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].
QPL INT'L(00243) - 2021 - 中期财报