Quam Securities Research

Quam Securities

Equity Bottom-Up

<h2>Plover Bay Technologies Limited (1523 HK)</h2>
<h3>FY20 results in-line, TP revised up to HK1.78</h3>
<p><strong>Plover Bay Technologies (Plover Bay) posted a satisfactory set of FY20 results with net profit increasing by 17.7% y/y to US$12.1mn, in-line with our expectations.  Thanks to solid business growth in all geographical regions, its revenue was up 15.0% y/y to US$52.8mn. A final dividend and a special dividend totaling 8.40 HK cent per share was declared, full-year dividend including the interim payout stood at</strong>…</p>

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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