BNSO - BNSO STOCK NEWS

Bonso Electronics International, Inc. (NASDAQ BNSO) has announced that it will voluntarily delist its common stock from The Nasdaq Stock Market and deregister its common stock under the Securities Exchange Act of 1934. The company cited the costs associated with being a Nasdaq listed and SEC reporting company as the reason behind this decision. The delisting is expected to become effective on or about July 11, 2023, and the common stock may be eligible for quotation on the Pink tier of OTC Markets Group. After the delisting, the company's obligation to file periodic reports under the Exchange Act will be suspended.

Bonso Electronics International (NASDAQ: BNSO) reported its unaudited results for the six months ending September 30, 2022. The company experienced a net loss of $1.6 million ($0.33 per share), an improvement from a $2.1 million loss ($0.44 per share) in the same period the previous year. Revenues declined by 10.5% to $5.4 million, primarily due to lower demand for pet electronic products. CEO Andrew So highlighted a strong cash position that supports ongoing product development and expressed optimism about improving sales and market share. The company is also progressing on redevelopment plans for its Shenzhen factory.

Bonso Electronics International (NASDAQ: BNSO) held its Annual General Meeting (AGM) on March 10, 2023, in Shenzhen, China. Shareholders approved the Board of Directors' appointments for the upcoming year, including Anthony So, Andrew So, Albert So, Kim Wah Chung, Woo Ping Fok, and Henry F. Schlueter. Additionally, MSPC Certified Public Accountants and Advisors, P.C. were appointed as Bonso’s independent registered public accounting firm for the fiscal year ending March 31, 2023. Bonso specializes in electronic scales and pet electronics, serving mainly North American and European markets, while also renting factory space and redeveloping its Shenzhen site.

Bonso Electronics International (NASDAQ: BNSO) held its Annual General Meeting on March 24, 2022, in Shenzhen, China. Shareholders ratified the appointments of six board members including Anthony So and Andrew So, ensuring continuity for another year. Additionally, MSPC Certified Public Accountants and Advisors were appointed as the company’s independent registered public accounting firm for the fiscal year ending March 31, 2022. Bonso specializes in manufacturing electronic scales and pet electronics, primarily serving North America and Europe.

Bonso Electronics International (NASDAQ: BNSO) reported a net loss of $2.10 million for the six months ended September 30, 2021, compared to a net income of $0.20 million in the same period last year. Net revenue dropped by 26.1% to $6.0 million due to decreased sales of pet electronic products, attributed to increased competition. The company faces delays in governmental approvals for redeveloping its Shenzhen factory, impacting project timelines. Bonso continues efforts to expand its product line and regain market share.

Bonso Electronics International (NASDAQ: BNSO) reported a net income of $1.77 million, or $0.36 per share for the fiscal year ending March 31, 2021, driven by a 19% revenue increase to $15.6 million compared to $13.1 million in the previous year. Growth was primarily attributed to sales in pet electronic products. The company's balance sheet remains strong with $10.1 million in cash and positive working capital of $8.0 million. Despite a temporary suspension of the Shenzhen factory redevelopment approvals, the company continues to pursue cost reductions and new product developments.

Bonso Electronics International (NASDAQ: BNSO) held its Annual General Meeting on June 8, 2021, in Shenzhen, China. Shareholders approved the appointments of six new board members and ratified MSPC Certified Public Accountants as the independent accounting firm for the fiscal year ending March 31, 2021. The company specializes in designing and manufacturing electronic scales and pet electronics, primarily serving North America and Europe. Bonso also engages in product design, quality management, and factory space rentals.

Bonso Electronics International (NASDAQ: BNSO) announced it received a compliance notice from Nasdaq regarding its failure to hold an annual meeting of stockholders within 12 months of the fiscal year ending March 31, 2020. The notice is a deficiency notification, not a delisting warning, and does not currently affect trading of BNSO's stock. The company has 45 days to submit a compliance plan and may receive an extension until September 27, 2021, if accepted. Bonso plans to hold its annual shareholders meeting by May 15, 2021.

Bonso Electronics (BNSO) reported a net income of $0.20 million for the six months ending September 30, 2020, a significant turnaround from a net loss of $0.59 million in the same period of 2019. Revenue surged by 84.3% to $8.1 million, primarily driven by increased sales of pet electronic products, especially through online channels. CEO Andrew So acknowledged potential challenges to sustaining growth, citing fierce competition and reduced purchasing power. Additionally, regulatory changes are delaying redevelopment plans for their Shenzhen factory, with approvals anticipated in about 12 months.