The pic comes from Eternal 1966e's collection on Flickr where it is dated 1930's.
Stokes Bungalow is the dark building at the bottom of the photo with 274 The Peak (later 71 The Peak) the light coloured building above it. Ap Lei Chau is the large island on the right.
The matsheds in the upper left corner are on the site of Gough Hill Quarters which were built between 1923 and 1925, from which it would be possible to conclude that the pic was probably taken at that time. However, I think The Holy Spirit Seminary can be seen down in Aberdeen (if not The Holy Spirit Seminary then what is that building?) which wasn't built until 1931 so I'm confused about the date.
Date picture taken
1935
Gallery
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Comments
Buildings down in Aberdeen
I think they are the two blocks of four houses on Ap Lei Chau whose roofs can be seen peeping over the trees at far right of the c.1935 photo below. That would mean the photo above was taken several years earlier, and could be from the 1920s.