Plover Bay Technologies Will Focus on Developing Cloud Services and IoT-related Products
(IMMEDIATE RELEASE: 10 January 2017, Hong Kong) Plover Bay Technologies Limited (HK stock code: 1523), a world-leading internet connectivity technology company and the world’s fifth largest SD-WAN (Software-defined WAN) vendor (in terms of revenue in 2015) will focus on developing cloud services and IoT (Internet of Things)-related products to enhance the quality of its products, develop new functions and expand its distribution business, in order to broaden its high-growth, high-margin and high-return revenue stream. Plover Bay Technologies is also looking forward to expanding its scope of business to emerging markets and hence enabling users from all over the world to experience the innovative and high-end SD-WAN internet connectivity technologies.
The Group was successfully listed on the Main Board of the Stock Exchange of Hong Kong on 13 July 2016. Primarily engaged in developing and commercializing SD-WAN solutions under its own brands – “Peplink” and “Pepwave”, the Group also grants software license subscriptions and provides warranty and support services in connection with its SD-WAN solutions. Plover Bay announced its interim results in August 2016. For the six months ended 30 June 2016, the revenue and gross profit of the Group increased by approximately 12.1% and approximately 33.2% respectively over the same period last year. Basic earnings per share were approximately US 0.37 cents. For the six months ended 30 June 2016, the Board declared payment of an interim dividend of HK 1.73 cents per share, representing a dividend payout ratio of 80%.
The number of business partners and customers using Plover Bay Technologies’ own branded “Peplink” and “Pepwave” technologies worldwide has grown by each year. A global network of over 400 distributors currently covers more than 70 countries. The Group owns about 20 U.S. patents and over 150 patent applications internationally. InControl cloud services help users manage their devices in a centralized manner and monitor the entire network remotely. The one-of-a-kind SpeedFusion technology enable connections among different providers with up to 13 mixed internet connection methods with enhanced connection capacity and prioritized WAN usage based on availability. This makes unbreakable internet connectivity for mobile and smart connection devices a dream comes true.
About Plover Bay Technologies Limited
Plover Bay Technologies (stock code: 1523) is a world leading Internet connectivity technology company and the world’s fifth largest SD-WAN (Software-Defined WAN) technology vendor (in terms of revenue value in 2015). Primarily engaged in developing and commercializing SD-WAN solutions under its own brands – “Peplink” and “Pepwave”, the Group also grants software licenses and provides warranty as well as support services in connection with its SD-WAN solutions. The Group sells its own branded products to an extensive network of more than 400 distributors in approximately 70 countries. For more details, please visit: www.ploverbay.com.
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