Concentrations and credit risk

12 Months Ended

Mar. 31, 2021

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.

On March 31, 2020 and 2021, the Company had credit risk exposure of uninsured cash and deposits with maturities of less than one year in banks of approximately $9,111,000 and $10,060,000, respectively.

A substantial portion, 37%, 27% and 23% of revenue, was generated from one customer for the years ended March 31, 2019, 2020 and 2021, respectively.

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

	Year Ended March 31,
	2019				2020				2021
	$ in thousands		%		$ in thousands		%		$ in thousands		%
Customer A		3,715		37		3,573		27		3,633		23
Customer C		1,225		12		1,239		9		1,386		9
Customer B		1,027		10		313		2		619		4
Customer E #		996		10		—		—		—		—
		6,963		69		5,125		38		5,638		36

# Rental income from this customer ended as of February 2019.

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,
	2020				2021
	$ in thousands		%		$ in thousands		%
Customer C		241		30		343		27
Customer B		133		16		160		12
Customer A		99		12		298		23
Customer F		95		12		197		15
				70				77

At March 31, 2020 and 2021, these customers accounted for 70% and 77%, respectively, of net trade receivables. The trade receivables have repayment terms of not more than twelve months.