QPL INT'L中期报告2023-2024

INTERIM REPORT2023/24中期報告 CONTENTS 2DIRECTORS’ STATEMENT8INFORMATION PROVIDED IN ACCORDANCEWITH THE LISTING RULES14CONDENSED CONSOLIDATED STATEMENTOF PROFIT OR LOSS AND OTHERCOMPREHENSIVE INCOME15CONDENSED CONSOLIDATED STATEMENTOF FINANCIAL POSITION16CONDENSED CONSOLIDATED STATEMENTOF CHANGES IN EQUITY17CONDENSED CONSOLIDATED STATEMENTOF CASH FLOWS18NOTES TO THE CONDENSED CONSOLIDATEDFINANCIAL STATEMENTS DIRECTORS’ STATEMENT The Board ofDirectors (the “Board” or “Directors”) of QPLInternational Holdings Limited (the “Company”) announced theunaudited consolidated interim results ofthe Company and itssubsidiaries (collectively the “Group”) for the six months ended31 October 2023 (the “Period”). The interim financial results andreport have not been audited, but have been reviewed by the auditcommittee of the Company. QPL International Holdings Limited FINANCIAL RESULTS 132,570,000166,550,00020.40%20,320,00033,430,0007.0414.52 The Group reported a turnover ofHK$132.57 million for thePeriod, representing a decrease of20.40% as compared withHK$166.55 million for the same period last year. The Group’sconsolidatedloss for the Period amounted to HK$20.32million, as compared with a profit of HK$33.43 million for thecorresponding period in 2022. Loss per share for the Period wasHK7.04 cents (2022: earnings per share of HK14.52 cents). DIVIDEND The Directors do not recommend the payment ofan interimdividend for the Period (2022: HK$Nil). BUSINESS REVIEW 20.40%132,570,000166,550,000 TheGroup faced many challenges in the tough businessenvironment for the Period and recorded a decrease in turnover of20.40% to HK$132.57 million (2022: HK$166.55 million) duringthe Period. 47,000,00042,870,00035.46%25.74%) During the Period, staff costs increased to HK$47.00 million (2022:HK$42.87 million), representing 35.46% (2022: 25.74%) oftheGroup’s turnover. The Group will continue to implement policiesto mitigate the impact of increasing labour costs. 16.94%30,300,00036,480,00022.85%21.90%)6,660,00011,480,00011,590,00013,700,0001,550,000920,000150,000770,0001,110,0002,030,000430,0003,300,000820,0002,370,000 Other expenses, decreased by 16.94% to HK$30.30 million (2022:HK$36.48 million) representing 22.85% (2022: 21.90%) oftheGroup’s turnover during the Period, generally included factoryoperating costs, selling and administrative expenses such as repairand maintenance expenses of HK$6.66 million (2022: HK$11.48million), fuel expenses ofHK$11.59 million (2022: HK$13.70million), consumables, tools and utensils of HK$1.55 million (2022:HK$0.92 million), sale commission and agency fee ofHK$0.15million (2022: HK$0.77 million), advertising and promotionexpenses ofHK$1.11 million (2022: HK$2.03 million), businessentertainment expenses ofHK$0.43 million (2022: HK$3.30million), and legal and professional fee ofHK$0.82 million(2022: HK$2.37 million). The Group will continue to tighten itsexpenditure in its efforts to minimize the impact ofincreasingfactory operating costs, sellingand administrative expenses. DIRECTORS’ STATEMENT 10,910,00030,540,00012,710,000 The financial results of the Group were affected by net fair valueloss on financial asset at fair value through profit or loss (“FVTPL”)ofapproximately HK$10.91 million (2022: net fair value gainof HK$30.54 million) during the Period. The net fair value losson financial asset at FVTPL mainly comprised of the fair valueloss on investment in listed equity securities ofWLS HoldingsLimited (“WLS”) (approximately HK$12.71 million). Details ofthe financial asset at FVTPL are disclosed in the “SignificantInvestments” section of this report. LIQUIDITY AND FINANCIAL RESOURCES 62,800,00070,230,00050,630,00058,770,00036,100,00036,860,000200,0006,280,00014,330,00015,630,00036,300,00043,140,00014,330,00015,630,000 The Group’s cash and bank balances amounted to HK$62.80million as at 31 October 2023 (30 April 2023: HK$70.23 million).To finance its working capital, the Group has incurred totaloutstanding debts ofHK$50.63 million as at 31 October 2023(30 April 2023: HK$58.77 million), which comprised HK$36.10million (30 April 2023: HK$36.86 million) of collateralised bankborrowings, HK$0.20 million (30 April 2023: HK$6.28 million) oflease liabilities and HK$14.33 million (30 April 2023: HK$15.63million) of amount due to a former director. In terms of interestcosts,included in the outstanding debts,HK$36.3 million(30 April 2023: HK$43.14 million) was interest bearing andHK$14.33 million (30 April 2023: HK$15.63 million) was interestfree. 13.79%15.20% The gearing ratio was 13.79% as at 31 October 2023 (30 April2023: 15.20%). FOREIGN EXCHANGE RISK MANAGEMENT The Group mainly operates in the People’s Republic ofChina(“PRC”) and Hong Kong and is exposed to foreign exchange riskarising from various currency exposures, primarily with respect toRenminbi (“RMB”) and United States dollars. The fluctuationsin currency exchange rates for the Period did not adversely affectthe Group’s operatio