Technology

Hollysys Announces Appointment of New Auditor

Published

2 years ago

June 3, 2024

BEIJING, June 3, 2024 /PRNewswire/ — Hollysys Automation Technologies Ltd. (NASDAQ: HOLI) (“Hollysys” or the “Company”) today announced the appointment of Vocation HK CPA Limited (“Vocation”) as its independent registered public accounting firm, effective May 28, 2024.

The appointment of Vocation was made after a careful and thorough evaluation process and has been approved by Hollysys’ board and audit committee.

Vocation will replace Union Power HK CPA Limited (“Union Power”) as Hollysys’ independent registered public accounting firm. As previously disclosed, on April 12, 2024, Union Power notified Hollysys that due to the sudden deterioration of the health condition of their managing partner, they determine to cease providing financial statement audit services to all U.S. public companies, and therefore would resign as Hollysys’ independent certified public accounting firm, with immediate effect. The resignation of Union Power was not the result of any disagreement between Hollysys and Union Power on any matter of accounting principles or practices, financial statement disclosure, or auditing scope or procedure.

Update on Merger Transaction

As previously disclosed, the Company entered into a merger agreement to be acquired by a buyer controlled by Ascendent Capital Partners (“ACP”). The Company and ACP reaffirm their strong commitment to closing the merger and continue to progress toward satisfying closing conditions to consummate the transaction in accordance with the merger agreement.

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. As of June 30, 2023, Hollysys had cumulatively carried out more than 45,000 projects for approximately 23,000 customers in various sectors including power, petrochemical, high-speed rail, and urban rail, in which Hollysys has established leading market positions.

Safe Harbor Statements

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; growth in financial and operational performance of the Company; and any other statements of non-historical information. These forward-looking statements are often identified by the use of forward-looking terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident,” 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

Company Contact:
Hollysys Automation Technologies Ltd.
www.hollysys.com
+8610-5898-1386
investors@hollysys.com

Media Contacts (Hong Kong and New York):

Brunswick Group
hollysys@brunswickgroup.com

Daniel Del Re (Hong Kong)
ddelre@brunswickgroup.com
+852 9255 5136

Libby Lloyd (New York)
llloyd@brunswickgroup.com
+1 347 283 3871

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SOURCE Hollysys Automation Technologies Ltd

Technology

Invitation to Tecsys’ Conference Call on June 30, 2026, Covering Fourth Quarter and Fiscal Year 2026 Results

Published

32 minutes ago

June 16, 2026

MONTREAL, June 15, 2026 /CNW/ — Tecsys Inc. (TSX: TCS) will release its financial results for the fourth quarter and fiscal year 2026 ended April 30, 2026, on June 29, 2026, after the markets close. Tecsys President and CEO Peter Brereton, and CFO Mark J. Bentler, will host a conference call on June 30, 2026, at 8:30 a.m. ET to present and discuss the results with the analysts.

Subject: Q4 and FY2026 Financial Results Conference Call
Date: June 30, 2026
Time: 8:30 a.m. ET
Phone number: 1-800-836-8184 or 1-646-357-8785

The call can be replayed until July 7, 2026, by calling 1-888-660-6345 or 1-646-517-4150 (access code: 11868 #).

About Tecsys

Tecsys is trusted by mission-critical organizations in healthcare and distribution to build resilient, efficient and secure supply chains. A global provider of cloud-based, AI-driven software with deep domain expertise, Tecsys delivers real-time operational visibility and execution across critical workflows when performance and reliability matter most. Tecsys is publicly traded on the Toronto Stock Exchange (TCS). For more information, visit www.tecsys.com.

Forward Looking Statements

The statements in this news release relating to matters that are not historical fact are forward-looking statements that are based on management’s beliefs and assumptions. Such statements are not guarantees of future performance and are subject to a number of uncertainties, including but not limited to future economic conditions, the markets that Tecsys Inc. serves, the actions of competitors, major new technological trends, and other factors beyond the control of Tecsys Inc., which could cause actual results to differ materially from such statements. More information about the risks and uncertainties associated with Tecsys Inc.’s business can be found in the MD&A section of the Company’s annual report and the most recently filed annual information form. These documents have been filed with the Canadian securities commissions and are available on our website (www.tecsys.com) and on SEDAR+ (www.sedarplus.ca).

SOURCE Tecsys Inc.

Technology

Quest Global Launches Neprion to Accelerate AI Smart Wearables Launch Readiness

Published

32 minutes ago

June 16, 2026

New engineering service package designed to help OEMs, retailers, and fashion brands ensure reliability, interoperability, safety, and launch readiness for AI-enabled smart wearables

BENGALURU, India and WINDSOR, Conn., June 16, 2026 /PRNewswire/ — Quest Global, the largest independent pure-play engineering services company, today announced the launch of Neprion (Next–Gen Product Realization), a framework-led product realization and system validation offering for AI/AR smart glasses and broader AI/AR/XR smart wearables.

Quest Global’s Neprion is designed to help OEMs, Tier–1 suppliers, and ecosystem partners accelerate validation, improve launch readiness, and deliver production-grade quality, safety, and interoperability for next-generation wearable devices.

As the global AR and VR market is projected to generate revenues of US$50.9 billion in 2026, driven by growing adoption of immersive technologies across consumer and enterprise applications, Neprion is helping customers across North America, Europe and APAC accelerate the development of AI/AR smart glasses. Designed for OEMs, fashion brands and retailers, the platform enables teams to move from prototype to market with confidence, transforming engineering complexity into predictable quality and on-time launch readiness through a single-partner execution model.

Commenting on the announcement, Tinku Jose, Head of Vertical Technology (Hi-Tech), Quest Global, said, “AI-enabled smart wearables are moving into the mainstream, and scale doesn’t reduce engineering risk it raises the bar for validation rigor, interoperability, AI accuracy, functional safety, and compliance readiness. With Neprion, we are packaging our product engineering depth and validation expertise into a scalable framework-led offering that helps customers accelerate launch readiness while improving product reliability and user trust.”

He added, “As the AI, AR, and XR ecosystem becomes more complex, organizations need engineering partners that can compress time-to-market without weakening quality controls. Neprion enables disciplined execution across hardware, embedded software, connectivity, and AI-enabled experiences helping customers scale innovation while maintaining product integrity and compliance readiness.”

Neprion is designed for device engineering leaders, Tier–1 suppliers, quality and validation leaders, and certification stakeholders seeking structured, scalable product and system validation for next-generation smart wearables.

The launch comes at a time when the AI/AR/XR smart wearables ecosystem is witnessing accelerated innovation, growing demand for interoperability across devices and platforms, and increasing focus on production-grade AI performance, compliance readiness, and seamless user experiences.

About Quest Global

At Quest Global, it’s not just what we do but how and why we do it that makes us different. We’re in the business of engineering, but what we’re really creating is a brighter future. For over 25 years, we’ve been solving the world’s most complex engineering problems. Operating in over 20 countries, with over 104 global delivery centers, our 23,000+ curious minds embrace the power of doing things differently to make the impossible possible. Using a multi-dimensional approach, combining technology, industry expertise, and diverse talents, we tackle critical challenges faster and more effectively. And we do it across the Aerospace & Defense, Automotive, Energy, Hi-Tech, MedTech & Healthcare, Rail and Semiconductor industries. For world-class end-to-end engineering solutions, we are your trusted partner.  

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Technology

Fortune Unveils 2026 Southeast Asia 500

Published

32 minutes ago

June 16, 2026

Trafigura Group tops the 2026 Fortune Southeast Asia 500 for the third consecutive year, with US$240.3 billion in revenue

Vietnam companies emerge as the ranking’s standout growth story, with aggregate revenue up 10.5% — triple the regional average

Revenue threshold to qualify for the 2026 Fortune Southeast Asia 500 jumps 26% to US$440.6 million

Two Singapore-based crypto-mining firms debut on the list

40 female CEOs on the list, including Fortune’s Most Powerful Woman in Asia, DBS CEO Tan Su Shan

SINGAPORE, June 16, 2026 /PRNewswire/ — Today, Fortune announced the Fortune Southeast Asia 500™ rankings for 2026, the third annual list of the largest companies in the region, ranked by revenue for the 2025 fiscal year.

Topping the 2026 Fortune Southeast Asia 500 for the third consecutive year is Singapore-headquartered commodity trader Trafigura Group (No. 1), with US$240.3 billion in revenue. It is followed by Thailand’s state energy company PTT (No. 2, US$81.0 billion), Indonesia’s Pertamina (No. 3, US$70.9 billion), Singapore-based agribusiness giant Wilmar International (No. 4, US$70.4 billion), and fellow Singapore company Olam Group (No. 5, US$51.5 billion). Three of the top five are headquartered in Singapore.

Vietnam was the ranking’s standout growth story. The country’s 72 companies generated US$177.9 billion in aggregate revenue, up 10.5% year-over-year — triple the regional average. Despite representing less than 10% of the overall revenue base, Vietnam’s companies contributed roughly a quarter of this year’s total revenue growth across the entire ranking.

Thailand leads all countries with 105 companies on the list, narrowly ahead of Indonesia’s 104. Singapore’s 82 companies generate the ranking’s highest aggregate national revenue at US$657.6 billion. Malaysia accounts for 93 companies, Vietnam 72, the Philippines 42 — up two from last year — and Cambodia 2.

Energy remained the dominant sector by revenue at 31.5% across 57 companies, led by the state-linked oil and gas majors that have anchored the list since its 2024 launch. Financials ranked second by company count with 76 companies, contributing 16.2% of revenue. Yet the story flips when considering profits: Energy players accounted for 15.7% of profits on the list compared to 43% for Financials. Among the 34 new entrants, Thailand added the most with nine, followed by Malaysia with eight; Financials and Engineering & Construction each contributed six.

The revenue threshold for the 2026 Fortune Southeast Asia 500 rose to US$440.6 million — 26% higher than last year’s. The 500 companies collectively generated US$1.878 trillion in revenue for fiscal year 2025, up 3.4% from the comparable figures in last year’s published list, with combined profits of US$150.0 billion. Concentration at the top remains pronounced: the top five companies account for US$514.1 billion in revenue (27.4% of the total); the top 20 account for US$850.4 billion (45.3%).

“What this year’s Southeast Asia 500 really tells us is that the region is starting to decouple from its commodity identity. The corporate center of gravity is moving toward finance, technology, and a new tier of national champions,” notes Andrew Staples, Editorial Director, Asia. “The fourth edition, in 2027, will tell us whether 2026 marked the start of a genuine reordering of the Southeast Asian corporate landscape — or simply a particularly good year for the region’s emerging tier,” he adds.

Thirty-four new companies joined the ranking, including two Singapore-headquartered bitcoin miners making their first appearance on the list. Bitdeer Technologies Group (No. 401) with US$620.3 million in revenue, and BitFuFu (No. 475) with US$477.5 million, are the first crypto-mining companies ever to qualify for the Fortune Southeast Asia 500, a sign that the region’s corporate landscape is broadening into new categories even as the bar to compete rises sharply.

Among movers, Yanlord Land fell 98 places as revenue dropped 60.5%, and Lopez Holdings fell 94 places on a 49.5% revenue decline. On the upside, both standout risers came from Indonesia: Hartadinata Abadi climbed 115 places on revenue growth of 135%, while Barito Pacific rose 102 places on growth of 220%.

Among the 500 companies, 40 are led by female CEOs — including Tan Su Shan of DBS (No. 8), who ranks sixth globally and first in Asia on Fortune’s 2026 Most Powerful Women in Business list.

In his introduction to the new list in the June/July issue of Fortune Asia magazine, editor, Asia, Nick Gordon notes, the Fortune Southeast Asia 500 captures “Southeast Asia shrugged off tariffs and trade protectionism last year to remain one of the world’s most dynamic regions. Southeast Asian countries are vital nodes in global supply chains; foreign investment from both Asia and the West is pouring in; and the region’s young, mobile-savvy consumers are driving domestic spending.”

The 2026 Fortune Southeast Asia 500 list and stories are available internationally on Fortune.com/asia and on newsstands across Asia starting today, June 16. The list and rankings can be viewed at https://fortune.com/asia/ranking/southeast-asia-500/2026/.

About Fortune

Fortune is the premier global media company for global business leaders, built on a 96-year-old legacy of trusted, award-winning journalism. Independently owned, Fortune tells the story of business, spanning legacy companies to the world’s new generation of innovators. Fortune measures corporate performance through rigorous benchmarks, and holds companies accountable, in regions around the world. Its iconic rankings include Fortune 500, Fortune Global 500, Most Powerful Women, and World’s Most Admired Companies. Fortune builds world-class communities by convening industry thought leaders for exclusive summits and conferences, including the Fortune Global Forum , Fortune Brainstorm Tech, and Fortune Most Powerful Women. For more information, visit fortune.com.

Media Contacts:

Patrick Reilly
Fortune
Patrick.Reilly@fortune.com

Charmian Choo
Fortune in Asia
Charmian.CHOO@fortune.com

Chelsea Hudson
Fortune
Chelsea.Hudson@fortune.com

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SOURCE Fortune Media (USA) Corporation