骇维控股2022年度报告

UnitedStates SECURITIESANDEXCHANGECOMMISSION Washington,D.C.20549 FORM20-F ☐REGISTRATIONSTATEMENTPURSUANTTOSECTION12(b)or(g)OFTHESECURITIESEXCHANGEACTOF1934 or ☒ANNUALREPORTPURSUANTTOSECTION13or15(d)OFTHESECURITIESEXCHANGEACTOF1934 ForthefiscalyearendedMarch31,2023. ☐TRANSITIONREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Forthetransitionperiodfromto. ☐SHELLCOMPANYREPORTPURSUANTTOSECTION13OR15(d)OFTHESECURITIESEXCHANGEACTOF1934 Commissionfilenumber001-38490 HIGHWAYHOLDINGSLIMITED (ExactnameofRegistrantasspecifiedinitscharter) N/A (TranslationofRegistrant’snameintoEnglish) BritishVirginIslands (Jurisdictionofincorporationororganization) Suite1801,Level18,LandmarkNorth39LungSumAvenueSheungShui NewTerritories,HongKong(Addressofprincipalexecutiveoffices) RolandKohlChiefExecutiveOfficer Suite1801,Level18,LandmarkNorth39LungSumAvenue SheungShui NewTerritories,HongKongtelephone:(852)2344-4248 fax:(852)2343-4976 roland.kohl@highwayholdings.com (Name,Telephone,E-mailand/orFacsimilenumberandAddressofCompanyContactPerson)SecuritiesregisteredortoberegisteredpursuanttoSection12(b)oftheAct: TitleofeachclassTradingSymbol(s) Nameofeachexchangeonwhichregistered CommonShares,$0.01parvaluepershareHIHONASDAQCapitalMarket PreferredSharePurchaseRightsN/ANASDAQCapitalMarket SecuritiesregisteredortoberegisteredpursuanttoSection12(g)oftheAct:None SecuritiesforwhichthereisareportingobligationpursuanttoSection15(d)oftheAct:None Indicatethenumberofoutstandingsharesofeachoftheissuer’sclassesofcapitalorcommonstockasofthecloseoftheperiodcoveredbytheannualreport:4,086,825CommonShareswereoutstandingasofMarch31,2023. Indicatebycheckmarkiftheregistrantisawell-knownseasonedissuer,asdefinedinRule405oftheSecuritiesAct.Yes☐No☒ Ifthisreportisanannualortransitionreport,indicatebycheckmarkiftheregistrantisnotrequiredtofilereportspursuanttoSection13or15(d)oftheSecuritiesExchangeActof1934.Yes☐No☒ Indicatebycheckmarkwhethertheregistrant(1)hasfiledallreportsrequiredtobefiledbySection13or15(d)oftheSecuritiesExchangeActof1934duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtofilesuchreports),and(2)hasbeensubjecttosuchfilingrequirementsforthepast90days.Yes☒No☐ IndicatebycheckmarkwhethertheregistranthassubmittedelectronicallyeveryInteractiveDataFilerequiredtobesubmittedpursuanttoRule405ofRegulationS-T(§232.405ofthischapter)duringthepreceding12months(orforsuchshorterperiodthattheregistrantwasrequiredtosubmitsuchfiles).Yes ☒No☐ Indicatebycheckmarkwhethertheregistrantisalargeacceleratedfiler,anacceleratedfiler,anon-acceleratedfiler,oranemerginggrowthcompany.Seedefinitionoflargeacceleratedfiler,”“acceleratedfiler,”and“emerginggrowthcompany”inRule12b-2oftheExchangeAct: Largeacceleratedfiler☐Acceleratedfiler☐Non-acceleratedfiler☒Emerginggrowthcompany☐ IfanemerginggrowthcompanythatpreparesitsfinancialstatementsinaccordancewithU.S.GAAP,indicatebycheckmarkiftheregistranthaselectednottousetheextendedtransitionperiodforcomplyingwithanyneworrevisedfinancialaccountingstandardsprovidedpursuanttoSection13(a)oftheExchangeAct.☐ Indicatebycheckmarkwhethertheregistranthasfiledareportonandattestationtoitsmanagement’sassessmentoftheeffectivenessofitsinternalcontroloverfinancialreportingunderSection404(b)oftheSarbanes-OxleyAct(15U.S.C.7262(b))bytheregisteredpublicaccountingfirmthatpreparedorissueditsauditreport.☐ IfsecuritiesareregisteredpursuanttoSection12(b)oftheAct,indicatebycheckmarkwhetherthefinancialstatementsoftheregistrantincludedinthefilingreflectthecorrectionofanerrortopreviouslyissuedfinancialstatements.☐ Indicatebycheckmarkwhetheranyofthoseerrorcorrectionsarerestatementsthatrequiredarecoveryanalysisofincentive-basedcompensationreceivedbyanyoftheregistrant’sexecutiveofficersduringtherelevantrecoveryperiodpursuantto§240.10D-1(b).☐ Indicatebycheckmarkwhichbasisofaccountingtheregistrationhasusedtopreparethefinancialstatementsincludedinthisfiling: U.S.GAAP☒InternationalFinancialReportingStandardsasissuedbytheInternationalAccountingStandardsBoard☐ Other☐ If“Other”hasbeencheckedinresponsetothepreviousquestion,indicatebycheckmarkwhichfinancialstatementitemtheregistranthaselectedtofollow:☐Item17☐Item18☐ Ifthisisanannualreport,indicatebycheckmarkwhethertheregistrantisashellcompany(asdefinedinRule12b-2oftheExchangeAct).Yes☐No☒ TABLEOFCONTENTS Page PARTI 1 Item1. IdentityofDirectors,SeniorManagementandAdvisers 1 Item2. OfferStatisticsandExpectedTimetable 1 Item3. KeyInformation 1 Item4. InformationontheCompany 10 Item4.A. UnresolvedStaffComments 21 Item5. OperatingandFinancialReviewandProspects 21 Item6. Directors,SeniorManagementandEmployees 29 Item7. MajorShareholdersandRelatedPartyTransactions 33 Item8. FinancialInformation 34 Item9. TheOfferandListing 34 Item10. AdditionalInformation 35 Item11. QuantitativeandQualitativeDisclosuresAboutMarketRisk 41 Item12. DescriptionofSecuritiesOtherThanEquitySecurities 41 PARTII 42 Item13. Defaults,DividendArrearagesandDelinquencies 42 Item14. MaterialModificationtotheRightsofSecu