HIGHWAY HOLDINGS RESTATES UNAUDITED FINANCIAL STATEMENTS FOR 3 AND 9 MONTHS ENDED DECEMBER 31, 2023 RESULTING IN HIGHER NET INCOME FOR BOTH PERIODS

HONG KONG, July 12, 2024 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO) (the "Company" or "Highway Holdings") today announced it has restated its unaudited quarterly financial statements for the three and nine months ended December 31, 2023, which were released in an earnings press release on February 1, 2024. The decision to restate the financial statements was approved on July 12, 2024 by Highway Holdings' Board of Directors upon the recommendation of the Audit Committee of the Board of Directors and after consultation with management.

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