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KPIsSections24
| Revenue — GREEN | HK$25.1M | +51.1% YoY |
|---|---|---|
| Gross margin — GREEN | 17.3% | |
| Net income — GREEN | -HK$13.1M | -119.2% YoY |
| Net margin — GREEN | -52.3% | |
| Operating margin — RED | -27.3% |
Red flags3 red1 orange
Liquidity4
RED
Negative operating cash flow
operating_cf_burnThe company is burning cash from operations — sustainability depends on financing.
RED
Net margin -52.3%
net_margin_sharply_negativeNet income margin below -5% — profitability materially negative vs revenue.
RED
Cash conversion (CFO/Rev) -62.0%
cash_conversion_weakCFO/Revenue below 0 — operating model not generating cash despite revenue.
ORANGE
Cash runway ~2.3 years
cash_runway_mediumCash runway is 2–3 years — worth monitoring vs growth plans.
Income Statement
| Metric | Value | Flag |
|---|---|---|
| Revenue | HK$25.1M | GREEN |
| Gross Margin | 17.3% | GREEN |
| Operating Margin | -27.3% | RED |
| Net Margin | -52.3% | GREEN |
| Net Income | -HK$13.1M | GREEN |
| EPS (diluted) | $-1.24 | GREEN |
Balance Sheet
| Metric | Value | Flag |
|---|---|---|
| Total Assets | HK$65.1M | GREEN |
| Total Equity | HK$54.5M | GREEN |
Cash Flow
| Metric | Value | Flag |
|---|---|---|
| Operating CF | -HK$15.5M | GREEN |
| Cash Conversion (CFO/Rev) | -0.62 | GREEN |
| Free Cash Flow | -HK$24.1M | GREEN |
Sections in this filing
Key Information / Risk Factors
ITEM 3. KEY INFORMATION 3.A. [Reserved] 3.B. Capitalization and Indebtedness Not applicable. 3.C. Reasons for the Offer and Use of Proceeds Not applicable. 3.D. Risk Factors An investment in our securities involves risks and uncertainties. You should consider carefully the risks described below, as well as all other information contained in this Annual Report, before you decide to invest in our securities. Additional risks and uncertainties of which we are not presently aware or currently deem immaterial could also affect our business, financial condition, and results of operations. If any of these risks and uncertainties actually occurs, our business, financial condition and results of operations could be materially and adversely affected. In that event, the trading price of our securities would likely decline and you might lose all or part of your investment. You should only consider investing in our securities if you can bear the risk of loss of your entire investment. Summary of Significant Risk Factors Our business is subject to a number of risks and uncertainties, including risks that may prevent us from achieving our business objectives or may materially and adversely affect our business, financial condition, results of operations, cash flows, and prospects. These risks are discussed more fully below and include, but are not limited to, the following: Risks Related to Our Business and Industry ● Our expansion plan may not be successfully implemented or achieve the intended economic results or business objectives. ● We are subject to concentration risk because a significant portion of our revenue is derived from a few customers. ● We rely heavily on a limited number of external suppliers of raw materials in order to produce PCM. ● We rely on our suppliers to provide certain essential machinery and equipment for our customized energy saving system. ● We rely on our sub-contractors to install our customized energy saving system at our customers’ designated sites. Field: Page; Sequence: 5; Options: NewSection; Value: 1 Field: Sequence; Type: Arabic; Name: PageNo 1 Field: /Sequence Field: /Page ● We may suffer from unexpected disruptions to our research and development, production of PCM, and provision of energy saving services as our laboratory equipment, production facilities and customized energy saving system may fail to perform as we expected. ● A sus