Is Hollysys Automation Technologies (HOLI) A Smart Long-Term Buy?
Davis Funds, an investment management firm, published its “Davis Global Fund” fourth quarter 2020 investor letter – a copy of which can be downloaded here. A return of 23.06% was recorded by the fund for the Q4 of 2020, outperforming its MSCI ACWI benchmark that delivered a 16.25% return in the same period. You can view the fund’s top 5 holdings to have a peek at their top bets for 2021.
Davis Global Fund, in their Q4 2020 investor letter, mentioned Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) and shared their insights on the company. Hollysys Automation Technologies Ltd. is a Beijing, China-based process automation company that currently has a $758.9 million market capitalization. Since the beginning of the year, HOLI delivered a -15.11% return, while its 12-month return is also down by -11.56%. As of April 06, 2021, the stock closed at $12.47 per share.
Hollysys Response to Ace Lead Profits Limited Misleading Press Release
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BEIJING, March 16, 2021 /PRNewswire/ Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ( Hollysys or the Company ) refers to a press release issued on March 14, 2021 (the Press Release ) concerning a purported preliminary victory by Shao Baiqing ( Mr. Shao ) and Ace Lead Profits Limited ( Ace Lead ) against the Company before the Commercial Division of the Eastern Caribbean Supreme Court, Territory of the British Virgin Islands (the Court ).
The Company notes that the Press Release contains multiple misleading statements in relation to the Court process, which the Company feels compelled to clarify.
Hollysys Board of Directors Received a Notice From Hollysys Committee on Trust Interests
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BEIJING, March 15, 2021 /PRNewswire/ The Board of Directors (the Board ) of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) ( Hollysys or the Company ) refers to the announcement made by the Company on February 1, 2021 whereby the Board confirmed receipt of a revised unsolicited consortium proposal to acquire all the outstanding shares of Hollysys made by Shao Baiqing ( Mr. Shao ), Ace Lead Profits Limited ( Ace Lead ) and CPE Funds Management Limited (the Revised Proposal ). The Revised Proposal was exhibited to the Schedule 13D (Amendment No.2) dated January 29, 2021 filed jointly by Mr. Shao and Ace Lead (the Amended Schedule 13D ). It was stated in the Amended Schedule 13D that Ace Lead is wholly owned and controlled by Mr. Shao and Mr. Shao may be deemed to be a beneficial owner of the shares of the Company held by Ace
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