Financial Performance - Second quarter revenue increased by 60.1% year over year, reaching $2.12 million compared to $1.32 million in the same period last year[1] - Gross profit for the second quarter rose by 117.8% year over year, totaling $834,000, with a gross profit margin of 39.4% compared to 29.0% in the prior year[3] - The company reported a net income of $231,000 for the second quarter, compared to $213,000 in the same period last year, reflecting a currency exchange gain of $58,000[5] - Interest income for the second quarter was approximately $58,000, attributed to rising interest rates, with a total of $103,000 for the first half of fiscal year 2025[6] Expenses - Selling, general and administrative expenses increased to $724,000 from $272,000, primarily due to a reversal of bad debt provisions in the previous year[4] Assets and Liabilities - Cash and cash equivalents amounted to $5.6 million, or approximately $1.28 per diluted share, exceeding all short- and long-term liabilities by approximately $1.4 million[7] - Total assets as of September 30, 2024, were $11.0 million, with total shareholders' equity of $6.8 million[7] Future Projects and Strategy - The company is set to launch a new motor project with production expected to start in the fiscal third quarter of 2025, which is anticipated to positively impact revenue growth[2] - The company is evaluating numerous potential ventures as part of its growth strategy, aiming to enhance future performance[2] - The company remains cautiously optimistic about improving business conditions despite ongoing challenges from the macro environment[2]

Core Points - Highway Holdings Limited declared a cash dividend of $0.02 per common share, to be paid on October 11, 2024, to shareholders of record on October 4, 2024 [1] - The company aims to consistently return capital to shareholders while focusing on unlocking greater value in varying market conditions [1] - Although the company has not fully returned to pre-COVID business levels, there are signs of improvement, and it maintains financial strength, boosting confidence in long-term prospects [1] Company Overview - Highway Holdings is an international manufacturer of various quality parts and products primarily for blue chip equipment manufacturers based in Germany [2] - The company's administrative offices are located in Hong Kong, with manufacturing facilities in Yangon, Myanmar, and Shenzhen, China [2]

Core Insights - Highway Holdings Limited has received an initial order of 100,000 units for a new model of brushless electric motor from a major strategic customer, marking a significant development for the company [1] - The new motor was specifically designed and manufactured by the company as an Original Design Manufacturer (ODM), rather than an Original Equipment Manufacturer (OEM) [1] - The development of this motor faced delays of over three years due to the COVID-19 pandemic and its aftermath, despite starting nearly five years ago [1] Company Overview - Highway Holdings is an international manufacturer providing a variety of quality parts and products primarily for blue chip equipment manufacturers based in Germany [2] - The company's administrative offices are located in Hong Kong, with manufacturing facilities in Yangon, Myanmar, and Shenzhen, China [2] - The new brushless electric motor is expected to significantly boost production volume and contribute to revenue growth in the near future [1]

Highway Transport, a North American leader in liquid chemical transportation, will begin integrating the Battle Born All-Electric APU into their fleet.The Battle Born All-Electric APU offers a comprehensive lithium iron phosphate (“LiFePO4”) based power solution that is expected to reduce Highway Transport’s fuel costs while increasing sustainability through emission reductions.This agreement demonstrates another major step forward for Dragonfly Energy as the Company continues to penetrate the commercial tr ...

HONG KONG , Aug. 1, 2024 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO) today reported financial results for the first quarter of fiscal year 2025 ended June 30, 2024.Net sales for the first quarter of fiscal year 2025 ended June 30, 2024 increased 39.3% to $1.88 million compared with $1.35 million in the first quarter of fiscal year 2024. Net gain for the first quarter of fiscal year 2025 was $98,000, or $0.02 per diluted share, compared with net loss of $338,000, or a loss of $0.08 per diluted sh ...

United States SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Title of each class Trading Symbol(s) Name of each exchange on which registered Common Shares, $0.01 par value per share HIHO NASDAQ Capital Market Preferred Share Purchase Rights N/A NASDAQ Capital Market FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) or (g) OF THE SECURITIES EXCHANGE ACT OF 1934 or ☒ ANNUAL REPORT PURSUANT TO SECTION 13 or 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended March 31, 2 ...

Exhibit 99.1 NEWS RELEASE HIGHWAY HOLDINGS RESTATES UNAUDITED FINANCIAL STATEMENTS FOR 3 AND 9 MONTHS ENDED DECEMBER 31, 2023 RESULTING IN HIGHER NET INCOME FOR BOTH PERIODS HONG KONG –July 12, 2024 – Highway Holdings Limited (Nasdaq: HIHO) (the "Company" or "Highway Holdings") today announced it has restated its unaudited quarterly financial statements for the three and nine months ended December 31, 2023, which were released in an earnings press release on February 1, 2024. The decision to restate the fin ...

HONG KONG, July 12, 2024 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO) (the "Company" or "Highway Holdings") today announced it has restated its unaudited quarterly financial statements for the three and nine months ended December 31, 2023, which were released in an earnings press release on February 1, 2024. The decision to restate the financial statements was approved on July 12, 2024 by Highway Holdings' Board of Directors upon the recommendation of the Audit Committee of the Board of Directors ...

As one whisks by the seemingly endless rows of orange barrels on US highways and bridges this summer, it is quite apparent that infrastructure spending is alive and well.Recall that the IIJA (Infrastructure Investment and Jobs Act) was passed at the end of 2021 with a price tag of $1.2 trillion over a 5-year period. Of this amount, $300B was specifically earmarked for roads and bridges.The White House website, which chronicles the progress of the spending, reports that $454B has been awarded and is in route ...

ZOOZ Power has installed its flywheel-based power boosting and management solution at a second site on Route 6, the Cross-Israel Highway, one of Israel’s most congested transportation corridors, in partnership with Dor-Alon and AfconEV following its first installation in May, 2024Using stored kinetic energy from its flywheels and its energy management software, ZOOZ Power supplements the grid power, maximizing charging infrastructure utilizationThe two installations more than double the potential ultrafast ...