HIGHWAY HOLDINGS REPORTS FISCAL FOURTH QUARTER AND FULL YEAR 2023 RESULTS

HONG KONG, July 13, 2023 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO) today reported results for the fiscal fourth quarter and fiscal year ended March 31, 2023, which reflect the adverse impact of the sudden lifting of COVID-19 restrictions in China and the lingering negative impact on the Company's business and sales. The Company noted financial results are not comparable with results from prior years, as ongoing business uncertainties required it to take multiple provision charges, while prior periods separately benefited from non-recurring subsidies.

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