Business Context and Reporting Period
Company: Highway Holdings Limited
Filing Type: Form 6-K (Report of Foreign Private Issuer)
Date: March 7, 2025
Reporting Period: Current report for the month of March 2025 regarding a change in independent registered public accounting firm.
Key Financial Metrics
This filing does not contain financial performance data. The document does not provide values for revenue, profit, cash flow, margins, debt, or liquidity.
Material Changes
- Change in Auditor: On March 7, 2025, the Company appointed Marcum Asia CPAs LLP as its new independent registered public accounting firm.
- Dismissal of Former Auditor: ARK Pro CPA & Co was dismissed as the independent auditor on December 24, 2024.
- Approval: The change was approved by the Board of Directors and the Audit Committee following careful consideration.
Guidance, Outlook, and Risks
- Audit History: ARK Pro CPA & Co's audit reports for fiscal years ended March 31, 2023, and March 31, 2024, were unqualified and did not contain adverse opinions, disclaimers, or modifications regarding uncertainty, scope, or accounting principles.
- Disagreements: There were no disagreements between the Company and ARK on accounting principles, practices, or audit scope during the fiscal years ended March 31, 2023 and 2024, or through December 23, 2024.
- Reportable Events: No "reportable events" occurred during the specified periods, except for material weaknesses previously reported by the Company in Item 15 of its Form 20-F filed on July 16, 2024.
- Consultations: The Company did not consult with Marcum Asia on accounting principles or matters of disagreement prior to their appointment.
Investor Verification Checklist
- Verify the specific nature of the "material weaknesses" disclosed in the Form 20-F filed on July 16, 2024.
- Review the letter from ARK Pro CPA & Co (Exhibit 99.1) to confirm their agreement with the statements in this filing.
- Confirm the transition timeline and any potential impact on the audit of the upcoming fiscal year ending March 31, 2025.