Financial Performance - The Group reported a turnover of HK$166.55 million for the six months ended 31 October 2022, representing a decrease of 29.43% compared to HK$236.01 million for the same period last year[5]. - The consolidated profit for the Period amounted to HK$33.43 million, an increase from HK$24.84 million in the corresponding period in 2021[5]. - Earnings per share for the Period was HK14.52 cents, up from HK12.13 cents in 2021[5]. - Total comprehensive income for the period was HK$36,319,000, compared to HK$24,772,000 in the prior year, reflecting a growth of 46.5%[78]. - Profit for the period increased to HK$33,429,000 for the six months ended 31 October 2022, compared to HK$24,837,000 in the same period of 2021, representing a growth of approximately 34.5%[131]. - Other income significantly increased to HK$18,424,000, compared to HK$4,473,000 in the same period last year, marking a growth of 312.5%[78]. Expenses and Costs - Staff costs decreased to HK$42.87 million, representing 25.74% of the Group's turnover, compared to 25.18% in the previous year[7]. - Other expenses decreased by 17.49% to HK$36.48 million, representing 21.90% of the Group's turnover, compared to 18.73% in the previous year[8]. - Repair and maintenance expenses were HK$11,474,000, a decrease of 28.8% from HK$16,097,000 in 2021[127]. Assets and Liabilities - The Group's cash and bank balances amounted to HK$72.65 million as at 31 October 2022, down from HK$85.78 million as of 30 April 2022[16]. - Total outstanding debts were HK$87.96 million as at 31 October 2022, a decrease from HK$113.58 million as of 30 April 2022[16]. - The gearing ratio was 19.56% as at 31 October 2022, down from 27.6% as of 30 April 2022[17]. - The total number of employees decreased to approximately 812 from 1,049 as of April 30, 2022[25][29]. - Trade receivables decreased significantly to HK$60,120,000 as of 31 October 2022, down from HK$117,383,000 as of 30 April 2022, indicating a reduction of approximately 48.8%[133]. - Trade payables decreased to HK$12,307,000 as of 31 October 2022, down from HK$36,862,000 as of 30 April 2022, a decline of about 66.7%[140]. Investments and Financial Assets - The net fair value gain on financial assets at fair value through profit or loss was approximately HK$30.54 million during the Period, compared to HK$27.87 million in 2021[15]. - The Group's financial assets at fair value through profit or loss (FVTPL) totaled HK$134.236 million, representing 21.9% of total assets as of October 31, 2022, up from 14.5% (HK$91.397 million) as of April 30, 2022[32]. - The Group's significant investments include listed equity securities, with WLS representing 9.1% of total assets as of October 31, 2022[32]. Share Capital and Options - The total number of shares available for issuance upon exercise of all options under the share option scheme is 22,562,211, which is 7.8% of the issued share capital as of the report date[58]. - The total outstanding share options for Directors at the end of the period was 5,124,998 shares after 7,200,000 shares were cancelled[62]. - The total number of share options across all categories was 23,945,832 shares after 18,000,000 shares were cancelled during the period[63]. - The share option scheme allows for a maximum of 10% of the shares in issue to be granted as options, excluding lapsed options[57]. Corporate Governance - The audit committee has reviewed the unaudited condensed consolidated financial statements for the six months ended 31 October 2022[73]. - The company has adopted its own Code on Corporate Governance Practices, ensuring compliance with the Corporate Governance Code[75]. - The company did not purchase, sell, or redeem any of its listed securities during the period[69]. Future Plans and Strategies - The Group plans to strengthen its engineering and production departments to enhance competitive advantages in lead times and production flexibility[40]. - The Group aims to improve operational performance by increasing production efficiency and capacity through resource allocation for upgrading existing machinery[41]. - The Group will explore additional business opportunities to expand its principal manufacturing business and enhance shareholder returns[42]. Taxation - The PRC Enterprise Income Tax rate for the reporting period was 25%[126]. - The company reported an income tax expense of HK$687,000 for the six months ended 31 October 2022, compared to HK$23,000 in 2021[123].

Financial Performance - The Group reported a revenue of HK$488.05 million for the year ended April 30, 2022, representing an increase of 32.51% compared to HK$368.32 million in the previous year[12]. - The consolidated profit for the year amounted to HK$10.10 million, a turnaround from a loss of HK$12.21 million in the previous year[12]. - Basic and diluted earnings per share were HK4.70 cents, compared to a loss of HK6.49 cents in the previous year[12]. - Recurring EBITDA for the year was HK$16.51 million, significantly up from HK$1.63 million in the previous year[12]. Expenses and Costs - Staff costs increased by 19.37% to HK$126.03 million, representing 25.82% of the Group's turnover[20]. - Other expenses decreased by 8.46% to HK$83.19 million, representing 17.04% of the Group's turnover[20]. - Employee costs increased by 19.37% to HK$126,030,000, accounting for 25.82% of the Group's revenue[25]. - Other expenses decreased by 8.46% to HK$83,190,000, representing 17.04% of the Group's revenue[25]. Financial Position - The gearing ratio improved to 27.6%, down from 31.8% in the previous year[8]. - As of April 30, 2022, the Group's bank balances and cash amounted to HK$85.78 million, a decrease from HK$187.72 million in 2021[45]. - The total outstanding debts as of April 30, 2022, were HK$113.58 million, down from HK$124.59 million in 2021[45]. - The Group incurred HK$58.56 million in interest-bearing debts as of April 30, 2022, down from HK$73.06 million in 2021[45]. - The Group's collateralized bank borrowings amounted to HK$38.37 million as of April 30, 2022, slightly down from HK$39.88 million in 2021[45]. Investments and Assets - The net fair value gain on financial assets at FVTPL was HK$17.12 million, primarily from investments in listed equity securities[21]. - The Group's fair value gain on financial assets amounted to HK$17,120,000, primarily from investments in New Tech[26]. - The financial asset at FVTPL held by the Group was valued at HK$91.40 million, representing 14.5% of total assets as of April 30, 2022[38]. - The Group's gross loan receivables amounted to HK$74.5 million, with an expected credit loss allowance of HK$14.7 million[29]. Business Strategy and Operations - The Group aims to strengthen its engineering and production departments to enhance competitive edges and expand market share[22]. - The Group will continue to enhance production efficiency and capacity to improve operational performance[27]. - The Group aims to explore additional business opportunities to expand its principal manufacturing business and enhance shareholder returns[28]. - The Group will adjust its workforce and employee structure to improve labor productivity and minimize the impact of rising operational costs[25]. Corporate Governance - The Company is committed to maintaining best practice standards of corporate governance, emphasizing quality Board and effective internal controls[73]. - The Company has complied with all code provisions set out in the Corporate Governance Code, with some deviations explained in relevant paragraphs[75]. - The Board is responsible for formulating the Group's strategy and policies, monitoring operational and financial performance, and approving major capital expenditures[76]. - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors as of April 30, 2022[86]. - The Company has established three Board committees: Audit Committee, Remuneration Committee, and Nomination Committee to oversee specific areas of the Group's affairs[78]. Risk Management and Internal Controls - The Board's risk management and internal control system was reviewed and deemed effective and adequate for the year ended 30 April 2022[170]. - An independent internal control review advisor was engaged to perform systematic audits covering financial, operational, and compliance controls[169]. - The management is tasked with evaluating the adequacy of the Group's risk management and internal control system, reporting deficiencies to the Audit Committee[168]. - The Group's risk management and internal control systems are deemed effective and adequate as of April 30, 2022[173]. Shareholder Relations and Dividends - The Directors do not recommend the payment of a dividend for the year[13]. - The company did not have reserves available for distribution to shareholders as of April 30, 2022[197]. - The board established a dividend policy in January 2019, aiming to provide stable and sustainable returns to shareholders[198]. - The board will consider actual and expected financial performance, capital and debt levels, and market conditions when deciding on dividend payments[198]. - The company has not declared or paid dividends due to the lack of distributable reserves[197].

Financial Performance - The Group reported a turnover of HK$236.01 million for the Period, representing an increase of 43.87% compared to HK$164.05 million for the same period last year[5]. - The consolidated profit for the Period amounted to HK$24.84 million, a significant recovery from a loss of HK$6.92 million in the corresponding period in 2020[5]. - Earnings per share for the Period was HK12.13 cents, compared to a loss per share of HK3.68 cents in 2020[5]. - Total comprehensive income for the period was HK$24,772,000, compared to a comprehensive loss of HK$7,005,000 in the same period last year[80]. - The company reported a profit of HK$24,837,000 for the six months ended October 31, 2021, compared to a loss of HK$6,919,000 for the same period in 2020[84]. Expenses and Costs - Staff costs increased to HK$59.42 million, representing 25.18% of the Group's turnover, slightly down from 25.34% in 2020[7]. - Other expenses rose by 19.93% to HK$44.21 million, accounting for 18.73% of turnover, down from 22.47% in 2020[8]. - Repair and maintenance expenses increased to HK$16,097,000 from HK$12,091,000, representing a rise of 33.0%[126]. - Finance costs rose slightly to HK$884,000 from HK$783,000, indicating a 12.9% increase year-over-year[80]. Assets and Liabilities - The Group's cash and bank balances amounted to HK$107.61 million as of 31 October 2021, down from HK$187.72 million on 30 April 2021[15]. - Total outstanding debts were HK$121.84 million as of 31 October 2021, a slight decrease from HK$124.59 million on 30 April 2021[15]. - The net current assets increased to HK$288,607,000 from HK$264,524,000, reflecting a growth of about 9.1%[82]. - Trade receivables as of 31 October 2021 totaled HK$96,769,000, an increase from HK$93,526,000 as of 30 April 2021, with receivables over 90 days amounting to HK$11,950,000[132]. - Trade payables amounted to HK$38,569,000 as of 31 October 2021, compared to HK$36,155,000 as of 30 April 2021, indicating a slight increase in liabilities[139]. Investments and Financial Assets - The net fair value gain on financial assets at fair value through profit or loss was approximately HK$27.87 million, compared to a loss of HK$11.13 million in 2020[14]. - The Group's financial assets at fair value through profit or loss (FVTPL) totaled approximately HK$101.28 million, representing 15.62% of total assets as of 31 October 2021, compared to 9.98% as of 30 April 2021[32]. - The Group's major investments include listed equity securities, with significant holdings in CIF, CPI, LGL, MSH, SMG, STL, and WLS[34][36]. - The fair value of equity securities listed in Hong Kong was HK$101,279,000, an increase from HK$61,023,000 as of 30 April 2021, representing a growth of 65.8%[157]. Corporate Governance and Compliance - The Company is committed to maintaining high standards of corporate governance, emphasizing effective internal controls and transparency[69][73]. - The Company adopted its own Code on Corporate Governance Practices, aligning with the principles set out in the Corporate Governance Code[70]. - The Audit Committee reviewed the Group's unaudited condensed consolidated financial statements for the six months ended October 31, 2021[68][72]. Share Capital and Options - As of October 31, 2021, Mr. Li Tung Lok holds a total of 5,755,271 shares, representing 3.90% of the issued share capital of the Company[51]. - The Company has granted a total of 41,945,832 share options under the share option scheme, which represents 18.6% of the issued share capital as of October 31, 2021[58]. - The total outstanding share options for Directors amounted to 12,324,998 shares[61]. - The total outstanding share options for Employees decreased to 29,620,834 shares after the cancellation of 13,333,334 options[62]. Market Presence and Revenue Segments - Revenue from the USA segment was HK$22,902,000, a significant increase of 197.5% from HK$7,694,000 in the previous year[103]. - The PRC segment generated revenue of HK$77,913,000, up 34.7% from HK$57,829,000 in 2020[103]. - The Group's customer base includes regions such as the USA, Hong Kong, Europe, and the PRC, indicating a diverse market presence[99].

Financial Performance - The Group reported a revenue of HK$368.32 million for the year ended 30 April 2021, representing an increase of 34.14% compared to HK$274.58 million in the previous year[12]. - The consolidated loss for the year was HK$12.21 million, a significant improvement from a loss of HK$68.15 million in the previous year[12]. - Basic and diluted loss per share decreased to HK6.49 cents from HK36.24 cents in the previous year[12]. - EBITDA for the year was HK$1.63 million, up from HK$0.68 million in the previous year[12]. - The Group did not recommend the payment of a dividend for the year[13]. - The Group's financial results for the year ended April 30, 2021, are detailed in the consolidated statement of profit or loss and other comprehensive income[186]. - The Directors do not recommend the payment of a dividend for the year ended April 30, 2021[190]. - The Company did not have reserves available for distribution to shareholders as of April 30, 2021[193]. - The Board will consider various factors, including financial performance and liquidity, when deciding on dividend payments[194]. - The Company does not have a pre-determined dividend distribution ratio, and past dividend levels do not guarantee future payments[198]. Expenses and Costs - Staff costs increased by 33.19% to HK$105.58 million, accounting for 28.67% of the Group's turnover[20]. - Other expenses rose by 10.72% to HK$90.87 million, representing 24.67% of the Group's turnover[20]. - The Group aims to tighten expenditure to minimize the impact of rising factory operating costs and administrative expenses[20]. - The Group's employee costs increased by 33.19% to HK$105.58 million, accounting for 28.67% of total revenue[22]. - Other expenses rose by 10.72% to HK$90.87 million, representing 24.67% of total revenue[22]. Assets and Liabilities - The gearing ratio increased to 31.8% from 14.9% in the previous year[8]. - The Group's total financial assets at FVTPL amounted to HK$61.02 million, which is approximately 9.98% of total assets[34]. - Total outstanding debts as of April 30, 2021, were HK$124.59 million, up from HK$59.65 million in 2020, including HK$39.88 million of collateralized bank borrowings[42]. - Interest-bearing debts included HK$73.06 million as of April 30, 2021, compared to HK$37.63 million in 2020[42]. - The amount due to a director increased to HK$43.46 million as of April 30, 2021, from HK$22.02 million in 2020[42]. - The increase in bank balances and cash was primarily due to an increase in collateralized bank borrowings by approximately HK$39.88 million[41]. - As of April 30, 2021, the Group's bank balances and cash amounted to HK$187.72 million, an increase from HK$154.89 million in 2020[42]. Corporate Governance - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors as of April 30, 2021[82]. - The Company has adopted its own corporate governance code, the "QPL Code," which complies with the Corporate Governance Code set out in the Listing Rules[72]. - The Company emphasizes quality Board, effective internal controls, stringent disclosure practices, and accountability to all Shareholders[71]. - The Board is responsible for formulating the Group's strategy, monitoring operational and financial performance, and approving major capital expenditures[73]. - The Company has established a policy for Directors to seek independent professional advice at the Company's expense[80]. - The independent non-executive Directors include members with extensive experience in finance, accounting, and risk management[68][69]. - The Company has three Board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, overseeing specific aspects of the Group's affairs[75]. - The Board's composition is reviewed periodically to ensure a balanced mix of skills and experience[81]. - The Company has complied with all code provisions of the Corporate Governance Code except for certain deviations explained in the report[72]. - The Chief Executive supervises the day-to-day management and operations of the Group's businesses[74]. - The Board has at least three independent non-executive Directors, representing at least one-third of the Board[89]. - Mr. Li Tung Lok has served as both Chairman and Chief Executive since the establishment of the Company in January 1989, enhancing decision-making efficiency[98]. - The Company has complied with the CG Code by ensuring that all independent non-executive Directors are independent and have no material relationships that could interfere with their judgment[90]. - The Company Secretary assists in preparing meeting agendas and ensures compliance with applicable rules and regulations[94]. - The Board conducts regular meetings and provides at least 14 days' notice for regular meetings to ensure attendance[94]. - Mr. Li Tung Lok will voluntarily retire and be re-elected at least once every three years to comply with the CG Code[101]. - The Company has a fixed term of not more than three years for non-executive Directors, subject to retirement and re-election[99]. - The Company has assessed the independence of all independent non-executive Directors and considers them to be independent[90]. - The Board holds at least two meetings annually with independent non-executive Directors without the presence of executive Directors[93]. - The Company has a robust governance structure with a balance of power between the Board and management, with three out of seven Board members being independent non-executive Directors[98]. - The company has maintained a balanced power structure with three independent non-executive directors on the board, ensuring effective decision-making[102]. - The company secretary is responsible for compliance with Listing Rules and timely dissemination of annual and interim reports[115]. - Directors are required to attend external seminars and maintain training records to ensure they are updated on relevant topics[111]. - The company publishes its annual results within three months and interim results within two months after the respective periods[120]. - The directors are responsible for maintaining proper accounting records to prepare financial statements in accordance with applicable standards[124]. - The company has a policy for the re-election of retiring directors at general meetings, ensuring governance compliance[106]. - The company secretary confirmed compliance with all required qualifications and training as per Listing Rules[117]. - The board receives monthly updates from senior management to assess the company's performance and business activities[121]. - The company has adopted a Model Code for Securities Transactions, ensuring all directors comply with securities trading standards[109]. - The chairman and CEO roles are held by the same individual, which the company believes adds significant value to business growth[102]. Audit and Remuneration - The Audit Committee reviewed the annual report for the year ended April 30, 2021, ensuring compliance with Hong Kong Financial Reporting Standards[135]. - A remuneration of HK$0.87 million was payable to the external auditor HLB for audit services provided to the Group for the year ended April 30, 2021[138]. - The Remuneration Committee is responsible for reviewing and determining the remuneration packages of individual executive Directors and senior management, considering industry benchmarks and Group performance[147]. - The Audit Committee monitored the external auditor's independence and effectiveness of the audit process, holding meetings to discuss the scope and fees of the audit[135]. - The Group's policy regarding the engagement of HLB includes audit, non-audit, and taxation-related services, ensuring all audit services are provided by the external auditor[143]. - The Nomination Committee, established in January 2006, consists of three independent non-executive Directors, overseeing the nomination and appointment process[148]. - The Audit Committee's major functions include reviewing the Group's preliminary results, interim results, and annual financial statements[134]. - The Remuneration Committee's recommendations on Directors' and senior management's remuneration are based on their duties, expertise, and the Group's profitability[146]. - The Audit Committee assists the Board in maintaining an effective internal control system and risk management[137]. - The terms of reference for the Audit and Remuneration Committees are consistent with the CG Code and are available on the Company's and Stock Exchange's websites[139]. - The Board has reviewed the risk management and internal control system and considers them effective and adequate for the year ended April 30, 2021[166]. - The Group has engaged an independent internal control review advisor to perform systematic reviews of major financial, operational, and compliance controls[165]. Environmental and Social Responsibility - The Group is committed to reducing greenhouse gas emissions by implementing green office practices and encouraging employees to adopt environmentally friendly behaviors[170]. - The Group actively promotes investor relations and communications with the investment community during financial results announcements and throughout the year[172]. - The Group regularly reviews its environmental practices to make further improvements[171]. - The Group's environmental policies and performance are discussed in the Corporate Governance Report[191]. Business Strategy and Opportunities - The Group plans to monitor the market and adjust its labor force to enhance efficiency[20]. - The Group plans to enhance production efficiency and capacity by upgrading existing plants and machinery[27]. - The Group aims to explore additional business opportunities to expand its principal manufacturing business and improve shareholder returns[28].

Financial Performance - The Group reported a turnover of HK$164.05 million for the six months ended 31 October 2020, representing an increase of 21.97% compared to HK$134.50 million for the same period last year[9]. - The consolidated loss for the Period amounted to HK$6.92 million, an improvement from a loss of HK$23.91 million in the corresponding period in 2019[9]. - Loss per share for the Period was HK3.68 cents, compared to HK12.72 cents in 2019[9]. - Revenue for the six months ended 31 October 2020 was HK$164,048,000, an increase of 22% compared to HK$134,499,000 for the same period in 2019[86]. - Loss for the period narrowed to HK$6,919,000 from HK$23,912,000 in the previous year, representing a 71% improvement[86]. - Total comprehensive expense for the period was HK$7,005,000, significantly lower than HK$25,857,000 in the same period last year[90]. - Basic and diluted loss per share improved to HK3.68 cents from HK12.72 cents year-over-year[86]. - For the six months ended 31 October 2020, the company reported a loss of HK$6,919,000 compared to a loss of HK$23,912,000 for the same period in 2019, indicating a significant improvement in performance[135]. Expenses and Costs - Staff costs increased to HK$41.57 million, representing 25.34% of the Group's turnover, down from 28.31% in 2019[11]. - Other expenses decreased by 24.72% to HK$36.86 million, representing 24.47% of the Group's turnover, down from 36.41% in 2019[12]. - Staff costs increased to HK$41,568,000 from HK$38,078,000, marking an increase of 7%[86]. - The company incurred repair and maintenance expenses of HK$12,091,000 for the period, slightly down from HK$12,361,000 in 2019[131]. Assets and Liabilities - The Group's cash and bank balances amounted to HK$157.22 million as of 31 October 2020, up from HK$154.89 million on 30 April 2020[19]. - Total outstanding debts were HK$62.58 million as of 31 October 2020, compared to HK$59.65 million on 30 April 2020[19]. - Current assets increased to HK$369,419,000 as of 31 October 2020, up from HK$359,828,000 at 30 April 2020[88]. - Non-current assets decreased slightly to HK$155,765,000 from HK$160,639,000[88]. - The total outstanding debts as of October 31, 2020, were HK$62.58 million, up from HK$59.65 million as of April 30, 2020, including lease liabilities of HK$31.74 million[25]. - The total borrowings from a director amounted to HK$30,841,000 as of 31 October 2020, up from HK$22,022,000 as of 30 April 2020, indicating increased financial support from the director[145]. Investments - The net fair value loss on financial assets at fair value through profit or loss was approximately HK$11.13 million, compared to HK$4.83 million in 2019[13]. - The Group's significant investments included listed equity securities valued at HK$33.79 million, representing 6.42% of total assets as of October 31, 2020[33]. - The company entered into a subscription agreement for convertible bonds amounting to HK$9.4 million, with a conversion price of HK$0.25 per share[41]. - The company recorded a net fair value loss on financial assets at FVTPL of HK$11,128,000, compared to a loss of HK$4,830,000 in the previous year[112]. Share Options and Capital Structure - As of October 31, 2020, a total of 36,559,166 share options granted under the Scheme remained outstanding, representing 19.44% of the issued share capital of the Company[63]. - The maximum number of shares that may be issued upon exercise of all outstanding share options must not exceed 30% of the issued share capital of the Company at any time[63]. - The share option scheme was adopted on September 15, 2015, and is valid for a term of 10 years[60]. - Total share options granted to directors amounted to 61,500,000, with 5,124,998 exercised and 7,200,000 cancelled[67]. - Total share options granted to employees reached 386,830,000, with 32,235,834 exercised and 10,800,000 cancelled[68]. - The total number of options exercised by directors was 12,324,998, showcasing active participation in the share option scheme[67]. Corporate Governance - The Company has adopted its own Code on Corporate Governance Practices, incorporating principles from the Corporate Governance Code[76]. - The Company complied with all code provisions of the Corporate Governance Code except for immaterial deviations[81]. - The roles of Chairman and Chief Executive are held by Mr. Li Tung Lok, which the Company believes adds significant value to business growth[82]. - The Company emphasizes quality Board, effective internal controls, and transparency to all shareholders[75]. - The Company is committed to best practice standards of corporate governance[80]. Future Prospects and Strategies - The company aims to enhance operational performance by increasing production efficiency and capacity, focusing on upgrading existing machinery[44]. - The company plans to strengthen its engineering and production departments to maintain competitive advantages in lead times and production flexibility[43]. - The company is exploring additional business opportunities to expand its principal manufacturing business and improve shareholder returns[45]. - The management will continue to monitor foreign currency exposure and arrange for hedging facilities when necessary[26]. - The Group's principal activities include the manufacture and sale of integrated circuit leadframes, heatsinks, stiffeners, and related products, as well as securities trading and investment holding[95].

Financial Performance - The Group reported a revenue of HK$274.58 million for the year ended 30 April 2020, a decrease of 2.89% compared to HK$282.74 million in the previous year[9]. - The consolidated loss for the year amounted to HK$68.15 million, an increase from a loss of HK$45.42 million in the previous year[13]. - Basic and diluted loss per share was HK36.24 cents, compared to HK24.16 cents in the previous year[13]. - The unfavorable business environment impacted the Group's turnover during the year[15]. - The Group's revenue decreased by 2.89% to HK$274.58 million in the reviewed year, down from HK$282.74 million in 2019[20]. Cost Management - Staff costs decreased by 6.31% to HK$79.27 million, representing 28.87% of the Group's turnover[16]. - Other expenses decreased by 7.81% to HK$82.07 million, representing 29.89% of the Group's turnover[16]. - Employee costs reduced by 6.31% to HK$79.27 million, accounting for 28.87% of the Group's revenue, compared to 29.93% in 2019[20]. - Other operating expenses decreased by 7.81% to HK$82.07 million, representing 29.89% of the Group's revenue, down from 31.48% in 2019[20]. Impairment and Losses - The Group recorded a non-cash impairment expense of HK$24.74 million for property, plant, and equipment, significantly higher than HK$1.37 million in 2019[22]. - A net fair value loss on financial assets at FVTPL amounted to HK$11.38 million during the year, including losses of approximately HK$3.29 million and HK$3.88 million from investments in CPI and CIF, respectively[22]. Debt and Cash Position - As of April 30, 2020, the Group's bank balances and cash totaled HK$154.89 million, an increase from HK$131.28 million in 2019[35]. - The total outstanding debts increased to HK$59.65 million as of April 30, 2020, compared to HK$13.06 million in 2019[35]. - The gearing ratio increased to 14.9% from 2.8% in the previous year[9]. - Total outstanding debts as of April 30, 2020, were HK$59,650,000, compared to HK$13,060,000 in 2019, including lease liabilities of HK$37,630,000[40]. - The capital debt ratio as of April 30, 2020, was 14.9%, significantly higher than 2.8% in 2019[40]. Corporate Governance - The Company has adopted its own corporate governance code (the "QPL Code") in line with the Corporate Governance Code (the "CG Code")[68]. - The Company has complied with all code provisions set out in the CG Code during the year ended April 30, 2020, except for certain deviations explained in relevant paragraphs[69]. - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors as of April 30, 2020[79]. - The Company emphasizes quality governance, effective internal controls, and transparency to all Shareholders[67]. - The Audit Committee, Remuneration Committee, and Nomination Committee oversee specific aspects of the Group's affairs[72]. Board Composition and Responsibilities - The Board is responsible for formulating the Group's strategy, setting corporate targets, and monitoring operational and financial performance[70]. - The Board's composition is reviewed periodically to ensure a balanced mix of skills and experience[78]. - The Company has established a policy allowing Directors to seek independent professional advice at the Company's expense[77]. - The Board has at least three independent non-executive Directors, representing at least one-third of the Board[86]. - The Company Secretary assists in preparing meeting agendas and ensures compliance with applicable rules and regulations[91]. Risk Management and Internal Controls - The Board has reviewed the risk management and internal control system and considers them effective and adequate for the year ended April 30, 2020[164]. - The Group has engaged an independent internal control review advisor to perform systematic reviews of major financial, operational, and compliance controls[163]. - The Audit Committee's work includes monitoring corporate governance and compliance with statutory requirements[132]. Environmental and Social Responsibility - The Group is committed to reducing greenhouse gas emissions by implementing green office practices and encouraging employees to adopt environmentally friendly behaviors[168]. - The Group regularly reviews its environmental practices to make further improvements[169]. Shareholder Relations - Shareholders are encouraged to attend all general meetings, with provisions for requisitioning special general meetings if certain capital thresholds are met[172]. - The Group actively promotes investor relations and communications with the investment community during financial results announcements[170]. Dividend Policy - The Directors do not recommend the payment of a dividend for the year ended April 30, 2020[188]. - The Company did not have reserves available for distribution to shareholders as of April 30, 2020[191]. - The Board established a dividend policy in January 2019, aiming to provide stable and sustainable returns to shareholders[191]. - The Company cannot declare or pay a dividend if it is unable to pay its liabilities as they become due or if the realizable value of its assets would be less than the aggregate of its liabilities and issued share capital[195]. - The declaration and payment of dividends are subject to restrictions under the Companies Act of Bermuda and other applicable laws[197].

Financial Performance - The Group reported a turnover of HK$134.50 million for the six months ended 31 October 2019, representing a decrease of 16.27% compared to HK$160.64 million for the same period last year[9]. - The consolidated loss for the Period amounted to HK$23.91 million, an improvement from a loss of HK$33.71 million in the corresponding period in 2018[9]. - Loss per share for the Period was HK1.06 cents, compared to HK1.49 cents in 2018[9]. - Revenue for the six months ended October 31, 2019, was HK$134,499,000, a decrease of 16.3% from HK$160,638,000 in the same period of 2018[75]. - Loss for the period was HK$23,912,000, compared to a loss of HK$33,708,000 in the previous year, representing a 29.5% improvement[75]. - Total comprehensive expense for the period was HK$25,857,000, down from HK$34,064,000, indicating a 24.1% reduction[75]. - The company reported a net loss of HK$23,912,000 for the six months ended 31 October 2019, compared to a loss of HK$33,708,000 for the same period in 2018, representing a 29% improvement in loss[79]. - The company generated HK$15,547,000 from investing activities, a significant turnaround from a cash outflow of HK$2,043,000 in the prior year[81]. - The company’s total equity decreased to HK$441,920,000 as of 31 October 2019, down from HK$467,777,000 at the beginning of the period, reflecting a decline of 5.5%[79]. Expenses and Costs - Staff costs decreased to HK$38.08 million, representing 28.31% of the Group's turnover, down from 28.79% in the previous year[11]. - Other expenses decreased to HK$48.97 million, representing 36.41% of the Group's turnover, up from 31.67% in the previous year[12]. - Staff costs decreased to HK$38,078,000 from HK$46,244,000, a reduction of 17.6%[75]. - Repair and maintenance expenses increased to HK$12,361,000, up 17.5% from HK$10,523,000 in the previous year[134]. - The Group's income tax expenses for the period were HK$463,000, a decrease of 8.0% from HK$503,000 in the previous year[134]. - The impairment for inventories included in raw materials was HK$1,521,000, up from HK$609,000, indicating a significant increase in inventory impairment[134]. Assets and Liabilities - The Group's cash and bank balances amounted to HK$125.65 million as at 31 October 2019, down from HK$131.28 million as of 30 April 2019[19]. - Total outstanding debts increased to HK$17.02 million as at 31 October 2019, compared to HK$13.06 million as of 30 April 2019[19]. - The gearing ratio increased to 14.98% as at 31 October 2019, up from 2.8% as of 30 April 2019[20]. - Non-current assets amounted to HK$205,811,000 as of October 31, 2019, an increase from HK$160,853,000 as of April 30, 2019[77]. - Current assets totaled HK$359,411,000, a decrease from HK$373,609,000 as of April 30, 2019[77]. - Net current assets were HK$272,181,000, down from HK$306,924,000, reflecting a decline of 11.3%[77]. - Net assets decreased to HK$441,920,000 from HK$467,777,000, a reduction of 5.5%[77]. - The consolidated total assets as of October 31, 2019, amounted to HK$565,222,000, slightly up from HK$534,462,000 as of April 30, 2019[121]. Share Capital and Options - As of October 31, 2019, Mr. Li Tung Lok holds a total of 105,563,266 shares, representing 4.68% of the issued share capital of the Company[50]. - The Company has granted a total of 448,330,000 share options under the share option scheme, which represents 19.87% of the issued share capital as of October 31, 2019[55]. - The maximum number of shares that may be issued upon exercise of all outstanding share options must not exceed 30% of the issued share capital of the Company[55]. - The share option scheme was adopted on September 15, 2015, and is valid for 10 years[52]. - The exercise price of the options under the scheme shall not be less than the highest of the closing price on the date of offer, the average closing price for the preceding five business days, or the nominal value of a share[53]. - The number of shares in respect of which options may be granted to any one grantee in any 12-month period is limited to 1% of the shares in issue without prior shareholder approval[55]. - As of October 31, 2019, the total outstanding share options for directors amounted to 61,500,000 shares[59]. - The total outstanding share options for employees reached 386,830,000 shares, bringing the overall total to 448,330,000 shares[59]. - The company did not engage in any arrangements for directors or executives to acquire benefits through share purchases during the reporting period[60]. - There were no substantial shareholders identified with interests in the company's shares as of October 31, 2019[61]. Corporate Governance - The audit committee reviewed the unaudited condensed consolidated financial statements for the six months ended October 31, 2019[63]. - The company is committed to maintaining best practice standards of corporate governance, emphasizing quality board and effective internal controls[68]. - The company complied with all code provisions of the Corporate Governance Code except for minor deviations deemed immaterial by the board[70]. - The roles of chairman and chief executive are held by Mr. Li Tung Lok, which the company believes enhances decision-making efficiency[71]. - The chairman and three independent non-executive directors were unable to attend the general meetings held on October 30, 2019, due to other engagements[72]. Market and Business Activities - The major activities of the Group's subsidiaries include investment holding, property investment, and financial services, with a focus on enhancing operational performance and production efficiency[35]. - The Group plans to strengthen its engineering and production departments to maintain competitive advantages in lead times and production flexibility[37]. - The Group will continue to explore business opportunities to expand its principal manufacturing business and improve returns to shareholders[39]. - The principal activities of the company include the manufacture and sale of integrated circuit leadframes and related products, indicating a focus on technology and manufacturing sectors[84]. - The company is actively involved in securities trading and money lending, diversifying its revenue streams beyond manufacturing[84]. - Customers are located in the USA, Hong Kong, Europe, PRC, Philippines, Malaysia, Singapore, Thailand, and other countries, indicating a diverse market presence[109]. Accounting and Reporting Standards - The company has applied new accounting standards, including HKFRS 16 on leases, which may impact future financial reporting and cash flow management[87]. - The Group adopted HKFRS 16 from May 1, 2019, recognizing lease liabilities previously classified as operating leases, measured at the present value of remaining lease payments[101]. - The Group's financial statements reflect adjustments arising from the new leasing standards recognized in the opening balance sheet on May 1, 2019[102]. - The Group's financial reporting adheres to the new and revised HKFRSs, ensuring compliance with updated accounting standards[106]. - The Group has not early adopted new or amended HKFRSs that are issued but not yet effective for the current accounting period[104].

Financial Performance - The Group reported a turnover of HK$282.74 million for the year ended 30 April 2019, a decrease of 10.49% compared to HK$315.86 million in the previous year[12]. - The consolidated loss for the year was HK$45.42 million, significantly improved from a loss of HK$211.42 million in the previous year, representing a reduction of HK$166.00 million[8]. - Basic loss per share was HK2.01 cents, compared to HK9.37 cents in 2018, indicating a substantial improvement in per-share performance[12]. - Adjusted LBITDA for the year was HK$21.20 million, an improvement from HK$24.85 million in the previous year, reflecting a decrease in operational losses[12]. - The unfavorable business environment contributed to the decrease in turnover, prompting the Group to tighten expenditures to mitigate rising operational costs[14]. - The Group experienced a net fair value loss on financial assets at FVTPL of approximately HK$13.29 million during the year, including losses of HK$0.42 million from unlisted equity securities and HK$9.80 million from listed equity securities[21][25]. - The Group's bank balances and cash amounted to HK$131.28 million as of April 30, 2019, down from HK$150.25 million in 2018[33][37]. - Total outstanding debts increased to HK$13.05 million as of April 30, 2019, compared to HK$5.20 million in 2018, with HK$12.60 million being interest-free[33][37]. - Capital expenditure for the year was HK$10.79 million, significantly lower than HK$141.51 million in 2018, primarily financed from internal resources[42]. Employee and Operational Efficiency - Staff costs decreased by 10.87% to HK$84.61 million, representing 29.93% of the Group's turnover, slightly down from 30.05% in 2018[15]. - The total number of employees decreased to approximately 1,010 as of April 30, 2019, from 1,230 in 2018[43]. - The Group plans to continue monitoring market conditions and adjust its workforce to enhance labor efficiency[15]. - The Group plans to enhance production efficiency and capacity by upgrading and restructuring existing plants and machinery[23][26]. Corporate Governance - The company emphasizes best practice standards in corporate governance, focusing on a quality Board, effective internal controls, and transparency to shareholders[62]. - The Board is responsible for the overall strategy and policies of the group, including monitoring operational and financial performance, and approving major capital expenditures and investments[64]. - The company has established three Board committees: the Audit Committee, the Remuneration Committee, and the Nomination Committee, to oversee specific aspects of the group's affairs[66]. - The Company has complied with Listing Rules by having at least three independent non-executive Directors, representing at least one-third of the Board[80]. - The Company Secretary ensures that Board procedures are followed and that Board activities are conducted efficiently and effectively[105]. - The Company Secretary is responsible for the Group's compliance with all obligations under the Listing Rules, including timely preparation and dissemination of annual and interim reports[107]. - The Group's external auditor, HLB Hodgson Impey Cheng Limited, confirmed their independence and objectivity in their engagement letter for the year ended April 30, 2019[130]. - The Audit Committee consists of three independent non-executive Directors, ensuring oversight of the Group's financial reporting and compliance with statutory requirements[117]. Risk Management and Internal Control - The Board has overall responsibility for establishing and maintaining an effective risk management and internal control system to safeguard the Group's assets and ensure the reliability of financial statements[154]. - The Group's risk management and internal control systems are deemed effective and sufficient as of April 30, 2019[160]. - An independent internal control review advisor was engaged to perform internal audits, covering major financial, operational, and compliance controls[156]. - For the year ended 30 April 2019, the Board reviewed the risk management and internal control system and deemed them effective and adequate[157]. - The Board will conduct an annual review of the risk management and internal control systems to ensure significant risks are effectively monitored[158]. Shareholder Relations and Dividends - The Directors do not recommend the payment of a dividend for the year, consistent with the previous year[13]. - The Company has established a Dividend Policy in January 2019 to provide stable and sustainable returns to shareholders[184]. - The Group's capital and debt levels, market conditions, and future development plans are considered when evaluating dividend payments[185]. - The Group encourages shareholders to attend all general meetings and has adopted a policy on shareholder communication[165]. Customer and Supplier Relationships - Sales to the Group's five largest customers accounted for approximately 52% of total sales for the year, up from 45% in 2018[199]. - Sales to the largest customer represented approximately 14% of total sales, an increase from 11% in 2018[199]. - Purchases from the Group's five largest suppliers accounted for approximately 70% of total purchases, slightly down from 71% in 2018[200]. - Purchases from the largest supplier accounted for approximately 24% of total purchases, compared to 23% in 2018[200]. - The Group maintains good relationships with employees, customers, and suppliers, contributing to its operational stability[194].

Financial Performance - The Group reported a turnover of HK$160.64 million for the six months ended 31 October 2018, representing an increase of 6.21% compared to HK$151.25 million for the same period last year[9]. - The consolidated loss for the Period amounted to HK$33.71 million, a significant improvement from a loss of HK$208.06 million in the corresponding period in 2017[9]. - Loss per share for the Period was HK1.49 cents, compared to HK9.22 cents in 2017[9]. - Revenue for the six months ended October 31, 2018, was HK$160,638,000, representing an increase of 6.5% compared to HK$151,247,000 for the same period in 2017[77]. - Loss before taxation for the period was HK$33,205,000, a significant improvement from a loss of HK$206,754,000 in the previous year, indicating a reduction of approximately 83.9%[77]. - Loss for the period was HK$33,708,000, compared to a loss of HK$208,063,000 in the same period last year, reflecting a decrease of about 83.8%[77]. - Total comprehensive expense for the period was HK$34,064,000, down from HK$208,046,000, marking a reduction of approximately 83.7%[77]. Expenses and Costs - Staff costs decreased to HK$46.24 million, representing 28.79% of the Group's turnover, down from 33.0% in the previous year[11]. - Other expenses increased to HK$50.88 million, accounting for 31.67% of turnover, up from 26.05% in the previous year[12]. - The company reported an increase in repair and maintenance expenses to HK$10,523,000 for the six months ended 31 October 2018, compared to HK$9,445,000 in the previous year[138]. - Impairment for inventories included in raw materials and consumables used was HK$609,000 for the six months ended 31 October 2018, up from HK$77,000 in 2017[138]. Assets and Liabilities - The Group incurred total outstanding debts of HK$10.4 million as of 31 October 2018, an increase from HK$5.2 million as of 30 April 2018[20]. - The gearing ratio was 2.2% as at 31 October 2018, compared to 1.0% as of 30 April 2018[21]. - The Group's cash and bank balances amounted to HK$120.21 million as at 31 October 2018, down from HK$150.25 million as of 30 April 2018[20]. - Total assets as of October 31, 2018, amounted to HK$552,003,000, a decrease from HK$575,501,000 as of April 30, 2018[128]. - Current assets totaled HK$387,600,000, a decrease from HK$412,800,000 as of April 30, 2018[79]. - Net current assets were HK$313,396,000, down from HK$340,819,000, indicating a decline of approximately 8.1%[79]. Investments and Capital Expenditure - During the Period, the Group invested HK$13.84 million in acquiring property, plant, and equipment, financed mainly from internal resources[25]. - The Group invested HK$13,840,000 in property, machinery, and equipment during the period, significantly lower than HK$141,510,000 in the previous period[30]. - The Group's capital expenditure contracted for but not provided in the condensed consolidated financial statements was HK$18,566,000 as of 31 October 2018, compared to HK$16,109,000 as of 30 April 2018, indicating an increase of approximately 9.06%[154]. Share Capital and Options - As of October 31, 2018, Mr. Li Tung Lok holds a total of 105,563,266 shares, representing 4.68% of the issued share capital of the Company[51]. - The Company has granted an aggregate of 448,330,000 share options under the share option scheme, which represents 19.87% of the issued share capital as of October 31, 2018[56]. - The maximum number of shares that may be issued upon exercise of all outstanding share options must not exceed 30% of the issued share capital of the Company[56]. - The share option scheme was adopted on September 15, 2015, and is valid for 10 years[53]. - The exercise price of the options under the scheme shall not be less than the highest of the closing price on the date of offer, the average closing price for the five business days preceding the offer, or the nominal value of a share[54]. Governance and Compliance - All Directors have confirmed compliance with the securities trading code during the reporting period[48]. - The Company has complied with all code provisions set out in the Corporate Governance Code except for some immaterial deviations[72]. - The roles of Chairman and Chief Executive are held by Mr. Li Tung Lok, which the Company believes adds significant value to business growth[73]. - The Company emphasizes quality governance, effective internal controls, and transparency to all shareholders[70]. Revenue Recognition and Accounting Policies - The company applied HKFRS 15 for the first time, which supersedes previous revenue recognition standards, impacting the accounting policies[92]. - Revenue is recognized when control of goods or services is transferred to the customer, based on the completion of performance obligations[97]. - The Group has adopted HKFRS 15, which impacts revenue recognition from customer contracts, effective from May 1, 2018[96]. - The Group has applied HKFRS 9, introducing new requirements for classification and measurement of financial assets and expected credit losses (ECL)[106]. Segment Performance - Revenue from the USA segment decreased to HK$18,928,000, down 6.0% from HK$20,150,000 in 2017[122]. - The PRC segment generated revenue of HK$52,451,000, representing a growth of 7.9% compared to HK$48,527,000 in 2017[122]. - The Europe segment saw a significant increase in revenue to HK$20,305,000, up 840.5% from HK$2,158,000 in 2017[122]. - The total segment results showed a loss of HK$271,000, an improvement from a loss of HK$346,000 in the previous year[122].