HONG 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 urge you t ...

- 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 Ascend ...

HONG 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 with the Conso ...

-- 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. Hong Kong time, to consider and vote on, among other things, the proposal to authorize and approve the previously announced merger agreement (t ...

Company 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"). The "go-shop" period followed an extensive, competitive process by the C ...

HONG KONG--(BUSINESS WIRE)--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, 2023. In addition to Dazheng Group and TFI Asset Management Limited, GA Technologies Limited has agreed to join the consor ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Hollysys Automation Technologies Reports Unaudited Financial Results for the First Quarter Ended September 30, 2023 First Quarter of Fiscal Year 2024 Financial Highlights • Total revenues were $199.9 million, an increase of 17.6% compared to the comparable prior year period. • Gross margin was 34.6%, compared to 31.1% for the comparable prior year period. Non-GAAP gross margin was 34.8%, compared to 31.3% for the comparable prior year period. • Net income attributable to H ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 20-F ☐ REGISTRATION STATEMENT PURSUANT TO SECTION 12(b) OR (g) OF THE SECURITIES EXCHANGE ACT OF 1934 OR ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to . OR ☐ SHELL COMPANY REPORT PURSUANT TO SECTION 13 OR 15( ...

Exhibit 99.1 FOR IMMEDIATE RELEASE Hollysys Automation Technologies Reports Unaudited Financial Results for the Third Quarter and the First Nine Months Ended March 31, 2023 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. • Ne ...

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, 2022 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 inc ...