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Segment Information
 12 Months Ended
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.