Aankondiging • Mar 06
Highway Holdings Limited (NasdaqCM:HIHO) completed the acquisition of 51% stake in Regent Feinbau Adermann GmbH from Lemale Beteiligungs-Gmbh for €0.66 million. Highway Holdings Limited (NasdaqCM:HIHO) signed a letter of intent to acquire 51% stake in Regent Feinbau Adermann GmbH from Lemale Beteiligungs-Gmbh on December 23, 2025. The consideration will be paid in cash and a smaller amount of the Highway Holdings Limited's unregistered shares
The proposed acquisition remains subject to the completion of due diligence, negotiation and execution of a definitive purchase agreement, and satisfaction of customary closing conditions and which is targeted to close by the end of March 2026,
Highway Holdings Limited (NasdaqCM:HIHO) completed the acquisition of 51% stake in Regent Feinbau Adermann GmbH from Lemale Beteiligungs-Gmbh for €0.66 million on March 5, 2026. As part of consideration, €0.61 million will be paid in cash and €0.05 million the issuance of 64,851 of the Highway Holdings Limited's common shares. The current CEO of Regent-Feinbau, Matthias Bauer, will continue as the Managing Director of Regent-Feinbau. Reported Earnings • Mar 04
Third quarter 2026 earnings released: US$0.025 loss per share (vs US$0.021 profit in 3Q 2025) Third quarter 2026 results: US$0.025 loss per share (down from US$0.021 profit in 3Q 2025). Revenue: US$1.15m (down 41% from 3Q 2025). Net loss: US$115.0k (down 225% from profit in 3Q 2025). Over the last 3 years on average, earnings per share has increased by 4% per year but the company’s share price has fallen by 25% per year, which means it is significantly lagging earnings. Aankondiging • Dec 25
Highway Holdings Limited (NasdaqCM:HIHO) signed a letter of intent to acquire 51% stake in Regent Feinbau Adermann GmbH from Lemale Beteiligungs-Gmbh. Highway Holdings Limited (NasdaqCM:HIHO) signed a letter of intent to acquire 51% stake in Regent Feinbau Adermann GmbH from Lemale Beteiligungs-Gmbh on December 23, 2025.
The proposed acquisition remains subject to the completion of due diligence, negotiation and execution of a definitive purchase agreement, and satisfaction of customary closing conditions and which is targeted to close by the end of March 2026, New Risk • Dec 24
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 16% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Paying a dividend despite having no free cash flows. Earnings have declined by 42% per year over the past 5 years. Market cap is less than US$10m (US$5.75m market cap). Minor Risk Share price has been volatile over the past 3 months (16% average weekly change). Reported Earnings • Dec 17
Second quarter 2026 earnings released: US$0.081 loss per share (vs US$0.052 profit in 2Q 2025) Second quarter 2026 results: US$0.081 loss per share (down from US$0.052 profit in 2Q 2025). Revenue: US$1.18m (down 44% from 2Q 2025). Net loss: US$373.0k (down 262% from profit in 2Q 2025). Over the last 3 years on average, earnings per share has fallen by 17% per year but the company’s share price has fallen by 23% per year, which means it is performing significantly worse than earnings. Valuation Update With 7 Day Price Move • Nov 20
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to US$1.19, the stock trades at a trailing P/E ratio of 79.4x. Average trailing P/E is 23x in the Machinery industry in the US. Total loss to shareholders of 38% over the past three years. Board Change • Nov 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Director Doron Aharonov was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Sep 12
First quarter 2026 earnings released: EPS: US$0.014 (vs US$0.022 in 1Q 2025) First quarter 2026 results: EPS: US$0.014 (down from US$0.022 in 1Q 2025). Revenue: US$1.55m (down 18% from 1Q 2025). Net income: US$61.0k (down 38% from 1Q 2025). Profit margin: 3.9% (down from 5.2% in 1Q 2025). Over the last 3 years on average, earnings per share has fallen by 35% per year but the company’s share price has only fallen by 8% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 15
Highway Holdings Limited, Annual General Meeting, Sep 12, 2025 Highway Holdings Limited, Annual General Meeting, Sep 12, 2025. Location: offices of troygould pc, 1801 century park east, 16th floor, california, los angeles, United States Reported Earnings • Jul 02
Full year 2025 earnings released: EPS: US$0.024 (vs US$0.22 loss in FY 2024) Full year 2025 results: EPS: US$0.024 (up from US$0.22 loss in FY 2024). Revenue: US$7.41m (up 17% from FY 2024). Net income: US$106.0k (up US$1.07m from FY 2024). Profit margin: 1.4% (up from net loss in FY 2024). Over the last 3 years on average, earnings per share has fallen by 59% per year but the company’s share price has only fallen by 10% per year, which means it has not declined as severely as earnings. Buy Or Sell Opportunity • Jun 06
Now 21% overvalued Over the last 90 days, the stock has fallen 5.1% to US$1.75. The fair value is estimated to be US$1.44, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • May 08
Now 23% overvalued Over the last 90 days, the stock has fallen 2.2% to US$1.80. The fair value is estimated to be US$1.46, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Feb 18
Highway Holdings Limited Announces Board Appointments Highway Holdings Limited announced the appointment of four new directors to its Board of Directors, filling prior vacancies. The new directors bring a wealth of experience in multinational business environments, with expertise in finance, manufacturing, entrepreneurship, strategy and M&A. The appointments represent a comprehensive restructuring and rejuvenation of Highway Holdings' Board of Directors to align with supporting its long-term growth strategy. New Board of Director Appointments: Patrick Michaels, 49 years old, has over 30 years of experience in investment banking, wealth management and strategic advisory. He has served as the Executive Chairman of Zuri-Invest AG since 2002, while also serving as Chairman of Asty Capital AG since 1998. Mr. Michaels previously held positions with UBS AG (Zurich). He studied economics at the University of Zurich, and subsequently studied business, civil and criminal law at the same university, followed by studies at The Colorado School of Mines. Mr. Michaels additionally serves as a director on the boards of GoldQuest Mining Corp. and the charitable organization of Cyprus Seeds. Mr. Michaels was appointed as a Class I director. Marcus Bagnall, 39 years old, has over 15 years of experience advising multinational organizations on complex legal, regulatory and commercial matters, with a deep understanding of digital transformation, corporate and M&A, supply chain complexities and managing operational legal risks. He currently serves as a Partner at Wiggin LLP (London), having previously held positions at Linklaters LLP (London), Webb Henderson (Sydney), Australian Business Lawyers & Advisors (Sydney), and DLA Piper (Sydney). Mr. Bagnall holds a B.Ec/LLB from the University of New South Wales, a Graduate Diploma in Legal Practice from the College of Law, and an LLM (Corporate, Commercial and Taxation) from the University of New South Wales. He currently serves on the Advisory Board of Eyes of AI. Mr. Bagnall was appointed as a Class I director. Annie Leung Hoi Ling, 36 years old, has over 12 years of experience in engineering design, manufacturing, and operations. She currently runs an OEM factory she built in 2019 in Vietnam with over 600 employees. Ms. Leung previously held positions at Artop Group, Good Mark Industrial Limited and Good Mark Industrial Vietnam. She received BEng with honors in product analysis and engineering design from The Hong Kong Polytechnic University. Ms. Leung was appointed as a Class II director. Brian Chu Chong Tat, 52 years old, has over 28 years of experience in collaborative education and entrepreneurship. His dedication to excellence and commitment to helping students realize their unique strengths has served as the foundation for a highly successful career. He currently works at Ng Clan's Association Tai Pak Memorial School, having previously served at ECF Saint Canaan College. Mr. Chu also founded a highly successful tennis club on his own initiative, with approximately 100 active members. Mr. Chu holds a Bachelor of Education with Honors from Hong Kong Education University. Mr. Chu was appointed as a Class II director. Buy Or Sell Opportunity • Jan 23
Now 23% overvalued after recent price rise Over the last 90 days, the stock has risen 2.1% to US$1.94. The fair value is estimated to be US$1.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 24% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Jan 21
Third quarter 2025 earnings released: EPS: US$0.021 (vs US$0.079 in 3Q 2024) Third quarter 2025 results: EPS: US$0.021 (down from US$0.079 in 3Q 2024). Revenue: US$1.93m (down 14% from 3Q 2024). Net income: US$92.0k (down 74% from 3Q 2024). Profit margin: 4.8% (down from 16% in 3Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Upcoming Dividend • Dec 05
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 12 December 2024. Payment date: 24 December 2024. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 3.6%. Lower than top quartile of American dividend payers (4.2%). Higher than average of industry peers (1.5%). Declared Dividend • Nov 13
Dividend of US$0.05 announced Shareholders will receive a dividend of US$0.05. Ex-date: 12th December 2024 Payment date: 24th December 2024 Dividend yield will be 6.0%, which is higher than the industry average of 1.7%. Sustainability & Growth Dividend is being paid despite the company being loss-making over the last 12 months. The dividend is also not covered by cash flows (104% cash payout ratio). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. Aankondiging • Nov 12
Highway Holdings Declares Cash Dividend, Payable on December 24, 2024 Highway Holdings Limited announced the Company's Board of Directors declared a cash dividend of $0.05 per common share. The dividend will be paid on December 24, 2024 to shareholders of record on December 12, 2024. Reported Earnings • Oct 11
Second quarter 2025 earnings released: EPS: US$0.052 (vs US$0.05 in 2Q 2024) Second quarter 2025 results: EPS: US$0.052 (up from US$0.05 in 2Q 2024). Revenue: US$2.12m (up 60% from 2Q 2024). Net income: US$231.0k (up 8.5% from 2Q 2024). Profit margin: 11% (down from 16% in 2Q 2024). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 61 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Oct 11
Now 25% overvalued Over the last 90 days, the stock has fallen 8.5% to US$1.95. The fair value is estimated to be US$1.56, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 22% over the last 3 years. Meanwhile, the company became loss making. Buy Or Sell Opportunity • Sep 25
Now 20% overvalued Over the last 90 days, the stock has fallen 8.6% to US$1.90. The fair value is estimated to be US$1.58, however this is not to be taken as a sell recommendation but rather should be used as a guide only. Revenue has declined by 19% over the last 3 years. Meanwhile, the company became loss making. Aankondiging • Sep 02
Highway Holdings Limited, Annual General Meeting, Oct 11, 2024 Highway Holdings Limited, Annual General Meeting, Oct 11, 2024. Location: offices of troygould pc, 1801 century park east, 16th floor, california, los angeles, United States Buy Or Sell Opportunity • Jul 29
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 11% to US$1.87. The fair value is estimated to be US$2.34, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 14% over the last 3 years. Earnings per share has declined by 70%. Reported Earnings • Jul 17
Full year 2024 earnings released: US$0.22 loss per share (vs US$0.072 loss in FY 2023) Full year 2024 results: US$0.22 loss per share (further deteriorated from US$0.072 loss in FY 2023). Revenue: US$6.32m (down 38% from FY 2023). Net loss: US$959.0k (loss widened 226% from FY 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 53 percentage points per year, which is a significant difference in performance. Buy Or Sell Opportunity • Apr 20
Now 25% undervalued Over the last 90 days, the stock has risen 3.4% to US$2.09. The fair value is estimated to be US$2.80, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Apr 12
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 19 April 2024. Payment date: 03 May 2024. Trailing yield: 9.3%. Within top quartile of American dividend payers (4.8%). Higher than average of industry peers (1.6%). Aankondiging • Apr 02
Highway Holdings Limited Declares Cash Dividend, Payable on May 3, 2024 Highway Holdings Limited announced the company's Board of Directors declared a cash dividend of $0.05 per common share. The dividend will be paid on May 3, 2024 to shareholders of record on April 22, 2024. Buy Or Sell Opportunity • Feb 05
Now 21% undervalued Over the last 90 days, the stock has risen 1.2% to US$2.05. The fair value is estimated to be US$2.59, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 6.2% over the last 3 years. Meanwhile, the company became loss making. Reported Earnings • Feb 03
Third quarter 2024 earnings released: EPS: US$0.069 (vs US$0.013 in 3Q 2023) Third quarter 2024 results: EPS: US$0.069 (up from US$0.013 in 3Q 2023). Revenue: US$4.11m (up 60% from 3Q 2023). Net income: US$302.0k (up 481% from 3Q 2023). Profit margin: 7.4% (up from 2.0% in 3Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 50 percentage points per year, which is a significant difference in performance. Buying Opportunity • Dec 19
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 2.9%. The fair value is estimated to be US$2.55, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 4.6% over the last 3 years. Meanwhile, the company became loss making. Upcoming Dividend • Nov 22
Upcoming dividend of US$0.05 per share at 15% yield Eligible shareholders must have bought the stock before 29 November 2023. Payment date: 23 December 2023. The company is not currently making a profit and there are not enough cash flows to support it either. Trailing yield: 15%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (1.8%). Reported Earnings • Nov 19
Second quarter 2024 earnings released: EPS: US$0.05 (vs US$0.097 in 2Q 2023) Second quarter 2024 results: EPS: US$0.05 (down from US$0.097 in 2Q 2023). Revenue: US$1.32m (down 57% from 2Q 2023). Net income: US$213.0k (down 46% from 2Q 2023). Profit margin: 16% (up from 13% in 2Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 51 percentage points per year, which is a significant difference in performance. Board Change • Oct 27
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 3 highly experienced directors. 2 independent directors (3 non-independent directors). Independent Director Irene Wong was the last independent director to join the board, commencing their role in 2005. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Aankondiging • Jul 28
Highway Holdings Announces to Resume Full Production for Playmaji Highway Holdings Limited announced that it will resume manufacturing for Playmaji Inc. Highway Holdings previously announced a significant, multi-year order on October 15, 2020 to manufacture Playmaji's Polymega game consoles and accessories. Subsequent to the announcement, complications from the COVID-19 pandemic created micro-chip and component shortages and logistics and shipping delays, which in turn resulted in lower-than-expected manufacturing volume and production yields for FY2020-2022. With pandemic-era related production issues resolved and fresh momentum behind the project following Playmaji's recent announcement of a partnership and minority investment from Atari, Playmaji and Highway Holdings anticipate returning to full production in Second Quarter /Q3 2023 and delivering to customers and distributors Polymega gaming hardware consistently going forward into the future. Aankondiging • Jul 15
Highway Holdings Limited, Annual General Meeting, Aug 25, 2023 Highway Holdings Limited, Annual General Meeting, Aug 25, 2023, at 08:00 US Eastern Standard Time. Location: 1801 Century Park East, Suite 1600 Los Angeles, California U.S.A., Los Angeles California United States Agenda: To elect one member of the Company's Board of Directors to serve until the 2026 Annual Meeting of Shareholders; to ratify the selection by the Board of Directors of ARK Pro CPA & Co as the independent accountants of the company for the fiscal year ending March 31, 2024; and to transact such other business as may properly come before the meeting or any adjournment thereof. New Risk • Jul 14
New major risk - Dividend sustainability The dividend is not well covered by earnings and cash flows. The company is paying a dividend despite being loss-making. Cash payout ratio: 185% Dividend yield: 13% This is considered a major risk. Companies that pay out too much of their earnings and cash flows are at risk of having to reduce or cut their dividend in future. If earnings or cash flows stagnate or fall, then there may not be enough to maintain the same dividend. Or in extreme cases, companies may opt to dig into capital reserves or take on debt to maintain the dividend. For dividend paying companies, any reduction in the dividend can significantly impact the share price. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Paying a dividend despite being loss-making. Cash payout ratio: 185% Earnings have declined by 13% per year over the past 5 years. Minor Risks Shareholders have been diluted in the past year (9.4% increase in shares outstanding). Market cap is less than US$100m (US$10.8m market cap). Reported Earnings • Jul 14
Full year 2023 earnings released: US$0.072 loss per share (vs US$0.11 profit in FY 2022) Full year 2023 results: US$0.072 loss per share (down from US$0.11 profit in FY 2022). Revenue: US$10.2m (down 17% from FY 2022). Net loss: US$294.0k (down 166% from profit in FY 2022). Over the last 3 years on average, earnings per share has fallen by 29% per year but the company’s share price has only fallen by 4% per year, which means it has not declined as severely as earnings. New Risk • Jun 25
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of American stocks, typically moving 10% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 13% per year over the past 5 years. Minor Risks Dividend is not well covered by earnings (219% payout ratio). Share price has been volatile over the past 3 months (10% average weekly change). Market cap is less than US$100m (US$10.9m market cap). Buying Opportunity • Jun 24
Now 26% undervalued Over the last 90 days, the stock is up 23%. The fair value is estimated to be US$3.64, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has been flat over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jun 21
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to US$2.92, the stock trades at a trailing P/E ratio of 25.8x. Average trailing P/E is 20x in the Machinery industry in the US. Total returns to shareholders of 39% over the past three years. Upcoming Dividend • Jun 16
Upcoming dividend of US$0.10 per share at 12% yield Eligible shareholders must have bought the stock before 23 June 2023. Payment date: 12 July 2023. Trailing yield: 12%. Within top quartile of American dividend payers (4.9%). Higher than average of industry peers (1.7%). Aankondiging • May 25
Highway Holdings Limited Declares Cash Dividend, Payable on July 12, 2023 Highway Holdings Limited announced the Company’s Board of Directors declared a cash dividend of $0.10 per common share. The dividend will be paid on July 12, 2023 to shareholders of record on June 26, 2023. In 2022, the Company distributed 3 separate cash dividends to shareholders totaling $0.25 per common share. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 21% After last week's 21% share price gain to US$2.41, the stock trades at a trailing P/E ratio of 21.3x. Average trailing P/E is 20x in the Machinery industry in the US. Total returns to shareholders of 45% over the past three years. Reported Earnings • Feb 17
Third quarter 2023 earnings released: EPS: US$0.013 (vs US$0.06 in 3Q 2022) Third quarter 2023 results: EPS: US$0.013 (down from US$0.06 in 3Q 2022). Revenue: US$2.56m (down 14% from 3Q 2022). Net income: US$52.0k (down 78% from 3Q 2022). Profit margin: 2.0% (down from 8.0% in 3Q 2022). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has increased by 4% per year whereas the company’s share price has increased by 5% per year. Buying Opportunity • Feb 06
Now 21% undervalued Over the last 90 days, the stock is up 13%. The fair value is estimated to be US$2.97, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 2.7% over the last 3 years. Meanwhile, the company has become profitable. Upcoming Dividend • Dec 07
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 14 December 2022. Payment date: 05 January 2023. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 11%. Within top quartile of American dividend payers (4.3%). Higher than average of industry peers (1.6%). Board Change • Nov 16
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Irene Wong was the last independent director to join the board, commencing their role in 2005. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Nov 16
Highway Holdings Limited Declares Cash Dividend, Payable on January 5, 2023 Highway Holdings Limited announced the company's Board of Directors has declared a new cash dividend of $0.05 per common share. The latest dividend will be paid on January 5, 2023 to shareholders of record on December 15, 2022. The company has already paid $0.20 per share in 2022 through two previous dividends. Reported Earnings • Oct 18
Second quarter 2023 earnings released: EPS: US$0.097 (vs US$0.06 in 2Q 2022) Second quarter 2023 results: EPS: US$0.097 (up from US$0.06 in 2Q 2022). Revenue: US$3.04m (down 9.5% from 2Q 2022). Net income: US$396.0k (up 64% from 2Q 2022). Profit margin: 13% (up from 7.2% in 2Q 2022). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 32% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Sep 22
Upcoming dividend of US$0.15 per share Eligible shareholders must have bought the stock before 29 September 2022. Payment date: 07 October 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 12%. Within top quartile of American dividend payers (4.4%). Higher than average of industry peers (1.9%). Board Change • Sep 13
Less than half of directors are independent Following the recent departure of a director, there are only 2 independent directors on the board. The company's board is composed of: 2 independent directors. 3 non-independent directors. Independent Director Irene Wong was the last independent director to join the board, commencing their role in 2005. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Aankondiging • Sep 09
Highway Holdings Limited Announces Director Resignations Highway Holdings Limited received a notice from Kevin Yang Kuang Yu that he was resigning from Registrant’s Board of Directors. Likewise, on September 2 and September 5, the Registrant also received resignation notices from George Leung Wing Chan and Uri Bernhard Oppenheimer, respectively. All resignation notices stated that the former directors were resigning effective immediately. None of the resignation notices stated that their resignations were due to any disagreements with the Registrant regarding any issues relating to the Registrant’s operations, policies or practices. Aankondiging • Aug 12
Highway Holdings Limited Declares Cash Dividend, Payable on October 7, 2022 Highway Holdings Limited announced its board of directors has declared a cash dividend of $0.15 per share on the company’s common stock. The dividend will be paid on October 7, 2022 to shareholders of record on September 30, 2022. Buying Opportunity • Aug 08
Now 23% undervalued Over the last 90 days, the stock is up 4.4%. The fair value is estimated to be US$2.76, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 5.0% over the last 3 years. Meanwhile, the company has become profitable. Valuation Update With 7 Day Price Move • Jul 18
Investor sentiment deteriorated over the past week After last week's 17% share price decline to US$1.80, the stock trades at a trailing P/E ratio of 16.4x. Average trailing P/E is 21x in the Machinery industry in the US. Total loss to shareholders of 5.5% over the past three years. Reported Earnings • Jul 02
Full year 2022 earnings released: EPS: US$0.11 (vs US$0.12 loss in FY 2021) Full year 2022 results: EPS: US$0.11 (up from US$0.12 loss in FY 2021). Revenue: US$12.4m (up 35% from FY 2021). Net income: US$443.0k (up US$904.0k from FY 2021). Profit margin: 3.6% (up from net loss in FY 2021). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 60% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Aankondiging • Jul 02
Highway Holdings Limited, Annual General Meeting, Aug 15, 2022 Highway Holdings Limited, Annual General Meeting, Aug 15, 2022, at 08:00 Pacific Standard Time. Location: TroyGould PC, 1801 Century Park East, 16 Floor Los Angeles California United States Agenda: To elect three members of the Company's Board of Directors to serve until the 2025 Annual Meeting of Shareholders; to ratify the selection by the Board of Directors of Centurion ZD CPA & Co. as the independent accountants of the Company for the fiscal year ending March 31, 2023; and to transact such other business as may properly come before the meeting or any adjournment thereof. Valuation Update With 7 Day Price Move • Jun 01
Investor sentiment improved over the past week After last week's 17% share price gain to US$2.30, the stock trades at a trailing P/E ratio of 35.6x. Average trailing P/E is 22x in the Machinery industry in the US. Total loss to shareholders of 5.8% over the past three years. Valuation Update With 7 Day Price Move • May 09
Investor sentiment deteriorated over the past week After last week's 18% share price decline to US$1.98, the stock trades at a trailing P/E ratio of 30.5x. Average trailing P/E is 21x in the Machinery industry in the US. Total loss to shareholders of 21% over the past three years. Buying Opportunity • May 02
Now 22% undervalued after recent price drop Over the last 90 days, the stock is down 18%. The fair value is estimated to be US$3.10, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 44%. Buying Opportunity • Apr 13
Now 21% undervalued after recent price drop Over the last 90 days, the stock is down 33%. The fair value is estimated to be US$3.11, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 13% over the last 3 years. Earnings per share has grown by 44%. Upcoming Dividend • Feb 28
Upcoming dividend of US$0.05 per share Eligible shareholders must have bought the stock before 07 March 2022. Payment date: 08 April 2022. The company is paying out more than 100% of its profits and is cash flow negative. Trailing yield: 5.9%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (1.7%). Aankondiging • Feb 08
Highway Holdings Limited Declares Cash Dividend, Payable on April 8, 2022 Highway Holdings Limited announced its board of directors has declared a cash dividend of $0.05 per share on the company’s common stock. The dividend will be paid on April 8, 2022 to shareholders of record on March 8, 2022. Reported Earnings • Feb 03
Third quarter 2022 earnings: Revenues and EPS in line with analyst expectations Third quarter 2022 results: EPS: US$0.06 (up from US$0.021 in 3Q 2021). Revenue: US$3.00m (up 18% from 3Q 2021). Net income: US$240.0k (up 186% from 3Q 2021). Profit margin: 8.0% (up from 3.3% in 3Q 2021). The increase in margin was driven by higher revenue. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 44% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Buying Opportunity • Jan 26
Now 20% undervalued after recent price drop Over the last 90 days, the stock is down 41%. The fair value is estimated to be US$3.01, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has declined by 16% per annum over the last 3 years. Earnings per share has grown by 10% per annum over the last 3 years. Reported Earnings • Oct 19
Second quarter 2022 earnings released: EPS US$0.06 (vs US$0.059 in 2Q 2021) The company reported a solid second quarter result with improved earnings and revenues, although profit margins were weaker. Second quarter 2022 results: Revenue: US$3.36m (up 24% from 2Q 2021). Net income: US$242.0k (up 5.7% from 2Q 2021). Profit margin: 7.2% (down from 8.4% in 2Q 2021). Over the last 3 years on average, earnings per share has increased by 10% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Aug 27
Upcoming dividend of US$0.06 per share Eligible shareholders must have bought the stock before 03 September 2021. Payment date: 12 October 2021. Trailing yield: 4.4%. Within top quartile of American dividend payers (3.6%). Higher than average of industry peers (1.4%). Reported Earnings • Jul 18
Full year 2021 earnings released: US$0.12 loss per share (vs US$0.17 profit in FY 2020) The company reported a poor full year result with weaker earnings, revenues and control over costs. Full year 2021 results: Revenue: US$9.17m (down 27% from FY 2020). Net loss: US$461.0k (down 167% from profit in FY 2020). Over the last 3 years on average, earnings per share has fallen by 37% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Valuation Update With 7 Day Price Move • Jul 15
Investor sentiment improved over the past week After last week's 16% share price gain to US$4.22, the stock trades at a trailing P/E ratio of 25.6x. Average trailing P/E is 34x in the Machinery industry in the US. Total returns to shareholders of 13% over the past three years. Valuation Update With 7 Day Price Move • Jun 26
Investor sentiment improved over the past week After last week's 15% share price gain to US$4.04, the stock trades at a trailing P/E ratio of 24.6x. Average trailing P/E is 35x in the Machinery industry in the US. Total returns to shareholders of 2.3% over the past three years. Valuation Update With 7 Day Price Move • May 20
Investor sentiment improved over the past week After last week's 18% share price gain to US$3.74, the stock trades at a trailing P/E ratio of 22.7x. Average trailing P/E is 34x in the Machinery industry in the US. Total loss to shareholders of 6.9% over the past three years. Valuation Update With 7 Day Price Move • Mar 25
Investor sentiment deteriorated over the past week After last week's 15% share price decline to US$3.16, the stock trades at a trailing P/E ratio of 19.2x. Average trailing P/E is 35x in the Machinery industry in the US. Total loss to shareholders of 25% over the past three years. Valuation Update With 7 Day Price Move • Mar 04
Investor sentiment deteriorated over the past week After last week's 23% share price decline to US$3.71, the stock is trading at a trailing P/E ratio of 22.6x, down from the previous P/E ratio of 29.3x. This compares to an average P/E of 34x in the Machinery industry in the US. Total return to shareholders over the past three years is a loss of 1.9%. Is New 90 Day High Low • Feb 18
New 90-day high: US$5.55 The company is up 42% from its price of US$3.90 on 19 November 2020. The American market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 9.0% over the same period. Reported Earnings • Feb 12
Third quarter 2021 earnings released: EPS US$0.021 (vs US$0.08 in 3Q 2020) The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2021 results: Revenue: US$2.54m (down 29% from 3Q 2020). Net income: US$84.0k (down 74% from 3Q 2020). Profit margin: 3.3% (down from 8.9% in 3Q 2020). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • Feb 03
Investor sentiment deteriorated over the past week After last week's 19% share price decline to US$4.47, the stock is trading at a trailing P/E ratio of 19.8x, down from the previous P/E ratio of 24.4x. This compares to an average P/E of 31x in the Machinery industry in the US. Total returns to shareholders over the past three years are 25%. Is New 90 Day High Low • Jan 27
New 90-day high: US$5.50 The company is up 60% from its price of US$3.44 on 28 October 2020. The American market is up 17% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 20% over the same period. Upcoming Dividend • Oct 26
Upcoming Dividend of US$0.06 Per Share Will be paid on the 25th of November to those who are registered shareholders by the 2nd of November. The trailing yield of 10% is in the top quartile of American dividend payers (4.6%), and it is higher than industry peers (1.8%). Valuation Update With 7 Day Price Move • Oct 23
Market pulls back on stock over the past week After last week's 17% share price decline to US$3.69, the stock is trading at a trailing P/E ratio of 16.4x, down from the previous P/E ratio of 19.6x. This compares to an average P/E of 26x in the Machinery industry in the US. Total returns to shareholders over the past three years are 26%. Is New 90 Day High Low • Oct 17
New 90-day high: US$4.43 The company is up 76% from its price of US$2.51 on 17 July 2020. The American market is up 9.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Machinery industry, which is up 14% over the same period. Valuation Update With 7 Day Price Move • Oct 17
Market bids up stock over the past week After last week's 17% share price gain to US$4.43, the stock is trading at a trailing P/E ratio of 19.6x, up from the previous P/E ratio of 16.8x. This compares to an average P/E of 26x in the Machinery industry in the US. Total returns to shareholders over the past three years are 52%. Aankondiging • Oct 16
Highway Holdings Limited Announces Manufacturing Order for Video Gaming Consoles Highway Holdings Limited announced that the company has received an initial manufacturing order valued at approximately $1.5 million from Playmaji for an innovative gaming console designed to play new and legacy video games with premium quality and patent-protected modular gaming technology. The order is the first order received under an exclusive two-year contract to manufacture Playmaji’s new Polymega game consoles and accessories. The exclusive manufacturing agreement, if fully utilized during the two-year period, represents a value of not less than $8.8 million. Kohl noted that the manufacturing contract was the result of a cooperative spirit over a considerable time period, and an extensive prototype development program. As part of the exclusivity agreement, Highway Holdings was granted a two-year option to purchase up to 10% of the equity of Playmaji.