HOLI - Hollysys Finds Its Future In Its Past But Investability Is A Real Question

• Hollysys has brought back its founding CEO and announced that it is no longer considering go-private offers.
• Since my last article, the company has changed auditors, changed CEO, and reported FQ4'21 earnings almost eight months after quarter's end, with minimal explanation for any of it.
• Hollysys has a credible opportunity in process automation within China, and perhaps recovery potential in the rail business, but communication with investors has been very poor.
• Hollysys may well be exceptionally cheap here, but I consider it effectively uninvestable given poor/inconsistent communication and no recent information on strategy/strategic priorities.

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