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August 15, 2023 |
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See the section entitled Non-GAAP Measures for more information about non-GAAP gross margin, non-GAAP net income attributable to Hollysys and non-GAAP diluted earnings per share.
Beijing, China August 15, 2023 Hollysys
Automation Technologies Ltd. (NASDAQ: HOLI) (Hollysys, the Company or we), a leading provider of automation and control technologies and applications in China, today announced its unaudited financial results for
the fiscal year 2023 and the fourth quarter ended June 30, 2023.
The Industrial Automation segment continued its growth momentum.
The variety of applications and use cases for our product continue to expand, and we have received awards for numerous projects and products.
In the chemical and petrochemical field, Hollysys continued to achieve breakthroughs on national key projects and maintained our cooperation
with key customers. We won several mid- and high-profile contracts with competitive positioning in this fiscal year. For example, we signed a 100-billion-square-meter
large gas field project and a whole-plant integrated simulation project of a synthetic ammonia and urea plant. We reinforced the Hia Advanced Process Control platform for one of our petrochemical customers, optimizing its isooctane unit and helping
it become a benchmark in its industry while maintaining competitive vitality. Moreover, the Sinopec Group Million Ton Ethylene Project saw the first batch delivery in this fiscal year, representing a milestone breakthrough in Hollysys
petrochemical business. We also assisted a chemical enterprise in establishing a digital talent training base with our Operator Training Simulator in the fourth fiscal quarter. Additionally, Hollysys strategic layout and developments in
overseas business witnessed steady progress. We successfully signed the OBI nickel-iron project in Indonesia with a resource company in this fiscal year, with Hollysys providing relevant customized products with integrated and comprehensive
intelligent solutions, marking a new milestone for our overseas market expansion.
The food and pharmaceutical sectors also demonstrated
steady business growth. We signed a significant project with a leading enterprise of generic contrast media products on producing iodiproamine and regadesone in this fiscal year, with Hollysys acting as the overall instrument control contractor that
provides Distributed Control System (DCS), instrument valves and installation. In the fourth fiscal quarter, we also provided an integrated solution for a pharmaceutical company and received high user recognition.
In the smart factory field, we kept developing customized smart factory solutions that meet customers requirements. We made several
vital cooperations with various customers in this fiscal year. We signed the project of automatic control system and factory intelligent management system of a northwest listed coal company and the Sinopec power center simulation project which
covers the whole range of high-precision excitation virtual imitation machine systems. Meanwhile, we completed the delivery of a 230,000 tons phenolic resin project, providing fully autonomous and controllable HiaBatch control system. In the fourth
fiscal quarter, we won the bids for two smart factory projects that are expected to aid in their intelligent transformation and help reduce their production and operation costs.
In Rail Transportation Automation segment, we continued to maintain our market position. In the high-speed rail sector, we made new progress
in this fiscal year. For instance, we participated in the Guizhou section of Guiyang-Nanning Railway project and Yiyang-Changsha section of Changde-Yiyang-Changsha High-Speed Railway project. In the subway sector, our Traffic Operation System
Platform was successfully applied in the Phase I Project of Beijing Metro Line 19. In terms of the urban rail transit sector, the first phase of Lanzhou Rail Transit Line 2 started trial operation successfully with the support of our comprehensive
monitoring system and other services in the fourth fiscal quarter. We also provided an integrated station control room for Lanzhou Rail Transit. Moreover, our ZPW-2000S communication coding track circuit
product, which was certified by the Safety Integrity Level 4 and the China Railway Product Certification Center, won two bids on domestic lines in the fourth fiscal quarter. In addition to the domestic market, we have smoothly explored the
overseas market. We signed the sales project of the main control system software and Programmable Logic Controller for Kuching urban transportation system in Sarawak, Malaysia in this fiscal year, of which the main control system adopted our
independently developed MACS-SCADA software system platform. We believe that this project lays a solid foundation for future access to overseas markets and is expected to further enhance our international influence in the field of rail transit.
The Mechanical and Electrical Solution segment also manifested a stable performance with smooth executions on various projects.
With our continuous dedication to the industry and the support of experienced and passionate experts, we believe that we will continue to
create more value for our clients and shareholders.