Hollysys Automation Technologies, Ltd. ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, announced today that it signed two significant contracts to provide the Automatic Train Protection (ATP) equipment and system for two batches of high-speed trains in 200-250km/h and 300-350km/h, with the contract size for each of RMB 179.98 million or USD $29.35 million, and RMB 507.36 million or USD $82.74 million approximately.
Recall, the on-board signaling equipment ATP (Automatic Train Protection), works together with the ground-based signaling equipment TCC (Train Control Center) as the critical control elements in the high-speed railway signaling systems to ensure the safety and reliability of the high-speed railway operation.
Hollysys' management commented, "We feel excited about the two significant high-speed rail contract wins. Hollysys proved its strong R&D capability, extraordinary project management, and high-quality products evidenced by a successful track record of high-speed rail lines, including the recently operated Xiamen-Shenzhen line, Xi'an-Baoji line, Chongqing-Lichuan line, and Wuhan-Xianning line, which are equipped with our high-speed rail signaling system. In the future, Hollysys will continue to work closely with the China Railway Corporation and national railway authorities, leveraging its strong R&D capability, effective management, and high-quality products and service, make more contribution to China's railway construction and explore the vast rail and subway opportunities both in China and abroad, and create value for our shareholders."
About Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI)
Hollysys Automation Technologies is a leading provider of automation and control technologies and applications in China that enables its diversified industry and utility customers to improve operating safety, reliability, and efficiency. Founded in 1993, Hollysys has approximately 3,800 employees with nationwide presence in over 60 cities in China, with subsidiaries and offices in Singapore, Malaysia, Dubai, India, and serves over 5,000 customers more than 20,000 projects in the industrial, railway, subway & nuclear industries in China, South-East Asia, and the Middle East. Its proprietary technologies are applied in its industrial automation solution suite including DCS (Distributed Control System), PLC (Programmable Logic Controller), RMIS (Real-time Management Information System), HAMS (HolliAS Asset Management System), OTS (Operator Training System), HolliAS BATCH (Batch Application Package), HolliAS APC Suite (Advanced Process Control Package), SIS (Safety Instrumentation System), high-speed railway signaling system of TCC (Train Control Center), ATP (Automatic Train Protection), Subway Supervisory and Control platform, SCADA (Surveillance Control and Data Acquisition), nuclear conventional island automation and control system and other products.