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].
QPL INT'L(00243) - 2023 - 中期财报