QPL INT&39;L 中期报告2013-2014

QPL INT'L 中期报告2013-2014

I n t

e r i m

R e p o r t

2013

-14

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

1

CORPORATE INFORMATION 2

集團資料

FINANCIAL HIGHLIGHTS 3財務摘要

CHAIRMAN’S STATEMENT 4主席報告

INFORMATION PROVIDED IN ACCORDANCE WITH THE LISTING RULES 6根據上市規則提供之資料

CORPORATE GOVERNANCE REPORT 11企業管治報告

REPORT ON REVIEW OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 13簡明綜合財務報表審閱報告

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME 14簡明綜合損益及其他全面收益表

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION 15簡明綜合財務狀況表

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY 16簡明綜合權益變動表

CONDENSED CONSOLIDATED STATEMENT OF CASH FLOWS 17簡明綜合現金流量表

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 18簡明綜合財務報表附註

目錄

CONTENTS

QPL INT'L 中期报告2013-2014

CORPORATE INFORMATION 集團資料

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

2

DIRECTORS

Executive Directors

Li Tung Lok (Executive Chairman and Chief Executive)Phen Hoi Ping Patrick

Independent Non-executive Directors

How Sze Ming Lee Kwok Wan Chan Kin Fung Phil Tsui Lai Ki Vicki

AUDITOR

Deloitte Touche Tohmatsu Certified Public Accountants 35th Floor, One Pacific Place 88 Queensway Hong Kong

LEGAL ADVISORS

Hong Kong

Reed Smith Richards Butler 20th Floor, Alexandra House 18 Chater Road Central, Hong Kong

Bermuda

Appleby

2206-19 Jardine House 1 Connaught Place Central, Hong Kong

PRINCIPAL BANKER

The Hongkong and Shanghai Banking Corporation Limited

REGISTERED OFFICE

Canon’s Court 22 Victoria Street Hamilton HM12Bermuda

HEAD OFFICE AND PRINCIPAL PLACE OF BUSINESS IN HONG KONG

8th Floor, Hale Weal Industrial Building 22-28 Tai Chung Road

Tsuen Wan, New Territories Hong Kong

PRINCIPAL SHARE REGISTRAR AND TRANSFER OFFICE

HSBC Securities Services (Bermuda) Limited 6 Front Street Hamilton HM11Bermuda

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

李同樂（執行主席兼行政總裁）彭海平

侯思明李國雲陳建豐 徐麗琪

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

禮德齊伯禮律師行香港中環遮打道18號歷山大廈20樓

毅柏律師事務所香港中環康樂廣場1號

怡和大廈2206–19室

香港上海滙豐銀行有限公司

Canon’s Court 22 Victoria Street Hamilton HM12Bermuda

香港

新界荃灣

大涌道22-28號合福工業大廈8樓

HSBC Securities Services (Bermuda) Limited 6 Front Street Hamilton HM11Bermuda

卓佳標準有限公司香港

皇后大道東28號金鐘匯中心26樓

243

QPL INT'L 中期报告2013-2014

財務摘要

FINANCIAL HIGHLIGHTS QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

3

Six months ended 31 October Increase 2013 (Unaudited)

2012

二零一二年(Unaudited)（未經審核）

(decrease)

營業額（千港元）

122,722

119,231

3,491Notes:1.

Earnings before interest, tax, depreciation and amortisation (“EBITDA”) is computed as profit (loss) before tax plus depreciation, interest on bank and other loans, provision of inventories and bad and doubtful debts, impairment loss on available-for-sale investment and less reversal of provision of inventories and bad and doubtful debts and fair value gain on derivative financial instrument.

2.

Net debt gearing ratio is defined as total debts, including borrowings, obligations under finance leases and trust receipt loans less bank balances and cash over shareholders’ equity.

附註：

1.

除利息、稅項、折舊及攤銷前盈利（「EBITDA 」）乃以除稅前溢利（虧損），加上折舊、銀行及其他貸款之利息、存貨及呆壞賬撥備、可供出售投資之減值虧損，再減去存貨及呆壞賬撥備之回撥以及衍生金融工具之公允值收益而計算。

2.

淨負債資本比率定義為債項總額（包括借貸、融資租賃承擔及信託收據貸款）減去銀行結餘及現金除以股東權益。

QPL INT'L 中期报告2013-2014

CHAIRMAN’S STATEMENT 主席報告QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告4The Board of Directors (the “Board” or “Directors”) of QPL International Holdings Limited (the “Company”) announces the unaudited consolidated results of the Company and its subsidiaries (collectively the “Group”) for the six months ended 31 October 2013 (the “Period”) together with the comparative figures. The interim financial results and report have not been audited, but has been reviewed by the Company’s auditor and audit committee.

FINANCIAL RESULTS The Group reported a turnover of HK$122,722,000 for the Period, representing an increase of 2.9% as compared with HK$119,231,000 for the same period of last year. The Group’s consolidated loss for the Period amounted to HK$308,000, as compared with HK$4,575,000 for the same period of last year. Loss per share for the Period was HK0.04 cent (2012: HK0.60 cent). The adjusted EBITDA, computed as profit (loss) before tax plus depreciation, interest on bank and other loans, provision of inventories and bad and doubtful debts, impairment loss on available-for-sale investment, and less reversal of provision of inventories and bad and doubtful debts and fair value gain on derivative financial instrument, amounted to HK$6,192,000 (2012: HK$3,047,000).DIVIDEND The Directors do not recommend the payment of an interim dividend for the Period (2012: nil).BUSINESS REVIEW Despite the global economic uncertainties, such as the sluggish recovery in the economy of the United States of America (the “USA”) and the tightening fiscal control imposed on the market of the People’s Republic of China (the “PRC”), the Group achieved a slight increase of 2.9% in turnover during the Period. The Group performed relatively well and enlarged its market share in these two countries. During the Period, the PRC and the USA contributed 38.8% (2012: 35.3%) and 20.2% (2012: 18.4%) respectively to the Group’s turnover. In order to further improve the Group’s financial performance, the Group had been implementing various sales strategies to increase the turnover as well as to enhance the products’ profit margins. The Group would continue to enhance its marketing efforts to expand its market coverage. During the Period, staff costs increased to HK$34,958,000 (2012: HK$31,274,000). The increase was mainly due to an increase in labour costs resulting from the raise of minimum wage standards enforced by the local government in the PRC.LIQUIDITY AND FINANCIAL RESOURCES The Group’s cash and bank balances amounted to HK$8,466,000 at 31 October 2013 (30 April 2013: HK$8,683,000). To finance its working capital, the Group has incurred total outstanding debts of HK$25,562,000 at 31 October 2013 (30 April 2013: HK$21,507,000), which comprised HK$1,065,000 (30 April 2013: HK$1,742,000) of trust receipt loans, HK$22,218,000 (30 April 2013: 13,182,000) of collateralised bank borrowings, nil (30 April 2013: HK$54,000) obligations under finance leases and HK$2,279,000 (30 April 2013: HK$6,529,000) loans from a director. In terms of interest costs, HK$23,283,000 (30 April 2013: HK$14,978,000) was interest bearing and HK$2,279,000 (30 April 2013: HK$6,529,000) was interest debt gearing ratio was 22.5% at 31 October 2013 (30 April 2013: 16.5%).

QPL International Holdings Limited 會（「董事會」或「董事」）公佈本公司及其附屬公司稱「本集團」）截至二零一三年十月三十一日止六個月（「本期間」）之未經審核綜合業績連同比較數字。中期財務業績及報告未經審核，惟已由本公司核數師及審核委員會審閱。

本期間，本集團錄得營業去年同期之119,231,000港元增加2.9%。本集團於本期間之綜合虧損為308,000港元，而去年同期為4,575,000港元。本期間之每股虧損為0.04港仙（二零一二年：0.60港仙）。經調整EBITDA （乃以除稅前溢利（虧損），加上折舊、銀行及其他貸款之利息、存貨及呆壞賬撥備、可供出售投資之減值虧損，再減去存貨及呆壞賬撥備之回撥以及衍生金融工具之公允值收益而計算）為6,192,000港元（二零一二年：3,047,000港元）。 董事不建議派付本期間之中期股息（二零一二年：無）。 儘管面對全球經濟的不明朗因素，如美利堅合眾國（「美國」）經濟復甦緩慢以及中華人民共和國（「中國」）市場所實施之緊縮財政控制措施，但本集團於本期間的營業額仍微升2.9%。本集團獲得相對地理想之表現，並擴大其在上述兩個國家的市場份額。於本期間，中國及美國市場對本集團營業額分別作出38.8%（二零一二年：35.3%）及20.2%（二零一二年：18.4%）之貢獻。為了進一步改善本集團之財務表現，本集團已採取多項銷售策略以增加營業額及提高產品的利潤率。本集團將繼續加強市場推廣工作以擴大市場覆蓋面。於本期間，員工成本增加至34,958,000港元（二零一二年：31,274,000港元）。此增加主要由於中國地方政府上調最低工資水平令到勞工成本上升所致。 於二零一三年十月三十一日，本集團之現金及銀行結餘為8,466,000港元（二零一三年四月三十日：8,683,000港元）。為撥付營運資金，本集團於二零一三年十月三十一日錄得之未償還債項總額為25,562,000港元（二零一三年四月三十日：21,507,000港元），包括信託收據貸款1,065,000港元（二零一三年四月三十日：1,742,000港元）、有抵押銀行借貸為22,218,000港元（二零一三年四月三十日：13,182,000港元）、融資租賃承擔為零（二零一三年四月三十日：54,000港元）及一名董事貸款為2,279,000港元（二零一三年四月三十日：6,529,000港元）。利息成本方面，未償還債項中的23,283,000港元（二零一三年四月三十日：14,978,000港元）為計息貸款，另外2,279,000港元（二零一三年四月三十日：6,529,000港元）為免息貸款。

於二零一三年十月三十一日，淨負債資本比率為

22.5%（二零一三年四月三十日：16.5%）。

QPL INT'L 中期报告2013-2014

主席報告CHAIRMAN’S STATEMENT QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告5FOREIGN ExCHANGE RISK MANAGEMENT The Group’s transactions are primarily denominated in Hong Kong dollars, United States Dollars and Renminbi (“RMB”). The Group monitors its foreign exchange exposure continuously and has entered into foreign exchange forwards contracts to hedge against its exposure to fluctuations PLEDGE OF ASSETS At 31 October 2013, trade receivables with a carrying amount of approximately HK$35,934,000 (30 April 2013: 23,948,000) were pledged to secure bank borrowings granted to the Group.CAPITAL ExPENDITURE During the Period, the Group invested HK$4,166,000 (2012: HK$4,103,000) in acquiring property, plant and equipment. This capital expenditure was financed mainly from internal financial resources.EMPLOYEES AND EMOLUMENT POLICY At 31 October 2013, the total number of employees of the Group was 924 (30 April 2013: 818). The Group maintains its emolument policy to ensure that employee remuneration is commensurate with job nature, qualifications and experience. The Group continues to offer competitive remuneration packages, share options and other benefits to eligible staff, based on the performance of the Group and of individual employees.PROSPECTS The Group improved its performance in the past six months. However, the Group still faces increases in operation costs such as increase in labour costs and appreciation of RMB. In order to enhance its performance, the Group will not only exercise tight control over its expenditure, but will also strengthen its marketing team to enhance market development. Furthermore, the Group continues to review its existing product mix and customer portfolios to focus more on high margin products. To maintain its competitiveness, the Group is putting effort to modify and adjust its production facilities. Through strengthening its engineering efforts in production planning and scheduling, the Group is attempting to optimise its costing structure. The management believes that the Group can then achieve higher production yields, costs savings and lead-time reduction so as to better serve our customers.

According to the latest forecast made by International Data Corporation, an information technology research firm, media tablets and smartphones will continue to be major drivers of electronics and semiconductor growth for the next few years. The Group will put more resources to develop more products for these electronic devices so as to fulfill the rising market demand. In addition, the Group will continue to explore other business opportunities with a view to generating improved returns to the shareholders of the Company (the “Shareholders”).

By Order of the Board Li Tung Lok

Executive Chairman and Chief Executive

Hong Kong, 20 December 2013 本集團之交易主要以港元、美元及人民幣（「人民幣」）計值。本集團持續監察外匯風險並已訂立外匯遠期合約以對沖所面對之人民幣波動風險。

於二零一三年十月三十一日，賬面值約35,934,000港元（二零一三年四月三十日：23,948,000港元）之貿易應收款項已抵押，以取得授予本集團之銀行借貸。 於本期間，本集團投資4,166,000港元（二零一二年：4,103,000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。 於二零一三年十月三十一日，本集團之僱員總數為924人（二零一三年四月三十日：818人）。本集團繼續奉行其薪酬政策，確保僱員薪酬與工作性質、資歷及經驗相稱。本集團繼續按照本集團及個別僱員之表現而向合資格員工提供具競爭力之薪酬待遇、購股權及其他福利。 本集團在過去六個月於業務表現方面有所改善。然而，本集團仍然面對經營成本上漲之情況，如勞工成本上升及人民幣升值。為了提升表現，本集團不但將嚴控開支，並同時增強市場推廣團隊以提升市場發展工作。此外，本集團繼續檢討現有產品組合及客戶組合，以更加專注於高利潤產品。為了保持競爭力，本集團正致力改造及調節旗下生產設施。本集團目前正透過加強生產計劃及安排生產時間表方面的技術工作而嘗試優化成本結構。管理層相信，本集團其時可以實現更高的生產效益、節省成本和縮短交貨時間，從而為客戶提供更佳服務。根據資訊科技研究公司I n t e r n a t i o n a l D a t a Corporation 的最新預測，媒體平板電腦和智能手機於未來數年將繼續成為電子及半導體行業的主要增長原動力。本集團將投放更多資源為這些電子設備開發更多產品，以滿足不斷增長的市場需求。 此外，本集團將繼續發掘可帶來更佳回報及提升本公司股東（「股東」）價值的其他商機。承董事會命執行主席兼行政總裁 香港，二零一三年十二月二十日

QPL INT'L 中期报告2013-2014

INFORMATION PROVIDED IN ACCORDANCE WITH THE LISTING RULES

根據上市規則提供之資料

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

6

DIRECTORS

The Directors during the Period and up to the date of this report were:

Executive Directors

Mr. Li Tung Lok (Executive Chairman and Chief Executive)Mr. Phen Hoi Ping Patrick

Independent Non-executive Directors

Mr. Sze Tsai To Robert

(Retired with effect from the conclusion of the annual general meeting held

on 23 September 2013)Mr. Robert Charles Nicholson (Resigned on 7 October 2013)

Mr. Wong Chun Bong Alex (Retired with effect from the conclusion of the annual general meeting held

on 23 September 2013)Mr. How Sze Ming (Appointed with effect from the conclusion of the annual general meeting held

on 23 September 2013)Mr. Lee Kwok Wan (Appointed with effect from the conclusion of the annual general meeting held

on 23 September 2013)Mr. Chan Kin Fung Phil

(Appointed on 24 October 2013)

Pursuant to bye-law 102 of the Bye-laws of the Company (the “Bye-Laws”), Mr. How Sze Ming, Mr. Lee Kwok Wan and Mr. Chan Kin Fung Phil will hold office until the next following general meeting of the Company, and will then be eligible for re-election at that meeting.

於本期間及截至本報告日期之董事如下：

李同樂先生（執行主席兼行政總裁）彭海平先生

史習陶先生

（自二零一三年九月二十三日舉行之

股東週年大會結束時退任）

黎高臣先生 （於二零一三年十月七日辭任）王振邦先生

（自二零一三年九月二十三日舉行之

股東週年大會結束時退任）

侯思明先生 （自二零一三年九月二十三日舉行之

股東週年大會結束時獲委任）

李國雲先生 （自二零一三年九月二十三日舉行之

股東週年大會結束時獲委任）

陳建豐先生 （於二零一三年十月二十四日獲委任）

按照本公司之公司細則（「公司細則」）第102條，侯思明先生、李國雲先生及陳建豐先生之任期將於本公司下一次股東大會時屆滿，其時將合資格於該大會上膺選連任。

QPL INT'L 中期报告2013-2014

根據上市規則提供之資料

INFORMATION PROVIDED IN ACCORDANCE WITH THE LISTING RULES

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

7

DIRECTORS’ AND CHIEF ExECUTIVE’S INTERESTS IN SHARES AND UNDERLYING SHARES At 31 October 2013, the interests and short positions of the Directors, chief executive and their associates in the shares, underlying shares or debentures of the Company and its associated corporations (within the meaning of Part XV of the Securities and Futures Ordinance (“SFO”)) as recorded in the register required to be kept by the Company pursuant to Section 352 of the SFO or as otherwise notified to the Company and the Stock Exchange of Hong Kong Limited (the “Stock Exchange”) pursuant to the Model Code for Securities Transactions by Directors of Listed Issuers (the “Model Code”) were as follows:

Long position in shares and underlying shares of the

Company

Notes:(a)

The family interests of 3,000,000 shares represent the interest of the wife of Mr. Li Tung Lok.

(b) Mr. Li Tung Lok wholly owns Solar Forward Company Limited, which owns 18,590,944 shares of the Company.

Save as disclosed above, at 31 October 2013, none of the Directors or chief executive of the Company had or was deemed to have any interests or short positions in the shares, underlying shares or debentures of the Company and its associated corporations.

於二零一三年十月三十一日，根據本公司按照證券及期貨條例（「證券及期貨條例」）第352條存置之登記

冊所記錄，或根據上市發行人董事進行證券交易的標準守則（「標準守則」）而已知會本公司及香港聯合交易所有限公司（「聯交所」）之董事、主要行政人員及彼等之聯繫人士於本公司及其相聯法團（定義見證券及期貨條例第XV 部）之股份、相關股份或債權證中

之權益及淡倉如下：

附註：

(a)

家屬權益之3,000,000股股份乃李同樂先生之妻子之權益。

(b)

李同樂先生全資擁有朗通有限公司，該公司擁有18,590,944股本公司股份。

除上文所披露者外，於二零一三年十月三十一日，概無本公司董事或主要行政人員於本公司及其相聯法團之股份、相關股份或債權證中擁有或被視為擁有任何權益或淡倉。

QPL INT'L 中期报告2013-2014

INFORMATION PROVIDED IN ACCORDANCE WITH THE LISTING RULES

根據上市規則提供之資料QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告8SHARE OPTIONS

Equity-settled share option scheme

The Company’s share option scheme (the “Scheme”) was adopted pursuant to an ordinary resolution passed on 29 November 2006. The purpose of the Scheme is to provide the eligible persons (“Eligible Persons”) as defined in the Scheme with the opportunity to acquire interests in the Company and to encourage the Eligible Persons to work towards enhancing the value of the Company and its shares for the benefit of the Company and the Shareholders as a whole. The Board may grant options to Eligible Persons, including, but not limited to, full-time employees or Directors (excluding Mr. Li Tung Lok (“Mr. Li”)) of the Company and subsidiaries (the “Eligible Employee(s)”) or his or her associate.

A share option granted by the Company at nil consideration is exercisable at any time for a period determined by its Directors which shall not be later than the day immediately preceding the fifth anniversary of the date of grant, where the acceptance date should not be later than 28 days after the date of offer. The exercise price (subject to adjustment as provided therein) of the option under the Scheme shall be determined by the Board but shall not be less than the highest of (i) the nominal value of the shares; (ii) the closing price per share as stated in the daily quotation sheet of the Stock Exchange on the date of grant, which must be a business day; or (iii) the average closing price per share as stated in the Stock Exchange’s daily quotation sheet for the five business days immediately preceding the date of grant of the options.The maximum number of shares in respect of which the options may be granted under the Scheme shall not exceed 10% of the issued share capital of the Company at the date of approval of the Scheme. However, the total maximum number of shares which may be issued upon exercise of all outstanding share options must not exceed 30% of the issued share capital of the Company from time to time. The number of shares in respect of which options may be granted to any one grantee in any 12-month period is not permitted to exceed 1% of the shares of the Company in issue in such 12-month period up to and including the proposed date of grant, without prior approval from the Shareholders. No option shall be granted to the Eligible Persons if the aggregate value of shares which may be subscribed in respect of outstanding options exceed (a) in case of an Eligible Employee, 5 times of his or her then gross annual salary and (b) in any other cases, HK$5 million, or any other amount approved by the Board either generally or on a case by case basis.

19,489,750 share options were granted to the Group’s Directors and employees (the “Grantee(s)”) on 3 December 2009 (the “Grant Date”) with nil consideration. 630,000 share options were automatically forfeited upon the retirement/resignation of three independent non-executive Directors and 1,255,000 share options were automatically forfeited upon the resignation of certain employees during the Period. At 31 October 2013, an aggregate of 11,080,000 shares options granted under the Scheme remained outstanding representing 1.4% of the issued share capital of the Company.

根據於二零零六年十一月二十九日通過之普通決議案，本公司採納購股權計劃（給予該計劃界定之合資格人士取得本公司權益，並鼓勵合資格人士為本公司及股東之整體利益而致力提升本公司及其股份之價值。董事會可向合資格人士授出購股權，而該等合資格人士包括（但不限於）本公司及其附屬公司之全職僱員或董事（不包括李同樂先生（「李先生」））（「合資格僱員」）或其聯繫人士。本公司以無償方式授出之購股權可於董事釐定之期間內隨時行使，惟該行使期不可遲於緊接授出日期滿第五週年前一日，而接納日期不應遲於提呈授出日期後28日。根據該計劃所授出購股權之行使價（或會根據該計劃之規定作出調整）由董事會釐定，但不可低於以下的最高者：(i)股份面值；(ii)於授出日期（必須為營業日）聯交所每日報價表所列之每股收市價；或(iii)緊接授出購股權日期前五個營業日聯交所每日報價表所列之每股平均收市價。

根據該計劃可能授出之購股權所涉及之股份最高數目，不得超逾該計劃獲批准當日本公司已發行股本之10%。然而，因所有未行使購股權獲行使而可予發行之股份最高總數，不得超逾本公司不時已發行股本之30%。未經股東事先批准，於任何12個月期間內任何一名承授人所獲授購股權涉及之股份數目，不得超過於截至建議授出日期（包括該日）止的12個月期間內本公司已發行股份之1%。倘合資格人士之尚未行使購股權獲悉數行使後可認購股份總金額超逾(a)（就合資格僱員而言）彼當時之年薪總額5倍及(b)（就任何其他情況而言）5,000,000港元或董事會按一般或個別情況而批准之任何其他金額，則不得向該合資格人士授出購股權。19,489,750份購股權乃於二零零九年十二月三日（「授出日期」）以無償方式授予本集團之董事及僱員（「承授人」）。於本期間，630,000份購股權已於三名獨立非執行董事退任╱辭任時自動被沒收而1,255,000份購股權已於若干僱員辭職後自動被沒收。截至二零一三年十月三十一日，合共11,080,000份根據該計劃授出之購股權仍未行使，相當於本公司已發行股本之1.4%。

QPL INT'L 中期报告2013-2014

根據上市規則提供之資料

INFORMATION PROVIDED IN ACCORDANCE WITH THE LISTING RULES

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

9

(Continued)

Equity-settled share option scheme (Continued)

The movements in the Company’s share options granted to the Directors and Eligible Employees during the Period were as follows:

Movement during the Period

Outstanding at

1 May Outstanding at 31 October

（續）

（續）

本期間內授予董事及合資格僱員之本公司購股權的

變動如下：

QPL INT'L 中期报告2013-2014

INFORMATION PROVIDED IN ACCORDANCE WITH THE LISTING RULES

根據上市規則提供之資料

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

10

Movement during the Period

Date of grant

Outstanding at

1 May 2013 Granted

Exercised

Forfeited

Lapsed

Outstanding at

31 October

No options were granted or exercised during the Period.

Two-third of total share options can be exercised at any time from the date of acceptance whereas one-third of total share options can be exercised on and after the first anniversary of the Grant Date, provided the Grantee has been in continuous employment with the Group for one year, until the date immediately preceding the fifth anniversary of the Grant Date.

A R R A N G E M E N T S T O P U R C H A S E S H A R E S O R DEBENTURES

Other than the share option scheme as described in the sections headed “Directors’ and Chief Executive’s Interests in Shares and Underlying Shares” and “Share Options”, at no time during the Period was the Company or any of its subsidiaries a party to any arrangements to enable the Directors or chief executive of the Company, their spouses or children under the age of 18 to acquire benefits by means of the acquisition of shares or underlying shares in, or debentures of, the Company or any other body corporate, and none of them had any right to subscribe for the securities of the Company or its associated corporations, or had exercised any such right during the Period.

SUBSTANTIAL SHAREHOLDERS’ INTERESTS IN SHARES AND UNDERLYING SHARES

Other than the interests disclosed in “Directors’ and Chief Executive’s Interests in Shares and Underlying Shares”, at 31 October 2013, the Directors and the chief executive of the Company were not aware of any other person (other than the Directors and the chief executive of the Company) who had, or was deemed to have, interests or short positions in the shares or underlying shares of the Company, as recorded in the register required to be kept by the Company pursuant to Section 336 of the SFO.PURCHASE, SALE OR REDEMPTION OF LISTED SECURITIES

During the Period, neither the Company nor any of its subsidiaries purchased, sold or redeemed any of the Company’s listed securities.SHARE OPTIONS (Continued)

Equity-settled share option scheme (Continued)

本期間內概無授出購股權亦無購股權獲行使。承授人可於接納購股權日期起隨時行使全部購股權之三分二，而於授出日期起計之首週年及其後，則可行使全部購股權之三分一，條件為承授人須持續受僱於本集團滿一年，直至緊接授出日期起計滿第五週年前一日為止。

除「董事及主要行政人員於股份及相關股份之權益」及「購股權」兩節所述之購股權計劃外，本公司或其任何附屬公司於本期間內任何時間均無參與任何安排，使本公司董事或主要行政人員、彼等之配偶或18歲以下之子女可藉購入本公司或任何其他法人團體之股份或相關股份或債權證而獲益，而彼等於本期間內並無擁有亦無行使任何可認購本公司或其相聯法團證券之權利。

除「董事及主要行政人員於股份及相關股份之權益」一節所披露之權益外，於二零一三年十月三十一日，本公司董事及主要行政人員並不知悉任何其他人士（本公司董事及主要行政人員除外）於本公司之股份或相關股份中擁有或被視為擁有權益或淡倉並記錄於本公司根據證券及期貨條例第336條存置之登記冊內。

於本期間，本公司或其任何附屬公司概無購買、出售或贖回本公司任何上市證券。

（續）

（續）

QPL INT'L 中期报告2013-2014

企業管治報告CORPORATE GOVERNANCE REPORT QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告11CORPORATE GOVERNANCE PRACTICES

The Company is committed to building and maintaining best practice standards of corporate governance. The corporate governance principles of the Company emphasize a quality Board, effective internal controls, stringent disclosure practices and transparency, independence and accountability to all Shareholders.

The Stock Exchange made certain amendments to the Code on Corporate Governance Practices contained in Appendix 14 to the Rules Governing the Listing of Securities on the Stock Exchange (the “Listing Rules”) and renamed it the Corporate Governance Code (the “CG Code”) with effect from 1 April 2012. The Company has adopted its own Code on Corporate Governance Practices (the “QPL Code”) incorporating the principles and code provisions set out in the CG Code. A copy of the QPL Code is posted on the Company’s website ().

For the Period, the Company has applied the principles and complied with all the code provisions set out in the CG Code except for the deviations explained in the relevant paragraphs below. Nevertheless, such deviations are considered by the Board to be immaterial given the size, nature and circumstances of the Company.Chairman and Chief Executive Officer

Code Provision A.2.1 of the CG Code stipulates that the roles of chairman and chief executive should be separate and should not be performed by the same individual.

Mr. Li has been the Chairman of the Board since the establishment of the Company in January 1989. Mr. Li has also served as the Chief Executive of the Company since January 1989 (except for the period from February 2004 to December 2008). Being the founder of the Group, Mr. Li’s industry expertise and detailed understanding of the Company’s operations is highly regarded by the Company. Accordingly, vesting the roles of Chairman of the Board and Chief Executive in Mr. Li adds significant value to the Company’s business growth while enhancing the efficiency of the decision-making process in response to the changing environment. Given all major decisions are reserved to the Board and a majority of the Board members are independent non-executive Directors, the Company considers that there is an adequate balance of power and authority in place between the Board and the management of the Company. 本公司致力建立及恪守最佳企業管治常規標準。本公司之企業管治原則強調董事會之質素、有效之內部監控、嚴格之披露常規，以及對全體股東開誠布公、獨立及問責。聯交所對聯交所證券上市規則（「上市規則」）附錄14所載之企業管治常規守則作出修訂並將之易名為企業管治守則（「企業管治守則」），由二零一二年四月一日起生效。本公司已採納本身之企業管治常規守則（「QPL 守則」），其涵蓋企業管治守則所載原則及守則條文。QPL 守則於本公司網站()登載。於本期間，除於下文相關段落闡述之偏離情況外，本公司一直應用企業管治守則所載原則，並遵守其所有守則條文。然而，董事會認為，以本公司之規模、性質及具體情況而言，有關偏離並不重大。

企業管治守則之守則條文第A.2.1條規定，主席及行政總裁之角色應予區分，且不應由同一人兼任。自一九八九年一月本公司成立以來，李先生一直擔任董事會主席。自一九八九年一月起，李先生亦出任本公司行政總裁一職（二零零四年二月至二零零八年十二月期間除外）。李先生既為本集團創辦人，彼掌握之行業專門知識及對本公司營運之透徹瞭解為本公司所看重。因此，李先生肩負董事會主席兼行政總裁之角色，可為本公司之業務增長帶來重大價值，同時提高本公司因應環境轉變作出決策之效率。由於所有重大決策均須待董事會決定，而大部分董事會成員均為獨立非執行董事，故本公司認為，董事會與本公司管理層之間已維持足夠權力及職權平衡。

QPL INT'L 中期报告2013-2014

CORPORATE GOVERNANCE REPORT 企業管治報告QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告12CORPORATE GOVERNANCE PRACTICES (Continued)Appointment, Retirement and Re-election of Directors

Code Provision A.4.2 of the CG Code stipulates that every director, including those appointed for a specific term, should be subject to retirement by rotation at least once every three years.

Under the Bye-laws, half of the Directors (excluding Director(s) holding office as executive chairman and/or managing director, who is/are, by virtue of Bermuda law, exempted from retirement by rotation) shall retire from office at each annual general meeting of the Company and shall be eligible for re-election. As the executive Chairman of the Board, Mr. Li is not subject to retirement by rotation. In order to comply with Code Provision A.4.2, Mr. Li has agreed to voluntarily retire and be re-elected at least once every three years. At the annual general meeting of the Company held on 18 September 2012, Mr. Li voluntarily retired from office and was re-elected as executive Director.

The Company currently does not have a Director holding office as its managing director.MODEL CODE FOR SECURITIES TRANSACTIONS BY DIRECTORS

The Board has adopted the Model Code as set out in Appendix 10 of the Listing Rules for dealings in the securities of the Company by Directors. All Directors have confirmed, following specific enquiry by the Company, that they have fully complied with the required standard set out in the Model Code and its code of conduct regarding directors’ securities transactions throughout the Period. （續） 企業管治守則之守則條文第括有指定委任年期者）須至少每三年輪值告退一次。根據公司細則，半數董事（不包括出任執行主席及╱或董事總經理之董事為根據百慕達法例可獲豁免輪值告退）須於本公司各股東週年大會上告退，且將符合資格重選連任。李先生為董事會執行主席，故毋須遵守輪值告退之規定。為遵守守則條文第A.4.2條，李先生已同意至少每三年自願退任一次，並會重選連任。於二零一二年九月十八日舉行之本公司股東週年大會上，李先生已自願退任及重選連任為執行董事。本公司現時並無出任董事總經理一職的董事。

董事會已採納上市規則附錄10所載之標準守則，作為董事買賣本公司證券之守則。經本公司作出具體

查詢後，全體董事均已確認，彼等於本期間一直全面遵守標準守則所載之規定準則及有關董事證券交易之行為守則。

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

13

簡明綜合財務報表審閱報告

REPORT ON REVIEW OF CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

TO THE BOARD OF DIRECTORS OF

QPL INTERNATIONAL HOLDINGS LIMITED (incorporated in Bermuda with limited liability)

INTRODUCTION

We have reviewed the condensed consolidated financial statements of QPL International Holdings Limited (the “Company”) and its subsidiaries (collectively referred to as the “Group”) set out on pages 14 to 36, which comprise the condensed consolidated statement of financial position as of 31 October 2013 and the related condensed consolidated statement of

profit or loss and other comprehensive income, statement of changes in

equity and statement of cash flows for the six-month period then ended,

and certain explanatory notes. The Main Board Listing Rules Governing

the Listing of Securities on The Stock Exchange of Hong Kong Limited require the preparation of a report on interim financial information to be in compliance with the relevant provisions thereof and Hong Kong Accounting Standard (“HKAS”) 34 “Interim Financial Reporting” issued by the Hong Kong Institute of Certified Public Accountants. The directors of the Company are responsible for the preparation and presentation of these condensed consolidated financial statements in accordance with HKAS 34. Our responsibility is to express a conclusion on these condensed consolidated financial statements based on our review, and to report our conclusion solely to you, as a body, in accordance with our agreed terms of engagement, and for no other purpose. We do not assume responsibility towards or accept liability to any other person for the contents of this report.

SCOPE OF REVIEW

We conducted our review in accordance with Hong Kong Standard on Review Engagements 2410 “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” issued by the Hong Kong Institute of Certified Public Accountants. A review of these condensed consolidated financial statements consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with Hong Kong Standards on Auditing and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion.

CONCLUSION

Based on our review, nothing has come to our attention that causes us

to believe that the condensed consolidated financial statements are not prepared, in all material respects, in accordance with HKAS 34.

Deloitte Touche Tohmatsu Certified Public Accountants Hong Kong

20 December 2013

QPL INTERNATIONAL HOLDINGS LIMITED

（於百慕達註冊成立之有限公司）

本行已審閱載於第14至36頁QPL International Holdings Limited （「貴公司」）及其附屬公司（統稱「貴集團」）之簡明綜合財務報表，當中包括於二零一三年十月三十一日之簡明綜合財務狀況表，以及截至該日止六個月期間之相關簡明綜合損益及其他全面

收益表、權益變動表及現金流量表，以及若干附註

解釋。根據香港聯合交易所有限公司主板證券上市

規則，編製中期財務資料之報告須遵守該規則下相關條文，以及香港會計師公會頒佈之香港會計準則

（

「香港會計準則」）第34號「中期財務報告」。　貴公司董事須負責根據香港會計準則第34號編製及呈列此等簡明綜合財務報表。本行之責任乃根據本行之審閱結果就此等簡明綜合財務報表作出結論，並按照與本行協定之聘用條款，僅向　閣下全體報告。除此以外，本報告不作其他用途。本行概不就本報告之內容對任何其他人士負責或承擔法律責任。

本行已根據香港會計師公會頒佈之《香港審閱委聘準則》第2410號「實體獨立核數師對中期財務資料之審閱」進行審閱。審閱此等簡明綜合財務報表包括向負責財務及會計事務之人士作出查詢，並應用分析性及其他審閱程序。由於審閱的範圍遠較根據香港核數準則進行審核之範圍為小，故本行未能保證本行會注意到在審核中可能發現之所有重大事項。因此，本行不會發表審核意見。

根據本行之審閱，本行並無發現任何事項使本行相信本簡明綜合財務報表在所有重大方面沒有根據香港會計準則第34號編製。 ? 執業會計師香港

二零一三年十二月二十日

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

14

CONDENSED CONSOLIDATED STATEMENT OF PROFIT OR LOSS AND OTHER COMPREHENSIVE INCOME

For the Six Months ended 31 October 2013

簡明綜合損益及其他全面收益表截至二零一三年十月三十一日止六個月

Six months ended 31 October

NOTES 附註

2013 HK$’000

(Unaudited)

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

15

簡明綜合財務狀況表

於二零一三年十月三十一日

CONDENSED CONSOLIDATED STATEMENT OF FINANCIAL POSITION

NOTES 附註

At 31 October

2013

HK$’000 (Unaudited)

At 30 April

2013

於二零一三年四月三十日HK$’000千港元(Audited)（經審核）

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

16

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN EQUITY

For the Six Months ended 31 October 2013

簡明綜合權益變動表

截至二零一三年十月三十一日止六個月

Share capital

HK$’000

Share premium

HK$’000 Contributed surplus

HK$’000 Capital redemption reserve HK$’000 Investment revaluation reserve HK$’000

Share options reserve HK$’000 At 1 May 2012 (audited)於二零一二年五月一日（經審核）61,390147,812

40,47512,3103424,748

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

17

簡明綜合現金流量表

截至二零一三年十月三十一日止六個月

CONDENSED CONSOLIDATED STATEMENT OF For the Six Months ended 31 October 2013

Six months ended 31 October

2013 HK$’000 (Unaudited) 2012二零一二年HK$’000千港元

(Unaudited)（未經審核）

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告

18

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the Six Months ended 31 October 2013

簡明綜合財務報表附註

截至二零一三年十月三十一日止六個月

1. BASIS OF PREPARATION

The condensed consolidated financial statements have been prepared in accordance with Hong Kong Accounting Standard (“HKAS”) 34 Interim Financial Reporting issued by the Hong Kong Institute of Certified Public Accountants (the “HKICPA”) as well as with the applicable disclosure requirements of Appendix 16 to the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited (the “Stock Exchange”).

2. PRINCIPAL ACCOUNTING POLICIES

The condensed consolidated financial statements have been

prepared on the historical cost basis except for certain financial instruments, which are measured at fair values, as appropriate.Except as described below, the accounting policies and methods of computation used in the condensed consolidated financial statements for the six months ended 31 October 2013 are the same as those followed in the preparation of the Group’s annual financial statements for the year ended 30 April 2013.

In the current interim period, the Group has applied, for the first time, the following new or revised Hong Kong Financial Reporting Standards (“HKFRSs”) issued by the HKICPA that are relevant for the preparation of the Group’s condensed consolidated financial statements:

Amendments to HKFRSs Annual improvements to HKFRSs

2009-2011 cycle

Amendments to HKFRS 7 Disclosures – Offsetting financial

assets and financial liabilities Amendments to HKFRS 10, Consolidated financial

HKFRS 11 and HKFRS 12 statements, joint arrangements and disclosure of interests in other entities: Transition

guidance

HKFRS 10 Consolidated financial statements HKFRS 11 Joint arrangements HKFRS 12 Disclosure of interests in

other entities

HKFRS 13

Fair value measurement HKAS 19 (as revised in 2011) Employee benefits

HKAS 27 (as revised in 2011) Separate financial statements HKAS 28 (as revised in 2011) Investments in associates and

joint ventures

Amendments HKAS 1 Presentation of items of other

comprehensive income

HK(IFRIC)-Int 20 Stripping costs in the production

phase of a surface mine

1.

簡明綜合財務報表乃根據香港會計師公會（「香港會計師公會」（「香港會計準則」）第香港聯合交易所有限公司市規則附錄16之適用披露規定而編製。

2.

簡明綜合財務報表乃按歷史成本基準編製，惟若干金融工具按公允值計量（如適用）除外。

除下文所述者外，截至二零一三年十月三十一日止六個月之簡明綜合財務報表所用之會計政策及計算方法，與編製本集團截至二零一三年四月三十日止年度之年度財務報表所依循者相同。

於本中期期間，本集團首次應用以下由香港會計師公會頒佈並與編製本集團簡明綜合財務報表有關之新訂或經修訂香港財務報告準則（「香港財務報告準則」）：

香港財務報告準則 二零零九年至二零一一年

之修訂本 週期香港財務報告準則之

年度改進

香港財務報告準則第7號 披露－抵銷金融資產及 之修訂本

金融負債

香港財務報告準則第10號、 綜合財務報表、合營安排及 香港財務報告準則 其他實體之權益披露： 第11號及香港財務報告 過渡指引

準則第12號之修訂本

香港財務報告準則第10號 綜合財務報表香港財務報告準則第11號 合營安排香港財務報告準則第12號 其他實體之權益披露香港財務報告準則第13號 公允值計量香港會計準則第19號

僱員福利 （於二零一一年修訂）香港會計準則第27號 獨立財務報表

（於二零一一年修訂）香港會計準則第28號 於聯營公司及合營企業之投資 （於二零一一年修訂）香港會計準則第1號 呈列其他全面收益項目 之修訂本香港（國際財務報告詮釋 露天礦場生產階段之剝採成本

委員會）－詮釋第20號

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED

INTERIM REPORT 2013-2014 中期報告19簡明綜合財務報表附註截至二零一三年十月三十一日止六個月

NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the Six Months ended 31 October 2013PRINCIPAL ACCOUNTING POLICIES (Continued)

HKFRS 13 Fair value measurement

The Group has applied HKFRS 13 for the first time in the current interim period. HKFRS 13 establishes a single source of guidance for, and disclosures about, fair value measurements, and replaces those requirements previously included in various HKFRSs. Consequential amendments have been made to HKAS 34 to require certain disclosures to be made in the interim condensed consolidated financial statements.

The scope of HKFRS 13 is broad, and applies to both financial instrument items and non-financial instrument items for which other HKFRSs require or permit fair value measurements and disclosures about fair value measurements, subject to a few exceptions. HKFRS 13 contains a new definition for ‘fair value’ and defines fair value as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or most advantageous) market at the measurement date under current market conditions. Fair value under HKFRS 13 is an exit price regardless of whether that price is directly observable or estimated using another valuation technique. Also, HKFRS 13 includes extensive disclosure requirements.In accordance with the transitional provisions of HKFRS 13, the Group has applied the new fair value measurement and disclosure requirements prospectively. Disclosures of fair value information are set out in note 21. 2. （續） 13 本集團於本中期期間首次應用香港財務報告準則第13號。香港財務報告準則第13號就公允值計量及有關公允值計量之披露制定單一指引，並取代過往包含於不同香港財務報告準則之規定。香港會計準則第34號作出之相應修訂規定於中期簡明綜合財務報表作出若干披露。香港財務報告準則第13號之範圍廣泛，並適用於其他香港財務報告準則規定或允許公允值計量及有關公允值計量披露之金融工具項目及非金融工具項目，惟少數例外情況除外。香港財務報告準則第13號載列「公允值」之新定義，將公允值界定為在現時市況於計量日期在主要（或最有利之）市場按有秩序交易出售一項資產將收取之價格或轉讓一項負債時將支付之價格。根據香港財務報告準則第13號，不論該價格是否直接可觀察或使用另一項估值技術作估計，公允值為平倉價格。此外，香港財務報告準則第13號載有廣泛之披

露規定。

根據香港財務報告準則第13號之過渡條文，本集團已提前應用新公允值計量及披露規定。公允值資料之披露載於附註21。

QPL INT'L 中期报告2013-2014

QPL INTERNATIONAL HOLDINGS LIMITED INTERIM REPORT 2013-2014 中期報告20NOTES TO THE CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

For the Six Months ended 31 October 2013簡明綜合財務報表附註截至二零一三年十月三十一日止六個月

2. PRINCIPAL ACCOUNTING POLICIES (Continued)

Amendments to HKAS 1 Presentation of items of other comprehensive income

The amendments to HKAS 1 introduce new terminology for statement of comprehensive income and income statement. Under the amendments to HKAS 1, a statement of comprehensive income is renamed as a statement of profit or loss and other comprehensive income and an income statement is renamed as a statement of profit or loss. The amendments to HKAS 1 retain the option to present profit or loss and other comprehensive income in either a single statement or in two separate but consecutive statements.

However, the amendments to HKAS 1 require additional disclosures to be made in the other comprehensive section such that items of other comprehensive income are grouped into two categories: (a) items that will not be reclassified subsequently to profit or loss; and (b) items that may be reclassified subsequently to profit or loss when specific conditions are met. Income tax on items of other comprehensive income is required to be allocated on the same basis – the amendments do not change the existing option to present items of other comprehensive income either before tax or net of tax. The amendments have been applied retrospectively, and hence the presentation of items of other comprehensive income has been modified to reflect the changes.Amendments to HKAS 34 Interim financial reporting (as part of the annual improvements to HKFRSs 2009-2011 cycle)

The Group has applied the amendments to HKAS 34 Interim Financial Reporting as part of the Annual Improvements to HKFRSs 2009 – 2011 Cycle for the first time in the current interim period. The amendments to HKAS 34 clarify that the total assets and total liabilities for a particular reportable segment would be separately disclosed in the interim financial statements only when the amounts are regularly provided to the chief operating decision maker (the “CODM”) and there has been a material change from the amounts disclosed in the last annual financial statements for that reportable segment.

Since the CODM review assets of the Group’s reportable segment for performance assessment and resource allocation purposes, the Group has included total asset information as part of segment information in note 3. 2. （續） 1 香港會計準則第1號之修訂本為全面收益表及收益表引入新術語。根據香港會計準則第之修訂本，全面收益表易名為損益及其他全面收益表而收益表易名為損益表。香港會計準則第1號之修訂本保留以單一報表或以兩份獨立但相連的報表呈列損益及其他全面收益的選擇。然而，香港會計準則第1號之修訂本規定於其他全面收益一節作出額外披露，其他全面收益項目因此劃分為兩類：(a)其後不會重新分類至損益之項目；及(b)當符合特定條件時，可於其後重新分類至損益之項目。其他全面收益項目之所得稅須按相同基準分配，該等修訂並無改變按除稅前或除稅後呈列其他全面收益項目之現有選擇權。該等修訂已追溯應用，因此其他全面收益項目之呈列已予修訂以反映有關變動。

34 本集團於本中期期間首次應用香港會計準則第34號之修訂本中期財務報告（作為二零零九年至二零一一年週期香港財務報告準則之年度改進的一部份）。香港會計準則第34號之修訂本澄清，僅於某特定可報告分部之總資產及總負債之金額是定期向主要經營決策者（「主要經營決策者」）提供而該金額較最近年度財務報表就該可報告分部所披露之金額有重大變動時，才會於中期財務報表獨立披露總資產及總負債。由於主要營運決策者審視本集團可報告分部之資產以作表現評核及資源分配，本集團已於附註3載入總資產資料作為分部資料的一部份。

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