Company: DSWL
Filing Date: 2025-07-29
Form Type: 20-F
Source: 0001174947-25-001096
Chunk: 156

Company: DESWELL INDUSTRIES INC
Filing Date: 2025-07-29
Form: 20-F
Item: Item 18
Chunk 156
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2025  
 ───────────────────────────────────────────────────────────────
  Customer B                         21.4      14.5      20.0  
  Customer E                         19.6      19.5      13.8  
  Customer G                            *      11.4         *  

____________

*Less than 10%

Sales to the above customers relate to electronic products.

Debtors accounting for 10% or more of total accounts receivable at March 31, 2023 and 2024, respectively, are as follows:

                  Percentage of accounts             
                  receivable at March 31,            
                  2024                         2025  
 ─────────────────────────────────────────────────────
  Customer E      16.1                         14.2  
  Customer G      19.3                            *  
  Customer H      *                            11.9  
  Customer B      *                            13.7  

____________

*Less than 10%

There were $ nil, $17and $7accounts receivable written off during the years ended March 31, 2023, 2024 and 2025, respectively. There were net provision for (reversal of) credit losses of $(229), $76and $(67) during the years ended March 31, 2023, 2024 and 2025, respectively. At March 31, 2024 and 2025, allowances for credit losses were $98and $24, respectively.

Concentration of credit risk - Assets that potentially subject the Company to significant concentrations of credit risk primarily consist of cash and cash equivalents, time deposits, marketable securities, held-to-maturityinvestments, accounts receivable, and time deposits with maturities more than one year. The maximum exposure of such assets to

F-22

Table of Contents

DESWELL INDUSTRIES, INC.

15. Operating Risk(cont.)

credit risk is their carrying amounts as of the balance sheet dates. As of March 31, 2025 and 2024, majority of the Company’s cash and cash equivalents, time deposits, marketable securities, held-to-maturityinvestments, and time deposits with maturities more than one year were held at major financial institutions located in Dongguan, Macau and Hong Kong (collectively refer as the “ China Cities”) which the management believes are of high credit quality. Failure of reputable financial institutions is not common in the China Cities