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Consolidated Balance Sheets - USD ($)
$ in Thousands
Mar. 31, 2021
Mar. 31, 2020
Current assets:    
Cash and cash equivalents (note 4) $ 7,757 $ 8,827
Accounts receivable, net (note 5) 973 2,008
Inventories, net (note 6) 2,238 2,000
Prepaid expenses and other current assets (note 7) 513 388
Total current assets 11,481 13,223
Goodwill, net
Property, plant and equipment, net (note 8) 833 878
Operating lease right-of-use assets (note 11) 2,795 3,710
Long-term deposits 282 263
Long-term loan receivable 95 95
Investments in equity method investees (note 9)
TOTAL ASSETS 15,486 18,169
Current liabilities:    
Accounts payable 653 997
Operating lease liabilities, current (note 11) 821 782
Accrued expenses and other current liabilities (note 10) 2,347 2,294
Income tax payable 58 564
Dividend payable 85 351
Total current liabilities 3,964 4,988
Operating lease liabilities, non-current (note 11) 1,142 2,034
Deferred income taxes (note 3) 607 229
Total liabilities 5,713 7,251
Commitments and contingencies (note 12)
Shareholders’ equity:    
Preferred shares, $0.01 par value (Authorized: 20,000 shares; no shares issued and outstanding as of March 31, 2020 and 2021)
Common shares, $0.01 par value (Authorized: 20,000,000 shares; 3,971,825 shares as of March 31, 2020 and 4,026,825 shares as of March 31, 2021 issued and outstanding) 40 40
Additional paid-in capital 11,709 11,537
Accumulated deficit (2,041) (865)
Accumulated other comprehensive income (loss) 48 196
Total Highway Holdings shareholder’s equity 9,756 10,908
Non-controlling interests 17 10
Total Equity 9,773 10,918
TOTAL LIABILITIES AND EQUITY $ 15,486 $ 18,169