Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 134

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 18
Chunk 134
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 correspondence, historical collection trends, age of trade receivables, and realization analyses to assess the Company’s estimated allowance for credit losses;

•Evaluating the reasonableness of the Company’s economic conditions analysis by pool including reasonableness of the forward-lookingrisk factors applied by the Company against industry data and historical performance; and

•Performing a retrospective review of accounts receivable by comparing subsequent actual credit losses with historical estimates to evaluate management’s ability to reasonably estimate the allowance.

/s/BDO China Shu Lun Pan Certified Public Accountants LLP

We have served as the Company’s auditor since 2012.

Shenzhen, People’s Republic of ChinaJuly 29, 2025

F-2

Table of Contents

DESWELL INDUSTRIES, INC.

                                                                                                                                                                                                            March 31,                                      
                                                                                                                                                                                                            2024                        2025               
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  ASSETS                                                                                                                                                                                                                                                   
  Current assets:                                                                                                                                                                                                                                          
  Cash and cash equivalents                                                                                                                                                                                 $               15,750      $          28,133  
  Time deposits with original maturities over three months                                                                                                                                                                  13,979                 19,431  
  Time deposit with original maturities over twelve months – current                                                                                                                                                             —                  2,761  
  Marketable securities (note 3)                                                                                                                                                                                            23,026                 25,175  
  Held-to-maturity investment                                                                                                                                                                                                5,157                      —  
  Accounts receivable, less allowances for credit losses of $ 98 and $ 24 at March 31, 2024 and 2025, respectively (note 2)                                                                                                 11,986                  9,914  
  Inventories, net (note 4)                                                                                                                                                                                                 12,129                  9,462  
  Prepaid expenses and other current assets (note 5)                                                                                                                                                                         1,228                  1,612  
  Total current assets                                                                                                                                                                                                      83,255                 96,488  
  Property, plant and equipment, net (note 6)                                                                                                                                                                               24,603                 23,385  
  Deferred tax assets (note 8)                                                                                                                                                                                                 419                    335  
  Time deposits with original maturities over twelve months                                                                                                                                                                  2,799                      —  
  Total assets                                                                                                                                                                                              $              111,076