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Segment Information
 12 Months Ended
Mar. 31, 2024
Segment Information [Abstract]  
SEGMENT INFORMATION
22.SEGMENT INFORMATION

 

The Group’s chief operating decision maker, who has been identified as the Company’s Chief Executive Officer, evaluates segment performance and allocates resources based on several factors, of which the primary financial measure is operating income.

 

The Group operates in two segments, Metal stamping and mechanical OEM segment and Electric OEM segment. The Metal stamping and mechanical OEM segment focus on manufacturing and sale of metal parts and components. The Electric OEM segment focuses on manufacturing and sale of plastic and electronic parts and components.

 

Corporate represented expenses that are not allocated to reportable segments and other corporate items.

 

A summary of the revenue from contracts with customers, profitability information and asset information by segment and geographical areas is shown below:

 

   Year ended March 31, 
   2022   2023   2024 
   $   $   $ 
Revenue from contracts with customers:            
Metal stamping and Mechanical OEM   7,213    6,654    3,474 
Electric OEM   5,152    3,588    2,847 
                
Total revenue from contracts with customers   12,365    10,242    6,321 
                
Operating income (loss):               
Metal stamping and Mechanical OEM   339    (212)   (895)
Electric OEM   307    (95)   (627)
Corporate   (79)   (170)   (109)
                
Total operating income (loss)   567    (477)   (1,631)
                
Depreciation expense:               
Metal stamping and Mechanical OEM   95    137    89 
Electric OEM   67    72    70 
                
Total depreciation   162    209    159 
                
Capital expenditure:               
Metal stamping and Mechanical OEM   78    60    65 
Electric OEM   56    32    53 
                
Total capital expenditure   134    92    118 

 

   As of March 31, 
   2023   2024 
  $   $ 
Total assets:        
Metal stamping and Mechanical OEM   8,099    5,486 
Electric OEM   5,696    5,770 
Corporate   88    62 
           
Total assets   13,883    11,318 

 

   As of March 31, 
   2023   2024 
   $   $ 
Property, plant and equipment, net:        
Metal stamping and Mechanical OEM   266    
-
 
Electric OEM   135    
-
 
           
Total property, plant and equipment, net   401    
-
 

 

For the year ended March 31, 2024, the Group has recognized $190 and $145 impairment loss in Metal stamping and Mechanical OEM, and Electric OEM, respectively (2023: nil).

 

All of the Group’s sales are coordinated through its head office in Hong Kong. The Group considers revenues to be generated by geographic area based on the physical location of customers. the breakdown by geographic area is as follows:

 

   Year ended March 31, 
   2022   2023   2024 
   $   $   $ 
Revenue from contracts with customers:            
Hong Kong and China   2,105    1,510    906 
Europe   8,761    8,268    4,214 
Other Asian countries   76    27    
-
 
North America   1,423    437    1,201 
                
Total revenue from contracts with customers   12,365    10,242    6,321 

 

All of the Group’s property, plant and equipment are located in Hong Kong, China and Myanmar. The breakdown by geographic area is as follows:

 

   As of March 31, 
   2023   2024 
   $   $ 
Property, plant and equipment, net:        
Hong Kong and China   110    
-
 
Myanmar   291    
-
 
           
Total property, plant and equipment, net   401    
-
 

 

For the year ended March 31, 2024, the Group has recognized $106 and $229 impairment loss of property, plant and equipment in Hong Kong and China, and Myanmar respectively (2023: nil)