Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 50

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 4
Chunk 50
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ITEM 4. INFORMATION ON THE COMPANY

History and Development of the Company

Deswell Industries, Inc. was founded in 1987 in Hong Kong and moved its manufacturing operations to China in 1990 to take advantage of lower overhead cost, competitive labor rate and tax concessions available in Shenzhen, China as compared with Hong Kong.

We were incorporated in December 1993 as a limited liability International Business Company under the British Virgin Islands International Business Companies Act, 1984 (the “ IBC Act”). Effective on January 1, 2007, the BVI repealed the IBC Act, and simultaneously with such repeal, we were automatically re-registeredunder the BVI’s corporate law replacing the IBC Act, the BVI Business Companies Act, 2004 (the “ BVI BC Act”).

The Company’s registered agent in the BVI is Harneys Corporate Services Limited, P. O. Box71, Craigmuir Chambers, Road Town, Tortola, British Virgin Islands. The Company’s principal administrative office is located in 10B Edificio Associacao Industrial De Macau, 32 Rua do Comandante Mata e Oliveira, Macao, and its telephone number is (853) 2832-2096and its facsimile number is (853) 2832-3265. Our principal manufacturing facilities and operations are currently based in Dongguan, Guangdong, China.

Organizational Structure

Deswell is not an operating company but rather a holding company conducting its operations through Deswell’s subsidiaries, primarily in Macao and mainland China. For a detailed description of our organizational structure, see “ ITEM 3. Key Information - Our Holding Company Structure.”

Table of Contents

Capital Expenditures

Principal capital expenditures and divestitures made by Deswell during the three year periods ended March 31, 2023, 2024 and 2025 included the following (dollar amounts in thousands):

                                                                                         Year ended March 31,                      
                                                                                                         2023      2024      2025  
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
  Purchase of property, plant and equipment                                                              $792      $381      $332  
  Proceeds from the sale of property, plant and equipment, net of transaction costs                       $67      $232       $69  

Our major capital expenditures in fiscal 2025 included:

•$24,000 for leasehold improvements;

•$225,000 for