Financial Performance - The Group reported a revenue of HK$301.45 million for the fiscal year, an increase of 14.75% compared to HK$262.70 million in the previous year[10]. - The consolidated loss for the year was HK$1.06 million, significantly improved from a loss of HK$61.39 million in the previous year[10]. - Basic and diluted loss per share was HK0.37 cents, a substantial decrease from HK21.26 cents in the previous year[10]. - No dividend was recommended for the year, consistent with the previous year[11]. - The Directors do not recommend the payment of a dividend for the year ended April 30, 2025[190]. - The Company did not have any reserves available for distribution to shareholders as of April 30, 2025[193]. - The Company established a Dividend Policy in January 2019 to maintain adequate working capital and provide stable returns to shareholders[193]. - The Board will consider various factors, including financial performance and capital requirements, 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]. - The declaration and payment of dividends are subject to restrictions under the Companies Act of Bermuda and other applicable laws[199]. Operating Expenses - Staff costs increased by 0.43% to HK$99.29 million, representing 32.94% of the Group's revenue, down from 37.63% in the previous year[18]. - Other operating expenses decreased by 5.42% to HK$78.48 million, accounting for 26.03% of revenue, down from 31.59% in the previous year[18]. Financial Assets and Liabilities - The Group experienced net fair value losses on financial assets at FVTPL of HK$4.17 million, compared to HK$22.00 million in the previous year[19]. - As of April 30, 2025, the Group's gross loan receivables amounted to HK$87.25 million, with an allowance for expected credit losses of HK$41.84 million recognized[27]. - The principal amount of loans in the portfolio ranged from approximately HK$0.24 million to HK$5.0 million, with interest rates between 8.0% and 12.0% per annum[29]. - The largest borrower accounted for approximately HK$6.38 million, representing about 7.11% of the Group's total loan receivables, while the five largest borrowers made up approximately 31.50% of the total[29]. - Other payables and accrued expenses were approximately HK$67.20 million, representing 47.33% of the Group's total liabilities as of April 30, 2025[34]. - Financial assets at fair value through profit or loss (FVTPL) held by the Group were approximately HK$60.65 million as of April 30, 2025, compared to HK$62.58 million in 2024[38]. - The Group's financial assets at fair value through profit or loss (FVTPL) totaled HK$60.65 million, representing 13.05% of total assets as of April 30, 2025[39]. Business Strategy and Operations - The Group aims to enhance its engineering and production departments to maintain competitive advantages in lead times and production flexibility[20]. - Plans are in place to increase production efficiency and capacity, including upgrading existing plants and machinery[21]. - The Group will continue to explore business opportunities to expand its principal manufacturing business and improve returns to shareholders[22]. - The Group's strategy includes exploring various business opportunities to improve shareholder returns and diversify business risks[28]. - The Group's money lending business is funded through internal resources, aiming to generate interest income and enhance profitability[28]. - To lower the default ratio, the Group has enhanced loan requirements, including asset and income proof from borrowers[29]. Corporate Governance - The Company emphasizes best practice standards in corporate governance, focusing on quality Board leadership, effective internal controls, and transparency to all shareholders[72]. - The Board is responsible for the Group's strategy, operational performance, and major capital expenditures, ensuring effective oversight of the Company's affairs[74]. - 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 operations[76]. - The Group's corporate governance practices comply with the Corporate Governance Code, with all principles applied except for certain explained deviations[73]. - The Company has a policy allowing Directors to seek independent professional advice at the Company's expense to assist in fulfilling their duties[81]. - The independent non-executive Directors have confirmed their independence in accordance with the Listing Rules[90]. - The Board conducts regular meetings and provides at least 14 days' notice for regular meetings to ensure attendance[94]. - The Company Secretary assists in preparing meeting agendas and ensures compliance with applicable rules and regulations[94]. - The Audit Committee, established in April 2000, consists of three independent non-executive Directors as of April 30, 2025[127]. - The Company Secretary ensures compliance with Listing Rules and prepares annual and interim reports within the stipulated time limits[114]. - The Audit Committee reviewed the annual report for the year ended April 30, 2025[127]. - The Company has maintained a balance of power and authority between the Board and management[103]. - The Company Secretary advises Directors on their obligations regarding disclosure of interests and dealings in the Group's securities[115]. - The Audit Committee monitors the corporate governance of the Group, ensuring compliance with statutory and Listing Rules requirements[132]. - The Group's consolidated financial statements are prepared in accordance with Hong Kong Financial Reporting Standards, as reviewed by the Audit Committee[135]. Employee and Remuneration - The Group's commitment to employee remuneration and benefits aims to attract and retain talent, reflecting its focus on performance and competitive standards[58]. - The Group maintains a competitive remuneration policy, offering packages, share options, and benefits based on performance, ensuring alignment with job nature, qualifications, and experience[58]. - As of April 30, 2025, the total number of employees decreased to approximately 668 from 730 in 2024, reflecting a reduction in workforce[58]. Risk Management and Internal Control - An annual review of the risk management and internal control system is performed by the Board to ensure significant risks are properly managed[162]. - The Board considers the risk management and internal control systems effective and adequate as of April 30, 2025[164]. - The Company has engaged an independent internal control review advisor to conduct systematic audits of financial, operational, and compliance controls[163]. Environmental and Investor Relations - The Group promotes environmental awareness among employees and implements green office practices to reduce waste and greenhouse gas emissions[168]. - The Company actively promotes investor relations and communications with the investment community during financial results announcements[171]. - Shareholders are encouraged to attend general meetings, and special meetings can be convened upon requisition by members holding at least one-tenth of the paid-up capital[178]. Business Overview - The principal activities of the Company's subsidiaries include the manufacture and sale of integrated circuit leadframes and related products[185]. - The Group's business review and performance analysis are provided throughout the annual report, highlighting key factors affecting results and future developments[187].
QPL INT'L(00243) - 2025 - 年度财报