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) has received a revised unsolicited proposal to acquire all outstanding shares for $17.10 each. The Board of Directors is committed to maximizing shareholder value and will evaluate this proposal alongside its ongoing business strategy. Legal advisors are involved in the review process, but no specific timeline has been set for any potential agreement. The Board emphasizes that shareholders do not need to take immediate action. Hollysys specializes in automation solutions in China and several other regions.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) announced plans for its management team to purchase up to US$50 million in the company's shares over a six-month period. This initiative, funded through a special purpose vehicle owned by management, aims to enhance shareholder value. A lock-up period of at least 24 months will apply to the purchased shares. Chairwoman Li Qiao stated that this move signifies management's confidence in the company and its commitment to shareholders. Hollysys operates extensively in automation control systems across various industries.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) announced on January 8, 2021, that its Board of Directors has rejected an unsolicited acquisition offer from a consortium led by Baiqing Shao, valuing the company at $15.47 per share. The Board deemed this offer substantially undervalued Hollysys and contrary to the best interests of shareholders. Chairwoman Li Qiao expressed confidence in the company's strategic direction and its potential for value creation in the automation industry, asserting a commitment to protecting shareholder interests against undervalued proposals.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) announced the formation of a Strategic Technology Group on December 22, 2020, aimed at enhancing research and development in response to COVID-19. Directed by founder Changli Wang, the group will focus on industrial, rail, and medical automation. The team includes executives like Co-COOs Lei Fang and Xue Yu, and CTO Chunming He. This initiative underscores Hollysys' commitment to innovation and aims to create value for shareholders by exploring new opportunities in China and globally.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) announced receipt of an unsolicited non-binding proposal on December 7, 2020, from a consortium led by Baiqing Shao to acquire all outstanding ordinary shares at $15.47 per share. The board is consulting legal advisors to evaluate this proposal and advises shareholders to take no action yet. No decisions regarding the proposal have been made, and there is no guarantee of a definitive offer or agreement. Hollysys specializes in automation solutions across various industries in China and other regions.
Hollysys Automation Technologies Ltd. (HOLI) reported its financial results for Q1 FY2021, ending September 30, 2020. Total revenues increased by 5.1% to $129.5 million, while non-GAAP net income decreased by 30.2% to $20.8 million. Non-GAAP diluted EPS was $0.34, a decline of 30.6%. The company achieved $144.3 million in new contracts, with a backlog of $596.1 million. Overall gross margin fell to 33.7% from 37.7% due to a varied revenue mix. Cash and cash equivalents stood at $321.6 million. The company will hold a conference call on November 12, 2020, to discuss results and outlook.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) will report its fiscal year 2021 first-quarter financial results on November 12, 2020. The company will host a conference call at 8:00 PM EST (November 12) to discuss the results for the quarter ending September 30, 2020, and provide insights into its business outlook. Hollysys, a leading provider of automation control systems in China, serves various sectors and has completed over 30,000 projects for approximately 17,000 customers.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) has declared an annual cash dividend of $0.20 per ordinary share for fiscal year 2020, reflecting a 15% payout ratio. The dividend is set to be distributed on or around November 20, 2020, to shareholders recorded by the close of business on October 22, 2020. The company specializes in automation and control technologies, servicing various sectors including industrial automation and rail transportation, while maintaining a strong market presence in China and abroad.
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) announced significant changes to its Board of Directors on September 1, 2020, following the resignation of independent director Jerry Zhang. Dr. Kok Peng TEH and Ms. Khiaw Ngoh TAN were appointed as independent directors, enhancing the board's expertise. Ms. TAN meets the SEC's criteria for an audit committee financial expert. The company aims to comply with Nasdaq Listing Rule 5605 regarding independent directors and audit committee composition, continuing its focus on automation for improved operational efficiency.
Hollysys Automation Technologies (NASDAQ: HOLI) reported fiscal year 2020 revenues of $503.3 million, down 11.7% YoY, and a non-GAAP net income of $80.1 million, a decrease of 36.5%. Q4 saw revenues of $129.2 million, a 17.7% drop, and net income of $2.2 million, down 91.3%. The company's non-GAAP gross margin improved to 37.9% from 37.1% a year prior. Cash provided by operating activities increased significantly to $175.1 million, marking a 74.2% YoY rise. The company also announced management changes, including new CEO Chit Nim Sung and Chairwoman Li Qiao.
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