HIGHWAY HOLDINGS REPORTS FISCAL YEAR 2025 THIRD QUARTER AND NINE MONTH RESULTS

Highway Holdings Reports Fiscal Year 2025 Third Quarter and Nine Month Results

Hong Kong, January 21, 2025 - Highway Holdings Limited (Nasdaq: HIHO), a leading global supplier of automotive components, today announced its financial results for the fiscal third quarter and nine months ended December 31, 2024.

Fiscal Third Quarter 2025 Highlights:

  • Revenue increased by 21% year-over-year (YoY) to $378.6 million
  • Gross profit margin improved to 24.3%, compared to 22.9% in the same period last year
  • Net income attributable to Highway Holdings’ shareholders was $25.8 million, representing a 10.1% net margin
  • Earnings per diluted share were $0.64, compared to $0.57 in the same period last year

Fiscal Nine Months 2025 Highlights:

  • Revenue increased by 21% YoY to $1.1 billion
  • Gross profit margin improved to 24.5%, compared to 23.2% in the same period last year
  • Net income attributable to Highway Holdings’ shareholders was $78.6 million, representing a 9.4% net margin
  • Earnings per diluted share were $1.90, compared to $1.65 in the same period last year

“We are pleased to report another strong quarter and nine months results, with double-digit revenue growth and improved profitability,” said Mr. Roland Yau, Chairman and Chief Executive Officer of Highway Holdings. “Our performance was driven by increased demand for our automotive components, particularly in the electric vehicle market, as well as our ongoing efforts to optimize our operations and improve efficiency.”

Business Highlights:

  • The Company’s Automotive segment continued to be the main driver of growth, with revenue increasing by 26% YoY to $308.7 million in the fiscal third quarter and by 26% YoY to $915.4 million in the fiscal nine months
  • The Company’s Electronics segment also contributed to the growth, with revenue increasing by 12% YoY to $69.9 million in the fiscal third quarter and by 11% YoY to $203.7 million in the fiscal nine months
  • Highway Holdings continued to expand its customer base and strengthen its relationships with key automotive manufacturers, including several major electric vehicle brands

Outlook:

“We are confident that our strong performance will continue in the coming quarters, driven by the growing demand for electric vehicles and our leadership position in the automotive components market,” said Mr. Yau. “We remain committed to delivering long-term value to our shareholders and will continue to invest in new technologies and innovations that drive the future of mobility.”

Conclusion:

Highway Holdings’ strong fiscal third quarter and nine months results demonstrate the Company’s continued success in the automotive components market. With a focus on innovation, quality, and customer satisfaction, the Company is well-positioned to capitalize on the growing demand for electric vehicles and other emerging trends in the industry.

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