Highway Q3 net revenue fell 40.5% to USD 1.1 million

Reuters03-02
Highway Q3 net revenue fell 40.5% to USD 1.1 million

Highway Holdings $(HIHO)$ reported fiscal 2026 Q3 net sales of USD 1.1 million (-40.5%) and a net loss attributable to shareholders of USD 0.1 million, or USD 0.02 per basic share, versus net income of USD 0.1 million a year earlier. Q3 gross margin was 25.5% (from 34.7%). For fiscal 2026 9M, net sales were USD 3.9 million (-34.6%) and the net loss attributable to shareholders was USD 0.4 million, or USD 0.09 per basic share, compared with net income of USD 0.4 million in the prior-year period. 9M gross margin was 28.9% (from 36.5%). The company said results included a reversal of a tax provision of USD 0.3 million in Q3 and USD 0.5 million in 9M. Cash and cash equivalents were USD 5.1 million at Dec. 31, 2025, and the current ratio was 4.26:1. Management said results continued to reflect the previously disclosed loss of a significant electric motor customer, with Myanmar operations near a full stop and most employees laid off, while a core team remains to enable a potential restart. Highway Holdings said it is negotiating with the Myanmar government to obtain rights and an import license to assemble low-cost Chinese electric car kits in Yangon for sale in Myanmar. The company also said it restarted game console manufacturing by moving materials and tools from Myanmar to China, began production in early February, and expects first shipments soon. Highway Holdings added it is closing its previously announced potential acquisition of Germany’s Regent-Feinbau Adermann GmbH and is planning a major reorganization to reduce operating expenses.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Highway Holdings Limited published the original content used to generate this news brief via PR Newswire (Ref. ID: 202603020700PR_NEWS_USPR_____CN98656) on March 02, 2026, and is solely responsible for the information contained therein.

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