Highway Holdings Limited
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsHighway Holdings Limited is a Hong Kong-headquartered, British Virgin Islands-incorporated holding company that manufactures metal parts and components through subsidiaries in China, Myanmar, and Germany, and is listed on the NASDAQ Capital Market under HIHO.
What they do
The company operates as a holding company through controlled subsidiaries, including an 84%-owned subsidiary in Myanmar and a 51%-owned subsidiary in Germany. Its principal operations are conducted in the People's Republic of China and Hong Kong, with corporate headquarters at Sheung Shui, New Territories, Hong Kong. The company manufactures metal parts and components, consistent with its SIC classification in Miscellaneous Fabricated Metal Products. As of March 31, 2026, it had 4,626,676 common shares outstanding.
Revenue drivers
- Metal parts and components manufacturing — The company's core business is the manufacture of fabricated metal parts and components, though the filing excerpt does not break out product-level or segment-level revenue figures.
- China and Hong Kong operations — The company's principal operating locations are in China and Hong Kong, where manufacturing and administrative activities are concentrated.
- Myanmar subsidiary — An 84%-owned subsidiary in Myanmar forms part of the consolidated group, although the excerpt does not quantify its contribution to revenue.
Recent performance
For fiscal year 2026, revenue was $57,000, down sharply from $7.4 million in fiscal 2025 and $6.3 million in fiscal 2024. Net loss for fiscal 2026 was $1.5 million, compared with net income of $106,000 in fiscal 2025. Diluted EPS was negative $0.33 in fiscal 2026, versus positive $0.02 in fiscal 2025. Operating cash flow was negative $1.4 million in fiscal 2026, compared with negative $360,000 in fiscal 2025. As of March 31, 2026, total assets were $11.0 million, total liabilities were $5.6 million, and shareholder equity was $4.9 million.
Strategy
The filing excerpt does not contain a detailed discussion of management's strategy or forward priorities. The company operates through subsidiaries in China, Myanmar, and Germany, and its headquarters are in Hong Kong. No specific investment plans, capacity expansions, or new product initiatives are described in the excerpt. The forward-looking statements section lists general categories such as business development, customer relationships, and dividend policy, but does not commit to specific actions.
Risks
- Severe revenue decline — Revenue fell from $7.4 million in fiscal 2025 to $57,000 in fiscal 2026, a decline of more than 99%.
- Operating cash burn — Operating cash flow was negative $1.4 million in fiscal 2026, following negative $360,000 in fiscal 2025.
- Net losses — The company reported a net loss of $1.5 million in fiscal 2026 and negative diluted EPS of $0.33.
- Geographic and subsidiary concentration — Operations are concentrated in China and Hong Kong, with additional exposure through an 84%-owned Myanmar subsidiary and a 51%-owned German subsidiary.
Outlook
The filing excerpt does not provide specific forward guidance on revenue, earnings, or cash flow. Management's forward-looking statements address general categories including business development, financial condition, customer relationships, and dividend policy, but do not quantify expected results. No concrete targets or timelines are disclosed in the excerpt. Actual results are subject to risks and uncertainties described in the filing.