Welcome to our dedicated page for Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) news (Ticker: $HOLI), a resource for investors and traders seeking the latest updates and insights on Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island) stock.
Our selection of high-quality news articles is accompanied by an expert summary from Rhea-AI, detailing the impact and sentiment surrounding the news at the time of release, providing a deeper understanding of how each news could potentially affect Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)'s stock performance. The page also features a concise end-of-day stock performance summary, highlighting the actual market reaction to each news event. The list of tags makes it easy to classify and navigate through different types of news, whether you're interested in earnings reports, stock offerings, stock splits, clinical trials, fda approvals, dividends or buybacks.
Designed with both novice traders and seasoned investors in mind, our page aims to simplify the complex world of stock market news. By combining real-time updates, Rhea-AI's analytical insights, and historical stock performance data, we provide a holistic view of Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)'s position in the market.
Rhea-AI Summary
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) has reached an agreement to be acquired by Ascendent Capital Partners for approximately US$1.66bn, representing a premium of 42% to the unaffected price as of August 23, 2023.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
9.3%
Tags
-
Rhea-AI Summary
Recco Control Technology and Dazheng Group-led consortium reiterates an all-cash offer of US$26.50 per share for Hollysys Automation Technologies Ltd. (HOLI). The board's announcement of a special meeting for shareholders, and a potential merger agreement by mid-December 2023, has sparked conflict due to the consortium's concerns about the board's actions impeding shareholder rights and potentially favoring a management buyout. The consortium urges the board to hold the special meeting before any binding agreement is reached to ensure a legitimate sales process that maximizes shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-1.28%
Tags
-
Rhea-AI Summary
Hollysys Automation Technologies Ltd. (Hollysys) (NASDAQ: HOLI) intends to hold a special meeting of shareholders in January 2024 following the requests of certain shareholders. The Board has set November 27, 2023, as the record date for determining the shareholders entitled to vote at the special meeting. The proxy statement for the special meeting will be furnished with the SEC in the coming weeks, specifying detailed proposals to be voted on by shareholders, including increasing the maximum Board size and appointing six director candidates. The Special Committee has made positive progress with respect to the sale process and will continue the sale process in an expedited manner, aiming to execute a merger agreement by mid-December.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-- %
Tags
Rhea-AI Summary
Hollysys Q1 FY2024 Financial Highlights: Total revenues reached $199.9 million, up 17.6% from the prior year. Gross margin increased to 34.6%. Net income attributable to Hollysys rose to $31.6 million, a 47.9% increase. Diluted earnings per share reached $0.51, up 45.7%. Non-GAAP measures also showed significant growth. Operating cash flow was $28.2 million. DSO decreased to 145 days, and inventory turnover days increased to 84 days.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.8%
Tags
-
Rhea-AI Summary
Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) faces pressure from a buyer consortium led by Recco Control Technology Pte. Ltd. and Dazheng Group to allow the sale process to move forward. The consortium urges the Special Committee to evaluate their all-cash offer of US$26.50 per share, valuing the firm at approximately $1.64 billion. They demand transparency and respect for shareholders' rights, including the convening of a special meeting by the directors. The failure to do so raises concerns over the company's conduct of the sale process and directors' accountability.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
0.54%
Tags
-
Rhea-AI Summary
Hollysys Automation Technologies Ltd. (HOLI) announces a 42% premium offer and shareholder support for calling a special meeting
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.24%
Tags
Rhea-AI Summary
A buyer consortium led by Recco Control Technology and Dazheng Group has issued a statement regarding Hollysys Automation Technologies. Hollysys has refused to call a special meeting despite a valid request from shareholders representing significant ownership in the company. The consortium calls on the board of Hollysys to respect the rights of its shareholders and convene the special meeting immediately.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.97%
Tags
-
Rhea-AI Summary
Hollysys Automation Technologies Ltd. has received indications of interest from multiple prospective buyers, including financial sponsors and strategic buyers. The Special Committee of the Board of Directors is in ongoing discussions with the Recco Consortium and representatives of the Hollysys management team. The sale process is targeted to be at an advanced stage by early December.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
1.42%
Tags
-
Rhea-AI Summary
A buyer consortium led by Recco Control Technology and Dazheng Group issues a statement regarding Hollysys Automation Technologies' ongoing sale process and management-backed buyout proposal. The consortium remains interested in acquiring Hollysys and encourages an independent and transparent sale process. Shareholders have resubmitted a request for a special meeting. The consortium seeks to engage in due diligence and negotiations with the Special Committee. UBS Investment Bank is serving as financial advisor to the consortium.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.25%
Tags
Rhea-AI Summary
Hollysys Automation Technologies receives a non-binding proposal from its management team to acquire outstanding shares in a taking-private transaction.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
5.25%
Tags
Hollsys Automation Technologies INTERNATIONAL, LTD. COMMON (British Virgin Island)
Nasdaq:HOLI
HOLI Rankings
HOLI Stock Data
1.46B
46.98M
11.14%
83.16%
8.87%
Other Commercial and Service Industry Machinery Manufacturing
Manufacturing
United States of America
Beijing
About HOLI
hollysys automation technologies, a nasdaq public listed company since 2008, is a leading provider of automation and control technologies and applications in china that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. founded in 1993, hollysys has serves over 5,000 customers more than 20,000 projects in the industrial, railway, subway & nuclear industries with proven numerous track records, had established itself in the region of china, southeast asia, and the middle east. its proprietary technologies are applied in its industrial automation solution suite including dcs, plc, rmis, hams, ots, hollias batch, hollias apc suite, sis, tcc, atp, scada, nuclear power automation and control system and other products. after more than 20 years of stable growth, hollysys is growing into a global company, and strive to create more value to society and bring better life to human being by supplying cutting-edge products based on its co