Highway Holdings Ltd Files 2024 Annual Report

TL;DR

Highway Holdings Ltd filed its 2024 20-F, covering the year ending March 31st. Check it for biz updates.

AI Summary

Highway Holdings Limited filed its annual report on Form 20-F for the fiscal year ended March 31, 2024. The company, incorporated in the British Virgin Islands, is engaged in miscellaneous fabricated metal products. The filing details its business address and contact information, with its fiscal year ending on March 31st annually.

Why It Matters

This filing provides investors and stakeholders with the company's official financial and operational overview for the past fiscal year, crucial for understanding its performance and future outlook.

Risk Assessment

Risk Level: low — This is a standard annual report filing (20-F) and does not contain immediate, high-impact news or disclosures that would suggest a high risk level.

Key Numbers

• 0331 — Fiscal Year End (Indicates the end of the reporting period for financial statements.)

Key Players & Entities

• HIGHWAY HOLDINGS LTD (company) — Registrant
• 0001026785 (company) — Central Index Key
• 001-38490 (company) — SEC File Number
• March 31, 2024 (date) — Fiscal Year End

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Shares, $0.01 par value per share HIHO NASDAQ Capital
• $0.10 — ns to its shareholders, consisting of a $0.10 per share dividend on July 12, 2023, an
• $0.05 — share dividend on July 12, 2023, and a $0.05 per share dividend on December 23, 2023
• $569,000 — d to Highway Holdings in the amounts of $569,000, $1,019,000, and $616,000 respectively.
• $1,019,000 — ay Holdings in the amounts of $569,000, $1,019,000, and $616,000 respectively. For the fis
• $616,000 — he amounts of $569,000, $1,019,000, and $616,000 respectively. For the fiscal years ende
• $4,030,000 — le intercompany sales in the amounts of $4,030,000, $3,350,000, and $2,160,000 respectivel
• $3,350,000 — any sales in the amounts of $4,030,000, $3,350,000, and $2,160,000 respectively. Further,
• $2,160,000 — amounts of $4,030,000, $3,350,000, and $2,160,000 respectively. Further, our Hong Kong S
• $581,000 — sub-contracting fees in the amounts of $581,000, $440,000 and $325,000 respectively. Fo
• $440,000 — acting fees in the amounts of $581,000, $440,000 and $325,000 respectively. For the fisc
• $325,000 — n the amounts of $581,000, $440,000 and $325,000 respectively. For the fiscal years ende
• $131,000 — ng intercompany loans in the amounts of $131,000, $79,000 and nil respectively. Beginnin
• $79,000 — mpany loans in the amounts of $131,000, $79,000 and nil respectively. Beginning in Apri

Filing Documents

• ea0209205-20f_highway.htm (20-F) — 1577KB
• ea020920501ex8-1_highway.htm (EX-8.1) — 3KB
• ea020920501ex12-1_highway.htm (EX-12.1) — 8KB
• ea020920501ex12-2_highway.htm (EX-12.2) — 8KB
• ea020920501ex13-1_highway.htm (EX-13.1) — 3KB
• ea020920501ex13-2_highway.htm (EX-13.2) — 3KB
• ea020920501ex19-1_highway.htm (EX-19.1) — 49KB
• ea020920501ex97_highway.htm (EX-97) — 24KB
• 0001213900-24-061773.txt ( ) — 8425KB
• hiho-20240331.xsd (EX-101.SCH) — 93KB
• hiho-20240331_cal.xml (EX-101.CAL) — 59KB
• hiho-20240331_def.xml (EX-101.DEF) — 366KB
• hiho-20240331_lab.xml (EX-101.LAB) — 705KB
• hiho-20240331_pre.xml (EX-101.PRE) — 379KB
• ea0209205-20f_highway_htm.xml (XML) — 1092KB

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 56 Item 12.

Description of Securities Other Than Equity Securities

Description of Securities Other Than Equity Securities 57 PART II 58 Item 13. Defaults, Dividend Arrearages and Delinquencies 58 Item 14. Material Modification to the Rights of Securities Holders and Use of Proceeds 58 Item 15.

Controls and Procedures

Controls and Procedures 58 Item 16. [Reserved] 60 Item 16A. Audit Committee Financial Expert 60 Item 16B. Code of Ethics 61 Item 16C. Principal Accountant Fees and Services 61 Item 16D. Exemptions from the Listing Standards for Audit Committees 61 Item 16E. Purchases of Equity Securities by the Issuer and Affiliated Purchasers 61 Item 16F. Change in Registrant's Certifying Accountant 61 Item 16G. Corporate Governance 62 Item 16H. Mine Safety Disclosure 62 Item 16I. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 62 Item 16J. Insider Trading Policies 62 Item 16K. Cybersecurity 62 PART III 64 Item 17.

Financial statements

Financial statements 64 Item 18.

Financial statements

Financial statements 64 Item 19. Exhibits 64 i FORWARD - LOOKING STATEMENTS This annual report contains forward-looking statements that involve risks and uncertainties. All statements other than statements of historical facts are forward-looking statements. These forward-looking to be materially different from those expressed or implied by the forward-looking statements. You can identify these forward-looking statements by words or phrases such as "may," "will," "expect," "is expected to," "anticipate," "aim," "estimate," "future," "intend," "plan," "believe," "are likely to" or other similar expressions. We have based these forward-looking statements largely on our current expectations and projections about future events and financial trends that we believe may affect our financial condition, results of operations, business strategy and financial needs. These forward-looking statements include, but are not limited to: the Company's goals and strategies; the Company's expansion plans in Myanmar, including the operation of its manufacturing and assembly facilities at its Myanmar factory; the Company's business development, financial condition and results of operations; the Company's anticipated business activities and the expected impact of these actions on its results of operations and financial condition; expected changes in the Company's revenues and certain cost or expense items; the demand for, and market acceptance of, the Company's products and services; changes in the Company's relationships with its major customers; political, regulatory or economic changes in Hong Kong, Shenzhen, China, and Myanmar, such as the recent unrest in Myanmar, that affect the Company, including curr

Identity of Directors, Senior Management and Advisers

Item 1. Identity of Directors, Senior Management and Advisers Not applicable.

Offer Statistics and Expected Timetable

Item 2. Offer Statistics and Expected Timetable Not applicable.

Key Information

Item 3. Key Information Our Holding Company Structure Highway Holdings Limited is a British Virgin Islands holding company. As a holding company with no operations on its own, Highway Holdings Limited conducts all of its business operations through various subsidiaries formed and existing in Hong Kong, in the PRC and in Myanmar. Our operations in Hong Kong are conducted by various Hong Kong subsidiaries (the "Hong Kong Subsidiaries"), and in China through Nissin Metal and Plastic (Shenzhen) Company Limited ("Nissin PRC"), a company that is registered in China and a wholly-owned subsidiary of one of our Hong Kong Subsidiaries. We conduct our operations in Myanmar through our 84% owned Myanmar subsidiary Kayser Myanmar Manufacturing Company Ltd. ("Kayser Myanmar") . Our administrative functions and most of our engineering, design and marketing functions, are conducted in Hong Kong, and some of our manufacturing, engineering, tooling and design functions are conducted at Nissin PRC's factory complex in Long Hua, Shenzhen, China. Conducting business in Hong Kong and the PRC involves risks of uncertainty about any actions the Chinese government or other authorities may take in those jurisdictions. We do not operate our business through a variable interest entities ("VIE") structure. See " Item 4. Information on the Company–Organizational Structure/Offices and Manufacturing Facilities ." There are significant legal and operational risks associated with having some of our operations in Hong Kong and the PRC, including changes in the legal, political and economic policies of the Chinese and the United States governments, the future relations between China and the U.S., and changes to Chinese or U.S. regulations that may materially and adversely affect our business, financial condition and results of operations. While we do not believe that, as of the date of this annual report, our operations in Hong Kong or China are subject to the review or prior approval of the Cy

View Full Filing

View this 20-F filing on SEC EDGAR