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 ...

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 ...

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 regist ...

Expects to maintain majority of his holdings in the Company in anticipation of the going private transaction closingBEIJING, 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 hold ...

First Nine Months of Fiscal Year 2024 Financial HighlightsTotal 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, ...

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 d ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Hollysys Automation Technologies Reports Unaudited Financial Results for the Second Quarter and the First Half Year Ended December 31, 2023 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 inco ...

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 ...

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 ...

HONG 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% premium to ...