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1、Annual Report 2012 年報 展望未來 Look Forward Look Forward 望未未未來來來來來來 Look Forward 2 Corporate Information 集團資料 5 Financial Highlights 財務摘要 6 Geographical Turnover Analysis 地區營業額分析 7 Sales and Production Network 銷售及生產網絡 9 Chairman s Statement 主席報告 13 Biographical Details of Directors and Senior Management
2、 董事及高級管理人員個人資料 16 Corporate Governance Report 企業管治報告 33 Directors Report 董事會報告 41 Independent Auditor s Report 獨立核數師報告 43 Consolidated Statement of Comprehensive Income 綜合全面收入報表 44 Consolidated Statement of Financial Position 綜合財務狀況報表 46 Consolidated Statement of Changes in Equity 綜合權益變動表 47 Consoli
3、dated Statement of Cash Flows 綜合現金流量表 49 Notes to the Consolidated Financial Statements 綜合財務報表附註 103 Financial Summary 財務概要 Content 目錄 46 Consolidated Statem 綜合權益變動表 47 Income ment of Financial Position ment of Changes in Equity 44 綜合財務狀況報表 46 C 況報表 Consolidated Stateme 2-3 Corporate Information 集團資
4、料 e e e DIRECTORS Executive Directors Li Tung Lok (Executive Chairman and Chief Executive) Phen Hoi Ping Patrick Independent Non-executive Directors Robert Charles Nicholson Sze Tsai To Robert Wong Chun Bong Alex COMPANY SECRETARY Tsui Lai Ki Vicki AUDITOR Deloitte Touche Tohmatsu Certified Public A
5、ccountants 35th Floor, One Pacific Place 88 Queensway Hong Kong LEGAL ADVISORS Hong Kong Reed Smith Richards Butler 20th Floor, Alexandra House 18 Charter Road Central, Hong Kong Bermuda Appleby 220619 Jardine House 1 Connaught Place Central, Hong Kong PRINCIPAL BANKERS The Hong Kong and Shanghai Ba
6、nking Corporation Limited Bank of East Asia Limited REGISTERED OFFICE Canon s Court 22 Victoria Street Hamilton HM12 Bermuda 董事 執行董事 李同樂（執行主席兼行政總裁） 彭海平 獨立非執行董事 黎高臣 史習陶 王振邦 公司秘書 徐麗琪 核數師 德勤 關黃陳方會計師行 執業會計師 香港 金鐘道88號 太古廣場1座35樓 法律顧問 香港 禮德齊伯禮律師行 香港中環 遮打道18號 歷山大廈20樓 百慕達 Appleby 香港中環 康樂廣場1號 怡和大廈220619室 主要銀行
7、 香港上海滙豐銀行有限公司 東亞銀行有限公司 註冊辦事處 Canon s Court 22 Victoria Street Hamilton HM12 Bermuda QPL International Holdings Limited Annual Report 2012 年報 Corporate Information 集團資料 總辦事處及香港主要營業地點 香港 新界荃灣 大涌道2228號 合福工業大廈8樓 股份過戶登記總處 HSBC Securities Services (Bermuda) Limited 6 Front Street Hamilton HM11 Bermuda 股份過
8、戶登記香港分處 卓佳標準有限公司 香港 皇后大道東28號 金鐘匯中心26樓 股份代號 243 公司網址 http:/ HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG 8th Floor, Hale Weal Industrial Building 2228 Tai Chung Road Tsuen Wan, New Territories Hong Kong PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE HSBC Securities Services (Bermuda) Limit
9、ed 6 Front Street Hamilton HM11 Bermuda HONG KONG BRANCH SHARE REGISTRAR AND TRANSFER OFFICE Tricor Standard Limited 26th Floor, Tesbury Centre 28 Queen s Road East Hong Kong STOCK CODE 243 COMPANY WEBSITE http:/ 4-5 Financial Highlights 財務摘要 Next Leap Taking the QPL International Holdings Limited A
10、nnual Report 2012 年報 Financial Highlights 財務摘要 l l l HHH FINANCIAL HIGHLIGHTS Audited results for the year ended 30th April, 截至四月三十日止年度之 經審核業績 Increase (decrease) 20122011增加 二零一二年二零一一年（減少） Turnover (HK$ 000)營業額（千港元）279,131 353,998(74,867) Loss for the year (HK$ 000) 本年度虧損 （千港元）(6,487)(13,153)(6,666)
11、 Loss per share (HK$)每股虧損（港元）(0.01)(0.02)(0.01) EBITDA (HK$ 000) (Note 1) EBITDA（千港元） （附註1）5,337 2,4712,866 (Audited) As at 30th April, 2012 (Audited) As at 30th April, 2011 （經審核）（經審核） 於二零一二年於二零一一年Decrease 四月三十日四月三十日減少 Net debt gearing ratio (%) (Note 2) 淨負債資本比率（%） （附註2）14%28%(14%) Notes : 1. Earnin
12、gs before interest, tax, depreciation and amortisation (“EBITDA”) is computed as loss before tax plus depreciation, interest on bank and other loans, share-based payments expense, the provision of inventories and bad and doubtful debts, impairment loss on available-for-sale investment, impairment lo
13、ss on balances with a former subsidiary and less reversal of provision of inventories, reversal of impairment loss on balances with a former subsidiary and imputed interest income. 2. Net debt gearing ratio is defined as total debts, including borrowings, obligations under finance leases, trust rece
14、ipt loans and bills payable less bank balances and cash over shareholders equity. 財務摘要 附註： 1. 除利息、稅項、折舊及攤銷前盈利 （ EBITDA ） 乃以除稅前虧損，加折舊、銀行及其他貸款之利 息、以股份為基礎之付款開支、存貨及呆壞賬撥 備、可供銷售投資之減值虧損、與一家前附屬公 司結餘之減值虧損及減撥回存貨撥備、撥回與一 家前附屬公司結餘之減值虧損及推算利息收入計 算。 2. 淨負債資本比率定義為債項總額 （包括借貸、融 資租約承擔、信託收據貸款及應付票據） 減銀行 結餘及現金除以股東權益。 6-7
15、Geographical Turnover Analysis 地區營業額分析 Geographical Turnover Analysis for the Years Ended 30th April, 2012 and 2011 截至二零一二年及二零一一年四月三十日止年度之地區營業額分析 Turnover Analysis by Percentage 按百分比列示之營業額分析 EUROPE 歐洲 SINGAPORE 新加坡 USA 美國 OTHER ASIAN COUNTRIES 其他亞洲國家 MALAYSIA 馬來西亞 PRC 中國 PHILIPPINES 菲律賓 HONG KONG 香港
16、 50 40 30 20 10 0 2011 二零一一年 2012 二零一二年 1%1% 7% 8% 24% 15% 13% 11%11% 6% 5% 7% 38% 45% 6% 2% QPL International Holdings Limited Annual Report 2012 年報 Sales and Production Network 銷售及生產網絡 SEOUL 首爾 SHANGHAI 上海 HSINCHU 新竹, KAOHSIUNG 高雄 MANILA 馬尼拉 SINGAPORE 新加坡 DONGGUAN 東莞, SHENZHEN 深圳, HONG KONG 香港 FRE
17、MONT 佛利蒙 8- 9 Chairman s Statement 主席報告 s s s s s s s s Ahead Moving QPL International Holdings Limited Annual Report 2012 年報 Chairman s Statement 主席報告 nnn s s s On behalf of the Board of Directors (the “Board” or “Directors”), I hereby present the results of QPL International Holdings Limited (the
18、“Company”) and its subsidiaries (collectively referred to as the “Group”) for the year ended 30th April, 2012. FINANCIAL RESULTS For the year under review, the Group reported a turnover of HK$279,131,000, representing a decrease of 21% as compared with HK$353,998,000 for the last year. Nevertheless,
19、 the management took effective steps to control costs in light of the falling revenues. Accordingly, the Group s consolidated loss for the year was HK$6,487,000, which was lower than last year s loss of HK$13,153,000. Basic loss per share was HK1 cent (2011: HK2 cents). DIVIDEND The Directors do not
20、 recommend the payment of a dividend for the year (2011: nil). BUSINESS REVIEW The Group faced many challenges in the tough business environment in this financial year. After the buoyant business performance of the previous year, turnover slowed in the first half of this year because of weakened cus
21、tomer demand caused by looming economic uncertainty. The situation deteriorated further in the second half of the year on the back of the sovereign debt crises in Europe and disruptions at the production facilities of certain major customers caused by the extensive flooding in Thailand. As a result,
22、 the Group experienced a sharp contraction in turnover over the second half of the year. Taken as a whole, revenue for the year did not meet expectations. By geographical distribution, the People s Republic of China (the “PRC”) and the Asian countries (which included Hong Kong, Philippines, Malaysia
23、, Singapore, Thailand, Indonesia, India and Korea) were the top markets, which contributed 45% (2011: 38%) and 40% (2011: 49%) respectively of the Group s turnover for the year. In terms of cost of materials and operating costs, the Group also encountered unfavourable conditions. In the first half o
24、f the year, global economic growth in emerging economies fueled a significant rise in global commodity prices, which resulted in an increase in the cost of raw materials. The rise in operating costs in the PRC and the steady appreciation of the Chinese Renminbi undercut profit margins. Nevertheless,
25、 the rising trend of cost of materials and operating costs abated in the second half of the year. Commodity prices dropped in response to the economic downturn and operating costs stabilised as a result of monetary measures undertaken in the PRC to tame inflation. 本人謹此代表董事會 （ 董事會 或 董事 ） 提呈QPL Intern
26、ational Holdings Limited （ 本公司 ） 及其附 屬公司 （統稱 本集團 ） 截至二零一二年四月三十日 止年度之業績。 財務業績 於回顧年度，本集團錄得營業額279,131,000港元， 較去年353,998,000港元減少21%。然而，管理層已 就收入減少採取有效措施控制成本。因此，本集團 之本年度綜合虧損為6,487,000港元，低於去年之虧 損13,153,000港元。每股基本虧損為1港仙 （二零一 一年：2港仙） 。 股息 董事不建議派付本年度股息 （二零一一年：無） 。 業務回顧 於本財政年度，本集團在艱困之營商環境中挑戰重 重。去年業務表現暢旺，但由於經濟不
27、明朗情況顯 著，以致客戶需求疲弱，令本年度上半年之營業額 增長放緩。另外，在歐洲主權債務危機及泰國廣泛 水災使若干主要客戶之生產設施中斷影響下，上述 情況於下半年度進一步惡化。因此，本集團營業額 在下半年度大幅收窄。總體而言，本年度收入未如 預期理想。在地域分佈方面，中華人民共和國 （ 中 國 ） 及亞洲國家 （包括香港、菲律賓、馬來西亞、 新加坡、泰國、印尼、印度及韓國） 屬於本集團之 主要市場，為本年度營業額分別貢獻45% （二零一 一年：38%） 及40% （二零一一年：49%） 。 就材料成本及營運成本而言，本集團亦遇到不利情 況。於本年度上半年，全球新興經濟體系之經濟增 長刺激世界各
28、地商品價格大幅飆升，引致原材料成 本上漲。中國營運成本增加及中國人民幣穩步升值 令利潤率削減。然而，材料成本及營運成本之升勢 於下半年得到緩和。商品價格因經濟放緩而下跌， 營運成本則基於中國實施貨幣政策壓抑通脹而持 穩。 10-11 Chairman s Statement 主席報告 為舒緩市場狀況及成本增加所造成之不利影響，本 集團已採取措施控制材料成本及製造成本。透過提 高產品價格、改善生產效率、減少勞工開支、削 減材料消耗、審慎監管存貨及嚴格控制開支，本集 團之毛利增加及總營運成本減少，得以保持競爭優 勢。因此，在營業額減少21%之前提下，本年度虧 損淨額得以減輕。 流動資金及財務資源
29、於二零一二年四月三十日，本集團之現金及銀行 結餘為13,878,000港元 （二零一一年：8,952,000港 元） 。為撥付營運資金，本集團於二零一二年四月 三十日之未償還債項總額為25,410,000港元 （二零一 一年：33,320,000港元） ，包括信託收據貸款及應 付票據10,719,000港元 （二零一一年：13,358,000港 元） 、無抵押銀行貸款3,646,000港元 （二零一一年： 7,786,000港元） 、融資租約承擔506,000港元 （二零 一一年：1,637,000港元） 及一名董事貸款10,539,000 港元 （二零一一年：10,539,000港元） 。利
30、息成本方 面，14,871,000港元 （二零一一年：22,781,000港元） 為計息貸款，另外10,539,000港元 （二零一一年： 10,539,000港元） 為免息貸款。 於二零一二年四月三十日，淨負債資本比率維持於 14% （二零一一年：28%） 之水平。 外匯風險管理 本集團交易主要以港元、美元及中國人民幣計值。 本集團並無實施任何正式對沖政策。然而，本集團 繼續監察其外匯風險並於有需要時考慮以外匯合約 方式對沖重大外匯風險。 資產抵押 於二零一二年四月三十日，賬面值1,752,000港元 （二零一一年：2,488,000港元） 之機器及設備已作抵 押，以取得授予本集團之融資租約
31、 （二零一一年： 若干銀行融資、銀行貸款及融資租約） 。 In order to alleviate the adverse effects brought on by market conditions and the increased level of costs, actions were taken to control costs of materials and manufacturing costs. Through increasing product price, improving production efficiency, reducing expenditure o
32、n labour, trimming consumable materials, careful regulation of inventory and stringent control of expenditure, the Group managed to increase its margins and lower its total operating costs, thereby sustaining its competitive edge. As a result, the net loss for the year was lower than it would otherw
33、ise have been, given the 21% decrease in turnover. LIQUIDITY AND FINANCIAL RESOURCES The Group s cash and bank balances amounted to HK$13,878,000 as at 30th April, 2012. (2011: HK$8,952,000). To finance its working capital, the Group s total outstanding debts were HK$25,410,000 as at 30th April, 201
34、2 (2011: HK$33,320,000), which comprised HK$10,719,000 (2011: HK$13,358,000) of trust receipt loans and bills payable; HK$3,646,000 (2011: HK$7,786,000) of unsecured bank loan; HK$506,000 (2011: HK$1,637,000) of obligations under finance leases; and a HK$10,539,000 (2011: HK$10,539,000) loan from a
35、director. In terms of interest cost, HK$14,871,000 (2011: HK$22,781,000) was interest bearing and HK$10,539,000 (2011: HK$10,539,000) was interest free. The net debt gearing ratio was maintained at 14% as at 30th April, 2012 (2011: 28%). FOREIGN EXCHANGE RISK MANAGEMENT The Group s transactions are
36、primarily denominated in Hong Kong dollars, United States dollars and Chinese Renminbi. The Group has not implemented any formal hedging policy. However, the Group monitors its foreign exchange exposure continuously and, where appropriate and necessary, would consider hedging significant foreign exp
37、osures by way of foreign exchange contracts. PLEDGE OF ASSETS As at 30th April, 2012, plant and equipment with a carrying value of HK$1,752,000 (2011: HK$2,488,000) was pledged to secure finance leases (2011: certain banking facilities, bank loan and finance leases) granted to the Group. QPL Interna
38、tional Holdings Limited Annual Report 2012 年報 Chairman s Statement 主席報告 資本開支 於截至二零一二年四月三十日止年度，本集團投資 7,289,000港元 （二零一一年：19,954,000港元） 添置 物業、機器及設備。有關資本開支主要由內部財務 資源撥付。 僱員及酬金政策 於二零一二年四月三十日，本集團之僱員總數為 902人 （二零一一年：1,267人） 。本集團繼續奉行其 酬金政策，以確保僱員之薪酬與工作性質、資歷及 經驗相配。此外，本集團將按照本集團及個別僱員 之表現，繼續向合資格員工提供有競爭力之薪酬待 遇、購股權及
39、其他福利。 董事袍金及高級管理人員酬金乃參考彼等之個別職 務及職責、業內專長及經驗、本集團表現及盈利能 力、其他公司之薪酬基準及當時市況而釐定。雖然 董事會保留釐定非執行董事酬金之權力，但檢討及 釐定個別執行董事及本公司高級管理人員之薪酬組 合則委派薪酬委員會負責。 前景 全球經濟前景仍然不明朗。然而，在業內龍頭公司 帶領下，受日本海嘯及泰國水災影響而中斷之生產 已逐步恢復，且從近期本集團所獲訂單增加反映， 半導體市場已呈現復甦跡象。半導體市場將繼續直 接及間接受歐元區金融危機及該危機帶來之潛在不 利經濟衝擊所影響。在並無拖垮增長勢頭之不利宏 觀經濟條件影響下，我們對半導體市場可繼續改善 感到
40、審慎樂觀。為克服未來種種挑戰，本集團致力 採取各種方式促進業務穩健增長及有效管理資源。 此外，本集團將物色其他商機，為本公司股東 （ 股 東 ） 爭取更理想之回報及提升價值。 CAPITAL EXPENDITURE During the year ended 30th April, 2012, the Group invested HK$7,289,000 (2011: HK$19,954,000) in acquiring property, plant and equipment. The capital expenditure was financed mainly from inter
41、nal financial resources. EMPLOYEES AND EMOLUMENT POLICY As at 30th April, 2012, the total number of employees of the Group was 902 (2011: 1,267). The Group maintains its emolument policy to ensure that employee remuneration is commensurate with job nature, qualifications and experience. The Group co
42、ntinues to offer competitive remuneration packages, share options and other benefits to eligible staff, based on the performance of the Group and the individual employees. The fees of the Directors and emolument of senior management are determined with reference to their respective duties and respon
43、sibilities, expertise and experience in the industry, the performance and profitability of the Group as well as remuneration benchmarks from other companies and prevailing market conditions. Whilst the Board retains its power to determine the remuneration of non-executive Directors, the responsibili
44、ty for reviewing and determining the remuneration packages of individual executive Directors and senior management of the Company is delegated to the Remuneration Committee. PROSPECTS Global economic prospects remain uncertain. Nevertheless, with the resumption, by industry trend-setting companies,
45、of production interrupted by the tsunami in Japan and flooding in Thailand, the semiconductor market has shown signs of recovery as reflected in the increased level of orders received by the Group recently. The semiconductor market will continue to be affected directly and indirectly by the Euro zon
46、e financial crisis and the potential adverse economic impact resulting from it. We are cautiously optimistic that the semiconductor market will continue to recover absent adverse macroeconomic conditions that could put a stop to positive momentum. To overcome the challenges ahead, the Group is commi
47、tted to availing itself of every means to promote the healthy growth of its business and the effective management of resources. In addition, the Group will explore other business opportunities, which would bring improved returns and enhanced value to the shareholders of the Company (the “Shareholder
48、s”). 12- Chairman s Statement 主席報告 13 致謝 本人謹代表董事會藉此機會向全體員工為本集團付 出之竭誠努力及貢獻致以衷心謝意，同時衷心感謝 所有客戶、業務夥伴及股東一直以來之支持。 承董事會命 執行主席兼行政總裁 李同樂 香港，二零一二年七月二十六日 APPRECIATION On behalf of the Board, I would like to take this opportunity to express our sincere gratitude to all staff for their dedication and contributio
49、ns to the Group. My sincere appreciation is also extended to all customers, business partners and Shareholders for their continuing support. By Order of the Board Li Tung Lok Executive Chairman and Chief Executive Hong Kong, 26th July, 2012 QPL International Holdings Limited Annual Report 2012 年報 Biographical Details of Directors and Senior Management 董事及高級管理人員個人資料管 hhi a a a 管管 i i ic c c a anna an 管 EXECUTIVE DIRECTORS Mr. Li Tung Lok, aged 60, is the founder of the Group. Mr. Li has been an Executive Director and