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Segment information | 12 Months Ended
--- | ---
Dec. 31, 2023
Segment information |
Segment information | Note 3: Segment information (i) The Group reports under two segments: Trading and manufacturing, and Engineering. Operating income represents total revenues less operating expenses, excluding other expense, interest and income taxes. The identifiable assets by segment are those used in each segment’s operations. Intersegment transactions are not significant and have been eliminated to arrive at consolidated totals.
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Revenue |  |  |  |  |  |  |  |  |
Trading and manufacturing |  |  | 12,143 |  |  |  | 9,332 |  |  |  | 9,619 |
Engineering |  |  | 5,797 |  |  |  | 5,617 |  |  |  | 11,769 |
|  |  | 17,940 |  |  |  | 14,949 |  |  |  | 21,388 |
Operating (loss) / income |  |  |  |  |  |  |  |  |  |  |  |
Trading and manufacturing |  |  | 377 |  |  |  | (246 | ) |  |  | 130 |
Engineering |  |  | (438 | ) |  |  | 590 |  |  |  | 846 |
Unallocated corporate expenses |  |  | (188 | ) |  |  | (230 | ) |  |  | (205 | )
|  |  | (249 | ) |  |  | 114 |  |  |  | 771 |
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Depreciation: |  |  |  |  |  |  |  |  |
Trading and manufacturing |  |  | 11 |  |  |  | 28 |  |  |  | 32 |
Engineering |  |  | 4 |  |  |  | 5 |  |  |  | 6 |
|  |  | 15 |  |  |  | 33 |  |  |  | 38 |
Capital expenditures, gross |  |  |  |  |  |  |  |  |  |  |  |
Trading and manufacturing |  |  | 3 |  |  |  | 2 |  |  |  | 1 |
Engineering |  |  | 2 |  |  |  | 5 |  |  |  | 3 |
|  |  | 5 |  |  |  | 7 |  |  |  | 4 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$’000 |  |  | US$’000 |
Assets |  |  |  |  |  |
Trading and manufacturing |  |  | 8,229 |  |  |  | 13,637 |
Engineering |  |  | 13,891 |  |  |  | 5,726 |
|  |  | 22,120 |  |  |  | 19,363 |
Liabilities |  |  |  |  |  |  |  |
Trading and manufacturing |  |  | 3,605 |  |  |  | 1,300 |
Engineering |  |  | 2,035 |  |  |  | 3,257 |
|  |  | 5,640 |  |  |  | 4,557 |
(ii) Geographical analysis of revenue by customer location is as follows:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
|  | US$’000 |  |  | US$’000 |  |  | US$’000 |
Revenue - |  |  |  |  |  |  |  |  |
The PRC |  |  | 7,125 |  |  |  | 5,878 |  |  |  | 13,217 |
Hong Kong |  |  | 9,879 |  |  |  | 7,174 |  |  |  | 7,937 |
Others |  |  | 936 |  |  |  | 1,897 |  |  |  | 234 |
|  |  | 17,940 |  |  |  | 14,949 |  |  |  | 21,388 |
(iii) Long-lived assets (1) Geographical analysis of long-lived assets is as follows:
|  | December 31, |
|  | 2023 |  |  | 2022 |
|  | US$’000 |  |  | US$’000 |
Hong Kong |  |  | 6 |  |  |  | 8 |
The PRC |  |  | 162 |  |  |  | 171 |
|  |  | 168 |  |  |  | 179 |
(1) Long-lived assets represent property, plant and equipment, net. (iv) Major suppliers Details of individual suppliers accounting for more than 5% of the Group’s purchases are as follows:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Supplier A |  |  | 42 | % |  |  | 33 | % |  |  | 42 | %
Supplier B |  |  | 23 | % |  |  | 21 | % |  |  | 13 | %
Supplier C |  |  | 7 | % |  |  | 6 | % |  |  | 6 | %
Supplier D |  |  | 5 | % |  |  | 5 | % |  |  | 6 | %
Supplier E |  |  | - |  |  |  | - |  |  |  | 5 | %
Supplier F |  |  | - |  |  |  | 5 | % |  |  | - |
Supplier G |  |  | - |  |  |  | 5 | % |  |  | - |
(v) Major customers Details of individual customers accounting for more than 5% of the Group’s revenue are as follows:
|  | Year ended December 31, |
|  | 2023 |  |  | 2022 |  |  | 2021 |
Customer A |  |  | 14 | % |  |  | 18 | % |  |  | 15 | %
Customer B |  |  | 10 | % |  |  | 9 | % |  |  | - |
Customer C |  |  | 7 | % |  |  | - |  |  |  | - |
Customer D |  |  | 5 | % |  |  | - |  |  |  | - |
Customer E |  |  | 5 | % |  |  | 6 | % |  |  | - |
Customer F |  |  | - |  |  |  | - |  |  |  | 17 | %
Customer G |  |  | - |  |  |  | - |  |  |  | 9 | %
Customer H |  |  | - |  |  |  | - |  |  |  | 7 | %

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- Definition The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 22 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-22 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-15 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 31 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-31 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 42 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-42 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (f) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 40 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-40 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org//280/tableOfContent Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 26 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-26 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 34 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-34 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 41 -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-41 Reference 12: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 13: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 21 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-21 Reference 14: http://www.xbrl.org/2003/role/disclosureRef -Topic 280 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 32 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147482810/280-10-50-32 + Details
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