Hollysys Automation Technologies Ltd. manufactures automation and control systems. The Company produces process, industrial, rail and subway, and nuclear power plant automation equipment.
It is alleged in an open letter dated 15 Jul 2014 that the company understated the bad debts associated with its Instrument business.
Hollysys Automation Technologies: 2015-2016 Annual Report, 23 Sep 2016
Seeking Alpha: Is HollySys Hiding Something?, 15 Sep 2014