QPL INT'L年报2024

ANNUAL REPORT2024年報 CONTENTS 2Corporate Information4Financial Highlights5Director’s Statement13Biographical Details of Directors15Corporate Governance Report32Directors’ Report42Independent Auditor’s Report51Consolidated Statement of Profit or Lossand Other Comprehensive Income52Consolidated Statement of Financial Position54Consolidated Statement of Changes in Equity56Consolidated Statement of Cash Flows58Notes to the Consolidated Financial Statements140Financial Summary Corporate Information DIRECTORS Lai Sau HimLi Tung Lok(passed away on 2 September 2023)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 66-8224H Unit H, 24/F., Golden Bear Industrial Center66-82 Chai Wan Kok StreetTsuen 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 http://www.qpl.com COMPANY WEBSITEhttp://www.qpl.com Financial Highlights 1.EBITDAEBITDA 1.Negative EBITDA for the year ended 30 April 2024, computed asloss before tax excluding net fair value losses on financial assetsat fair value through profit or loss (“FVTPL”), realised loss ondisposal offinancial assets at FVTPL, depreciation and financecosts. EBITDA for the year ended 30 April 2023, computed as lossbefore tax excluding net fair value losses on financial assets at fairvalue through profit or loss, realised gain on disposal of financialassets at FVTPL, depreciation and finance costs. 2.Gearing ratio is defined as total debts, including bank and otherborrowings and lease liabilities over shareholders’ equity.2. Director’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 2024. FINANCIAL RESULTS The Company acts as an investment holding company. Theprincipal activities of its subsidiaries are the manufacture and saleof integrated circuit leadframes, heatsinks, stiffeners and relatedproducts, investment holding and money lending. 262,700,000312,930,00016.05%61,390,00034,320,00021.2621.2613.3013.30EBITDA24,650,000EBITDA17,290,000 For the fiscal year under review, the Group reported a revenueofHK$262.70 million, representing a decrease of 16.05% ascompared with HK$312.93 million for the previous year. TheGroup’s consolidated loss for the year amounted to HK$61.39million as compared with HK$34.32 million for the previousyear. Basic and diluted loss per share was HK21.26 cents andHK21.26 cents respectively (2023: HK13.30 cents and HK13.30centsrespectively).Recurring EBITDA,computed as lossbefore tax excluding net fair value losses on financial assets atFVTPL, realised loss on disposal of financial assets at FVTPL,depreciation and finance costs, amounted to a negative EBITDAofHK$24.65 million (2023: Recurring EBITDA, computed asloss before tax excluding net fair value losses on financial assets atFVTPL, realised gain on disposal of financial assets at FVTPL,depreciation and finance costs, amounted to a EBITDA ofHK$17.29 million). DIVIDEND The Directors do not recommend the payment of a dividend forthe year (2023: Nil). BUSINESS REVIEW 16.05%262,700,000312,930,000 During the year under review, the Group faced many challengesin the tough business environment and recorded a decrease inturnover by 16.05% to HK$262.70 million (2023: HK$312.93million) during the year. Director’s Statement 5.68%98,860,000104,810,00037.63%33.49%6.68%82,980,00077,780,00031.59%24.86%14,890,00019,870,00021,150,00022,970,000650,000450,0002,340,0005,020,0001,170,0001,600,0002,020,0003,650,00012,160,000490,00012,360,000 During the year, staffcosts decreased by 5.68% to HK$98.86million (2023: HK$104.81 million) representing 37.63% (2023:33.49%) of the Group’s revenue. Other operating expenses, mainlyincluded factory operating costs, and selling and administrativeexpenses, such as repair and maintenance expenses of HK$14.89million (2023: HK$19.87 million), electricity and water charges,and fuel expenses of HK$