This Day On The Street
Continue to site
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

Hollysys Automation Technologies Announces Its Nuclear JV Was Granted A Contract Of Automation Control And Protection System For Two Units Of Yangjiang Nuclear Power Station

BEIJING, Sept. 25, 2013 /PRNewswire-FirstCall/ -- Hollysys Automation Technologies, Ltd. (NASDAQ: HOLI) ("Hollysys" or the "Company"), a leading provider of automation and control technologies and applications in China, announced that its nuclear joint venture, China Techenergy Co., Ltd. ("CTEC"), established with China General Nuclear Power Corporation ("CGNPC"), was granted a new contract to commission automation control and reactor protection system for #5 and #6 units of Yangjiang Nuclear Power Station, of which including Hollysys' proprietary Distributed Control System ("HOLLiAS-N DCS") and CTEC's proprietary reactor protection system.

Hollysys' HOLLiAS-N DCS is one of the high-end DCS products Hollysys developed for 1GW level nuclear power plant; it is also named as the "nervous system" used for the nuclear power plant operation's automatic control and operational monitoring during its running process. It requires highly for its technology complexity and reliability. Hollysys' proprietary HOLLiAS-N DCS successfully passed a series of rigorous tests and was successfully installed and operated in #1 unit of Hongyanhe and #1 unit of Ningde Nuclear Power stations and it met all the parameters and delivered outstanding performance.

In the #5 and #6 units of Yangjiang Nuclear Power Station, CTEC's proprietary reactor protection system will be installed for the first time, which is a significant breakthrough for China's proprietary nuclear automation and control technology application.

The Yangjiang Nuclear Power Station in Guangdong province is funded and constructed by a consortium of power corporations led by China General Nuclear Power Corporation. The plant is built to have six one-gigawatt (GW) pressurized water units, #5, 6 units using CGNPC's proprietary ACPR-1000 technology which is promoted based on CPR-1000 technology which was applied to #1, 2, 3, 4 units.

Dr. Changli Wang, Chairman and CEO of Hollysys, commented, "We are pleased of the continuous order flow from CGNPC to our nuclear JV for control systems and reactor protection system products. As the only qualified local automation and control technology provider to the nuclear industry in China, Hollysys will leverage the strategic alliance with the largest nuclear builder and operator in China to further penetrate the nuclear automation and control market both in China and internationally, to create value for our shareholders."

CTEC's current order book is consisted of the following fourteen reactors: #2, 3, 4 units of Hongyanhe Nuclear Power Station, #2, 3, 4 units of Ningde Nuclear Power Station, #1, 2, 3, 4, 5, 6 units of Yangjiang Nuclear Power Station, and #1, 2 units of Fangchenggang Nuclear Power Station.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs