BEIJING, Jan. 24, 2022 /PRNewswire/ -- Hollysys Automation
Technologies Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a
leading provider of automation and control technologies and
applications in China, today made
available the following open letter to investors from Dr.
Changli Wang, the director of the
board, CEO and CSO of the Company.
Dear investors,
It's a great honor that, after an eight-year absence, I have
been invited by the Board to return as CEO of the company I
founded. The last two years have been difficult—the pandemic caused
an unprecedented public health crisis that threw the world economy
into a recession. During that time, the value of our shares
has also seen ups and downs. However, I am pleased to see that our
two principal business divisions—industrial automation and signal
systems—have been steadily growing during this volatile
period.
I believe that my time away from Hollysys has given me
perspective and that I will be able to revitalize the company and
its growth. When Steve Jobs returned
to his post as chief executive officer of Apple in 1997, he led one
of the most remarkable business turnarounds in history and led a
transformation that resulted in Apple becoming the most valuable
company in the world. While I have no illusions of Hollysys
becoming the most valuable company in the world, I hope to be able to use the example
Steve Jobs set to lead our own
turnaround and increase shareholder value. Based on discussions
with board members as well as many colleagues, I believe that it is
in the best interest of shareholders to focus on strengthening and
optimizing the business operations of the Company rather than
considering a sale at present.
My priorities in the next few months are:
to reunite all the invaluable human resources and rekindle their
working morale and aspiration;
to examine and evaluate each business divisions and segments, to
optimize our business and seize opportunities to grow; and
to restore the confidence of our investors.
I am truly grateful for the trust and support of our investors.
I hope to be able to meet with many of you in the near future.
Thank you for your continuous support. We look forward to the
joint path ahead.
Yours truthfully,
Dr. Changli WANG
About Hollysys Automation Technologies Ltd.
Hollysys is a leading automation control system solutions
provider in China, with overseas
operations in eight other countries and regions throughout
Asia. Leveraging its proprietary
technology and deep industry know-how, Hollysys empowers its
customers with enhanced operational safety, reliability,
efficiency, and intelligence which are critical to their
businesses. Hollysys derives its revenues mainly from providing
integrated solutions for industrial automation and rail
transportation. In industrial automation, Hollysys delivers the
full spectrum of automation hardware, software, and services
spanning field devices, control systems, enterprise manufacturing
management and cloud-based applications. In rail transportation,
Hollysys provides advanced signaling control and SCADA (Supervisory
Control and Data Acquisition) systems for high-speed rail and urban
rail (including subways). Founded in 1993, with technical expertise
and innovation, Hollysys has grown from a research team
specializing in automation control in the power industry into a
group providing integrated automation control system solutions for
customers in diverse industry verticals. Hollysys had cumulatively
carried out more than 30,000 projects for approximately 17,000
customers in various sectors including power, petrochemical,
high-speed rail, and urban rail, in which Hollysys has established
leading market positions.
SAFE HARBOR
This release contains forward-looking statements within the
meaning of the Private Securities Litigation Reform Act of 1995.
All statements, other than statements of historical fact included
herein are "forward-looking statements," including statements
regarding: the ability of the Company to achieve its commercial
objectives; the business strategy, plans and objectives of the
Company and its subsidiaries; and any other statements of
non-historical information. These forward-looking statements are
often identified by the use of forward-looking terminology such as
"believes," "expects" or similar expressions, involve known and
unknown risks and uncertainties. Such forward-looking statements,
based upon the current beliefs and expectations of Hollysys'
management, are subject to risks and uncertainties, which could
cause actual results to differ from the forward looking statements.
Although the Company believes that the expectations reflected in
these forward-looking statements are reasonable, they do involve
assumptions, risks and uncertainties, and these expectations may
prove to be incorrect. Investors should not place undue reliance on
these forward-looking statements, which speak only as of the date
of this press release. The Company's actual results could differ
materially from those anticipated in these forward-looking
statements as a result of a variety of factors, including those
discussed in the Company's reports that are filed with the
Securities and Exchange Commission and available on its website
(http://www.sec.gov). All forward-looking statements attributable
to the Company or persons acting on its behalf are expressly
qualified in their entirety by these factors. Other than as
required under the securities laws, the Company does not assume a
duty to update these forward-looking statements.
Contact information:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com
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SOURCE Hollysys Automation Technologies Ltd
