x | 7.09x |
| Debt to equity | 0.00x | 0.03x | 0.03x | 0.03x | 0.04x | 0.00x |
| Equity ratio | 85.4% | 82.7% | 80.5% | 80.9% | 84.5% | 86.7% |
| Interest coverage | -98.81x | 16.18x | -28.88x | -27.51x | -18.75x | -201.18x |
| Buybacks as a share of market value | 0.0% | 0.0% | 0.0% | 0.0% | 0.0% | -33.4% |
Growth per year
Compound annual rate
| 3 years | 5 years | 10 years | |
|---|---|---|---|
| Revenue | -38.0% | 0.0% | — |
| Operating income | — | 4.3% | — |
| Net income | 41.0% | -0.4% | — |
Valuation history
At each fiscal year end
| FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | |
|---|---|---|---|---|---|---|
| Price to earnings | -60.5 | 25.8 | -12.3 | -20.5 | -28.2 | -9.1 |
| Price to sales | 17.1 | 1.1 | 0.4 | 0.5 | 0.8 | 2.6 |
Sources and methodology
- Data on this tab
- Our data supplier
- Chart on the Overview
- TradingView
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