Segment information

12 Months Ended

Dec. 31, 2021

Segment information

Segment information

23 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,
	2021			2020			2019
	US$’000			US$’000			US$’000
Revenue
Trading and manufacturing		9,619			9,476			11,877
Engineering		11,769			3,881			5,522
		21,388			13,357			17,399
Operating income / (loss)
Trading and manufacturing		140			(488	)		(102	)
Engineering		846			(1,027	)		(158	)
Unallocated corporate expenses		(205	)		(186	)		(180	)
		781			(1,701	)		(440	)

	Year ended December 31,
	2021		2020		2019
	US$’000		US$’000		US$’000
Depreciation:
Trading and manufacturing		32		39		54
Engineering		6		10		15
		38		49		69
Capital expenditures, gross
Trading and manufacturing		1		2		17
Engineering		3		9		4
		4		11		21

(i) The Group reports under two segments: Trading and manufacturing, and Engineering. (Cont’d)

	December 31,
	2021		2020
	US$’000		US$’000
Assets
Trading and manufacturing		7,969		7,877
Engineering		13,281		12,218
		21,250		20,095
Liabilities
Trading and manufacturing		3,428		2,645
Engineering		3,021		2,987
		6,449		5,632

(ii) Geographical analysis of revenue by customer location is as follows:

	Year ended December 31,
	2021		2020		2019
	US$’000		US$’000		US$’000
Revenue -
The PRC		13,217		5,072		6,886
Hong Kong		7,937		8,024		10,169
Others		234		261		344
		21,388		13,357		17,399

(iii) Long-lived assets ⁽¹⁾

Geographical analysis of long-lived assets is as follows:

	December 31,
	2021		2020
	US$’000		US$’000
Hong Kong		25		47
The PRC		190		212
		215		259

⁽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,
	2021			2020			2019
Supplier A		42	%		30	%		53	%
Supplier B		13	%		10	%		7	%
Supplier C		6	%		9	%		6	%
Supplier D		6	%		6	%		6	%
Supplier E		5	%		5	%		-
Supplier F		-			12	%		-

(v) Major customers

Details of individual customers accounting for more than 5% of the Group’s revenue are as follows:

	Year ended December 31,
	2021			2020			2019
Customer A		15	%		9	%		19	%
Customer B		-			8	%		-
Customer C		-			6	%		10	%
Customer D		-			-			5	%