Hollysys Automation Technologies Ltd. provides automation solutions in the People's Republic of China, Southeast Asia, India, and the Middle East. The company offers a suite of industrial automation systems, including third-party hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising real-time management information system, HolliAS asset management system, operator training system, HolliAS batch application package, HolliAS advanced process control package, and safety instrumentation system, as well as HOLLiAS MACS-N DCS, a proprietary nuclear power non-safety automation and control system. It also provides train control center that monitors route condition, track status, train schedules, distance between trains, and the working status of other function devices, as well as generates control instructions and commands. In addition, the company offers automation train protection that operates as a train over-speed protection mechanism; and supervisory control and data acquisition system, an open software platform. Further, it offers research and development services; and provides integrated automation systems and services, mechanical and electrical solution services, and installation services. The company serves customers in the industrial, railway, subway, nuclear power, and mechanical and electronic industries. The company was formerly known as HLS Systems International Ltd. and changed its name to Hollysys Automation Technologies Ltd. in July 2009. Hollysys Automation Technologies Ltd. was founded in 1993 and is headquartered in Beijing, the People's Republic China.
IPO Year:
Exchange: NASDAQ
Website: hollysys.com
| Date | Price Target | Rating | Analyst |
|---|---|---|---|
| 8/3/2021 | $15.00 → $24.00 | Neutral → Overweight | JP Morgan |
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JP Morgan upgraded HollySys from Neutral to Overweight and set a new price target of $24.00 from $15.00 previously
JP Morgan downgraded HollySys from Overweight to Neutral and set a new price target of $16.10
JPMorgan Chase & Co. downgraded Hollysys Automation Technologies from Overweight to Neutral
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• 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 merger, dated as of December 11, 2023 (the "Merger Agreement") among the Company, Superior Technologies Holding Limited ("Parent") and its wholly-owned subsidiary Superior Technologies Mergersub Limited ("Merger Sub"). Leon Meng, Founding Managing Partner and Chairman o
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 date. The Company has notified Nasdaq of its intention to delist its shares from the NASDAQ Global Select Market on that date or shortly thereafter. About Hollysys Automation Technologies Ltd. Hollysys is a leading automation control system solutions provider in China, wit
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 all closing conditions in accordance with the merger agreement, including, among other things, (i) the satisfaction of the conditions that the aggregate amount of net cash of the Company and its subsidiaries exceed a certain amount and a certain amount of cash deposits are
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 will replace Union Power HK CPA Limited ("Union Power") as Hollysys' independent registered public accounting firm. As previously disclosed, on April 12, 2024, Union Power notified Hollysys that due to the sudden deterioration of the health condition of their managing part
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 informed the Company that following the sale, he holds approximately 80% of his pre-sale holdings in the Company. As the share sale was a personal decision, it does not affect the Company's going private transaction or operational plans. Dr. Wang has informed the Company that he
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 comparable prior year period. Non-GAAP net income attributable to Hollysys was $51.0 million, a decrease of 40.1% compared to the comparable prior year period. Diluted earnings per share was $0.80, a decrease of 38.9% compared to the comparable prior year period. Non-GAAP diluted
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 prior year period. Non-GAAP net income attributable to Hollysys was $46.8 million, a decrease of 35.5% compared to the comparable prior year period. Diluted earnings per share was $0.74, a decrease of 33.9% compared to the comparable prior year period. Non-GAAP diluted earning
Approximately 86.94% of the shareholders who voted at the shareholders meeting approved Ascendent's acquisition proposal; Approximately 76.95% of shareholders voted, underlining the competitive value that has been offered to them.Ascendent is committed to securing regulatory approvals and closing the acquisition expeditiously.HONG KONG, Feb. 8, 2024 /PRNewswire/ -- Ascendent Capital Partners ("Ascendent"), a private equity investment management firm managing assets for global institutional investors, is pleased to note that Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) ("Hollysys" or the "Company") has announced the voting results of the Company's Extraordinary General Meeting ("EGM")
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 Company and entities affiliated with Ascendent Capital Partners, Superior Technologies Holding Limited ("Parent"), and Superior Technologies Mergersub Limited ("Merger Sub"), pursuant to which, Merger Sub will merge with and into the Company, with the Company continuing as t
Buyer Consortium will remain committed to acquiring Hollysys at US$29.50 per share after the proposed Ascendent transaction is rejected by shareholders Buyer Consortium's offer provides more closing certainty than the proposed Ascendent transaction Urges shareholders to vote AGAINST the proposed Ascendent transaction Buyer Consortium ("the Consortium") led by Dazheng Group Acquisition Limited ("Dazheng Group") today issued the following statement reaffirming the merits of its offer to acquire Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) ("Hollysys"). The Buyer Consortium, led by Dazheng Group, remains extremely motivated to acquire Hollysys at US$29.50 per share. This offer r
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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 will replace Union Power HK CPA Limited ("Union Power") as Hollysys' independent registered public accounting firm. As previously disclosed, on April 12, 2024, Union Power notified Hollysys that due to the sudden deterioration of the health condition of their managing part
Approximately 86.94% of the shareholders who voted at the shareholders meeting approved Ascendent's acquisition proposal; Approximately 76.95% of shareholders voted, underlining the competitive value that has been offered to them.Ascendent is committed to securing regulatory approvals and closing the acquisition expeditiously.HONG KONG, Feb. 8, 2024 /PRNewswire/ -- Ascendent Capital Partners ("Ascendent"), a private equity investment management firm managing assets for global institutional investors, is pleased to note that Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) ("Hollysys" or the "Company") has announced the voting results of the Company's Extraordinary General Meeting ("EGM")
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 Company and entities affiliated with Ascendent Capital Partners, Superior Technologies Holding Limited ("Parent"), and Superior Technologies Mergersub Limited ("Merger Sub"), pursuant to which, Merger Sub will merge with and into the Company, with the Company continuing as t
Enhanced proposal is 9.4% higher than the Ascendent Capital offer and is backed by secured financing Ascendent Capital's proposal does not represent the best value for shareholders The Consortium has full confidence that the Hollysys Board will deem its enhanced proposal superior and remains ready to enter into a merger agreement Buyer Consortium ("the Consortium") led by Dazheng Group Acquisition Limited ("Dazheng Group") today announces it has submitted an increased all-cash offer of US$29.00 per share, or approximately US$1.8 Billion, to acquire all outstanding shares of Hollysys Automation Technologies Ltd. (NASDAQ:HOLI) ("Hollysys") in a letter sent to the Board on December 24, 2
BEIJING, Jan. 8, 2021 /PRNewswire/ -- Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), today announced that its Board of Directors (the "Board"), after careful review and consideration and with the assistance of its executive management team as well as outside financial and legal advisors, has determined that the unsolicited offer made by Mr. Baiqing Shao, CPE Funds Management Limited and purportedly on behalf of Ace Lead Profits Limited (collectively, the "Consortium") on December 7, 2020, to acquire all of the outstanding ordinary shares of the Company for $15.47 in cash per ordinary share, substantially undervalues the Company and is not in the best i
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Fiscal Year 2023 Financial Highlights Total revenues 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 year period.Net income attributable to Hollysys was $106.9 million, an increase of 28.6% compared to the comparable prior year period. Non-GAAP net income attributable to Hollysys was $111.6 million, an increase of 18.4% compared to the comparable prior year period.Diluted
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 comparable prior year period. Non-GAAP net income attributable to Hollysys was $85.1 million, an increase of 22.3% compared to the comparable prior year period. Diluted earnings per share was $1.31, an increase of 33.7% compared to the comparable prior year period. Non-GAAP dilu
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 prior year period. Non-GAAP net income attributable to Hollysys was $72.5 million, an increase of 41.4% compared to the comparable prior year period.Diluted earnings per share was $1.12, an increase of 55.6% compared to the comparable prior year period. Non-GAAP diluted earn
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 period. Non-GAAP net income attributable to Hollysys was $94.2 million, a decrease of 5.5% compared to the comparable prior year period. Diluted earnings per share was $1.35, a decrease of 7.5% compared to the comparable prior year period. Non-GAAP diluted earnings per share was
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 comparable prior year period. Non-GAAP net income attributable to Hollysys was $69.5 million, a decrease of 3.0% compared to the comparable prior year period. Diluted earnings per share was $0.98, a decrease of 12.5% compared to the comparable prior year period. Non-GAAP dilute
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 prior year period. Non-GAAP net income attributable to Hollysys was $51.3 million, a decrease of 3.3% compared to the comparable prior year period. Diluted earnings per share was $0.72, a decrease of 16.3% compared to the comparable prior year period. Non-GAAP diluted earn
BEIJING, March 10, 2022 /PRNewswire/ -- 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 Ordinary Shares of record at the close of business on April 4, 2022, implying a 20% payout ratio. The dividend will be payable in cash on or about April 25, 2022 to such shareholders. Dr. Changli Wang, the CEO and director of Hollysys, ex
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 acquisition is the best and only option to shareholders to achieve immediate liquidity on their investment, at a highly attractive premium and with far greater certainty. The Consortium reminds shareholders of the Company as of June 24, 2021 to sign, date and return the WH
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 achieve immediate liquidity on their investment, at a highly attractive premium and with far greater certainty. The Consortium reminds shareholders of the Company as of June 24, 2021 to sign, date and return the WHITE consent card as soon as possible before July 22, 2021.
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 of 7.8% compared to the comparable prior year period. Net cash provided by operating activities was $48.6 million for the current period. DSO of 186 days, compared to 188 days for the comparable prior year period. Inventory turnover days of 52 days, compared to 57 days for