BNSO

HONG KONG, April 08, 2021 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ: BNSO and Company) today announced that it received a written notice (the "Notice") from the Listing Qualifications Department of The Nasdaq Stock Market ("Nasdaq") indicating that the Company is not in compliance with the Nasdaq Listing Rules (the "Rules") as a result of not having held an annual meeting of stockholders within 12 months of the end of the Company's fiscal year on March 31, 2020. The Notice is only a notification of deficiency, not of imminent delisting, and has no current effect on the listing or trading of the Company's securities on the Nasdaq Capital Market. The Notice states that, under the Rules, the Company has 45 calendar days to submit a plan to regain compliance with the Rules. The Company intends to submit a plan to regain compliance with the Rules within the required timeframe. If Nasdaq accepts the Company's plan, Nasdaq may grant the Company an extension of up to 180 calendar days from the Company's fiscal year end, or until September 27, 2021, to regain compliance. The Notice further states that in determining whether to accept the Company's plan, Nasdaq will consider such things as the likelihood that the annual meeting can be held within the 180-day period, the Company's past compliance history, the reasons for the delayed meeting, other corporate events that may occur during the review period, the Company's overall financial condition and its public disclosures. If Nasdaq does not accept the Company's plan, the Company will have the opportunity to appeal the decision in front of a Nasdaq Hearings Panel. The Company intends to hold its annual shareholders meeting on or before May 15, 2021. About Bonso Electronics Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of electronic scales, weighing instruments and pet electronics products. Bonso products are manufactured in the People's Republic of China for customers primarily located in North America and Europe. Company services include product design and prototyping, production tooling, procurement of components, total quality management, and just-in-time delivery. Bonso also independently designs and develops electronic products for private label markets. Bonso rents factory space and equipment to third parties and is also continuing the process to obtain the necessary approvals to redevelop the land upon which its Shenzhen factory is located. For further information, visit the Company's web site at http://www.bonso.com. This news release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. We undertake no obligation to update "forward-looking" statements. For more information please contact: Albert SoChief Financial Officer and SecretaryTel: 852 2605 5822Fax: 852 2691 1724SOURCE Bonso Electronics

HONG KONG, March 31, 2021 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ: BNSO) today announced its unaudited results for the six-month period ended September 30, 2020. Bonso reported net income for the six-month period ended September 30, 2020, of $0.20 million, or $0.04 basic and diluted income per share, as compared to a net loss of $0.59 million, or $0.13 basic loss per share, posted during the six-month period ended September 30, 2019. Net revenue for the six-month period ended September 30, 2020, increased 84.3% to $8.1 million from $4.4 million for the six-month period ended September 30, 2019. The increased net income resulted principally from the increase in revenue related to the Company’s pet electronic products for the six-month period ended September 30, 2020. Mr. Andrew So, President and CEO stated: “Our net revenue during the six-month period ended September 30, 2020 increased as a result of increased sales of pet electronic products mainly through online sales channels. We are delighted to achieve growth from our online sales during the pandemic. However, growth of demand for our products may not sustain due to fierce competition and reduced consumer purchasing power. To continue the growth of our revenue, we have launched electronic bathroom scales and upgraded pet electronic products like ultrasonic dog trainers and nail grinders to be sold online.” Further, Mr. Andrew So stated: “The Company and its development partner are working closely with the government to obtain the remaining governmental approvals for the redevelopment of the Shenzhen factory. However, there were changes in the local district planning and regulations, and we estimate that it will require approximately another twelve months to obtain the necessary approvals. In the meantime, we have signed a short term lease agreement to lease out part of the existing Shenzhen factory to a third party to gain extra rental income.” About Bonso Electronics Bonso Electronics designs, develops, manufactures, assembles and markets a comprehensive line of electronic scales, weighing instruments and pet electronics products. Bonso products are manufactured in the People's Republic of China for customers primarily located in North America and Europe. Company services include product design and prototyping, production tooling, procurement of components, total quality management, and just-in-time delivery. Bonso also independently designs and develops electronic products for private label markets. Bonso rents factory space and equipment to third parties and is also continuing the process to obtain the necessary approvals to redevelop the land upon which its Shenzhen factory is located. For further information, visit the Company's web site at http://www.bonso.com. This news release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release that relate to the redevelopment of our old Shenzhen factory involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements. For more information please contact: Albert SoChief Financial Officer and SecretaryTel: 852 2605 5822Fax: 852 2691 1724SOURCE Bonso Electronics -- Tables to Follow – Unaudited Consolidated Balance Sheets (Expressed in United States Dollars) March 31, September 30, 2020 2020 $ in thousands $ in thousands (Audited) (Unaudited)Assets Current assets Cash and cash equivalents9,111 9,634Trade receivables, net811 925Other receivables, deposits and prepayments692 326Inventories, net1,178 1,019Income tax recoverable5 5Financial instruments at fair value54 132Total current assets11,851 12,041 Investment in life settlement contracts158 160Financial instruments at amortized cost523 523Other intangible assets1,930 1,878Right-of-use assets300 266Property, plant and equipment, net9,439 9,500Total assets24,201 24,368Liabilities and stockholders’ equity Current liabilities Bank loans - secured1,937 1,202Accounts payable775 656Contract liabilities12 0Accrued charges and deposits3,174 3,098Refund liabilities69 69Payable to affiliated party80 0Lease liabilities92 98Total current liabilities6,139 5,123 Lease liabilities, non-current213 173Long-term deposit received647 674Long-term loan2,438 2,604 Total liabilities9,437 8,574Stockholders’ equity Common stock par value $0.003 per share - authorized shares - 23,333,334 - issued shares: Mar 31, 2020 - 5,828,205; Sep 30, 2020 - 5,828,20517 17outstanding shares: Mar 31, 2020 - 4,906,466; Sep 30, 2020 - 4,892,899 Additional paid-in capital22,795 22,795Treasury stock at cost: Mar 31, 2020 - 921,739; Sep 30, 2020 - 935,306-2,892 -2,922Accumulated deficit-6,094 -5,893Accumulated other comprehensive income938 1,797 14,764 15,794 Total liabilities and stockholders’ equity24,201 24,368 Unaudited Consolidated Statements of Operations and Comprehensive Loss (Expressed in United States Dollars) Six months ended September 30, 2019 Six months ended September 30, 2020 $ in thousands $ in thousands (unaudited) (unaudited) Net revenue4,409 8,124Cost of revenue-3,448 -3,054Gross profit961 5,070 Selling, general and administrative expenses-2,058 -4,592Other income, net82 40(Loss) / income from operations-1,015 518Non-operating income / (expenses), net427 -317(Loss) / income before income taxes-588 201Income tax expense0 0Net (loss) / income-588 201 Other comprehensive loss, net of tax: Foreign currency translation adjustments, net of tax-1,166 859Comprehensive (loss) / income-1,754 1,060 (Loss) / earnings per share Weighted average number of shares outstanding4,644,920 4,896,845Diluted weighted average number of shares outstanding4,644,920 5,091,440 (Loss) / earnings per common share (in U.S.Dollars)-0.13 0.04(Loss) / earnings per common share (in U.S.Dollars) - assuming dilution-0.13 0.04

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HONG KONG, Aug. 27, 2020 (GLOBE NEWSWIRE) -- Bonso Electronics International, Inc. (NASDAQ: BNSO), a designer and manufacturer of sensor-based products, reported its financial results for the fiscal year ended March 31, 2020. The Company reported a net income of $0.40 million or $0.09 basic earnings per share (or $0.08 diluted earnings per share) for the fiscal year ended March 31, 2020. The Company has filed its Annual Report on Form 20-F, which includes its audited financial statements for its fiscal year ended March 31, 2020, with the United States Securities and Exchange Commission (“SEC”).  The Company’s Annual Report is available on the SEC's website at http://www.sec.gov/.Andrew So, the Chief Executive Officer of Bonso, stated, "Net revenue of the Company increased by 31% from $10.0 million for the fiscal year ended March 31, 2019, to $13.1 million for the fiscal year ended March 31, 2020.  Sales from pet electronic products were the main reason for our growth, and we will continue to invest and develop new models of pet electronic products and electronic scales.  We are aware of the impact from the COVID-19 pandemic and the trade tension between the United States and China. As a result, we are focusing our efforts on cost reduction and new product development in order to remain competitive.”Mr. So also said, “We are moving forward with the redevelopment of our Shenzhen factory site. Our development partner Fangda anticipates that they will complete the approval process for redevelopment in 2020. Following approval, the redevelopment of the Shenzhen factory site will begin.” Mr. So further commented, “Our Company’s balance sheet remains strong. We had total cash and cash equivalents at March 31, 2020 of $9.1 million with positive working capital of $5.7 million and a current ratio of 1.9:1.”About Bonso ElectronicsBonso Electronics designs, develops, manufactures, assembles, and markets a comprehensive line of electronic scales, weighing instruments and pet electronic products. Bonso products are manufactured in the People's Republic of China for customers primarily located in North America and Europe. Company services include product design and prototyping, production tooling, procurement of components, total quality management, and just-in-time delivery. Bonso also independently designs and develops electronic products for private label markets. Bonso rents factory space and equipment to third parties and is also continuing the process to obtain the necessary approvals to redevelop the land upon which its Shenzhen factory is located. For further information, visit the company's web site at http://www.bonso.com.This news release includes forward looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities and Exchange Act of 1934, as amended. Forward looking statements may be identified by such words or phrases as "should," "intends," "is subject to," "expects," "will," "continue," "anticipate," "estimated," "projected," "may," "I or we believe," "future prospects," "our strategy," or similar expressions. Forward-looking statements made in this press release, which relate to the development of new products, cost reduction efforts and redevelopment of our Shenzhen factory site involve known and unknown risks and uncertainties that may cause the actual results to differ materially from those expected and stated in this announcement. We undertake no obligation to update "forward-looking" statements.For more information please contact:                                                                                                  Albert So Chief Financial Officer and Secretary Tel: 852 2605 5822 Fax: 852 2691 1724 SOURCE Bonso Electronics

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