Hollysys Automation Technologies Ltd. (HOLI)
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DESCRIPTION
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 hardware-centric products, such as instrumentation and actuators; proprietary software-centric distributed control systems/programmable logic controllers; and valued-added software packages comprising simulation training system, HolliAS asset management system, advanced process control, and manufacturing execution 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 offers integrated automation control system solutions, mechanical and electrical solutions, and installation services, as well as provides medicine and healthcare, industrial digitization, and industrial information security solutions. 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.
NEWS
Hollysys Announces Completion of Merger Transaction with Ascendent Capital Partners
prnewswire.com
2024-07-25 16:00:00• 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").
Hollysys Announces Expected Completion Date of Merger Transaction with Ascendent Capital Partners
prnewswire.com
2024-07-18 09:05:00BEIJING , 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.
Hollysys Announces Completion of Regulatory Review of Merger Transaction
prnewswire.com
2024-07-02 09:05:00BEIJING , 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.
Hollysys Announces Appointment of New Auditor
prnewswire.com
2024-06-03 06:00:00BEIJING , 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.
Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month - DXC Technology (NYSE:DXC)
benzinga.com
2024-05-23 08:36:20The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
Hollysys CEO Informs Company of Recent Share Sales
prnewswire.com
2024-05-22 09:00:00Expects 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.
Hollysys Automation Technologies Reports Unaudited Financial Results for the Third Quarter and the First Nine Months Ended March 31, 2024
prnewswire.com
2024-05-16 17:00:00First 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.
Hollysys Automation Technologies Reports Unaudited Financial Results for the Second Quarter and the First Half Year Ended December 31, 2023
prnewswire.com
2024-03-07 17:00:00First 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.
Hollysys Announces Shareholder Approval of Merger Agreement with Ascendent
prnewswire.com
2024-02-08 05:52:00BEIJING , 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 the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"), the articles of merger (the "Articles of Merger") and the plan of merger (the "Plan of Merger") to be filed with the Registrar of Corporate Affairs of the British Virgin Islands, and the transactions contemplated thereby, including the Merger.
Dazheng Group Reaffirms Commitment to Acquire Hollysys at US$29.50 Per Share
businesswire.com
2024-02-03 12:12:00HONG KONG--(BUSINESS WIRE)--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 represents a significantly greater value proposition for Hollysys shareholders, providing an 11.3%.
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
businesswire.com
2024-01-31 14:00:00HONG KONG--(BUSINESS WIRE)--Buyer Consortium (“the Consortium”) led by Dazheng Group Acquisition Limited (“Dazheng Group”) today issued the following public letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys”), after the latest unwarranted rejection from the Hollysys Special Committee. The full text of the Consortium's letter is as follows: Hollysys Shareholders, You have a critical decision to make on February 8, 2024, about the future of Hollysys. We urg.
Hollysys Reiterates Strong Support for Ascendent Deal; Provides Update on Engagement with Dazheng
prnewswire.com
2024-01-29 20:00:00- 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 and well-run process has brought the right outcome for shareholders: the Ascendent deal - Updated proxy materials detailing engagement with Dazheng in recent weeks will be released shortly BEIJING , Jan. 29, 2024 /PRNewswire/ -- The Special Committee of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today reiterated its unanimous recommendation that shareholders vote FOR the acquisition of the Company by a buyer controlled by Ascendent Capital Partners ("Ascendent"), an international and experienced private investment firm headquartered in Hong Kong.
Hollysys Engages With Buyer Consortium Led by Dazheng Group Following Recommendations Against Ascendent Transaction from Leading Proxy Advisors
businesswire.com
2024-01-29 13:30:00HONG KONG--(BUSINESS WIRE)--Buyer Consortium (“the Consortium”) led by Dazheng Group Acquisition Limited (“Dazheng Group”) today provided an update to Hollysys shareholders regarding recent negotiations between the Consortium and the Special Committee of the board of directors of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys”). Members of the consortium also include TFI Asset Management Limited and GA Technologies Limited. The Special Committee of the Hollysys Board engaged wi.
HOLLYSYS AUTOMATION INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Hollysys Automation Technologies Ltd. - HOLI
businesswire.com
2024-01-10 17:13:00NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Hollysys Automation Technologies Ltd. (NasdaqGS: HOLI) to Ascendent Capital Partners. Under the terms of the proposed transaction, shareholders of Hollysys will receive $26.50 in cash for each share of Hollysys that they own. KSF is seeking to determine whether this consideration and the process that led to it.
Hollysys Announces Shareholder Meeting to Vote on Acquisition by Ascendent Capital Partners
prnewswire.com
2024-01-05 09:21:00-- 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.
Hollysys Announces End of "Go-Shop" Period under Merger Agreement with Ascendent Capital Partners
prnewswire.com
2023-12-27 07:00:00Company 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 ("Ascendent").
Hollysys Announces Completion of Merger Transaction with Ascendent Capital Partners
prnewswire.com
2024-07-25 16:00:00• 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").
Hollysys Announces Expected Completion Date of Merger Transaction with Ascendent Capital Partners
prnewswire.com
2024-07-18 09:05:00BEIJING , 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.
Hollysys Announces Completion of Regulatory Review of Merger Transaction
prnewswire.com
2024-07-02 09:05:00BEIJING , 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.
Hollysys Announces Appointment of New Auditor
prnewswire.com
2024-06-03 06:00:00BEIJING , 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.
Top 5 Tech Stocks That Could Lead To Your Biggest Gains This Month - DXC Technology (NYSE:DXC)
benzinga.com
2024-05-23 08:36:20The most oversold stocks in the information technology sector presents an opportunity to buy into undervalued companies.
Hollysys CEO Informs Company of Recent Share Sales
prnewswire.com
2024-05-22 09:00:00Expects 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.
Hollysys Automation Technologies Reports Unaudited Financial Results for the Third Quarter and the First Nine Months Ended March 31, 2024
prnewswire.com
2024-05-16 17:00:00First 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.
Hollysys Automation Technologies Reports Unaudited Financial Results for the Second Quarter and the First Half Year Ended December 31, 2023
prnewswire.com
2024-03-07 17:00:00First 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.
Hollysys Announces Shareholder Approval of Merger Agreement with Ascendent
prnewswire.com
2024-02-08 05:52:00BEIJING , 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 the surviving company and becoming a wholly owned subsidiary of Parent (the "Merger"), the articles of merger (the "Articles of Merger") and the plan of merger (the "Plan of Merger") to be filed with the Registrar of Corporate Affairs of the British Virgin Islands, and the transactions contemplated thereby, including the Merger.
Dazheng Group Reaffirms Commitment to Acquire Hollysys at US$29.50 Per Share
businesswire.com
2024-02-03 12:12:00HONG KONG--(BUSINESS WIRE)--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 represents a significantly greater value proposition for Hollysys shareholders, providing an 11.3%.
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
businesswire.com
2024-01-31 14:00:00HONG KONG--(BUSINESS WIRE)--Buyer Consortium (“the Consortium”) led by Dazheng Group Acquisition Limited (“Dazheng Group”) today issued the following public letter to shareholders of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys”), after the latest unwarranted rejection from the Hollysys Special Committee. The full text of the Consortium's letter is as follows: Hollysys Shareholders, You have a critical decision to make on February 8, 2024, about the future of Hollysys. We urg.
Hollysys Reiterates Strong Support for Ascendent Deal; Provides Update on Engagement with Dazheng
prnewswire.com
2024-01-29 20:00:00- 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 and well-run process has brought the right outcome for shareholders: the Ascendent deal - Updated proxy materials detailing engagement with Dazheng in recent weeks will be released shortly BEIJING , Jan. 29, 2024 /PRNewswire/ -- The Special Committee of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company") today reiterated its unanimous recommendation that shareholders vote FOR the acquisition of the Company by a buyer controlled by Ascendent Capital Partners ("Ascendent"), an international and experienced private investment firm headquartered in Hong Kong.
Hollysys Engages With Buyer Consortium Led by Dazheng Group Following Recommendations Against Ascendent Transaction from Leading Proxy Advisors
businesswire.com
2024-01-29 13:30:00HONG KONG--(BUSINESS WIRE)--Buyer Consortium (“the Consortium”) led by Dazheng Group Acquisition Limited (“Dazheng Group”) today provided an update to Hollysys shareholders regarding recent negotiations between the Consortium and the Special Committee of the board of directors of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys”). Members of the consortium also include TFI Asset Management Limited and GA Technologies Limited. The Special Committee of the Hollysys Board engaged wi.
HOLLYSYS AUTOMATION INVESTOR ALERT by the Former Attorney General of Louisiana: Kahn Swick & Foti, LLC Investigates Adequacy of Price and Process in Proposed Sale of Hollysys Automation Technologies Ltd. - HOLI
businesswire.com
2024-01-10 17:13:00NEW ORLEANS--(BUSINESS WIRE)--Former Attorney General of Louisiana Charles C. Foti, Jr., Esq. and the law firm of Kahn Swick & Foti, LLC (“KSF”) are investigating the proposed sale of Hollysys Automation Technologies Ltd. (NasdaqGS: HOLI) to Ascendent Capital Partners. Under the terms of the proposed transaction, shareholders of Hollysys will receive $26.50 in cash for each share of Hollysys that they own. KSF is seeking to determine whether this consideration and the process that led to it.
Hollysys Announces Shareholder Meeting to Vote on Acquisition by Ascendent Capital Partners
prnewswire.com
2024-01-05 09:21:00-- 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.
Hollysys Announces End of "Go-Shop" Period under Merger Agreement with Ascendent Capital Partners
prnewswire.com
2023-12-27 07:00:00Company 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 ("Ascendent").