Requests trading of its shares be suspended as of close of trading July 25, 2024 BEIJING , July 25, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") and Ascendent Capital Partners ("Ascendent") today announced the completion of the merger (the "Merger") between Hollysys and entities affiliated with Ascendent, pursuant to the previously announced agreement and plan of... Read More

BEIJING , July 18, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it expects to complete its merger transaction with a buyer controlled by Ascendent Capital Partners as soon as July 25, 2024 . The parties have successfully obtained all necessary approvals and expect to satisfy (or obtain waiver of) all closing conditions by this anticipated closing... Read More

BEIJING , July 2, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it has been informed by Ascendent Capital Partners ("Ascendent") that a buyer controlled by Ascendent has obtained all the PRC approvals required to be obtained by the buyer to complete the merger transaction with the Company. The transaction will close upon satisfaction or waiver of... Read More

BEIJING , June 3, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced the appointment of Vocation HK CPA Limited ("Vocation") as its independent registered public accounting firm, effective May 28, 2024 . The appointment of Vocation was made after a careful and thorough evaluation process and has been approved by Hollysys' board and audit committee. Vocation... Read More

Expects to maintain majority of his holdings in the Company in anticipation of the going private transaction closing BEIJING , May 22, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") has been informed by its Chief Executive Officer, Dr. Changli Wang , that his recent sale of Company shares was made solely for his own personal financial planning needs. Dr. Wang has... Read More

First Nine Months of Fiscal Year 2024 Financial Highlights Total revenues were $597.1 million , an increase of 2.5% compared to the comparable prior year period. Gross margin was 31.0%, compared to 33.4% for the comparable prior year period. Non-GAAP gross margin was 31.2%, compared to 33.6% for the comparable prior year period. Net income attributable to Hollysys was $49.7 million , a decrease of 38.8% compared to the... Read More

First Half of Fiscal Year 2024 Financial Highlights Total revenues were $423.6 million , an increase of 2.1% compared to the comparable prior year period. Gross margin was 31.9%, compared to 36.1% for the comparable prior year period. Non-GAAP gross margin was 32.1%, compared to 36.3% for the comparable prior year period. Net income attributable to Hollysys was $45.8 million , a decrease of 34.3% compared to the comparable... Read More

BEIJING , Feb. 8, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that, at an extraordinary general meeting of shareholders ("EGM") held today, the Company's shareholders voted in favor of, among other things, the proposal to authorize and approve the agreement and plan of merger, dated as of December 11 , 2023 (the "Merger Agreement"), by and among the... Read More

Updated proxy to detail recent engagement with Dazheng BEIJING , Jan. 31, 2024 /PRNewswire/ -- The Board of Directors of Hollysys Automation Technologies Ltd. ("Hollysys" or the "Company") today issued a letter to shareholders reiterating its support for the proposed acquisition of the Company by a buyer controlled by... Read More

Special Committee concluded Dazheng proposal was not superior after rigorous negotiations Dazheng was unable to provide sufficient assurances around equity financing and last-minute introduction of yet another new member after multiple changes in its consortium composition raised further questions that could not be resolved Special Committee strongly disagrees with flawed ISS and Glass Lewis recommendations: a transparent... Read More

Board recommends shareholders to vote "FOR" merger agreement for acquisition by Ascendent at $26.50 /share BEIJING , Jan. 5, 2024 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it will hold an extraordinary general meeting (the "EGM") of shareholders on Thursday, February 8, 2024 at 10:00 a.m. Hong Kong time, to consider and vote on, among other things,... Read More

Company receives additional offers during "go-shop" period None of the offers received constitutes or would reasonably be expected to result in a Superior Proposal BEIJING , Dec. 27, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced the end of the "go-shop" period as provided for in the merger agreement with funds managed by Ascendent Capital Partners... Read More

Hollysys Board has unanimously approved Ascendent's all cash offer at 42% premium to the unaffected price as of 23 August 2023 Agreement marks culmination of formal sale process conducted by Special Committee of independent directors BEIJING , Dec. 11, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that it has reached an agreement to be acquired by... Read More

Hollysys intends to hold special meeting of shareholders in January 2024 Special Committee continues sale process in expedited manner BEIJING , Nov. 22, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced its intention to hold a special meeting of shareholders in the week commencing January 22, 2024 following the requests of certain shareholders to convene a... Read More

First Quarter of Fiscal Year 2024 Financial Highlights Total revenues were $199.9 million , an increase of 17.6% compared to the comparable prior year period. Gross margin was 34.6%, compared to 31.1% for the comparable prior year period. Non-GAAP gross margin was 34.8%, compared to 31.3% for the comparable prior year period. Net income attributable to Hollysys was $31.6 million , an increase of 47.9% compared to the... Read More

Board Special Committee receives several indications of interest from financial sponsors and strategic buyers Board to confirm plans for special meeting, pending outcome of November 21 court hearing on an injunction application against Ace Lead Profits and its Hollysys shares BEIJING , Oct. 30, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that the... Read More

Reminds Shareholders of Similar Fact Pattern in 2021 Fully Expects Board to Move Forward with Special Meeting After it Confirmed Receipt of Updated Material From Shareholders Provides Update on Engagement and Legal Due Diligence SINGAPORE & HONG KONG / Oct 24, 2023 / Business Wire / Buyer consortium (“the consortium”) led by Recco Control Technology Pte. Ltd. (“Recco Control Technology”) and Dazheng Group (Hong Kong)... Read More

Proposal on behalf of management team offers U.S. $25 per share Sale process continues as Special Committee engages other parties BEIJING , Oct. 24, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today announced that its special committee of independent directors (the "Special Committee") has received a non-binding proposal (the "Management Buyout Offer") from... Read More

Reiterates All-Cash Offer of US$25 Per Share Welcomes Formation of Special Committee to Lead Sale Process Looks Forward to Discussions and Due Diligence Process SINGAPORE & HONG KONG / Oct 05, 2023 / Business Wire / Buyer consortium (“the consortium”) led by Recco Control Technology Pte. Ltd. (“Recco Control Technology”) and Dazheng Group (Hong Kong) Investment Holdings Company Limited (“Dazheng Group”) today issued a... Read More

Forms special committee of independent directors to conduct process Will evaluate proposal from bidder group Deutsche Bank to solicit additional potential offers on behalf of the Company BEIJING , Oct. 2, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), today announced the formation of a special committee (the "Special Committee") of the board of directors of the... Read More

BEIJING , Sept. 5, 2023 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") announced that on August 23, 2023 , it received from certain shareholders of the Company, notices of intention (collectively, the "Notices of Intention") to request the board of directors of the Company (the "Board") to convene a special meeting of shareholders to consider certain proposed amendments to... Read More

Fiscal Year 2023 Financial Highlights Total rev enues were $777.4 million , an increase of 9.9% compared to the comparable prior year period. Unfavorable impact from depreciation of Renminbi against the U.S. dollar has adversely affected our revenues for fiscal year 2023. Gross margin was 32.9%, compared to 33.8% for the comparable prior year period. Non-GAAP gross margin was 33.0%, compared to 34.0% for the comparable prior... Read More

First Nine Months of Fiscal Year 2023 Financial Highlights Total revenues were $582.4 million , an increase of 10.9% compared to the comparable prior year period. Gross margin was 33.4%, compared to 33.9% for the comparable prior year period. Non-GAAP gross margin was 33.6%, compared to 34.1% for the comparable prior year period. Net income attributable to Hollysys was $81.2 million , an increase of 35.0% compared to the... Read More

First Half of Fiscal Year 2023 Financial Highlights Total revenues were $414.8 million , an increase of 12.2% compared to the comparable prior year period. Gross margin was 36.1%, compared to 35.3% for the comparable prior year period. Non-GAAP gross margin was 36.3%, compared to 35.4% for the comparable prior year period. Net income attributable to Hollysys was $69.6 million , an increase of 57.1% compared to the comparable... Read More

First Quarter of Fiscal Year 2023 Financial Highlights Total revenues were $170.0 million , an increase of 10.9% compared to the comparable prior year period. Gross margin was 31.1%, compared to 34.2% for the comparable prior year period. Non-GAAP gross margin was 31.3%, compared to 34.3% for the comparable prior year period. Net income attributable to Hollysys was $21.4 million , an increase of 50.1% compared to the... Read More

Fiscal Year 2022 Financial Highlights Total revenues were $707.5 million , an increase of 19.2% compared to the comparable prior year period. Gross margin was 33.8%, compared to 36.8% for the comparable prior year period. Non-GAAP gross margin was 34.0%, compared to 36.8% for the comparable prior year period. Net income attributable to Hollysys was $83.2 million , a decrease of 7.3% compared to the comparable prior year... Read More

First Nine months of Fiscal Year 2022 Financial Highlights Total revenues were $525.3 million , an increase of 20.9% compared to the comparable prior year period. Gross margin was 33.9%, compared to 36.4% for the comparable prior year period. Non-GAAP gross margin was 34.1%, compared to 36.4% for the comparable prior year period. Net income attributable to Hollysys was $60.2 million , a decrease of 11.2% compared to the... Read More

First Half of Fiscal Year 2022 Financial Highlights Total revenues were $369.6 million , an increase of 13.8% compared to the comparable prior year period. Gross margin was 35.3%, compared to 36.1% for the comparable prior year period. Non-GAAP gross margin was 35.4%, compared to 36.1% for the comparable prior year period. Net income attributable to Hollysys was $44.3 million , a decrease of 14.6% compared to the comparable... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (" Hollysys " or the " Company "), a leading provider of automation and control technologies and applications in China, today announced that the Board of Directors of the Company has declared an annual cash dividend of US$0.32 per ordinary share, par value US$0.001 per share (the " Ordinary Shares "), for the fiscal year ended June 30, 2021 to the holders of the Company's... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China , today made available the following open letter to investors from Dr. Changli Wang , the director of the board, CEO and CSO of the Company. Dear investors, It's a great honor that, after an eight-year absence, I have been invited by the Board to return as CEO... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China , today announced that effective as of January 1, 2022 , pursuant to the resolutions of the Board of Directors of the Company (the "Board"), Mr. Chit Nim ( Colin) Sung resigned from his positions as the director of the board and Chief Executive Officer of the... Read More

HollySys Automation Technologies Ltd. (NASDAQ: HOLI) ("HollySys" or the "Company"), a leading provider of automation and control technologies and applications in China , today provided an update on the litigation filed by Mr. Baiqing Shao and Ace Lead Profits Limited ("Ace Lead") against the Company in the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the "Court"). As previously disclosed, on... Read More

HollySys Automation Technologies Ltd. (NASDAQ: HOLI) ("HollySys" or the "Company"), a leading provider of automation and control technologies and applications in China , today announced that the Company's Board of Directors (the "Board") has received from Superior Emerald (Cayman) Limited, a company controlled by Ascendent Capital Partners, and Mr. Changli Wang, the founder of the Company who retired from the Company in 2013... Read More

HollySys Automation Technologies Ltd. (NASDAQ: HOLI) ("HollySys" or the "Company"), a leading provider of automation and control technologies and applications in China , today announced that the Company's Board of Directors (the "Board") is in the process of evaluating a non-binding offer from Superior Emerald (Cayman) Limited, a company controlled by Ascendent Capital Partners, and Mr. Changli Wang , the founder of the... Read More

The buyer consortium (the “Consortium”) consisting of Mr. Shao Baiqing, Ace Lead Profits Limited and CPE Funds Management Limited today announces the extension of the deadline by which shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company”) may submit consents to the Consortium’s proposed resolutions concerning its proposed acquisition of all outstanding ordinary shares of the Company not already... Read More

The buyer consortium (the “Consortium”) consisting of Mr. Shao Baiqing, Ace Lead Profits Limited and CPE Funds Management Limited is pleased to announce that leading independent proxy advisory firms, Glass, Lewis & Co. (“Glass Lewis”) and Institutional Shareholder Services Inc. (“ISS”) both recommend that shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company” or “Hollysys”) CONSENT with respect... Read More

HollySys Automation Technologies Ltd. (NASDAQ: HOLI) ("HollySys" or the "Company"), a leading provider of automation and control technologies and applications in China , provides an update to shareholders. The Company refutes the false claims put forth by a consortium comprised of Mr. Baiqing Shao , Ace Lead Profits Limited and CPE Fund Management Limited (the "Consortium") regarding the Company's past performance,... Read More

The buyer consortium (the “Consortium”) consisting of Mr. Shao Baiqing, Ace Lead Profits Limited, and CPE Funds Management Limited today issued a letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company” or “Hollysys”) with additional information regarding the Consortium’s proposed acquisition of the Company and the consent solicitation. The Consortium strongly believes that the proposed... Read More

The buyer consortium (the “Consortium”) consisting of Mr. Shao Baiqing, Ace Lead Profits Limited and CPE Funds Management Limited today issued a letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company” or “Hollysys”) regarding the Consortium’s proposed acquisition of the Company. The Consortium strongly believes that the proposed acquisition is the best and only option to shareholders to... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China , today announced its business update and revised outlook: Business Update "With the easing of the pandemic and the steady economic recovery in China , management of the Company has fully grasped the market challenges and opportunities. It has made... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), today responded to the consent solicitation materials filed by CPE Funds Management, Ace Lead Profits, and an individual investor with the following statement: "The Hollysys Board and management team are committed to acting in the best interest of shareholders and maximizing long-term value creation. The Company regularly engages with... Read More

The buyer consortium (the “Consortium”) consisting of CPE Funds Management Limited, Mr. Shao Baiqing, and Ace Lead Profits Limited today commenced a solicitation of consents from shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company” or “Hollysys”) regarding the Consortium’s proposed acquisition of the Company. The Consortium is mailing a letter to large beneficial-owner shareholders through... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company”) disclosed financial condition and results of operations for the quarter and the nine-month period ended March 31, 2021, together with its review and analysis of the comparable periods for fiscal year 2020. The Company intended to “highlight” selected financial metrics by making comparisons to the low base numbers for the first three months of 2020, when the... Read More

First Nine months of Fiscal Year 2021 Financial Highlights Total revenues were $434.7 million , an increase of 16.2% compared to the comparable prior year period. Non-GAAP gross margin was at 36.4%, compared to 35.6% for the comparable prior year period. Non-GAAP net income attributable to Hollysys was $71.7 million , a decrease of 7.9% compared to the comparable prior year period. Non-GAAP diluted EPS was $1.18 , a decrease... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") , a leading provider of automation and control technologies and applications in China, today announced that it will report its financial results for fiscal year 2021 third quarter on May 13, 2021 U.S. Eastern Time. The Company will host a conference call at 9:00 pm May 13, 2021 U.S. Eastern Time / 9:00 am May 14, 2021 Beijing Time, to discuss... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the “Company”) issued a press release (the “March 15 Press Release”) announcing the receipt of a notice from Hollysys Committee on Trust Interests (the “Committee”) that the Committee had commenced a legal action in the Hong Kong High Court against Mr. Shao Baiqing (“Mr. Shao”) and Ace Lead Profits Limited (“Ace Lead”, together with Mr. Shao, the “Claimant Shareholders”).... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") refers to a press release issued on March 14, 2021 (the "Press Release") concerning a purported "preliminary victory" by Shao Baiqing ("Mr. Shao") and Ace Lead Profits Limited ("Ace Lead") against the Company before the Commercial Division of the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the "Court"). The... Read More

The Board of Directors (the "Board") of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") refers to the announcement made by the Company on February 1, 2021 whereby the Board confirmed receipt of a revised unsolicited consortium proposal to acquire all the outstanding shares of Hollysys made by Shao Baiqing ("Mr. Shao"), Ace Lead Profits Limited ("Ace Lead") and CPE Funds Management Limited... Read More

On March 8, 2021, Justice Gerhard Wallbank of the Commercial Division of the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the “Court”) approved an order (the “Order”) recording a preliminary victory by Shao Baiqing (“Mr. Shao”) and Ace Lead Profits Limited (“Ace Lead”, together with Mr. Shao, the “Claimants”) in their lawsuit against Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (the... Read More

First Half of Fiscal Year 2021 Financial Highlights Total revenues were $324.8 million , an increase of 10.7% compared to the comparable prior year period. Non-GAAP gross margin was at 36.1%, compared to 36.9% for the comparable prior year period. Non-GAAP net income attributable to Hollysys was $53.0 million , a decrease of 17.1% compared to the comparable prior year period. Non-GAAP diluted EPS was $0.87 , a decrease of... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "C-ompany") , a leading provider of automation and control technologies and applications in China, today announced that it will report its financial results for fiscal year 2021 second quarter on March 4, 2021 U.S. Eastern Time. The Company will host a conference call at 8:00 pm March 4, 2021 U.S. Eastern Time / 9:00 am March 5, 2021 Beijing Time, to... Read More

Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company")'s Board of Directors (the "Board") has confirmed it received a revised unsolicited consortium proposal to acquire all the outstanding shares of Hollysys for $17.10 per share (the "Revised Proposal"). The Board, consistent with its fiduciary duty and in consultation with its independent financial and legal advisors, will carefully review and... Read More