| 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, | | | | 2024 | | | 2023 | | | 2022 | | | | US$’000 | | | US$’000 | | | US$’000 | | Revenue | | | | | | | | | | Trading and manufacturing | | | 9,549 | | | | 12,143 | | | | 9,332 | | Engineering | | | 5,834 | | | | 5,797 | | | | 5,617 | | | | | 15,383 | | | | 17,940 | | | | 14,949 | | Operating income / (loss) | | | | | | | | | | | | | Trading and manufacturing | | | 278 | | | | 377 | | | | (246 | ) | Engineering | | | 273 | | | | (438 | ) | | | 590 | | Unallocated corporate expenses | | | (165 | ) | | | (188 | ) | | | (230 | ) | | | | 386 | | | | (249 | ) | | | 114 | |
| | Year ended December 31, | | | | 2024 | | | 2023 | | | 2022 | | | | US$’000 | | | US$’000 | | | US$’000 | | Depreciation: | | | | | | | | | | Trading and manufacturing | | | 11 | | | | 11 | | | | 28 | | Engineering | | | 3 | | | | 4 | | | | 5 | | | | | 14 | | | | 15 | | | | 33 | | Capital expenditures, gross | | | | | | | | | | | | | Trading and manufacturing | | | 3 | | | | 3 | | | | 2 | | Engineering | | | 2 | | | | 2 | | | | 5 | | | | | 5 | | | | 5 | | | | 7 | |
| | December 31, | | | | 2024 | | | 2023 | | | | US$’000 | | | US$’000 | | Assets | | | | | | | Trading and manufacturing | | | 6,668 | | | | 8,229 | | Engineering | | | 14,040 | | | | 13,891 | | | | | 20,708 | | | | 22,120 | | Liabilities | | | | | | | | | Trading and manufacturing | | | 2,155 | | | | 3,605 | | Engineering | | | 1,859 | | | | 2,035 | | | | | 4,014 | | | | 5,640 | |
(ii) Geographical analysis of revenue by customer location is as follows: | | Year ended December 31, | | | | 2024 | | | 2023 | | | 2022 | | | | US$’000 | | | US$’000 | | | US$’000 | | Revenue - | | | | | | | | | | The PRC | | | 6,398 | | | | 7,125 | | | | 5,878 | | Hong Kong | | | 6,745 | | | | 9,879 | | | | 7,174 | | Others | | | 2,240 | | | | 936 | | | | 1,897 | | | | | 15,383 | | | | 17,940 | | | | 14,949 | |
(iii) Long-lived assets (1) Geographical analysis of long-lived assets is as follows: | | December 31, | | | | 2024 | | | 2023 | | | | US$’000 | | | US$’000 | | | | | | | | | Hong Kong | | | 5 | | | | 6 | | The PRC | | | 154 | | | | 162 | | | | | 159 | | | | 168 | |
(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, | | | | 2024 | | | 2023 | | | 2022 | | | | | | | | | | | | Supplier A | | | 36 | % | | | 23 | % | | | 21 | % | Supplier B | | | 26 | % | | | 42 | % | | | 33 | % | Supplier C | | | 8 | % | | | 7 | % | | | 6 | % | Supplier D | | | 5 | % | | | 5 | % | | | 5 | % | Supplier E | | | - | | | | - | | | | 5 | % | Supplier F | | | - | | | | - | | | | 5 | % |
(v) Major customers Details of individual customers accounting for more than 5% of the Group’s revenue are as follows: | | Year ended December 31, | | | | 2024 | | | 2023 | | | 2022 | | | | | | | | | | | | Customer A | | | 13 | % | | | 10 | % | | | 9 | % | Customer B | | | 9 | % | | | 14 | % | | | 18 | % | Customer C | | | 9 | % | | | - | | | | - | | Customer D | | | 6 | % | | | - | | | | - | | Customer E | | | 5 | % | | | - | | | | - | | Customer F | | | 5 | % | | | - | | | | - | | Customer G | | | - | | | | 7 | % | | | - | | Customer H | | | - | | | | 5 | % | | | - | | Customer I | | | - | | | | 5 | % | | | 6 | % |
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