Concentrations and credit risk

12 Months Ended

Mar. 31, 2015

Accounting Policies [Abstract]

Concentrations and credit risk

16 Concentrations and credit risk

The Company operates principally in the PRC (including Hong Kong) and grants credit to its customers in this geographic region. Although the PRC is economically stable, it is always possible that unanticipated events in foreign countries could disrupt the Company’s operations.

Financial instruments that potentially subject the Company to a concentration of credit risk consist of cash and trade receivables. The Company does not require collateral to support financial instruments that are subject to credit risk.  

At March 31, 2014 and 2015, the Company had credit risk exposure of uninsured cash and deposits and less than one year in banks of approximately $1,165,000 and $3,027,000, respectively.

A substantial portion, 52%, 45% and 37% of revenue, was generated from one customer for the years ended March 31, 2013, 2014 and 2015, respectively.

The net sales to customers representing at least 10% of net total sales are as follows:

	Year Ended March 31,
	2013				2014				2015
	$ in thousands		%		$ in thousands		%		$ in thousands		%
Sunbeam Products, Inc.		15,818		52		14,080		45		6,879		24
Fitbit, Inc.		5,493		18		10,396		33		10,593		37
Kern + Sohn GMBH		3,814		13		2,762		9		5,424		19
		25,125		83		27,238		87		22,896		80

The following customers had balances greater than 10% of the total trade receivables at the respective balance sheet dates set forth below:

	March 31,
	2014				2015
	$ in thousands		%		$ in thousands		%
Sunbeam Products, Inc.		1,523		61		101		8
Fitbit, Inc.		355		14		324		25
Kern + Sohn GMBH		169		7		224		17
Pitney Bowes Inc.		219		9		355		27
				91				77

At March 31, 2014 and 2015, these customers accounted for 91% and 77%, respectively, of net trade receivables. The trade receivables have repayment terms of not more than twelve months. Trade receivables for two customers accounted for 33% of total trade receivables as of March 31, 2015 (2014: 75%), and they were covered by credit insurance under a factoring agreement with a bank.