External reports (aggregated public sources), Value Investors Club

Value Investors Club (VIC)

External reports (aggregated public sources)

Value Investors Club

Equity Bottom-Up

Plover Bay Technologies / Equity Bottom-Up

<p>Key points <em>(machine generated)</em></p><ul><li>Plover Bay Technologies specializes in reliable internet connectivity for critical applications in challenging environments.</li><li>The company has partnered with Starlink as their first Authorized Technology Partner to enhance multi-WAN bandwidth bonding and fail-over capabilities.</li><li>CEO Alex Chan emphasized the mission to improve connectivity at Peplink's global developer summit in Amsterdam.</li></ul><p><em>This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.</em></p>

Key points (machine generated)Plover Bay Technologies specializes in reliable internet connectivity for critical applications in challenging environments.The company has partnered with Starlink as their first Authorized Technology Partner to enhance multi-WAN bandwidth bonding and fail-over capabilities.CEO Alex Chan emphasized the mission to improve connectivity at Peplink's global developer summit in Amsterdam.This article is sourced from an online content aggregator through publicly available sources and is displayed below for general informational purposes only. This article was originally published 3 months ago on Value Investors Club.

Plover Bay Technologies Ltd (1532) - Monday, Jul 14, 2025

Contextualizing EM Investment Opportunities, Pyramids and Pagodas

Pyramids and Pagodas

Contextualizing EM Investment Opportunities

Established in 2022, Pyramids and Pagodas aims to cover underreported trends and companies across emerging markets (“EM”), with a particular focus on Asia and the Middle East. Our content targets a broad audience of investors and anyone seeking to capitalize on or learn more about undervalued investment opportunities in these regions. We have skin in the game for these ideas with a view to build a strong track record with demonstrable returns in the long run.

<ul><li>Plover Bay Technologies (1523.HK , “Plover Bay”) with a market cap of approximately USD 739 million, experienced another stellar year with its FY24A annual results, showcasing a notable 24% revenue increase, exceeding the USD 100 million threshold (also known as the “valley of death ”) to reach USD 117 million, while also realizing a 36% YoY growth in net profit, amounting to USD 38 million.</li><li>This success is complemented by strategic partnerships, and ongoing innovation.</li><li>With deepening collaborations, an expanding product line-up, and an emphasis on recurring revenues, Plover Bay is well-positioned for sustained growth in 2025 and beyond.</li></ul>

Plover Bay Technologies (1523.HK , “Plover Bay”) with a market cap of approximately USD 739 million, experienced another stellar year with its FY24A annual results, showcasing a notable 24% revenue increase, exceeding the USD 100 million threshold (also known as the “valley of death ”) to reach USD 117 million, while also realizing a 36% YoY growth in net profit, amounting to USD 38 million.This success is complemented by strategic partnerships, and ongoing innovation.With deepening collaborations, an expanding product line-up, and an emphasis on recurring revenues, Plover Bay is well-positioned for sustained growth in 2025 and beyond.

Plover Bay Technologies (1523.HK) – A Milestone Year with Strong Growth and Expanding Opportunities

Research from Quam Securities, Quam Securities

Quam Securities Research

Research from Quam Securities

Quam Securities

Since its inception in 1986, Quam Securities Limited (Quam Securities) has grown to become one of the few mid-tier securities brokerages in Hong Kong with global execution capabilities for both private and institutional clients. It boasts a well-established network in Greater China including Taiwan and in major world markets through the Global Alliance Partners (GAP). Quam Securities is well-positioned not only to harness and drive business within the China Tonghai International Financial Limited but also between China and the world markets.

<div><div><div><div><ul><li>Plover Bay managed to post a satisfactory set of 1H23 results under the unfavourable global economy’s condition, with net profit increasing by 19.1% y/y to USD12.3mn, which was in line with our expectation.</li><li>Thanks to the wide adoption of its products across many industries, total revenue increased by 11.0% y/y.</li><li>Sales to EMEA grew 14.1% y/y, while sales to N. America increased by 11.3% y/y. An interim DPS of 7.01 HK cents was declared, translating into a payout ratio of 80% (1H22: 80%). </li></ul></div></div></div></div>

Plover Bay managed to post a satisfactory set of 1H23 results under the unfavourable global economy’s condition, with net profit increasing by 19.1% y/y to USD12.3mn, which was in line with our expectation.Thanks to the wide adoption of its products across many industries, total revenue increased by 11.0% y/y.Sales to EMEA grew 14.1% y/y, while sales to N. America increased by 11.3% y/y. An interim DPS of 7.01 HK cents was declared, translating into a payout ratio of 80% (1H22: 80%). 

Plover Bay Technologies Limited - 1H23 Net Profit in Line; Maintain BUY

<div><div><div><div><ul><li>Despite high inflation and unfavourable exchange rate movements, Plover Bay managed to post a decent set of 2022 results, with adj. net profit increasing by 14.7% y/y to USD24.3mn, which was 13% below our expectations.</li><li>Reported profit was up 6.9% y/y due to an FX loss of US$1.7mn.</li><li>Thanks to the wide adoption of its products across many industries, total revenue increased by 17.0% y/y. Sales to North America surged 20.7% y/y, while sales to Asia increased by 19.3% y/y. </li></ul></div></div></div></div>

Despite high inflation and unfavourable exchange rate movements, Plover Bay managed to post a decent set of 2022 results, with adj. net profit increasing by 14.7% y/y to USD24.3mn, which was 13% below our expectations.Reported profit was up 6.9% y/y due to an FX loss of US$1.7mn.Thanks to the wide adoption of its products across many industries, total revenue increased by 17.0% y/y. Sales to North America surged 20.7% y/y, while sales to Asia increased by 19.3% y/y. 

Plover Bay Technologies Limited - Slight Disappointment Did Not Mask Its Superiority

Hong Kong

Plover Bay is the holding company of Peplink. Our vision is to make connectivity reliable through our ecosystem of enterprise LTE/5G routers and software services. Everyday, thousands of enterprises in retail, industrial, public safety, healthcare and government organizations use Peplink technologies in workplaces, factories, outdoor deployments, vehicles, ships, drones, and IoT systems to ensure their network connections are fast and reliable.

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Plover Bay Technologies (1523 HK)

Plover Bay Technologies Ltd (1532) - Monday, Jul 14, 2025

Plover Bay Technologies, known for Peplink routers, partners with Starlink to enhance connectivity for critical applications, emphasizing reliable...

Value Investors Club (VIC)