Concentrations and credit risk

12 Months Ended

Mar. 31, 2019

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, 2018 and 2019, the Company had credit risk exposure of uninsured cash and deposits with maturities of less than one year in banks of approximately $8,751,000 and $7,527,000, respectively.

A substantial portion, 45%, 31% and 37% of revenue, was generated from one customer for the years ended March 31, 2017, 2018 and 2019, respectively.

The net revenue representing at least 10% of total net revenue are as follows:

	Year Ended March 31,
	2017				2018				2019
	$ in thousands		%		$ in thousands		%		$ in thousands		%
Customer A		2,729		14		3,579		31		3,715		37
Customer C		2,435		13		1,599		14		1,225		12
Customer B		1,563		8		1,662		14		1,027		10
Customer E		1,061		6		1,050		9		996		10
Customer D *		8,472		45		1,115		10		21		–
		16,260		86		9,005		78		6,984		69

* That customer has stopped purchasing from us as of June 2017.

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

	March 31,
	2018				2019
	$ in thousands		%		$ in thousands		%
Customer B		—		—		191		32
Customer C		200		25		136		23
Customer A		234		30		127		21
Customer E		113		14		—		—
				69				76

At March 31, 2018 and 2019, these customers accounted for 69% and 76%, respectively, of net trade receivables. The trade receivables have repayment terms of not more than twelve months.