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Segment Information | 12 Months Ended
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Mar. 31, 2025
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:
|  | Metal stamping and Mechanical OEM |  |  | Electric OEM |  |  | Corporate |  |  | Consolidated |
Fiscal year ended March 31, 2025 |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Sales of products |  | $ | 4,500 |  |  |  | 2,912 |  |  |  | - |  |  |  | 7,412 |
Sub-contracting income |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total revenue |  |  | 4,500 |  |  |  | 2,912 |  |  |  | - |  |  |  | 7,412 |
Cost |  |  | 3,077 |  |  |  | 1,865 |  |  |  | - |  |  |  | 4,942 |
Gross Profit |  |  | 1,423 |  |  |  | 1,047 |  |  |  | - |  |  |  | 2,470 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  |  | 1,749 |  |  |  | 1,149 |  |  |  | 107 |  |  |  | 3,005 |
Impairment of property, plant and equipment |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Impairment of operating lease right of use assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total operating expenses |  |  | 1,749 |  |  |  | 1,149 |  |  |  | 107 |  |  |  | 3,005 |
Segment loss |  | $ | (326 | ) |  |  | (102 | ) |  |  | (107 | ) |  |  | (535 | )
Reconciliation of segment profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange gain, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 124 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 203 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 22 |
Gain on disposal of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 333 |
Income before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 147 |
Other segment information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation expense |  | $ | 6 |  |  |  | 3 |  |  |  | - |  |  |  | 9 |
Capital expenditure |  |  | 62 |  |  |  | 39 |  |  |  | - |  |  |  | 101 |
|  | Metal stamping and Mechanical OEM |  |  | Electric OEM |  |  | Corporate |  |  | Consolidated |
Fiscal year ended March 31, 2024 |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Sales of products |  | $ | 3,474 |  |  |  | 2,029 |  |  |  | - |  |  |  | 5,503 |
Sub-contracting income |  |  | - |  |  |  | 818 |  |  |  | - |  |  |  | 818 |
Total revenue |  |  | 3,474 |  |  |  | 2,847 |  |  |  | - |  |  |  | 6,321 |
Cost |  |  | 2,719 |  |  |  | 1,894 |  |  |  | - |  |  |  | 4,613 |
Gross Profit |  |  | 755 |  |  |  | 953 |  |  |  | - |  |  |  | 1,708 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  |  | 1,158 |  |  |  | 1,210 |  |  |  | 109 |  |  |  | 2,477 |
Impairment of property, plant and equipment |  |  | 190 |  |  |  | 145 |  |  |  | - |  |  |  | 335 |
Impairment of operating lease right of use assets |  |  | 302 |  |  |  | 225 |  |  |  | - |  |  |  | 527 |
Total operating expenses |  |  | 1,650 |  |  |  | 1,580 |  |  |  | 109 |  |  |  | 3,339 |
Segment loss |  | $ | (895 | ) |  |  | (627 | ) |  |  | (109 | ) |  |  | (1,631 | )
Reconciliation of segment profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange gain, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 198 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 248 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 30 |
Gain on disposal of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 16 |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (1,139 | )
Other segment information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation expense |  | $ | 89 |  |  |  | 70 |  |  |  | - |  |  |  | 159 |
Capital expenditure |  |  | 65 |  |  |  | 53 |  |  |  | - |  |  |  | 118 |
|  | Metal stamping and Mechanical OEM |  |  | Electric OEM |  |  | Corporate |  |  | Consolidated |
Fiscal year ended March 31, 2023 |  |  |  |  |  |  |  |  |  |  |  |
Revenues: |  |  |  |  |  |  |  |  |  |  |  |
Sales of products |  | $ | 6,654 |  |  |  | 3,588 |  |  |  | - |  |  |  | 10,242 |
Sub-contracting income |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total revenue |  |  | 6,654 |  |  |  | 3,588 |  |  |  | - |  |  |  | 10,242 |
Cost |  |  | 4,956 |  |  |  | 2,145 |  |  |  | - |  |  |  | 7,101 |
Gross Profit |  |  | 1,698 |  |  |  | 1,443 |  |  |  | - |  |  |  | 3,141 |
Operating expenses: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Selling, general and administrative expenses |  |  | 1,910 |  |  |  | 1,538 |  |  |  | 170 |  |  |  | 3,618 |
Impairment of property, plant and equipment |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Impairment of operating lease right of use assets |  |  | - |  |  |  | - |  |  |  | - |  |  |  | - |
Total operating expenses |  |  | 1.910 |  |  |  | 1,538 |  |  |  | 170 |  |  |  | 3,618 |
Segment loss |  | $ | (212 | ) |  |  | (95 | ) |  |  | (170 | ) |  |  | (477 | )
Reconciliation of segment profit or loss |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Exchange gain, net |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 32 |
Interest income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 87 |
Other income |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 38 |
Gain on disposal of property, plant and equipment |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 7 |
Loss before income taxes |  |  |  |  |  |  |  |  |  |  |  |  |  |  | (313 | )
Other segment information: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Depreciation expense |  | $ | 137 |  |  |  | 72 |  |  |  | - |  |  |  | 209 |
Capital expenditure |  |  | 60 |  |  |  | 32 |  |  |  | - |  |  |  | 92 |
|  | As of March 31, |
|  | 2024 |  |  | 2025 |
|  | $ |  |  | $ |
Total assets: |  |  |  |  |  |
Metal stamping and Mechanical OEM |  |  | 5,486 |  |  |  | 5,041 |
Electric OEM |  |  | 5,770 |  |  |  | 4,302 |
Corporate |  |  | 62 |  |  |  | 211 |
Total assets |  |  | 11,318 |  |  |  | 9,554 |
|  | As of March 31, |
|  | 2024 |  |  | 2025 |
|  | $ |  |  | $ |
Property, plant and equipment, net: |  |  |  |  |  |
Metal stamping and Mechanical OEM |  |  | - |  |  |  | 57 |
Electric OEM |  |  | - |  |  |  | 37 |
Total property, plant and equipment, net |  |  | - |  |  |  | 94 |
For the year ended March 31, 2025, the Group did not recognize any impairment loss in Metal stamping and Mechanical OEM (2024: $190), and Electric OEM (2024: $145), respectively. 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, |
|  | 2023 |  |  | 2024 |  |  | 2025 |
|  | $ |  |  | $ |  |  | $ |
Revenue from contracts with customers: |  |  |  |  |  |  |  |  |
Hong Kong and China |  |  | 1,510 |  |  |  | 906 |  |  |  | 794 |
Europe |  |  | 8,268 |  |  |  | 4,214 |  |  |  | 6,324 |
Other Asian countries |  |  | 27 |  |  |  | - |  |  |  | 3 |
North America |  |  | 437 |  |  |  | 1,201 |  |  |  | 291 |
Total revenue from contracts with customers |  |  | 10,242 |  |  |  | 6,321 |  |  |  | 7,412 |
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, |
|  | 2024 |  |  | 2025 |
|  | $ |  |  | $ |
Property, plant and equipment, net: |  |  |  |  |  |
Hong Kong and China |  |  | - |  |  |  | 83 |
Myanmar |  |  | - |  |  |  | 11 |
Total property, plant and equipment, net |  |  | - |  |  |  | 94 |
For the year ended March 31, 2025, the Group did not recognize any impairment loss of property, plant and equipment in Hong Kong and China (2024: $106), and Myanmar (2024: $229), respectively.

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