<SEC-DOCUMENT>0000891092-20-004769.txt : 20200327
<SEC-HEADER>0000891092-20-004769.hdr.sgml : 20200327
<ACCEPTANCE-DATETIME>20200327134803
ACCESSION NUMBER:		0000891092-20-004769
CONFORMED SUBMISSION TYPE:	SC 13D/A
PUBLIC DOCUMENT COUNT:		1
FILED AS OF DATE:		20200327
DATE AS OF CHANGE:		20200327

SUBJECT COMPANY:	

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DESWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000946936
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS PRODUCTS, NEC [3089]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13D/A
		SEC ACT:		1934 Act
		SEC FILE NUMBER:	005-60367
		FILM NUMBER:		20750459

	BUSINESS ADDRESS:	
		STREET 1:		10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU
		STREET 2:		32 RUA DO COMANDANTE MATA E OLIVEIRA
		CITY:			MACAO
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		2127320030

	MAIL ADDRESS:	
		STREET 1:		10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU
		STREET 2:		32 RUA DO COMANDANTE MATA E OLIVEIRA
		CITY:			MACAO
		STATE:			F4
		ZIP:			00000

FILED BY:		

	COMPANY DATA:	
		COMPANY CONFORMED NAME:			DESWELL INDUSTRIES INC
		CENTRAL INDEX KEY:			0000946936
		STANDARD INDUSTRIAL CLASSIFICATION:	PLASTICS PRODUCTS, NEC [3089]
		IRS NUMBER:				000000000
		FISCAL YEAR END:			0331

	FILING VALUES:
		FORM TYPE:		SC 13D/A

	BUSINESS ADDRESS:	
		STREET 1:		10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU
		STREET 2:		32 RUA DO COMANDANTE MATA E OLIVEIRA
		CITY:			MACAO
		STATE:			F4
		ZIP:			00000
		BUSINESS PHONE:		2127320030

	MAIL ADDRESS:	
		STREET 1:		10B EDIFICIO ASSOCIACAO INDUSTRIAL MACAU
		STREET 2:		32 RUA DO COMANDANTE MATA E OLIVEIRA
		CITY:			MACAO
		STATE:			F4
		ZIP:			00000
</SEC-HEADER>
<DOCUMENT>
<TYPE>SC 13D/A
<SEQUENCE>1
<FILENAME>e9027sch13da.htm
<DESCRIPTION>FORM 13D/A
<TEXT>
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<HEAD>
<TITLE></TITLE>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
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    <TD STYLE="width: 100%; border-top: Black 1.5pt double; font: 12pt Times New Roman, Times, Serif; padding-right: 5.4pt; padding-left: 5.4pt">&nbsp;</TD></TR>
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<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>UNITED STATES</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SECURITIES AND EXCHANGE COMMISSION</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SCHEDULE 13D/A</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>Under the Securities Exchange Act of 1934</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>(Amendment No. 26)*</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; padding-right: 5.4pt; padding-left: 5.4pt; font: 12pt Times New Roman, Times, Serif; text-align: center"><FONT STYLE="font-size: 16pt"><B>Deswell Industries, Inc.</B></FONT></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-top: Black 0.5pt solid"><I>(Name of Issuer)</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">Common shares,
no par value</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Title of Class of Securities)</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">250639 10
1</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(CUSIP Number)</I></P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<DIV STYLE="padding: 0in; border-bottom: Black 0.75pt solid">

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Carrie Leahy</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Bodman PLC</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">201 S. Division, Suite 400</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">Ann Arbor, MI 48104</P>

</DIV>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Name, Address and Telephone Number of Person
Authorized to Receive Notices and Communications)</I></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center; border-bottom: Black 0.75pt solid">March 13,
2020</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0; text-align: center"><I>(Date of Event which Requires Filing of this
Statement)</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0"><I>&nbsp;</I></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.55in; text-align: justify">If the filing person has previously
filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule
because of &sect;&sect;240.13d-1(e), 240.13d-1(f) or 240.13d-1(g), check the following box. <FONT STYLE="font-family: Wingdings">o</FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.55in; text-align: justify"><B>Note</B>: Schedules filed in
paper format shall include a signed original and five copies of the schedule, including all exhibits. See &sect;240.13d-7 for other
parties to whom copies are to be sent.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.55in; text-align: justify">* The remainder of this cover page
shall be filled out for a reporting person's initial filing on this form with respect to the subject class of securities, and for
any subsequent amendment containing information which would alter disclosures provided in a prior cover page.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.55in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0 0 0 0.55in; text-align: justify">The information required on the
remainder of this cover page shall not be deemed to be &quot;filed&quot; for the purpose of Section 18 of the Securities Exchange
Act of 1934 (&quot;Act&quot;) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other
provisions of the Act (however, see the Notes).</P>

<P STYLE="font: 8pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 12pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR>
    <TD COLSPAN="7" STYLE="border-top: Black 1pt solid; padding: 6pt 4pt; border-right: Black 1pt solid; border-left: Black 1pt solid; text-align: center"><FONT STYLE="font-size: 11pt"><B>SCHEDULE 13D/A</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="5" STYLE="border-left: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt"><B><U>CUSIP No. &nbsp;&nbsp;250639 10 1</U></B></FONT></TD>
    <TD COLSPAN="2" STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top"><FONT STYLE="font-size: 11pt"><B>&nbsp;</B></FONT></TD></TR>
<TR>
    <TD COLSPAN="6" STYLE="border-left: Black 1pt solid; padding: 6pt 4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-top: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">1.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-top: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Names of Reporting Persons.</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Richard Pui Hon Lau</P></TD>
    <TD STYLE="border-top: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-right: Black 1pt solid; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding: 6pt 4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top"><FONT STYLE="font-size: 11pt">2.</FONT></TD>
    <TD COLSPAN="4" STYLE="padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Check the Appropriate Box if a Member of a Group (See Instructions)</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-left: Black 1pt solid; padding: 6pt 4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">(a)</FONT></TD>
    <TD COLSPAN="2" STYLE="padding: 6pt 4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">(b)</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">3.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">SEC Use Only</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">4.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Source of Funds (See Instructions)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">PF</P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">5.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Check if Disclosure of Legal Proceedings Is Required Pursuant to Items 2(d) or 2(e) &nbsp;&nbsp;&nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o</FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">6.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Citizenship or Place of Organization</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Hong Kong</P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD COLSPAN="3" ROWSPAN="4" STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid; border-left: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Number of</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Shares</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Beneficially</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Owned by</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Each</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Reporting</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Person With</P>
</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; width: 5%"><FONT STYLE="font-size: 11pt">7.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Sole Voting Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,824,526</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid">&nbsp;</TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; width: 5%"><FONT STYLE="font-size: 11pt">8.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Shared Voting Power&nbsp;&nbsp;&nbsp;0 </P>
        </TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; width: 5%"><FONT STYLE="font-size: 11pt">9.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Sole Dispositive Power&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,824,526</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; white-space: nowrap; vertical-align: top; border-bottom: Black 1pt solid; width: 5%"><FONT STYLE="font-size: 11pt">10.</FONT></TD>
    <TD COLSPAN="2" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Shared Dispositive Power&nbsp;&nbsp;&nbsp;0 </FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">11.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Aggregate Amount Beneficially Owned by Each Reporting Person&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;8,824,526</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">12.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Check if the Aggregate Amount in Row (11) Excludes Certain Shares (See Instructions) &nbsp;&nbsp;<FONT STYLE="font-family: Wingdings">o </FONT></FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">13.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt"><FONT STYLE="font-size: 11pt">Percent of Class Represented by Amount in Row (11)&nbsp;&nbsp;&nbsp;54.76%</FONT></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt; border-left: Black 1pt solid">&nbsp;</TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; vertical-align: top; border-bottom: Black 1pt solid"><FONT STYLE="font-size: 11pt">14.</FONT></TD>
    <TD COLSPAN="4" STYLE="border-bottom: Black 1pt solid; padding: 6pt 4pt">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">Type of Reporting Person (See Instructions)</P>
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">IN</P></TD>
    <TD STYLE="border-right: Black 1pt solid; padding: 6pt 4pt; border-bottom: Black 1pt solid">
        <P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P></TD></TR>
<TR>
    <TD STYLE="padding: 6pt 4pt; width: 6%">&nbsp;</TD>
    <TD STYLE="padding: 6pt 4pt; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 6pt 4pt; width: 3%">&nbsp;</TD>
    <TD STYLE="padding: 6pt 4pt; white-space: nowrap; width: 5%">&nbsp;</TD>
    <TD STYLE="padding: 6pt 4pt; width: 57%">&nbsp;</TD>
    <TD STYLE="padding: 6pt 4pt; width: 18%">&nbsp;</TD>
    <TD STYLE="padding: 6pt 4pt; width: 6%">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">This Amendment No. 26 to Schedule
13D (this &#8220;Amendment&#8221;) amends and supplements the statements on the Amendment No. 1 to Schedule 13D (&#8220;Amendment
No. 1&#8221;) filed by Mr. Richard Pui Hon Lau (&#8220;Mr. Lau&#8221;) with the Securities and Exchange Commission (the &#8220;Commission&#8221;)
on May 30, 2014, the Amendment No. 2 to Schedule 13D filed by Mr. Lau with the Commission on July 29, 2014 (&#8220;Amendment No.
2&#8221;), the Amendment No. 3 to Schedule 13D filed by Mr. Lau with the Commission on September 29, 2014 (&#8220;Amendment No.
3&#8221;), the Amendment No. 4 to Schedule 13D filed by Mr. Lau with the Commission on February 9, 2015 (&#8220;Amendment No. 4&#8221;),
the Amendment No. 5 to Schedule 13D filed by Mr. Lau with the Commission on April 30, 2015 (&#8220;Amendment No. 5&#8221;), the
Amendment No. 6 to Schedule 13D filed by Mr. Lau with the Commission on July 10, 2015 (&#8220;Amendment No. 6&#8221;),</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">the Amendment No. 7 to Schedule
13D filed by Mr. Lau with the Commission on August 7, 2015 (&#8220;Amendment No. 7&#8221;), the Amendment No. 8 to Schedule 13D
filed by Mr. Lau with the Commission on November 2, 2015 (&#8220;Amendment No. 8&#8221;), the Amendment No. 9 to Schedule 13D filed
by Mr. Lau with Commission on November 27, 2015 (&#8220;Amendment No. 9&#8221;), the Amendment No. 10 to Schedule 13D filed by
Mr. Lau with the Commission on January 7, 2016 (&#8220;Amendment No. 10&#8221;), the Amendment No. 11 to Schedule 13D filed by
Mr. Lau with the Commission on February 18, 2016 (&#8220;Amendment No. 11&#8221;), the Amendment No. 12 to Schedule 13D filed by
Mr. Lau with the Commission on July 22, 2016 (&#8220;Amendment No. 12&#8221;), the Amendment No. 13 to Schedule 13D filed by Mr.
Lau with the Commission on September 23, 2016 (&#8220;Amendment No. 13&#8221;), the Amendment No. 14 to Schedule 13D filed by Mr.
Lau with the Commission on November 16, 2016 (&#8220;Amendment No. 14&#8221;), the Amendment No. 15 to Schedule 13D filed by Mr.
Lau with the Commission on April 13, 2017 (&#8220;Amendment No. 15&#8221;), the Amendment No. 16 to Schedule 13D filed by Mr. Lau
with the Commission on June 14, 2017 (&#8220;Amendment No. 16&#8221;), the Amendment No. 17 filed by Mr. Lau with the Commission
on July 12, 2017 (&#8220;Amendment No. 17,&#8221;), the Amendment No. 18 to Schedule 13D filed by Mr. Lau with the Commission on
September 21, 2017 (&#8220;Amendment No. 18&#8221;), the Amendment No. 19 to Schedule 13D filed by Mr. Lau with the Commission
on November 15, 2017 (&#8220;Amendment No. 19&#8221;), the Amendment No. 20 to Schedule 13D filed by Mr. Lau with the Commission
on February 1, 2018 (&#8220;Amendment No. 20&#8221;), the Amendment No. 21 to Schedule 13D filed by Mr. Lau with the Commission
on July 25, 2018 (&#8220;Amendment No. 21&#8221;), the Amendment No. 22 to Schedule 13D filed by Mr. Lau with the Commission on
October 25, 2018 (&#8220;Amendment No. 22&#8221;), the Amendment No. 23 to Schedule 13D filed by Mr. Lau with the Commission on
December 11, 2018 (&#8220;Amendment No. 23&#8221;), the Amendment No. 24 to Schedule 13D filed by Mr. Lau with the Commission on
May 24, 2019 (&#8220;Amendment No. 24&#8221;), and the Amendment No. 25 to Schedule 13D filed by Mr. Lau with the Commission on
November 20, 2019 (&#8220;Amendment No. 25,&#8221; and, collectively with Amendment No. 1, Amendment No. 2, Amendment No. 3, Amendment
No. 4, Amendment No. 5, Amendment No. 6, Amendment No. 7, Amendment No. 8, Amendment No. 9, Amendment No. 10, Amendment No. 11,
Amendment No. 12, Amendment No. 13, Amendment No. 14, Amendment No. 15, Amendment No. 16, Amendment No. 17, Amendment No. 18, Amendment
No. 19, Amendment No. 20, Amendment No. 21, Amendment No. 22, Amendment 23, and Amendment No. 24, the &#8220;Prior Amendments&#8221;),
each with respect to the common shares without par value (&#8220;Common Shares&#8221;) of Deswell Industries, Inc., a company organized
under the laws of the British Virgin Islands (the &#8220;Company&#8221;).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">The percentage calculations in the
above cover page, and as set forth below, are based on a total outstanding number of Common Shares of <FONT STYLE="background-color: white">16,115,239.
Such number</FONT> represents 15,915,239 outstanding Common Shares (as disclosed by the Company as of September 30, 2019), plus
the 200,000 Common Shares immediately exercisable by Mr. Lau under the Stock Option (as defined in Item 3).</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">Except as set forth herein, the
Prior Amendments remain unmodified.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><B><U>Item 4. Purpose of Transaction</U>.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">Mr. Lau acquired the Common Shares
described in this Schedule 13D for investment purposes. Mr. Lau intends to review his investment in the Company on a continuing
basis. Depending on the price and availability of the Company&#8217;s securities, developments affecting the Company, the business
prospects of the Company, general stock market and economic conditions, tax considerations, investment considerations and/or other
factors deemed relevant, Mr. Lau may consider increasing or decreasing his investment in the Company, through one or more open
market purchases or private transactions.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">As of November 19, 2018, Mr. Lau
beneficially owns the majority of the outstanding Common Shares of the Company. This will impede the acquisition of control by
any other person, unless Mr. Lau elects to sell his Common Shares. Mr. Lau does not have any current plans or proposals that relate
to or would result in any of the actions set forth in clauses (a) through (j) of Item 4 of Schedule 13D.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><B><U>Item 5. Interest in Securities of the Issuer</U>.</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in"><B>&nbsp;</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(a &#8211; b) As a result of the
open market purchases consummated by Mr. Lau since November 20, 2019, as of the date hereof Mr. Lau beneficially owns 8,824,526
Common Shares. Such shares consist of 8,624,526 Common Shares held</P>


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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">of record by Mr. Lau and an immediately
exercisable option to purchase up to 200,000 Common Shares. Such holdings represent 54.76% of the Common Shares. Mr. Lau has sole
power to vote and dispose of all Common Shares held of record by Mr. Lau as of the date hereof, and upon exercise of any portion
of the Stock Option, would have sole power to vote and dispose of any Common Shares so acquired.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(c) Mr. Lau has individually engaged
in and effected the following open market purchases of Common Shares in the past sixty days:</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" ALIGN="CENTER" STYLE="font: 12pt Times New Roman, Times, Serif; width: 60%; border-collapse: collapse">
<TR>
    <TD STYLE="border: Black 1pt solid; white-space: nowrap; width: 40%; padding-right: 5.4pt; text-align: center"><B><U>Purchase Date</U></B></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; width: 25%; padding-right: 5.4pt; text-align: center"><B><U>Number of<BR>
Shares<BR>
Purchased</U></B></TD>
    <TD STYLE="border-top: Black 1pt solid; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; width: 35%; padding-right: 5.4pt; text-align: center"><B><U>Purchase Price</U></B></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">February 10, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">1,005 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">February 13, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">100 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">February 25, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;161 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">February 26, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;90 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">February 27, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;895 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">February 28, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;5,188 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 2, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3,624 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 3, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,043 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 4, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,894 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.71</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 5, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,329 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.69</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 6, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2,768 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.69</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 9, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;14,903 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.69</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 10, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;9,801 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.65</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 11, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;12,158 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.65</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 12, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;1,744 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.65</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 13, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;26,297 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.65</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 16, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;21,849 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.60</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 17, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;200 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.60</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 18, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">14,051 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.60</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 19, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;13,388 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.60</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 19, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;512 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.50</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 20, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;22,952 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.40</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 23, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;27,048 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.40</FONT></TD></TR>
<TR>
    <TD STYLE="width: 40%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; border-left: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right">March 24, 2020</TD>
    <TD STYLE="border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;427 </FONT></TD>
    <TD STYLE="width: 35%; border-right: Black 1pt solid; border-bottom: Black 1pt solid; white-space: nowrap; padding-right: 5.4pt; text-align: right"><FONT STYLE="color: #333333">$2.30</FONT></TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">(d) Not applicable.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">(e) Not applicable.</P>


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    <DIV STYLE="page-break-before: always; margin-top: 6pt"><TABLE CELLPADDING="0" CELLSPACING="0" STYLE="width: 100%"><TR><TD STYLE="text-align: center; width: 100%">&nbsp;</TD></TR></TABLE></DIV>
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<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-align: center"><B>SIGNATURE</B></P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 0 0.25in; text-align: justify">After reasonable inquiry, and to
the best of my knowledge and belief, the undersigned hereby certifies that the information set forth in this statement is true,
complete and correct.</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0; text-indent: 0.55in">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 12pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 61%; padding-right: 9pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD>
    <TD STYLE="width: 30%; border-bottom: Black 1pt solid; padding-right: 9pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">/s/ Richard Pui Hon Lau</FONT></TD>
    <TD STYLE="width: 9%; padding-right: 9pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">&nbsp;</FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 9pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 9pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Richard Pui Hon Lau</FONT></TD>
    <TD STYLE="padding-right: 9pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-right: 9pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 9pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-right: 9pt; text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD>
    <TD STYLE="text-indent: 0in">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="padding-bottom: 12pt; text-indent: 0in">&nbsp;</TD>
    <TD STYLE="padding-bottom: 12pt; text-indent: 0in"><FONT STYLE="font-size: 11pt">Date:&nbsp;&nbsp;March 27, 2020</FONT></TD>
    <TD STYLE="padding-bottom: 12pt; text-indent: 0in">&nbsp;</TD></TR>
</TABLE>
<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt">&nbsp;</P>

<P STYLE="font: 11pt Times New Roman, Times, Serif; margin: 0 0 12pt; text-indent: 0.5in">&nbsp;</P>


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