QPL INT'L年报2023

CONTENTS 2Corporate Information4Financial Highlights5Chairman’s Statement13Biographical Details of Directors15Corporate Governance Report32Directors’ Report43Independent Auditors’ Report52Consolidated Statement of Profit or Lossand Other Comprehensive Income53Consolidated Statement of Financial Position55Consolidated Statement of Changes in Equity56Consolidated Statement of Cash Flows58Notes to the Consolidated Financial Statements152Financial Summary Corporate Information DIRECTORSEXECUTIVE DIRECTORSLai Sau HimLi Tung Lok(Executive Chairman and Chief Executive)Phen Hoi Ping PatrickTung Siu Ching INDEPENDENT NONEXECUTIVE DIRECTORS Chu Chun On FrancoChung Hoi YanLiu Rongrui COMPANY SECRETARYChung Yuk Lun AUDITOR 18824 McMillan Woods (Hong Kong) CPA LimitedCertified Public Accountants24/F Siu On Centre188 Lockhart RoadWan Chai, Hong Kong PRINCIPAL BANKERS China Construction Bank (Asia) Corporation LimitedCMB Wing Lung Bank LimitedThe Hong Kong and Shanghai Banking Corporation LimitedPublic Bank (Hong Kong) Limited REGISTERED OFFICE Canon’s Court22 Victoria StreetHamilton HM12Bermuda Canon’s Court22 Victoria StreetHamilton HM12Bermuda HEAD OFFICE AND PRINCIPAL PLACE OFBUSINESS IN HONG KONG 22-288 8th Floor, Hale Weal Industrial Building22-28 Tai Chung RoadTsuen Wan, New TerritoriesHong Kong Corporate Information PRINCIPAL SHARE REGISTRAR ANDTRANSFER OFFICE Ocorian Management (Bermuda) Ltd.Canon’s Court22 Victoria StreetHamilton HM12Bermuda Ocorian Management (Bermuda) Ltd.Canon’s Court22 Victoria StreetHamilton HM12Bermuda HONG KONG BRANCH SHARE REGISTRARAND TRANSFER OFFICE 1617 Tricor Standard Limited17/F Far East Finance Centre16 Harcourt RoadHong Kong 243 STOCK CODE243 COMPANY WEBSITEhttp://www.qpl.com http://www.qpl.com Financial Highlights 1.EBITDAEBITDA 1.EBITDA for the year ended 30 April 2023, computed as loss beforetax excluding net fair value loss on financial asset at fair valuethrough profit or loss (“FVTPL”), realised gain on disposal offinancial asset at FVTPL, depreciation and finance cost. EBITDAfor the year ended 30 April 2022, computed as profit before taxexcluding net fair value gain on financial asset at FVTPL, realisedgain on disposal offinancial asset at FVTPL, depreciation andfinance cost. 2.Gearing ratio is defined as total debts, including bank and otherborrowings and lease liabilities/obligations under finance leasesover shareholders’ equity.2. Chairman’s Statement QPL International Holdings Limited On behalf of the Board of Directors (the “Board” or “Directors”),I hereby present the results of QPL International Holdings Limited (the“Company”) and its subsidiaries (collectively the “Group”) for theyear ended 30 April 2023. FINANCIAL RESULTS 312,930,000488,050,00035.88%34,320,00010,100,00013.3013.304.704.01EBITDA17,290,000EBITDA16,510,000 For the fiscal year under review, the Group reported a turnoverofHK$312.93 million, representing a decrease of 35.88% ascompared with HK$488.05 million for the previous year. TheGroup’s consolidated loss for the year amounted to HK$34.32million as compared with a consolidated profit ofHK$10.10million for the previous year. Basic and diluted loss per share wasHK13.30 cents and HK13.30 cents respectively (2022: EarningofHK4.70 cents and HK4.01 cents respectively). RecurringEBITDA, computed as loss before tax excluding net fair value losson financial asset at FVTPL, realised gain on disposal of financialasset at FVTPL, depreciation and finance cost, amounted toa EBITDA ofHK$17.29 million (2022: Recurring EBITDA,computed as profit before tax excluding net fair value gain onfinancial asset at FVTPL, realised gain on disposal of financialasset at FVTPL, depreciation and finance cost, amounted to aEBITDA of HK$16.51 million. DIVIDEND The Directors do not recommend the payment of a dividend forthe year (2022: nil). BUSINESS REVIEW 35.88%312,930,000488,050,000 During the year under review, the Group faced many challengesin the tough business environment and recorded a decrease inturnover by 35.88% to HK$312.93 million (2022: HK$488.05million) during the year. Chairman’s Statement During the year, staff costs decreased by 16.83% to HK$104.81million (2022: HK$126.03 million) representing 33.49% (2022:25.82%) of the Group’s turnover. Other expenses, mainly includedfactory operating costs, and selling and administrative expenses,such as repair and maintenance expenses of HK$19.87 million (2022:HK$33.21 million), electricity and water charges, and fuel expensesofHK$22.97 million (2022: HK$26.84 million), transportationexpenses of HK$0.45 million (2022: HK$1.75 million), advertisingand promotion expenses ofHK$5.02 million (2022: HK$3.01million), business entertainment expenses of HK$1.60 million (2022:HK$3.04 million), and legal and professional fee ofHK$3.65million (2022: HK$3.4 million), decreased by 33.26% to HK$55.52million (2022: HK$83.19 million) representing 17.74% (2022:17.04%) of the Group’s turnover during the