Segment information

12 Months Ended

Dec. 31, 2022

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,
	2022			2021			2020
	US$’000			US$’000			US$’000
Revenue
Trading and manufacturing		9,332			9,619			9,476
Engineering		5,617			11,769			3,881
		14,949			21,388			13,357
Operating income / (loss)
Trading and manufacturing		(246	)		130			941
Engineering		590			846			(1,027	)
Unallocated corporate expenses		(230	)		(205	)		(186	)
		114			771			(272	)

	Year ended December 31,
	2022		2021		2020
	US$’000		US$’000		US$’000
Depreciation:
Trading and manufacturing		28		32		39
Engineering		5		6		10
		33		38		49
Capital expenditures, gross
Trading and manufacturing		2		1		2
Engineering		5		3		9
		7		4		11

	December 31,
	2022		2021
	US$’000		US$’000
Assets
Trading and manufacturing		13,637		7,969
Engineering		5,726		13,281
		19,363		21,250
Liabilities
Trading and manufacturing		1,300		3,428
Engineering		3,257		3,021
		4,557		6,449

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

	Year ended December 31,
	2022		2021		2020
	US$’000		US$’000		US$’000
Revenue -
The PRC		5,878		13,217		5,072
Hong Kong		7,174		7,937		8,024
Others		1,897		234		261
		14,949		21,388		13,357

(iii) Long-lived assets ⁽¹⁾

Geographical analysis of long-lived assets is as follows:

	December 31,
	2022		2021
	US$’000		US$’000
Hong Kong		8		25
The PRC		171		190
		179		215

⁽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,
	2022			2021			2020
Supplier A		33	%		42	%		30	%
Supplier B		21	%		13	%		10	%
Supplier C		6	%		6	%		9	%
Supplier D		5	%		6	%		6	%
Supplier E		-			5	%		5	%
Supplier F		5	%		-			-
Supplier G		5	%		-			-
Supplier H		-			-			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,
	2022			2021			2020
Customer A		18	%		15	%		9	%
Customer B		9	%		-			8	%
Customer C		6	%		-			6	%