| Market Cap | — | |
| Enterprise Value | — | |
| Revenue | HKD 22.85B | +68.1% |
| Gross Profit | HKD 19.90B | +78.6% |
| EBITDA | HKD 14.15B | +111.5% |
| Net Income | HKD 11.34B | +108.3% |
| Diluted EPS | HKD 10.03 | +106.4% |
| Free Cash Flow | HKD 40.73B | +32.1% |
| DPS (FY2025) | HKD 1.90derived |
| Trailing yield | — |
| Payout ratio | 19.0% |
| Growth streak | 0 yrs |
| 5y DPS growth | — |
| Fiscal year | DPS | YoY | Basis |
|---|---|---|---|
| FY20252025-12-31 | HKD 1.90 | — | derived (paid ÷ diluted shares) |
| Ratio | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | Trend · 9y | vs own | vs sector |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| ▾Margins | ||||||||||||
| Gross Margin | 64.99% | 69.24% | 73.46% | 78.98% | 83.05% | 86.92% | 84.65% | 82.01% | 87.12% | 94% | 66% | |
| Operating Margin | 1.08% | 24.75% | 16.81% | 43.81% | 44.73% | 46.87% | 50.03% | 48.72% | 61.63% | 94% | 95% | |
| EBITDA Margin | 2.46% | 25.78% | 18.37% | 44.64% | 45.24% | 47.59% | 50.64% | 49.24% | 61.95% | 94% | 82% | |
| NOPAT Margin | 0.00% | 17.07% | 15.66% | 40.05% | 39.46% | 41.10% | 42.60% | 41.28% | 51.03% | 94% | 82% | |
| Net Margin | −2.60% | 17.07% | 15.61% | 40.04% | 39.50% | 38.44% | 42.78% | 40.05% | 49.62% | 94% | 94% | |
| FCF Margin | 592.92% | 548.64% | 174.38% | 616.53% | 83.50% | 44.45% | −64.10% | 226.85% | 178.29% | 50% | 97% | |
| FCFF Margin | 592.92% | 556.77% | 182.20% | 621.64% | 88.18% | 47.82% | −56.35% | — | — | — | — | |
| OCF Margin | 595.30% | 550.96% | 185.52% | 617.87% | 84.49% | 45.64% | −63.32% | 228.08% | 178.53% | 39% | 97% | |
| Gross Profitability | — | 3.50% | 3.64% | 3.67% | 5.82% | 7.00% | 8.72% | 7.02% | 8.71% | 81% | 38% | |
| Capex Intensity | 2.38% | 2.32% | 11.15% | 1.35% | 0.99% | 1.19% | 0.78% | 1.23% | 0.24% | 6% | 11% | |
| ▸Returns on Capital · 3 ratios | ||||||||||||
| ▸DuPont factors (ROE drivers) · 4 ratios | ||||||||||||
| ▸Earnings quality · 6 ratios | ||||||||||||
| ▸Liquidity & coverage · 5 ratios | ||||||||||||
| ▸Leverage · 2 ratios | ||||||||||||
| ▸Working capital · 1 ratios | ||||||||||||
| ▸Capital allocation · 4 ratios | ||||||||||||
| ▸Per share · 6 ratios | ||||||||||||
The five drivers multiply to 33.4% vs reported ROE 33.3%. High ROE from margin and turnover is earned; from the equity multiplier it is borrowed.
| Line | 2017↗ | 2018↗ | 2019↗ | 2020↗ | 2021↗ | 2022↗ | 2023↗ | 2024↗ | 2025↗ |
|---|---|---|---|---|---|---|---|---|---|
| Revenue | HKD 311.7M | HKD 811.3M | HKD 1.06B | HKD 3.31B | HKD 7.12B | HKD 7.61B | HKD 10.01B | HKD 13.59B | HKD 22.85B |
| YoY % | +160.3% | +30.8% | +211.9% | +114.9% | +7.0% | +31.4% | +35.8% | +68.1% | |
| Cost of Revenue | HKD 109.1M | HKD 249.6M | HKD 281.7M | HKD 696.0M | HKD 1.21B | HKD 996.1M | HKD 1.54B | HKD 2.45B | HKD 2.94B |
| YoY % | +128.8% | +12.9% | +147.1% | +73.3% | -17.4% | +54.2% | +59.2% | +20.3% | |
| Gross Profit | HKD 202.6M | HKD 561.7M | HKD 779.9M | HKD 2.61B | HKD 5.91B | HKD 6.62B | HKD 8.47B | HKD 11.14B | HKD 19.90B |
| YoY % | +177.3% | +38.8% | +235.3% | +126.0% | +12.0% | +28.0% | +31.5% | +78.6% | |
| R&D Expense | HKD 95.5M | HKD 151.1M | HKD 262.3M | HKD 513.3M | HKD 805.3M | HKD 1.22B | HKD 1.44B | HKD 1.49B | HKD 1.91B |
| YoY % | +58.2% | +73.6% | +95.7% | +56.9% | +51.7% | +17.9% | +3.7% | +27.8% | |
| Selling & Marketing Expense | HKD 41.4M | HKD 98.1M | HKD 164.7M | HKD 385.3M | HKD 1.39B | HKD 895.8M | HKD 710.3M | HKD 1.41B | HKD 1.98B |
| YoY % | +136.6% | +68.0% | +134.0% | +261.3% | -35.7% | -20.7% | +98.4% | +40.5% | |
| SG&A Expense | HKD 57.3M | HKD 103.8M | HKD 164.8M | HKD 248.4M | HKD 529.0M | HKD 931.1M | HKD 1.31B | HKD 1.62B | HKD 1.93B |
| YoY % | +81.2% | +58.8% | +50.7% | +113.0% | +76.0% | +41.1% | +23.3% | +19.4% | |
| Total Operating Expenses | HKD 194.3M | HKD 353.0M | HKD 591.9M | HKD 1.15B | HKD 2.73B | HKD 3.05B | HKD 3.46B | HKD 4.52B | HKD 5.82B |
| YoY % | +81.7% | +67.7% | +93.8% | +137.7% | +11.8% | +13.6% | +30.5% | +28.8% | |
| Operating Income | HKD 3.4M | HKD 200.8M | HKD 178.5M | HKD 1.45B | HKD 3.18B | HKD 3.57B | HKD 5.01B | HKD 6.62B | HKD 14.08B |
| YoY % | +5844.3% | -11.1% | +712.7% | +119.4% | +12.1% | +40.3% | +32.2% | +112.6% | |
| Interest Expense | HKD 19.9M | HKD 95.6M | HKD 89.2M | HKD 185.1M | HKD 376.9M | HKD 292.5M | HKD 910.8M | — | — |
| YoY % | +381.0% | -6.7% | +107.4% | +103.6% | -22.4% | +211.4% | |||
| Other Non-Operating Income | -HKD 4.9M | -HKD 8.0M | -HKD 9.5M | -HKD 17.2M | HKD 2.5M | -HKD 210.3M | HKD 33.4M | -HKD 86.4M | -HKD 367.4M |
| Equity Method Income | — | — | -HKD 543,000 | -HKD 307,000 | HKD 0 | -HKD 17.8M | -HKD 13.5M | -HKD 103.9M | -HKD 51.6M |
| Pretax Income | HKD 3.4M | HKD 200.8M | HKD 178.5M | HKD 1.45B | HKD 3.19B | HKD 3.36B | HKD 5.04B | HKD 6.54B | HKD 13.71B |
| YoY % | +5844.3% | -11.1% | +712.7% | +119.6% | +5.4% | +50.1% | +29.6% | +109.8% | |
| Income Tax | HKD 11.5M | HKD 62.3M | HKD 12.3M | HKD 124.8M | HKD 375.1M | HKD 414.0M | HKD 748.5M | HKD 998.3M | HKD 2.36B |
| YoY % | +442.6% | -80.3% | +915.7% | +200.6% | +10.4% | +80.8% | +33.4% | +136.4% | |
| Net Income (incl. NCI) | -HKD 8.1M | HKD 138.5M | HKD 165.7M | HKD 1.33B | HKD 2.81B | HKD 2.93B | HKD 4.28B | HKD 5.43B | HKD 11.30B |
| YoY % | +19.6% | +700.1% | +112.0% | +4.2% | +46.2% | +27.0% | +108.0% | ||
| Minority Interest (P&L) | — | — | — | — | — | -HKD 51,000 | -HKD 2.5M | -HKD 10.0M | -HKD 35.8M |
| Net Income | -HKD 8.1M | HKD 138.5M | HKD 165.7M | HKD 1.33B | HKD 2.81B | HKD 2.93B | HKD 4.28B | HKD 5.44B | HKD 11.34B |
| YoY % | +19.6% | +700.1% | +112.0% | +4.2% | +46.3% | +27.1% | +108.3% | ||
| Net Income to Common | -HKD 55.8M | HKD 36.9M | HKD 143.2M | HKD 1.33B | HKD 2.81B | HKD 2.93B | HKD 4.28B | HKD 5.44B | HKD 11.34B |
| YoY % | +287.6% | +825.9% | +112.0% | +4.2% | +46.3% | +27.1% | +108.3% | ||
| EPS (Basic) | -HKD 0.14 | HKD 0.09 | HKD 0.17 | HKD 1.28 | HKD 2.34 | HKD 2.57 | HKD 3.88 | HKD 4.93 | HKD 10.17 |
| YoY % | +88.9% | +652.9% | +82.8% | +9.8% | +51.0% | +27.1% | +106.3% | ||
| EPS (Diluted) | -HKD 0.14 | HKD 0.07 | HKD 0.16 | HKD 1.26 | HKD 2.30 | HKD 2.54 | HKD 3.82 | HKD 4.86 | HKD 10.03 |
| YoY % | +128.6% | +687.5% | +82.5% | +10.4% | +50.4% | +27.2% | +106.4% | ||
| Weighted Avg Shares (Basic) | 403.8M | 403.8M | 832.8M | 1.04B | 1.20B | 1.14B | 1.10B | 1.10B | 1.11B |
| YoY % | 0.0% | +106.3% | +24.5% | +15.8% | -5.1% | -3.0% | -0.1% | +0.9% | |
| Weighted Avg Shares (Diluted) | 403.8M | 511.5M | 917.9M | 1.05B | 1.22B | 1.15B | 1.12B | 1.12B | 1.13B |
| YoY % | +26.7% | +79.4% | +14.4% | +16.1% | -5.6% | -2.7% | +0.1% | +0.9% |
The sector classification is SIC-derived, not official GICS. Statement lines are XBRL facts as filed with the company's home regulator (SEC EDGAR for US filers; ESEF/EDINET and other national regulators for foreign filers); ratios and other derived figures are computed from them. A blank cell means the tag was absent — never imputed.
