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].
QPL INT'L(00243) - 2022 - 年度财报