6-K
HIGHWAY HOLDINGS LTD (HIHO)
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 6-K
REPORT OF FOREIGN PRIVATE ISSUER
PURSUANT TO RULE 13a-16 OR 15d-16 OF
THE SECURITIES EXCHANGE ACT OF 1934
For the month of June 2020
Commission File Number 001-38490
HIGHWAY HOLDINGS LIMITED___
(Translation of Registrant's Name Into English)
Suite 1801, Level 18
Landmark North
39 Lung Sum Avenue
Sheung Shui
______New Territories, Hong Kong________
(Address of Principal Executive Offices)
Indicate by check mark whether the registrant files or will file annual reports under cover of Form 20-F or Form 40-F. Form 20-F X Form 40-F ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(1): ___
Indicate by check mark if the registrant is submitting the Form 6-K in paper as permitted by Regulation S-T Rule 101(b)(7): ___
Attached to this Report on Form 6-K is the press release issued by the registrant on July 2, 2020.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
| HIGHWAY HOLDINGS LIMITED | ||
|---|---|---|
| Date: July 2, 2020 | By | /s/ ROLAND W. KOHL |
| Roland W. Kohl | ||
| Chief Executive Officer |
Exhibit 99.1
NEWS RELEASE
CONTACT:
Gary S. Maier
(310) 471-1288
HIGHWAY HOLDINGS ANNOUNCES TIMINGOF FISCAL 2020 REPORTING
AND ANNUAL MEETING OF SHAREHOLDERS
-Provides Selected Preliminary UnauditedResults for the Fourth Quarter and Fiscal Year-
HONG KONG – July 2, 2020-- Highway Holdings Limited (Nasdaq:HIHO) today announced it expects to report results for its fourth quarter and fiscal year ended March 31, 2020 and to file the company’s Annual Report on Form 20-F by no later than July 31, 2020. The Form 20-F filing period complies with reporting deadlines of the Securities and Exchange Commission, although it will be delayed compared with the company’s accelerated historical reporting timeline. The company also announced it currently expects that its annual meeting of shareholders, which is usually held in August or September in Los Angeles, California, will be held in early October 2020
.
The filing of the Form 20-F and the date of the annual meeting of shareholders are both later than in previous years due to the impact of COVID-19. The global pandemic has created unique challenges this fiscal year, particularly on the year-end audit of the company’s operations in China and Myanmar and the related impact of restrictions on travel to and from Hong Kong and China imposed as a result of COVID-19.
The company today also announced selected preliminary unaudited financial results for its fourth quarter and fiscal year ended March 31, 2020. Notwithstanding the impact of COVID-19 on the company’s operations during the fiscal fourth quarter, net income for this period is expected to be between $380,000 and $580,000 compared with a net loss of $186,000 a year ago. Net income for the fiscal year ended March 31, 2020 is expected to be between $500,000 and $700,000 compared with a net loss of $630,000 a year earlier. Net sales for the fourth quarter and fiscal year ended March 31, 2020 are expected to be approximately $2.9 million and $12.5 million, respectively, compared with $3.8 million and $14.3 million, respectively, a year ago.
About Highway Holdings
Highway Holdings produces a wide variety of high-quality products for blue chip original
equipment manufacturers -- from simple parts and components to sub-assemblies and finished products. Highway Holdings’ administrative offices are in Hong Kong, and its manufacturing facilities are in Shenzhen in the People’s Republic of China and in Yangon in Myanmar.
Except for the historical information containedherein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties, includingbut not limited to economic, competitive, governmental, political and technological factors affecting the company's revenues, operations,markets, products and prices, and other factors discussed in the company’s various filings with the Securities and ExchangeCommission, including without limitation, the company’s annual reports on Form 20-F.