Hollysys Announces Appointment of New Auditor

Company Overview - Hollysys Automation Technologies Ltd. is a leading provider of automation control system solutions in China, with operations in eight other countries and regions throughout Asia [4] - The company specializes in integrated solutions for industrial automation and rail transportation, offering a full spectrum of automation hardware, software, and services [4] - As of June 30, 2023, Hollysys has completed over 45,000 projects for approximately 23,000 customers across various sectors, establishing leading market positions in power, petrochemical, high-speed rail, and urban rail [4] Recent Developments - Hollysys appointed Vocation HK CPA Limited as its independent registered public accounting firm, effective May 28, 2024, following a thorough evaluation process approved by the board and audit committee [1] - Vocation replaces Union Power HK CPA Limited, which resigned due to the health condition of their managing partner and not due to any disagreements with Hollysys [2] - The company is progressing towards closing a merger agreement with a buyer controlled by Ascendent Capital Partners, reaffirming their commitment to the transaction [3]