Technology
HIGHWAY HOLDINGS REPORTS SECOND QUARTER FISCAL YEAR 2025 RESULTS
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2 years agoon
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60.1% Year Over Year Increase in Second Quarter Revenue117.8% Year Over Year Increase in Second Quarter Gross ProfitCash and Cash Equivalents of $1.28 Per Diluted Share
HONG KONG, Oct. 10, 2024 /PRNewswire/ — Highway Holdings Limited (Nasdaq: HIHO, “the Company” or “Highway Holdings”) today reported results for the second quarter of fiscal year 2025 and the six months ended September 30, 2024, with second quarter of fiscal year 2025 revenue growth of 60.1% and gross profit growth of 117.8% on a year over year basis.
Roland Kohl, chairman, president and chief executive officer of Highway Holdings, noted, “While the positive results reflect an improving environment at our customers, we still have a lot of ground to make up to return to our normalized pre-COVID business level. The rebound continues but has been slowed by the uncertain macro environment, following the fallout of COVID, as orders for customer products have been adversely impacted by the Russia/Ukraine war and the conflict in Mid-East. In addition, our business progress is not immediately reflected on a net income comparison, and we caution investors this is not an accurate measure, because we benefitted in the year ago period from the reversal of previously taken bad debt provisions. With that being said, we are encouraged with our progress and expect an improving business environment over the coming quarters will help our business now that we have stopped the bleeding and can focus on expanding revenue growth, profitability and free cash flow.”
Mr. Kohl concluded, “We are cautiously optimistic that we have come through the worst part of this low business cycle. Even with our existing products still experiencing below normal levels of demand, we are coming online shortly with the new motor project we previously announced. Production is expected to start in the fiscal third quarter of 2025 and should ramp up in the fiscal fourth quarter of 2025. As a result, if our core existing business remains stable or improves slightly, the positive impact of the additional new business will help drive a further improvement in results. Our company is financially very healthy with over $5.6 million in cash on hand and a net cash positive position. At the same time, as part of our business growth strategy, we are evaluating numerous possible ventures, which could substantially improve the Company’s future. We are fully committed to building value for the Company and all shareholders, as we continue to build on our track record of success over the long-term.”
Select Additional Financial Results:
Gross profit for the second quarter of fiscal year 2025 was $834,000 compared with $383,000 in the year ago period mainly due to the 60.1% increase in sales over the same period. Gross profit as a percentage of sales for the second quarter of fiscal year 2025 was 39.4 percent, compared to 29.0 percent in the year ago period. Gross profit for the first half of fiscal year 2025 was $1,495,000 compared with $760,000 in the year ago period. Gross profit as a percentage of sales for the first half of fiscal year 2025 was 37.4 percent compared with 28.5 percent in the year ago period.
Selling, general and administrative expenses for the second quarter of fiscal year 2025 increased to $724,000 from $272,000, primarily reflecting the above-noted bad debt provision reversal in the year ago period.
Net income for the second quarter of fiscal year 2025 reflects a currency exchange gain of $58,000 compared to a $14,000 gain in the year ago period mainly due to a weakening of the Kyat. The Company reported a currency exchange gain of $96,000 for the first half of fiscal year 2025, compared with a $31,000 gain in the year ago period.
The Company had interest income of approximately $58,000 for the second quarter of fiscal year 2025, and interest income of approximately $103,000 for the first half of fiscal year 2025 due to the increase in interest rates.
The Company’s balance sheet remains strong, with total assets of $11.0 million dollar and cash and cash equivalents in excess of $5.6 million, or approximately $1.28 per diluted share. The cash and cash equivalent amount exceeded all of its short- and long-term liabilities by approximately $1.4 million. Total shareholders’ equity at September 30, 2024, was $6.8 million, or $1.54 per diluted share.
About Highway Holdings Limited
Highway 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.
(Financial Tables Follow)
HIGHWAY HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Statement of Income
(Dollars in thousands, except per share data)
(Unaudited)
Three Months Ended
Six Months Ended
September 30,
September 30,
2024
2023
2024
2023
Net sales
$2,117
$1,322
$3,996
$2,669
Cost of sales
1,283
939
2,501
1,909
Gross profit
834
383
1,495
760
Selling, general and administrative expenses
724
272
1,382
1,049
Operating income/(loss)
110
111
113
(289)
Non-operating items
Exchange gain /(loss), net
58
14
96
31
Interest income
58
53
103
93
Gain/(Loss) on disposal of assets
–
13
–
13
Other income/(expenses)
5
6
12
6
Total non-operating income/ (expenses)
121
86
211
143
Net income before income tax and non-controlling interests
231
197
324
(146)
Income taxes
0
3
0
6
Net income before non-controlling interests
231
200
324
(140)
Less: net gain attributable to non-controlling interests
0
(13)
(5)
(15)
Net income/(loss) attributable to Highway
Holdings Limited’s shareholders
231
213
329
(125)
Net Gain/ (loss) per share – Basic
$0.05
$0.05
$0.08
$(0.03)
Net Gain/ (loss) per share – Diluted
$0.05
$0.05
$0.08
$(0.03)
Weighted average number of shares outstanding
Basic
4,402
4,219
4,379
4,345
Diluted
4,402
4,235
4,379
4,345
HIGHWAY HOLDINGS LIMITED AND SUBSIDIARIES
Consolidated Balance Sheet
(Dollars in thousands, except per share data)
(unaudited)
Sept 30,
(audited)
Mar 31,
2024
2024
Current assets:
Cash and cash equivalents
$5,614
$6,601
Accounts receivable, net of doubtful accounts
1,982
1,253
Inventories
1,785
1,566
Prepaid expenses and other current assets
156
226
Total current assets
9,537
9,646
Property, plant and equipment, (net)
64
–
Operating lease right-of-use assets
1,142
1,375
Long-term deposits
206
202
Long-term loan receivable
95
95
Investments in equity method investees
–
–
Total assets
$11,044
$11,318
Current liabilities:
Accounts payable
$1,021
$935
Operating lease liabilities, current
621
588
Other liabilities and accrued expenses
1,559
1,789
Income tax payable
484
480
Dividend payable
45
45
Total current liabilities
3,730
3,837
Long term liabilities :
Operating lease liabilities, non-current
507
803
Long terms accrued expenses
40
40
Total liabilities
4,277
4,680
Shareholders’ equity:
Preferred shares, $0.01 par value
–
–
Common shares, $0.01 par value
44
44
Additional paid-in capital
12,159
12,117
Accumulated deficit
(4,908)
(5,015)
Accumulated other comprehensive income/(loss)
(516)
(501)
Non-controlling interest
(12)
(7)
Total shareholders’ equity
6,767
6,638
Total liabilities and shareholders’ equity
$11,044
$11,318
View original content:https://www.prnewswire.com/news-releases/highway-holdings-reports-second-quarter-fiscal-year-2025-results-302273357.html
SOURCE Highway Holdings Limited
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Global AI Data Center Market to Reach USD 84.52 Billion by 2032, Growing at a CAGR of 25.8% – Report by Maximize Market Research
Published
29 minutes agoon
November 5, 2026By
PUNE, India, Nov. 5, 2026 /PRNewswire/ — According to Maximize Market Research, the Global AI Data Center Market was valued at USD 16.95 billion in 2025 and is projected to reach USD 84.52 billion by 2032, growing at a CAGR of 25.8% from 2026 to 2032.
Global AI Data Center Market Size & Forecast
Market Size (Base Year 2025) : USD 16.95 Bn.
Forecast Market Size (2032) : USD 84.52 Bn.
CAGR (2026-2032) : 25.8%
Base Year : 2025
Forecast Period : 2026-2032
Historical Period : 2020-2025
Get Full PDF Sample Copy of Report: (Including Full TOC, List of Tables & Figures, Chart) @ https://www.maximizemarketresearch.com/request-sample/327467/
Global AI Data Center Market Overview & Industry Outlook
The Global AI Data Center Market is growing due to increasing demand for artificial intelligence computing infrastructure, generative AI applications, machine learning, and large language models. Rising investments by hyperscale cloud providers and AI companies are supporting the development of specialized data centers capable of handling high-density computing workloads. Increasing requirements for AI training and inference are driving demand for AI-optimized IT infrastructure, high-performance networking, power systems, and advanced cooling technologies.
Additionally, rising rack power density and increasing electricity requirements are encouraging investments in direct-to-chip liquid cooling, immersion cooling, power distribution, and energy management solutions. The expansion of hyperscale campuses, colocation facilities, and neocloud or GPU-as-a-Service providers is creating new opportunities across the global AI data center industry. Growing sovereign AI initiatives and investments in regional computing infrastructure are further supporting market expansion through 2032.
Global AI Data Center Market Trends and Key Highlights:
The Global AI Data Center Market is witnessing rising demand for AI-optimized infrastructure, hyperscale facilities, liquid cooling technologies, and high-performance networking. Growing investments in AI computing capacity, sovereign AI programmes, and advanced power infrastructure are supporting market expansion. Increasing adoption of inference workloads and high-density computing is further driving industry growth.
Global AI Data Center Market Size in 2025: USD 16.95 Billion
Projected Global AI Data Center Market Size by 2032: USD 84.52 Billion
Global AI Data Center Market Growth Rate (2026–2032): 25.8% CAGR
Projected AI Data Center Market Revenue Expansion by 2032: USD 67.57 Billion
Major AI Data Center Components: Hardware, Software, and Services
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Emerging AI Data Center Trends: Generative AI, Liquid Cooling, Sovereign AI, Gigawatt Campuses, and Advanced Networking
Hardware Segment Represents the Largest Component of the Global AI Data Center Market in 2025
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Get Insightful Data on Regions, Market Segments, Customer Landscape, and Top Companies (Charts, Tables, Figures and More) https://www.maximizemarketresearch.com/request-sample/327467/
Hyperscale Segment Dominates the Global AI Data Center Market in 2025
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North America Represents a Leading Market for the Global AI Data Center Industry During 2026–2032
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Immediate Delivery Available | Buy this Research Report (Insights, Charts, Tables, Figures and More) https://www.maximizemarketresearch.com/checkout/327467/
Key Players:
Microsoft CorporationAmazon Web ServicesAlphabet (Google Cloud)Meta PlatformsOracle CorporationAlibaba CloudTencent CloudHuawei TechnologiesEquinixDigital RealtyNTT DATAVantage Data CentersSTACK InfrastructureQTS Data CentersCyrusOneAligned Data CentersCrusoeRelated DigitalSwitchIron Mountain Data CentersAirTrunkAdaniConneXYotta Data ServicesCtrlS DatacentersKhazna Data Centers (G42)HUMAINCoreWeaveNebius GroupLambdaNVIDIA CorporationArista NetworksCisco SystemsBroadcomDell TechnologiesHewlett Packard EnterpriseSuper Micro ComputerSchneider ElectricVertiv HoldingsEaton CorporationABB LtdSiemens AGLegrandDelta ElectronicsGE Vernova
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MMR Analyst Perspective – Global AI Data Center Market
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About Maximize Market Research – Global AI Data Center Market
Maximize Market Research is a global market research and consulting firm providing insights across technology, IT infrastructure, electronics, energy, and industrial sectors. Its Global AI Data Center Market research covers AI-optimized hardware, software, services, data center types, AI workloads, cooling technologies, power capacity, end users, regional demand, competitive strategies, and recent industry developments. The report helps businesses understand AI infrastructure investments, hyperscale data center expansion, power and cooling requirements, sovereign AI initiatives, and emerging market opportunities through 2032.
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Contact:
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MAXIMIZE MARKET RESEARCH PVT. LTD.
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OID 2026: Advancing Technology Partnerships to Power the Next-Gen Industrial City
Published
29 minutes agoon
November 5, 2026By
HO CHI MINH CITY, Vietnam, Nov. 5, 2026 /PRNewswire/ — Open Innovation Day 2026 (OID 2026), themed “Power the Next-Gen Industrial City,” took place in Ho Chi Minh City, bringing together policymakers, businesses, investors and technology partners from Viet Nam and abroad. Spanning AI infrastructure, green energy and the low-altitude economy, the event focused on the conditions needed to turn technological potential into industrial capacity and real-world market opportunities.
OID 2026 kicked off the Autumn Economic Forum 2026 (AEF 2026). Led by SoiHub – Open Innovation Hub, it was jointly organized with the Open Innovation and Technopreneur Institute (OITI); the National Academy for Advanced Technology and Innovation (NACENTECH) under the Ministry of Science and Technology of Viet Nam; Saigon Telecommunication & Technologies Corporation (SAIGONTEL); and the Viet Nam Centre for the Fourth Industrial Revolution in Ho Chi Minh City (HCMC C4IR), together with other co-organizers and partners.
From Policy Direction to Technological Capabilities
Speaking at the event, Mr. Truong Minh Huy Vu, Vice Chairman of the Ho Chi Minh City People’s Committee, said the city is laying the groundwork for next-generation industries, from spatial planning for high-tech industry and energy infrastructure to innovation support mechanisms. Notably, the city has rolled out policies to bridge the gap between research and commercialization, including a VND 500 billion venture capital fund. He noted that developing next-generation industries requires not only infrastructure investment but also an ecosystem capable of bringing ideas and technologies to market.
At the national level, Mr. Nguyen Khac Lich, Director General of the Department of Digital Technology and Artificial Intelligence, under the Ministry of Science and Technology of Viet Nam, stressed the need to strengthen Viet Nam’s capacity to master strategic technologies such as AI, semiconductors and unmanned aerial vehicles (UAVs). He said Viet Nam needs to deepen its involvement in research, design and manufacturing while developing regulatory sandboxes to validate new technologies and support their progressive commercialization.
OID 2026 Highlights: Strategic Partnerships Geared Toward Real-World Deployment
Ms. Bui Thanh Hang, Director of SoiHub and Head of the OID 2026 Organizing Committee, said SoiHub has connected and co-developed 50 domestic and international technologies, received 15 technology orders from the market and established 20 strategic cooperation agreements. At OID 2026, partnerships with MobiFone, MOBY Robotics, TADI Global, NACENTECH and CITARES further expanded SoiHub’s network across smart cities, deep-sea robotics, technology transfer and technical workforce development. According to Ms. Hang, these results show that open innovation can deliver tangible value when research and technology are directly linked to the needs of businesses and the market.
AI Infrastructure: Competitiveness Goes Beyond Technology
The morning session, “Foundations of Next-Generation Industry in the AI Era,” examined the factors that will determine Viet Nam’s ability to attract investment in AI infrastructure. Mr. Samuel Ang, Senior Advisor to the Asian Development Bank (ADB), highlighted a shift in site selection criteria for AI data centers: power availability and grid capacity are becoming the top priorities, ahead of location and cost. He said countries that align their digital infrastructure ambitions with energy planning and grid modernization will be better positioned to attract international capital.
Discussions further addressed requirements for data security, computing capacity, clean energy and storage systems. On the workforce front, Ms. Sinwon Park, Director of the International Labour Organization (ILO) Country Office for Viet Nam, discussed AI’s impact on jobs and the need to upskill workers, underscoring that industrial development in the AI era demands coordinated preparation in both infrastructure and human capital.
Low-Altitude Economy: From Technology Testing to Market Development
The afternoon session, “Low-Altitude Economy – Creating New Engines of Growth,” focused on what it takes to scale UAVs and autonomous systems from standalone applications to large-scale industrial development. Drawing on experience from test sites in Japan and the United States, Mr. Joe Felter, CEO of Pickaxe Technologies, emphasized: “Start with the use case, not the equipment.” He said Viet Nam needs to develop a network of test sites integrated with research, training, manufacturing and operational standards, rather than invest in standalone testing facilities.
During the panel discussion, representatives from Viettel High Tech, the Viet Nam Aerospace Association (VASA), SoiHub and EHang further explored commercial viability, regulatory sandboxes and supply chain development. Mr. Bui Trung Hieu, representing SoiHub, raised a pivotal question: once a pilot succeeds, who will be the next customer? The question underscores that building a low-altitude economy requires not only technological capability but also a sufficiently large market and scalable business models.
From the partnership commitments announced to the challenges surrounding AI infrastructure, energy and autonomous technologies, OID 2026 pointed to a shared approach: next-generation industrial development must start from market demand, be underpinned by enabling infrastructure and policies, and involve meaningful participation from businesses, research institutions and investors.
PR Newswire is the official media partner of Open Innovation Day 2026.
Event information: https://oid.openinnovationhub.vn/
SoiHub Organizing Committee Representative: Ms. Trinh Thi Lan Huong, Email: huong.trinh@soihub.vn
Open Innovation and Technopreneur Institute (OITI) Organizing Committee Representative: Ms. Hoang Ngoc Mai, Email: mai.hoang@oiti.vn
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SOURCE The Open Innovation and Technology Entrepreneurship Institute
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CORONATION SECURITIES RECOGNISED AS FASTEST GROWING DIGITAL BROKERAGE PLATFORM IN NIGERIA AT THE GLOBAL BRAND AWARDS 2026
Published
29 minutes agoon
November 5, 2026By
LONDON, Nov. 5, 2026 /PRNewswire/ — Coronation Securities Limited has been named ‘Fastest Growing Digital Brokerage Platform – Nigeria’ at the Global Brand Awards 2026, organised by Global Brands Magazine.
The Global Brand Awards recognise organisations that have shown consistent performance, innovation and clear results in their industries. Coronation Securities Limited was recognised for the progress it has made in digital brokerage. It brings its market expertise and technology together to offer investment products that meet the changing needs of investors.
The company has built a strong position in Nigeria’s financial services sector by making investing accessible, running a disciplined operation and staying close to its investors. Its expanding digital offering and client-focused approach are helping more people take part in the capital market and are contributing to the growth of Nigeria’s investment landscape.
Commenting on the recognition, Jay Reddy, CEO of Global Brands Magazine, said:
“Coronation Securities Limited is part of a wider move towards investing that is more accessible and driven by technology. Its progress in digital brokerage shows how innovation can bring more people into the market and give investors in Nigeria a better experience.”
Responding to the award, the CEO of Coronation Securities Limited, Mr. Jibola Odedina, stated:
“This recognition reflects Coronation Securities Limited’s continued commitment to building a digital brokerage experience that investors can trust and access with ease. As the way people invest changes, we remain focused on offering technology-enabled solutions that help clients take part in the capital markets with confidence and build lasting wealth over the long term. Being recognised alongside leading global institutions strengthens our ambition to deliver financial solutions of the highest standard, widen access to investment and support market development in Nigeria.”
ABOUT CORONATION SECURITIES LIMITED
Coronation Securities Limited is a securities trading and stockbroking firm that has served all segments of the investing public since 1992. Over the years, it has advised on some of the most significant transactions in the Nigerian capital market and is known as a trusted and experienced partner in financial services.
Its offerings include Equities Brokerage, with both full-service and self-service accounts supported by online digital trading platforms and securities lending services. In Fixed Income, it offers access to a wide range of sovereign and corporate debt securities, as well as mutual funds, to meet different investment needs.
Its Research division provides detailed market research, investment portfolio analytics and tailored investment advisory services, giving clients the information they need to make informed decisions. Its Advisory services cover equity capital listings, debt capital listings and capital raising, supporting businesses as they grow and expand.
Coronation Securities is committed to high standards, drawing on its market expertise and innovative solutions to deliver real value to its clients.
ABOUT GLOBAL BRANDS MAGAZINE
Global Brands Magazine (GBM) is a UK-based publication offering independent insights, analysis and recognition of brands that are shaping industries around the world. Through its editorial platform and annual awards programme, GBM assesses organisations on their performance, innovation, relevance and long-term impact across global markets.
The publication reaches more than 8 million readers a year, records over 10 million page views and has a growing international audience across digital and social platforms.
ABOUT THE GLOBAL BRAND AWARDS
The Global Brand Awards, organised by Global Brands Magazine (GBM), recognise outstanding organisations across a wide range of industries and international markets. Winners are selected through GBM’s research and evaluation process, which looks at performance, innovation, customer experience and consistency in their respective fields.
The 14th Global Brand Awards ceremony took place at Address Sky View, Dubai, on 2 October 2026. Organisations represented included Emirates NBD, ADNOC Distribution, Saudi Global Ports, HP Computing and Printing Middle East and Sobha Realty, alongside businesses from other international markets.
Further information is available on the Global Brand Awards winners page. Organisations interested in future editions can submit nominations through the Global Brand Awards nomination form.
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CORONATION SECURITIES RECOGNISED AS FASTEST GROWING DIGITAL BROKERAGE PLATFORM IN NIGERIA AT THE GLOBAL BRAND AWARDS 2026
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