Highway Holdings shares surge 22.77% intraday after signing letter of intent to acquire 51% of Regent-Feinbau Adermann GmbH for precision sheet metal/welding tech and Chinese market expansion.

Highway Holdings surged 22.77% intraday trading, driven by the company's announcement of a planned acquisition of 51% of Regent-Feinbau Adermann GmbH, aiming to gain expertise in precision sheet metal and welded components and expand its presence in the Chinese automotive market. The company holds approximately $5.3 million in cash and equivalents with minimal debt, supporting the acquisition and future growth.