STOCK TITAN
  1. Home
  2. News
  3. HOLI

Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) - HOLI STOCK NEWS

Welcome to our dedicated page for Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) news (Ticker: HOLI), a resource for investors and traders seeking the latest updates and insights on Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) stock.

Hollysys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) (NASDAQ: HOLI), established in 1993, is a prominent provider of automation and control technologies in China, with additional operations across Southeast Asia and the Middle East. Hollysys specializes in delivering advanced automation solutions that enhance operational safety, reliability, and efficiency across diverse industries, including industrial, railway, subway, and nuclear sectors.

Hollysys offers an extensive range of proprietary technologies such as Distributed Control Systems (DCS), Programmable Logic Controllers (PLC), Railway Management Information Systems (RMIS), and Train Control Centers (TCC). Their product suite also includes Supervisory Control and Data Acquisition (SCADA) systems and solutions tailored for nuclear power automation and control. These integrated solutions have cemented Hollysys' reputation, with over 20,000 completed projects for more than 5,000 customers.

In recent developments, Hollysys has been involved in significant projects and partnerships. They played a critical role in the grid-connected power generation project of a 300-megawatt compressed air energy storage station and successfully executed intelligent manufacturing projects in the food and pharmaceutical sectors. Hollysys also continues to support critical rail projects, including the Xiangyang-Jingmen high-speed railway and significant urban rail transit initiatives.

Financially, Hollysys has shown consistent growth with a robust backlog of $962.2 million as of December 31, 2023. Despite facing challenges, the company reported increased revenue in some segments and maintained a solid cash flow. In 2024, Hollysys' financial highlights included revenues of $423.6 million for the first half of the fiscal year, demonstrating a steady increase compared to the prior fiscal period.

Hollysys is currently involved in a critical acquisition process by Ascendent Capital Partners, with shareholders voting in favor of the transaction. This move aims to take the company private, potentially offering significant value to shareholders and ensuring continued strategic growth.

For more details, visit Hollysys Automation Technologies Ltd. or contact investors@hollysys.com.

News

Dazheng Group Reaffirms Commitment to Acquire Hollysys Automation Technologies at US$29.50 per share and Urges Shareholders to Vote Against the Lower Priced Ascendent Transaction

Rhea-AI Summary
Buyer Consortium led by Dazheng Group urges shareholders to vote against the Ascendent transaction and presents a higher offer for Hollysys. The transaction with Ascendent is subject to potential Chinese national security review and outbound investment approval, causing closing uncertainty. The Consortium has demonstrated financing above industry standards and claims Hollysys' allegations against them demonstrate prejudice and prevent shareholders from considering their offer.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.2%
Tags
acquisition
-
News

Hollysys Reiterates Strong Support for Ascendent Deal; Provides Update on Engagement with Dazheng

Rhea-AI Summary
The Special Committee of Hollysys Automation Technologies Ltd. reiterated its recommendation for shareholders to vote for the acquisition by Ascendent Capital Partners, dismissing Dazheng Group Acquisition Limited's proposal as not superior. The committee expressed concerns about Dazheng's ability to provide equity financing and its constantly changing consortium structure. They strongly disagreed with ISS and Glass Lewis recommendations and emphasized the need for shareholders to vote for the Ascendent acquisition for near-term cash with high certainty of closing.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.19%
Tags
none
-
News

Hollysys Engages With Buyer Consortium Led by Dazheng Group Following Recommendations Against Ascendent Transaction from Leading Proxy Advisors

Rhea-AI Summary
A buyer consortium led by Dazheng Group Acquisition Limited offered an all-cash proposal of US$29.50 per share to acquire Hollysys Automation Technologies Ltd. The consortium remains committed to negotiating this proposal with the Hollysys Board. They are urging shareholders to vote against the proposed Ascendent Capital deal, in line with recommendations from leading proxy advisors ISS and Glass Lewis.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.83%
Tags
none
News

Hollysys Announces Shareholder Meeting to Vote on Acquisition by Ascendent Capital Partners

Rhea-AI Summary
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) will hold an extraordinary general meeting to consider and vote on the proposal to authorize and approve the merger agreement with Ascendent Capital Partners for US$26.50 per share in cash. The board recommends shareholders to vote 'FOR' the merger agreement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.54%
Tags
acquisition
-
News

Hollysys Announces End of "Go-Shop" Period under Merger Agreement with Ascendent Capital Partners

Rhea-AI Summary
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) concludes 'go-shop' period, receives additional acquisition proposals but determines none constitute a Superior Proposal
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.3%
Tags
acquisition
-
News

Buyer Consortium Led by Dazheng Group Announces Enhanced All-Cash Proposal of US$29.00 Per Share to Acquire Hollysys

Rhea-AI Summary
Dazheng Group Acquisition Limited offers an increased all-cash proposal of US$29.00 per share, approximately US$1.8 Billion, to acquire all outstanding shares of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI). This offer is 9.4% higher than the Ascendent Capital offer and is backed by secured financing. The Consortium has full confidence that the Hollysys Board will deem its enhanced proposal superior and remains ready to enter into a merger agreement.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
acquisition
News

Hollysys to be Acquired by Ascendent Capital Partners for US$26.50 in Cash Per Share

Rhea-AI Summary
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) has reached an agreement to be acquired by Ascendent Capital Partners for approximately US$1.66bn, representing a premium of 42% to the unaffected price as of August 23, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.3%
Tags
acquisition
-
News

Buyer Consortium Led by Recco Control Technology and Dazheng Group Issues Statement on Hollysys’ Announced Special Meeting

Rhea-AI Summary
Recco Control Technology and Dazheng Group-led consortium reiterates an all-cash offer of US$26.50 per share for Hollysys Automation Technologies Ltd. (HOLI). The board's announcement of a special meeting for shareholders, and a potential merger agreement by mid-December 2023, has sparked conflict due to the consortium's concerns about the board's actions impeding shareholder rights and potentially favoring a management buyout. The consortium urges the board to hold the special meeting before any binding agreement is reached to ensure a legitimate sales process that maximizes shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.28%
Tags
none
-
News

Hollysys Update: EGM, Sale Process

Rhea-AI Summary
Hollysys Automation Technologies Ltd. (Hollysys) (NASDAQ: HOLI) intends to hold a special meeting of shareholders in January 2024 following the requests of certain shareholders. The Board has set November 27, 2023, as the record date for determining the shareholders entitled to vote at the special meeting. The proxy statement for the special meeting will be furnished with the SEC in the coming weeks, specifying detailed proposals to be voted on by shareholders, including increasing the maximum Board size and appointing six director candidates. The Special Committee has made positive progress with respect to the sale process and will continue the sale process in an expedited manner, aiming to execute a merger agreement by mid-December.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
4.86%
Tags
none
News

Hollysys Automation Technologies Reports Unaudited Financial Results for the First Quarter Ended September 30, 2023

Rhea-AI Summary
Hollysys Q1 FY2024 Financial Highlights: Total revenues reached $199.9 million, up 17.6% from the prior year. Gross margin increased to 34.6%. Net income attributable to Hollysys rose to $31.6 million, a 47.9% increase. Diluted earnings per share reached $0.51, up 45.7%. Non-GAAP measures also showed significant growth. Operating cash flow was $28.2 million. DSO decreased to 145 days, and inventory turnover days increased to 84 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.8%
Tags
earnings

FAQ

What is the current stock price of Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) (HOLI)?

The current stock price of Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) (HOLI) is $26.41 as of July 26, 2024.

What is the market cap of Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) (HOLI)?

The market cap of Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) (HOLI) is approximately 1.6B.

What does Hollysys Automation Technologies do?

Hollysys provides automation and control technologies that enhance safety, reliability, and efficiency across various industries.

Where is Hollysys Automation Technologies based?

Hollysys is based in China and operates in Southeast Asia and the Middle East.

What products and solutions does Hollysys offer?

Hollysys offers DCS, PLC, RMIS, TCC, SCADA systems, and automation solutions for nuclear power.

How many projects has Hollysys completed?

Hollysys has completed over 20,000 projects for more than 5,000 customers.

What are some of Hollysys' recent projects?

Recent projects include a 300-megawatt compressed air energy storage station and the Xiangyang-Jingmen high-speed railway.

What is Hollysys' financial performance for 2024?

For the first half of fiscal year 2024, Hollysys reported revenues of $423.6 million and a backlog of $962.2 million as of December 31, 2023.

Who is acquiring Hollysys Automation Technologies?

Ascendent Capital Partners is set to acquire Hollysys in a move to take the company private.

What is Hollysys' market position?

Hollysys is a leading automation control system solutions provider in China with a significant presence in Southeast Asia and the Middle East.

How does Hollysys support the rail industry?

Hollysys provides advanced signaling, control, and SCADA systems for high-speed and urban rail transportation.

Where can I find more information about Hollysys?

For more information, visit Hollysys' official website or contact them at investors@hollysys.com.

Stock HOLI logo
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)

Nasdaq:HOLI

HOLI Rankings

#2113 Ranked by Market Cap
N/A Ranked by Dividends

HOLI Stock Data

1.64B
46.79M
11.12%
88.44%
8.1%
Electrical Equipment & Parts
Industrials
Link
United States of America
Beijing