[] [Name of Entity The following is a list of all of this Company’s subsidiaries. However, only the following subsidiaries are, as of the June 30, 2015, active subsidiaries that conduct operations: Nissin Precision Metal Manufacturing Limited; Kayser Limited; Golden Bright Plastic Manufacturing Company Limited; Hi-Lite Camera Company Limited; Kayser Myanmar Manufacturing Company Ltd.; and Nissin Metal and Plastic (Shenzhen) Company] [I, Roland W. Kohl, certify that: 1. I have reviewed this annual report on Form 20-F of Highway Holdings Limited; 2. Based on my knowledge, this annual report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements] [I, Alan Chan, certify that: 1. 2. 3. 4. (a) (b) (c) (d) 1 5. (a) (b) Dated: June 30, 2015 Alan Chan Chief Financial Officer 2] [Certification by the Chief Executive Officer (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Dated: June 30, 2015 Roland W. Kohl Chief Executive Officer] [Certification by the Chief Financial Officer (2) The information contained in the Report fairly presents, in all material respects, the financial condition and results of operations of the Company. Dated: June 30, 2015 Alan Chan Chief Financial Officer]