HK's Highway Holdings Q3 hit by loss of e-motor customer, Myanmar disruptions

Reuters03-02

HK's Highway Holdings Q3 hit by loss of e-motor customer, Myanmar disruptions

Overview

Hong Kong manufacturer reported fiscal Q3 revenue down 40.5% yr/yr due to customer loss
Company's fiscal Q3 net loss was $115,000, impacted by loss of motor business, vs a year-ago net income
Company negotiating to assemble electric car kits in Myanmar

Outlook

Highway Holdings expects continued impact from loss of motor business customer
Company aims to return to growth with cost reduction and strategic acquisitions
Highway Holdings targets improved performance starting fiscal year 2027

Result Drivers

CUSTOMER LOSS - Loss of significant motor business customer led to revenue decline and negative growth cycle
MYANMAR CHALLENGES - Political decisions by major customers halted operations in Myanmar, affecting profitability
NEW BUSINESS INITIATIVES - Co negotiating to assemble electric car kits in Myanmar to diversify revenue

Company press release: ID:nPn3h4Xz9a

Key Details

Metric	Beat/Miss	Actual	Consensus Estimate
Q3 Sales		$1.15 mln
Q3 Net Income		-$115,000

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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