SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
Report of Foreign Issuer
Pursuant to Rule 13a-16 or 15d-16 of
the Securities Exchange Act of 1934
For August 17, 2004
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BONSO ELECTRONICS
INTERNATIONAL INC.
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(Translation of Registrant's name into English)
Unit 1106-1110, 11F, Star House 3 Salisbury Road, Tsimshatsui Kowloon,
Hong Kong
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(Address of principal executive offices)
[Indicate by check mark whether the Registrant files or will file annual reports
under cover of Form 20-F or Form 40-F.]
Form 20-F X Form 40-F
----- -----
[Indicate by check mark whether the Registrant by furnishing the information
contained in this Form is also thereby furnishing the information to the
Commission pursuant to Rule 12g3-2(b) under the Securities Exchange Act of
1934.]
Yes No X
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Bonso Electronics Announces Shareholder Meeting
HONG KONG, Aug. 16 /Xinhua-PRNewswire-FirstCall/ -- Bonso Electronics
International, Inc. (Nasdaq: BNSO - NEWS) today announced the Annual Meeting of
Shareholders will be held on 7 September 2004 at 8:30 AM (Eastern Time) at the
Hilton Hotel, 145 Richmond Street, Toronto, Ontario, Canada. A proxy statement
relating to the meeting will be forthcoming. All Shareholders of record as of
August 3, 2004 are invited to attend.
The audited Balance sheet and Income statement for the fiscal year ended March
31, 2004 are attached. For further information, go to EDGAR on the SEC's website
and view our annual report on Form 20-F filed with the SEC.
About Bonso Electronics
Headquartered in Hong Kong, Bonso Electronics designs, develops, manufactures,
assembles and markets a comprehensive line of telecommunications products,
electronic scales and weighing instruments and health care products. Bonso
products are manufactured in the People's Republic of China on behalf of
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. For further information, visit the company's web site at
HTTP://WWW.BONSO.COM.
The statements contained in the press release which are not historical facts are
forward-looking statements that involve certain risks and uncertainties
including, but not limited to, risks associated with the uncertainty of future
financial results, additional financing requirements, development of new
products, government approval processes, the impact of competitive products or
pricing, technological changes, the effect of economic conditions and other
uncertainties detailed in the company's filings with the Securities and Exchange
Commission.
For more information please contact:
In US George OLeary
Tel: 949 760 9611
Fax: 949 760 9607
In Hong Kong Cathy Pang
Tel: 852 2605 5822
Fax:852 2691 1724
2
Bonso Electronics International Inc. and Subsidiaries
Consolidated Balance Sheets
(Expressed in United States Dollars)
March 31
--------------------------
2003 2004
$ $
Assets
Current assets
Cash and cash equivalents 3,633,528 10,815,279
Restricted cash deposits 4,104,168 4,337
Trade receivables, net 6,191,627 10,389,769
Inventories 12,656,518 10,881,932
Notes receivable 358,188 --
Tax recoverable 52,087 58,464
Deferred income tax assets - current 38,348 52,057
Other receivables, deposits and prepayments 1,166,234 888,658
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Total current assets 28,200,698 33,090,496
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Deposits 551,399 617,056
Deferred income tax assets - non current 128,887 15,178
Goodwill 1,100,962 1,100,962
Brand name 2,597,392 2,397,392
Property, plant and equipment
Leasehold land and buildings 12,505,141 12,446,534
Plant and machinery 12,801,183 15,401,460
Furniture, fixtures and equipment 5,251,171 5,798,190
Motor vehicles 343,068 344,035
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30,900,563 33,990,219
Less: accumulated depreciation and impairment (14,569,165) (17,612,858)
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Property, plant and equipment, net 16,331,398 16,377,361
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Total assets 48,910,736 53,598,445
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Liabilities and shareholders' equity
Current liabilities
Bank overdraft 216,410 156,429
Notes payable 4,818,971 3,244,194
Accounts payable 6,350,527 8,280,039
Accrued charges and deposits 1,827,286 2,951,797
Income taxes payable -- 279,485
Short-term loans 4,727,988 4,599,652
Current portion of long-term debt 235,000 244,528
Current portion of capital lease obligations 247,940 433,869
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Total current liabilities 18,424,122 20,189,993
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Long-term debt, net of current maturities 543,712 613,209
Capital lease obligations, net of current maturities 62,776 544,872
Commitments and contingencies (Notes 6(b) and 12)
Deferred income tax -- 39,718
Minority interests 55,275 14,203
Redeemable common stock
Redeemable common stock par value $0.003 per share
- issued and outstanding shares: 2003 - 180,726; 2004 - 180,726 1,445,808 1,445,808
3
Bonso Electronics International Inc. and Subsidiaries
Consolidated Balance Sheets
(Expressed in United States Dollars)
(Continued)
March 31(Con't)
--------------------------
2003 2004
$ $
Shareholders' equity
Preferred stock par value $0.01 per share
- authorized shares - 10,000,000
- issued and outstanding shares: 2003-nil; 2004-nil -- --
Common stock par value $0.003 per share
- authorized shares - 23,333,334
- issued and outstanding shares : 2003-5,529,133, 2004-5,527,639 16,583 16,579
Additional paid-in capital 21,458,376 21,665,801
Deferred consultancy fee -- --
Retained earnings 6,533,224 8,515,793
Accumulated other comprehensive income 409,692 552,469
Common stock held in treasury, at cost -19.900 shares (38,832) --
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28,379,043 30,750,642
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Total liabilities and shareholders' equity 48,910,736 53,598,445
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4
Bonso Electronics International Inc. and Subsidiaries
Consolidated Statements of Income (Loss) and Comprehensive Income (Loss)
(Expressed in United States Dollars)
Year ended March 31,
-----------------------------------------
2002 2003 2004
$ $ $
Net sales 53,303,101 46,330,054 74,706,725
Cost of sales 40,192,242 35,527,943 57,481,103
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Gross margin 13,110,859 10,802,111 17,225,622
Selling expenses 2,476,285 2,466,653 3,121,900
Salaries and related costs 3,880,274 4,563,453 5,150,345
Research and development expenses 426,364 392,926 739,730
Administration and general expenses 3,411,336 3,956,858 5,709,653
Amortization of brand name 202,608 200,000 200,000
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Income (loss) from operations 2,713,992 (777,779) 2,303,994
Interest income 166,723 85,178 57,169
Interest expenses (645,045) (532,624) (499,512)
Foreign exchange gains (losses) (39,954) (96,592) 15,081
Other income 181,272 169,456 752,310
Consultancy fee (381,420) (381,420) --
----------- ----------- -----------
Income (loss) before income taxes and minority interest 1,995,568 (1,533,781) 2,629,042
Income tax expense (189,962) (37,314) (401,504)
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Net income (loss) before minority interest 1,805,606 (1,571,095) 2,227,538
Minority interest -- (72,639) 41,072
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Net income (loss) 1,805,606 (1,643,734) 2,268,610
Other comprehensive income, net of tax:
Foreign currency translation adjustments net of tax -- 173,720 142,777
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Comprehensive income (loss) 1,805,606 (1,470,014) 2,411,387
=========== =========== ===========
Earnings (loss) per share
Basic $ 0.32 $ (0.29) $ 0.40
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Diluted $ 0.32 $ (0.29) $ 0.37
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5
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the
Registrant has duly caused this report to be signed on its behalf by the
undersigned, thereunto duly authorized.
BONSO ELECTRONICS INTERNATIONAL INC.
(Registrant)
Date: August 17, 2004 By: /s/ Henry F. Schlueter
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Henry F. Schlueter,
Assistant Secretary