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.
HollySys Automation Technologies Ltd. (NASDAQ: HOLI) announced that the Eastern Caribbean Supreme Court ruled on September 22, 2021, denying the claim by Mr. Baiqing Shao and Ace Lead Profits Limited regarding amendments to the company's Memorandum and Articles of Association. The court's decision validates the 2021 Amendments and orders the Claimants to cover the litigation costs. This ruling may be appealed within 42 days, but it allows HollySys to continue operating under the updated governance structure.
HollySys Automation Technologies Ltd. (NASDAQ: HOLI) announced that its co-COOs, Mr. Yue Xu and Mr. Lei Fang, have joined the Emerald Consortium, which aims to acquire all outstanding shares at $23.00 each. This move follows a preliminary offer from Superior Emerald, a company controlled by Ascendent Capital Partners. The Board is evaluating this non-binding offer while consulting with advisors. No final decision has been made regarding the offer, and the company has no obligation to update on it beyond legal requirements.
HollySys Automation Technologies Ltd. (NASDAQ: HOLI) announced its Board is evaluating a non-binding acquisition offer from the Emerald Consortium at US$23.00 per share, following a lower offer from the CPE Consortium of US$17.10 per share. The Board is committed to its fiduciary duties and has entered into a limited exclusivity period with the Emerald Consortium to assess the potential sale. HollySys specializes in automation and control technologies across various sectors and has completed over 30,000 projects since its inception in 1993.
The buyer consortium led by Shao Baiqing has extended the deadline for shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) to submit consents regarding its proposed acquisition at $17.10 per share. The new deadline is August 20, 2021, driven by shareholder inquiries concerning ongoing litigation in the British Virgin Islands Court about the legality of the Company's board amendments. The Consortium criticized the Company’s July 15 press release as misleading and has opted to withhold further comments until the Court’s judgment is issued.
HollySys Automation Technologies Ltd. (NASDAQ: HOLI) recently addressed shareholders, refuting claims made by a consortium led by former CEO Baiqing Shao. The company criticized the consortium's bid of US$17.10 per share as significantly undervalued. HollySys revealed that issues cited by the consortium stem from Shao's prior leadership, including a failed secondary offering in April 2019 that led to a 25% stock drop. The Board highlighted their commitment to protecting shareholder interests and ensuring any potential offers reflect fair value. Legal proceedings regarding ownership of shares involved in the consortium are ongoing.
The buyer consortium, including Mr. Shao Baiqing, Ace Lead Profits Limited, and CPE Funds Management Limited, has sent a letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) regarding its proposed acquisition. The Consortium offers $17.10 per share in cash, emphasizing it as the best option for immediate liquidity and attractive premium. Shareholders are urged to submit their consent with the WHITE card by July 22, 2021. The letter clarifies that consent is non-binding and does not commit shareholders to the acquisition, which will be voted on in a future meeting.
The buyer consortium, consisting of Shao Baiqing, Ace Lead Profits Limited, and CPE Funds Management Limited, has urged shareholders of Hollysys Automation Technologies Ltd. (HOLI) to support their proposed acquisition of the company at $17.10 per share. The consortium emphasizes that this is the only option for immediate liquidity and a premium return. They highlight that the company's value has declined due to poor financial performance and an ineffective board. The consortium encourages shareholders to submit their consent by July 22, 2021.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) reported a positive business update amid China's economic recovery following the pandemic. For FY2021, the company anticipates revenues between $560 million and $595 million, representing 11% to 18% growth. Key wins include a 2*660MW integration contract in the power segment, significant projects in petrochemicals, and advancements in high-speed rail technology. The industrial automation segment is projected to grow over 30% year-over-year, marking strong development in smart factory solutions and intelligent upgrades in rail systems.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) has responded to consent solicitation materials filed by CPE Funds Management and others, asserting its commitment to shareholder interests and long-term value creation. The company denies authorizing any third-party negotiations regarding its shareholding structure. Ongoing legal proceedings related to its charter documents are pending in the Eastern Caribbean Supreme Court. Hollysys encourages shareholders not to engage in the solicitation process at this time. The company continues to emphasize its revenue growth and technological advancements in industrial automation.
The buyer consortium, comprising CPE Funds Management Limited, Shao Baiqing, and Ace Lead Profits Limited, seeks shareholder consent for their proposed acquisition of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) at $17.10 per share. This offer represents a 37% premium over the stock's December 4, 2020 closing price. The consortium criticizes the board for inaction and mismanagement, highlighting a significant decline in financial performance, including a drop in net operating cash flow from positive $33.4 million to negative $6.4 million. Shareholders must submit their consent by July 22, 2021.
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