Hollysys Automation Technologies, Ltd.
hollysys.comNo Longer Reporting
The company has not filed an annual or quarterly report since its FY2023 20-F, filed Sep 20, 2023. Its latest SEC filing is a SC 13G/A from Nov 12, 2024.
20-F for FY2023, filed Sep 20, 2023
The sections below describe the company as of the FY2023 annual report.
What Did They Do?
Provides automation systems to industrial companies, rail signaling and control systems to rail customers, and mechanical and electrical project services for buildings and infrastructure.
20-F for FY2023, filed Sep 20, 2023We are a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions…View ↗
We are able to deliver the full spectrum of automation hardware, software, and services spanning field devices, control systems and…View ↗
On April 1, 2013, we purchased 100% of the equity of Bond Group for a purchase price of $73 million, payable 50% in cash and 50% in…View ↗
How Did They Make Money?
Customers buy customized automation systems and mechanical and electrical project work under contracts billed at agreed milestones; Hollysys earns project revenue as work progresses, with final billing generally tied to customer acceptance or the warranty period. It also sells hardware and software products when delivered.
20-F for FY2023, filed Sep 20, 2023Revenues generated from designing, building, and delivering customized integrated industrial automation systems are recognized over time as…View ↗
Revenue generated from mechanical and electrical solution contracts for the construction or renovation of buildings, rail or infrastructure…View ↗
The Company generally recognizes 100% of the contractual revenue when the customer acceptance has been obtained and no further major costs…View ↗
The Company’s products mainly include hardware and software. Revenue generated from sales of products is recognized when control of the…View ↗
Performance of the integrated solutions contracts will often extend over long periods and the Company’s right to receive payments depends…View ↗
$777.4M
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20-F for FY2023, filed Sep 20, 2023
$777.4M ↗
Who Were Their Customers?
Sells automation systems to industrial customers and rail systems to rail transportation customers, as well as mechanical and electrical project work for businesses in manufacturing, commercial buildings and infrastructure. Sales teams work with customers to tailor products and project solutions.
20-F for FY2023, filed Sep 20, 2023We are a leading automation control system solutions provider in China, with overseas operations in eight other countries and regions…View ↗
On April 1, 2013, we purchased 100% of the equity of Bond Group for a purchase price of $73 million, payable 50% in cash and 50% in…View ↗
Our marketing and sales activities are focused on the development of and addressing the growing demand for automation and control products…View ↗
Our sales teams consist of a complementary group of sales personnel and hardware and software engineers from a variety of disciplines to…View ↗
Did Revenues Turn Into Profits?
Yes. It kept 14 cents of every revenue dollar as net income in FY2023, but spent more cash than it brought in: free cash flow was −$17.7M.
Who Did They Compete With?
Competes with ABB, Honeywell, Emerson, Siemens, Supcon, Yokogawa, China Academy of Railway Science, Zhuzhou CRRC, CRSC, Nanjing Automation Research Institute, Invensys, Bombardier, Alstom, Bintai Kinden, PJI Holding, LFE, Kurihara, Sanyo, Bintai KDK, and Gammon Construction
20-F for FY2023, filed Sep 20, 2023In industry automation business, we believe our major competitors are multi-national corporations, such as ABB, Honeywell, Emerson and…View ↗
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