Financial Performance - The Group reported a turnover of HK$132.57 million for the Period, representing a decrease of 20.40% compared to HK$166.55 million for the same period last year[5]. - The consolidated loss for the Period amounted to HK$20.32 million, compared to a profit of HK$33.43 million for the corresponding period in 2022[5]. - Loss per share for the Period was HK7.04 cents, down from earnings per share of HK14.52 cents in 2022[5]. - Revenue for the six months ended October 31, 2023, decreased to HK$132,569,000, down 20.4% from HK$166,551,000 in the same period of 2022[79]. - Loss before taxation for the period was HK$20,319,000 compared to a profit of HK$34,116,000 in the previous year, indicating a significant decline in performance[79]. - The net loss for the period was HK$20,319,000, a stark contrast to the profit of HK$33,429,000 recorded in the same period last year[79]. - Total comprehensive loss for the period amounted to HK$20,268,000, compared to a comprehensive income of HK$36,319,000 in the prior year[79]. Expenses and Costs - Staff costs increased to HK$47.00 million, representing 35.46% of the Group's turnover, up from 25.74% in the previous year[7]. - Other expenses decreased by 16.94% to HK$30.30 million, representing 22.85% of the Group's turnover, compared to 21.90% in 2022[8]. - The company reported unallocated corporate expenses of HK$24,581,000, significantly higher than HK$9,324,000 in the same period last year[105]. - Repair and maintenance expenses decreased to HK$6,659,000, down 42% from HK$11,474,000 in the same period of 2022[128]. Cash Flow and Financial Position - As of 31 October 2023, the Group's cash and bank balances amounted to HK$62.80 million, down from HK$70.23 million as of 30 April 2023[16]. - Current assets decreased to HK$368,794,000 from HK$397,450,000 as of April 30, 2023, reflecting a decline of 7.2%[81]. - Net cash generated from operating activities for the six months ended 31 October 2023 was HK$1,677,000, a decrease of 91.25% compared to HK$19,210,000 in the same period of 2022[17]. - Net cash used in investing activities was HK$541,000, significantly lower than HK$8,907,000 in the previous year, indicating a reduction in investment outflows[17]. - Net cash used in financing activities decreased to HK$8,569,000 from HK$23,432,000, reflecting a 63.38% reduction in financing outflows[17]. - The total cash and cash equivalents at 31 October 2023 were HK$62,799,000, down from HK$72,647,000 at the same date in 2022, representing a decrease of 13.6%[17]. Assets and Liabilities - Total outstanding debts amounted to HK$50.63 million, a decrease from HK$58.77 million as of 30 April 2023[16]. - The total consolidated assets as of October 31, 2023, were HK$493,011,000, down from HK$529,761,000 as of April 30, 2023[112]. - The company's net assets as of October 31, 2023, were HK$367,167,000, down from HK$387,435,000 as of April 30, 2023[81]. - Trade and other receivables decreased to HK$56,549,000 from HK$66,358,000, a reduction of 14.0%[81]. - Trade receivables decreased to HK$45,996,000 as of 31 October 2023, down 25% from HK$61,171,000 at 30 April 2023[134]. Investments and Capital Expenditure - The Group invested HK$0.95 million in acquiring property, plant, and equipment during the Period, significantly lower than HK$8.75 million in the previous period[24]. - The Group's capital expenditure for the period was HK$950,000, a significant decrease from HK$8,750,000 for the period ended 30 April 2023[29]. - The Group's capital expenditure commitments for property, plant, and equipment contracted but not provided for decreased to HK$3,208,000 as of October 31, 2023, from HK$13,783,000 as of April 30, 2023, a decline of about 76.7%[152]. Corporate Governance and Management - The Company has complied with all code provisions of the Corporate Governance Code except for immaterial deviations[74]. - The Company emphasizes effective internal controls and transparency in its corporate governance practices[69]. - The remuneration of directors and key management is determined by the remuneration committee based on individual performance and market trends[170]. - Following the passing of Mr. Li on 2 September 2023, the Company is in the process of identifying a suitable candidate for the roles of Chairman and Chief Executive[76]. Shareholder Information - The total number of shares available for grant under the share option scheme is 22,562,211, which is 7.8% of the issued share capital as of the report date[56]. - As of October 31, 2023, there are 2,184,166 outstanding share options, representing approximately 0.8% of the issued share capital[57]. - The share option scheme was adopted on September 15, 2015, and is valid for 10 years[53]. - The maximum number of shares that can be granted under the scheme is limited to 10% of the shares in issue as of the adoption date[55]. - The company did not recommend the payment of an interim dividend for the six months ended 31 October 2023, consistent with the previous year[129].
QPL INT'L(00243) - 2024 - 中期财报