Prinx Chengshan is included in MSCI China Small Cap Index
HONG KONG, Nov 14, 2019 - (ACN Newswire) - Prinx Chengshan (Cayman) Holding Limited (the "Company" or "Prinx Chengshan"; Stock code: 1809) is pleased to announce that, the Company will be added as a constituent of the MSCI China Small Cap Index, with effect from 26 November this year after trading hours. MSCI ("Morgan Stanley Capital International") is an international company which provides World Indexes and related derivative financial products benchmark while the MSCI index is one of the most widely-used indexes by the portfolio managers as the global investment benchmark. MSCI China Small Cap Index is subordinate to MSCI China Indexes.
It is reported that during the adjustment of the MSCI index, China Small Cap Index added 27 shares, while 23 shares were excluded, covering multiple industries. Although the Company has been listed for only one year, the inclusion to MSCI China Small Cap Index by virtue of its market value, liquidity and industry development is considered as a highly appreciation of the Company's development.
Mr. Che Hongzhi, the Chairman of the Company said, "The management is very honored and delighted about the Company's inclusion to the MSCI China Small Cap Index. The inclusion reflects the capital market's recognition in the development of the Company. We believe this will help introduce more diversified investors, improve the liquidity of the stocks, realize the investment value of the Company and increase the Company's visibility in the capital market. Prinx Chengshan is firm in implementing the core strategies of cost leadership, efficiency drive, competitive differentiation, and global operation. We will continue to improve the six systems including marketing, R&D, manufacturing, procurement, quality, and control, aiming to bring better returns to our shareholders."
About Prinx Chengshan (Cayman) Holding Limited
Prinx Chengshan (Cayman) Holding Limited is a modern enterprise specializing in tire research and development, manufacturing and sales. It is one of the most influential tire companies in China and is headquartered in Rongcheng, Shandong. On October 9, 2018, Prinx Chengshan was listed on the main board of the Hong Kong Stock Exchange with the stock code of 1809.HK. Prinx Chengshan has developed four tire brands, including Prinx, Chengshan, Austone and Fortune, three product categories of TBR, PCR and BIAS, and more than 60 product sub-categories, covering passenger, commercial, industrial, agricultural and some special vehicle tires. Relying on advanced management concepts and excellent product quality, Prinx Chengshan's global market share and brand influence of continuing to grow, with products sold to more than 10,000 domestic retail outlets, and about 130 countries and regions in the world. Meanwhile, it has become the main tire supplier for 24 domestic large-scale vehicle manufacturers such as Sinotruk, Jiangling Motors, Dongfeng Liuzhou Motor, FAW Group, SAIC Hongyan and Qingling Motors.
Sectors: Daily Finance, Daily News
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