Financial Performance - The Group reported a revenue of HK$312.93 million for the year ended April 30, 2023, a decrease of 35.88% compared to HK$488.05 million in the previous year[12]. - The consolidated loss for the year amounted to HK$34.32 million, compared to a profit of HK$10.10 million in the previous year, resulting in a basic and diluted loss per share of HK13.30 cents[12]. - Recurring EBITDA for the year was HK$17.29 million, an increase from HK$16.51 million in the previous year[12]. - The Group experienced a net fair value loss on financial assets at fair value through profit or loss (FVTPL) of HK$27.26 million, primarily due to losses in investments in SunCorp Technologies Limited, Luxxu Group Limited, and China Investment and Finance Group Limited[21]. - The fair value loss on financial assets amounted to HK$27.26 million, impacting the Group's financial performance[26]. - The Group's financial results for the year ended April 30, 2023, are detailed in the consolidated statement of profit or loss and other comprehensive income[186]. Cost Management - Staff costs decreased by 16.83% to HK$104.81 million, representing 33.49% of the Group's turnover[20]. - Other expenses decreased by 33.26% to HK$55.52 million, representing 17.74% of the Group's turnover[20]. - Employee costs decreased by 16.83% to HK$104.81 million, accounting for 33.49% of the Group's revenue[25]. - Other expenses reduced by 33.26% to HK$55.52 million, representing 17.74% of the Group's revenue[25]. Debt and Financial Stability - The gearing ratio improved to 15.17%, down from 27.67% in the previous year[8]. - The Group's bank balances and cash as of April 30, 2023, were HK$70.23 million, down from HK$85.78 million in 2022, indicating a decrease of approximately 18%[46]. - Total outstanding debts as of April 30, 2023, were HK$58.77 million, a significant reduction from HK$113.58 million in 2022, representing a decrease of approximately 48.3%[46]. - The interest-bearing debt as of April 30, 2023, was HK$43,140,000, down from HK$58,560,000 in 2022[50]. - The capital debt ratio as of April 30, 2023, was 15.2%, significantly lower than 27.6% in 2022[50]. Business Strategy and Operations - The Group plans to strengthen its engineering and production departments to enhance competitive advantages and expand market share[22]. - The Group plans to enhance production efficiency and capacity to improve operational performance[27]. - The Group will continue to explore other business opportunities to expand its principal manufacturing business[28]. - The Group will continue to monitor market conditions and adjust its labor force to improve efficiency[20]. - The Group aims to adjust its workforce and employee structure to improve labor productivity[25]. Corporate Governance - The Board consists of seven Directors, including four executive Directors and three independent non-executive Directors, ensuring a balanced composition of skills and experience[85]. - The Company has adopted its own code on corporate governance practices, the "QPL Code," and has complied with all code provisions set out in the Corporate Governance Code except for specified deviations[75]. - The Board is collectively responsible for promoting the success of the Company by directing and supervising the Group's affairs, including strategy formulation and monitoring financial performance[76]. - 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[78]. - The Directors possess extensive industry knowledge and experience in corporate management, strategic planning, legal, accounting, and financial matters[89]. Shareholder Relations and Dividends - No dividend was recommended for the year, consistent with the previous year[13]. - The Company did not have any reserves available for distribution to shareholders as of April 30, 2023[193]. - The Company established a dividend policy in January 2019, aiming to provide stable and sustainable returns to shareholders[194]. - The Board will consider various factors, including financial performance and capital requirements, when deciding on dividend payments[194]. - The declaration and payment of dividends are subject to restrictions under the Companies Act of Bermuda and other applicable laws[199]. Environmental and Social Responsibility - The Group is committed to reducing greenhouse gas emissions by implementing green office practices, including turning off idle equipment after working hours[170]. - The Group's environmental practices are subject to regular reviews for further improvement[170]. Risk Management - The Group's risk management and internal control system has been reviewed and deemed effective and adequate as of April 30, 2023[166]. - An independent internal control review advisor has been engaged to conduct systematic audits of the Group's internal controls, covering major financial, operational, and compliance aspects[165]. - The Board will continue to monitor residual risks and report ongoing assessments to ensure significant risks are managed within acceptable levels[165].
QPL INT'L(00243) - 2023 - 年度财报