Highway Holdings Limited【HIHO】株式ニュース

Highway Holdings Completes Acquisition of 51% of Regent-Feinbau Adermann GmbHMarch 5, 2026 7:00 AM
PR Newswire (US)

HONG KONG, March 5, 2026 /PRNewswire/ -- Highway Holdings Limited (Nasdaq: HIHO, the "Company" or "Highway Holdings") today announced it has completed its previously announced planned acquisition of 51% of the outstanding shares of German-based Regent-Feinbau Adermann GmbH ("Regent-Feinbau") from LeMALe Beteiligungs-GmbH ("LeMALe" or "Seller") on February 28, 2026 for a total purchase price of €662,000. €612,000 of the purchase price was paid in cash, and the remaining €50,000 was paid by the issuance of 64,851 of the Company's common shares to LeMALe, calculated based on the February 27, 2028 closing price of the Company's common shares on the Nasdaq Capital Market. Pursuant to the purchase agreement between the Company and Seller, such shares of the Company may not be sold, assigned, pledged or otherwise transferred by LeMALe until after March 31, 2027. The Company expects the acquisition to open significant manufacturing growth opportunities serving customers in the automotive and aviation industries. The current CEO of Regent-Feinbau, Matthias Bauer, will continue as the Managing Director of Regent-Feinbau. Founded in 1949, Regent-Feinbau (https://regent-feinbau.de/) is a certified manufacturing specialist (IATF 16949, ISO 9001, ISO 14001) for precision sheet metal components and welded assemblies made of aluminum, steel, and copper. With decades of experience and vertically integrated capabilities, Regent-Feinbau delivers high-quality, scalable solutions for demanding applications - from laser-cut parts to fully assembled functional units. Regent-Feinbau's core competencies include: Laser cutting and bending (efficient, high-precision processing using CNC press brakes and automated systems); Forming technology (flexible production with extender presses and CNC-controlled bending for complex geometries); Component assembly (complete systems with integrated fastening and joining processes); and Advanced welding (including drawn arc, projection, spot, and robotic welding, ensuring strong, repeatable joints across a wide range of materials). Regent-Feinbau primarily serves OEMs directly, while also supporting Tier 1 suppliers with reliable, production-ready components and assemblies across the automotive, commercial vehicle, aerospace, and industrial sectors.Roland Kohl, chairman, president and chief executive officer of Highway Holdings, commented, "We are very happy to add Regent into our group of companies and expect Regent's CEO Matthias Bauer to contribute meaningfully as a new partner given his successful technical and entrepreneurial background. Matthias is young, energetic and has built excellent relationships with leading German car companies. Regent is already a Tier 1 supplier to the leading car maker in Germany and also supports many Tier 1 suppliers, who supply other German car companies. In addition, Regent directly supplies a leading European aircraft manufacturer and is establishing additional aerospace programs, including component supply for the aviation interior segment.""We had been trying very hard to find a suitable acquisition, and Regent was the most compelling fit over the near and long-term for our business and shareholders. The extensive due diligence process involved evaluating 10 potential acquisition targets over a 3 year time period. While this was a comprehensive and lengthy process, we are pleased with the outcome. Regent was a big exception – it has been profitable during the last 3 years with average annual sales of approximately US$2.7 million and a high potential for future growth.""We are confident that Regent, under the continued leadership of Mr. Bauer, will accelerate our company's strategic transition into a much more diversified manufacturer, while helping to build value for shareholders. The automotive and airplane industries provide a high potential for future growth. Covid and the tariffs reshuffled the worldwide economy and business is undergoing drastic changes – changes which initially severely hurt us but carry significant growth opportunities for a company of our size. We believe that the Regent acquisition is the first chance we have to pursue these growth opportunities, with likely additional growth catalysts to come for other potential opportunities we are working on.""Taken together, our acquisition of Regent will strengthen our business and add additional depth to our management team, which is important for future succession planning as we focus on improving growth, profitability and shareholder value."Matthias Bauer, Managing Director of Regent-Feinbau said, "Together with Highway Holdings, 2026 marks the starting point for building the next phase of Regent's growth. We are excited to join the Highway Holdings family and think it is the perfect fit. We were not looking to partner with anybody given the strength of Regent's operating business but the compelling fit with Highway Holdings and ability to drive Regent's growth made us reevaluate our options. With Highway Holdings, Regent immediately gets many compelling benefits, including an international footprint, even stronger supply chain and prestige of being a vital part of a Nasdaq-listed company.""Due to increasing tariffs and protectionist measures, automotive manufacturers are seeking international suppliers capable of local-to-local supply in their key markets. With Highway Holdings, Regent gains international manufacturing capabilities and a strong local-to-local footprint.""The presently depressed industrial situation in Germany, while challenging for many companies, also creates significant opportunities for Regent. Numerous suppliers with comparable product portfolios are under pressure and may exit the market. With Highway Holdings' support in Germany, China and potentially the United States in the future, Regent has an excellent opportunity to grow both in the short and long term.""The acquisition also strengthens Regent's well-utilized tooling and engineering operations, enabling additional new projects, cost advantages and faster industrialization. Furthermore, together with Highway Holdings, Regent significantly strengthens its ability to execute production takeovers and outsourcing projects, combining additional industrial capacity with proven operational expertise, thereby accelerating growth in the coming years. I am very enthusiastic about what lies ahead. I would like to thank everyone who worked tirelessly to make this transaction happen in such a short time, and I congratulate Highway Holdings on a job well done."About Highway Holdings LimitedHighway Holdings is an international manufacturer of a wide variety of quality parts and products for blue chip equipment manufacturers based primarily in Germany. Highway Holdings' administrative offices are located in Hong Kong and its manufacturing facilities are located in Yangon, Myanmar, and Shenzhen, China. For more information visit website www.highwayholdings.com.Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties, including but 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 Exchange Commission, including without limitation, the company's annual reports on Form 20-F.

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Original: Highway Holdings Completes Acquisition of 51% of Regent-Feinbau Adermann GmbH

Highway Holdings Reports Fiscal 2012 Fourth Quarter/ Year-End Results
Fri June 29, 2012 8:00 AM | about: HIHO HONG KONG, June 29, 2012 (GLOBE NEWSWIRE) -- Highway Holdings Limited (HIHO) today reported results for the fourth quarter and fiscal year ended March 31, 2012, reflecting a modest profit despite the impact of global economic factors on sales and certain one-time charges related to its transition to a Wholly Foreign Owned Entity (WFOE) registered company structure in China.

Net income for the fiscal fourth quarter was $92,000, or $0.02 per diluted share, compared with $789,000, or $0.21 per diluted share, a year earlier. Net sales for the same period were $5.9 million compared with $7.8 million a year earlier.

Net income for fiscal year 2012 was $184,000, or $0.05 per diluted share, compared with $1.65 million or $0.44 per diluted share, in fiscal 2011. Net sales for fiscal 2012 were $25.4 million compared with $31.1 million a year ago.

"Fiscal 2012 was a challenging period for the company due, in large part, to global issues that impacted our customers and net sales. This situation was directly affected by the inflationary environment in China -- particularly higher labor costs and the significant increase in operating costs. Fortunately our financial position remains strong and the company's established customers continue their long-term relationships. In order to further improve our operating efficiency, we are in the process of shifting some of our labor intensive work, which for economic reasons cannot be automated, to a lower-cost assembly supplier arrangement outside of China as a proactive initiative," said Roland Kohl, president and chief executive officer of Highway Holdings.

Gross profit as a percentage of net sales for fiscal 2012 was 20.2 percent compared with 21 percent a year earlier, due to high labor costs and the increased cost of operating in China following the reorganization to a WFOE registered company. Ongoing cost-savings initiatives and increased utilization of automation were not sufficient to offset significant increases in worker salaries throughout Southern China. As a result of lower net sales and decreased gross margins for fiscal 2012, gross profit was $5.1 million compared with $6.5 million in fiscal 2011.

Selling, general and administrative expenses for the fourth quarter increased slightly and remained essentially unchanged for the full year compared with the same periods a year ago, despite lower sales and an overall reduction in the number of employees dedicated to selling and administration services. SG&A expenses did not decrease proportionally to lower net sales, due to certain one-time and ongoing costs related to the company's WFOE reorganization. Selling, general and administrative expense as a percentage of net sales increased to 19.3 percent in fiscal 2012 from 15.5 percent in fiscal 2011.

Operating income for the 2012 fiscal fourth quarter was $178,000 compared with $775,000 in the same period a year earlier. For the full 2012 fiscal year, operating income was $230,000 compared with $1.7 million, due to reduced sales and increased operating costs in China.

The fluctuation of the Euro/U.S. dollar exchange rates have, in the past, resulted in significant currency exchange gains and losses. For fiscal 2012, the company realized a currency exchange gain of $126,000 compared with a currency exchange loss of $7,000 a year ago. The company does not undertake any currency hedging transactions. The company does, however, have agreements with certain of its European customers that limit the risk of currency fluctuations, and the company is increasingly denominating its European sales in U.S. dollars rather than Euros.

Kohl noted that the company's balance sheet remains strong with total current assets at March 31, 2012 of $14.5 million; working capital of $10.2 million; and long-term loans, net of the current portion, of $112,000. The company's current ratio was 3.38:1 at March 31, 2012 compared with 2.70 at March 31, 2011.

Kohl highlighted the company's cash position of $1.47 per diluted share and total shareholders' equity of $12 million at March 31, 2012 compared with $12.6 million a year earlier representing approximately $3.32 per diluted share.

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 located in Hong Kong, and its manufacturing facilities are located in Shenzhen in the People's Republic of China.

Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements which involve risks and uncertainties, including but 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 Exchange Commission, including without limitation, the company's annual reports on Form 20-F.

(Financial Tables Follow)

HIGHWAY HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Statement of Income
(Dollars in thousands, except per share data)

Three Months Ended Year Ended
March 31, March 31,
(Unaudited) (Audited)

2012 2011 2012 2011

Net sales $5,976 $7,862 $25,370 $31,147
Cost of sales 4,631 6,092 20,249 24,594
Gross profit 1,345 1,770 5,121 6,553
Selling, general and administrative expenses 1,167 995 4,891 4,827

Operating income 178 775 230 1,726

Non-operating items
Interest expenses (2) (17) (24) (57)
Exchange (loss) gain, net 49 62 126 (7)
Interest income 1 1 4 3
Other income (8) 14 34 86

Total non-operating income (expense) 40 60 140 25
- -
Income before income tax and non-controlling Interest 218 835 370 1,751
Income taxes credit (expense) (126) (46) (186) (123)
Net Income before non-controlling interests 92 789 184 1,628
Loss attributable to non-controlling Interests - - - 22
Net Income attributable to Highway Holdings Limited shareholders $92 $789 $184 $1,650

Net Income attributable to Highway Holdings Limited $0.02 $0.21 $0.05 $0.44
Basic $0.02 $0.21 $0.05 $0.44
Diluted

Weighted average number of shares
Basic 3,777,850 3,765,276 3,777,850 3,765,276
Diluted 3,788,302 3,777,696 3,788,302 3,776,696

HIGHWAY HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Balance Sheet
(In thousands, except per share data)

31-Mar 31-Mar
2012 2011
Current assets:
Cash and cash equivalents $5,575 $6,864
Restricted cash 643 643
Accounts receivable, net of doubtful accounts 3,724 4,797
Inventories 3,970 4,236
Amount due from an equity method investee 174 0
Prepaid expenses and other current assets 424 417
Total current assets 14,510 16,957

Property, plant and equipment, (net) 2,027 2,411
Deposit for purchase of property, plant and equipment 42 -
Investments in equity investees - 31
Total assets $16,579 $19,399

Current liabilities:
Accounts payable $2,547 $3,581
Short-term borrowings - 280
Long-term loans-current portion 262 253
Obligations under capital leases current portion 3 41
Accrual expenses and other liabilities 1,324 2,057
Income tax payable 153 71
Total current liabilities 4,289 6,283
Obligations under capital leases-net of current portion 0 3
Deferred income taxes 180 173
Long-term loans net of current portion 112 375
Total liabilities 4,581 6,834

Shareholders' equity:
Common shares, $0.01 par value 38 38
Additional paid-in capital 11,340 11,335
Retained earnings 634 1,206
Treasury shares, at cost 5,049 shares as of March 31, 2011 and 2012 (14) (14)
Total Highway Holdings Limited shareholders' equity 11,998 12,565
Non-controlling interest - -
Total Equity 11,998 12,565
Total liabilities and shareholders' equity $16,579 $19,399

CONTACT: Gary S. Maier
Maier & Company, Inc.
(310) 442-9852Source: Highway Holdings Limited 2012 GlobeNewswire, Inc.