Top NASDAQ Performer Hollysys Automation Technologies Ltd. (HOLI), Stock Soars after Company Establishes Strong Foothold in High-End Thermal Power Automation Industry
(December 29, 2011) Shares of Hollysys Automation Technologies Ltd. (NASDAQ: HOLI), a China-based company, soared in trading on Thursday. The Hollysys Automation stock ended the day 16.62% higher on above average volume.
Hollysys shares soared in trading on Thursday after the company announced that it was awarded three separate contracts by different power corporations in China to supply its proprietary industrial Distributed Control Systems (DCS) to 6X660MW ultra-supercritical thermal power generating units in aggregate. Hollysys expects the delivery to be completed by the end of 2012.
Hollysys’ three DCS contract wins include 2X660MW ultra-supercritical thermal power generating units of Yuejiang Thermal Power Plant constructed by Guangdong Yudean Group Co. Ltd. in Guangdong Province, 2X660MW units of Dianta Thermal Power Plant by Shenhua Shendong Power Company Ltd. in Shaanxi Province, and 2X660MW units of Guizhou Panxian Thermal Power Plant by Guangxi Investment Group in Guizhou Province.
Dr. Changli Wang, Chairman and CEO of Hollysys, said that the company is pleased to have established a strong foothold in high-end thermal power automation and control market in China evidenced by a string of DCS contract wins of 660MW power generating units, which have been pretty much dominated by multi-national corporations.
About Hollysys Automation Technologies Ltd.: Hollysys Automation Technologies Ltd. provides automation and control technologies and applications in China.
- The Hollysys Automation stock has a 52-week range of $4.54-$18.15.
- The stock trades on a daily average volume of 230,055.
- The stock is currently trading above its 50-day moving average, which is a bullish signal.
- The stock’s MACD has crossed the signal line on the upside, which is a strong bullish signal.
Hollysys announced that it was awarded three separate contracts by different power corporations in China. The company’s shares soared following the announcement.