Reflects Market Recognition of Future Prospects
(6 September 2022, Hong Kong) - CIMC ENRIC Holdings Limited ("CIMC ENRIC" or the "Company") and its subsidiaries (collectively, the "Group") (Hong Kong stock code: 3899.HK) are pleased to announce that the Group has been included in the following indexes: Hang Seng Composite MidCap Index, Hang Seng Composite LargeCap and MedCap Index, Hang Seng Large-Mid Cap (Investable) Index, Hang Seng Large-Mid Cap Quality Comprehensive Index, Hang Seng Large-Mid Cap Value Comprehensive Index, Hang Seng Large-Mid Cap Dividend Yield Comprehensive Index, Hang Seng Large-Mid Cap Momentum Comprehensive Index, Hang Seng Large-Mid Cap Low Volatility Comprehensive Index, Hang Seng Large-Mid Cap Low Size Comprehensive Index. The Group has also been selected as an eligible stock in the Southbound Stock Connect under the Shanghai-Hong Kong Stock Connect, with effect as of 5 September 2022 (Monday).
In the first half of 2022, the Group's performance continued to show strong resilience despite experiencing multiple domestic Covid-19 outbreaks and complex external situations. The 2022 Interim Results showed that the Group achieved solid revenue and net profit growth, with numerous results highlights such as achieving 1.75 times year-on-year growth in the hydrogen business. Against the backdrop of continued positive financial performance, 12 domestic and foreign investment banks, including Citi, Credit Suisse, Morgan Stanley and Huatai Securities, published research reports rating the Group either "Buy" or "Overweight" and assigned an average target price of approximately HKD12.
The Group’s inclusion in the Hang Seng MidCap Index and the Shanghai-Hong Kong Stock Connect fully represents the market recognition of the Group’s comprehensive industrial chain layout which covers clean energy, chemical and environmental, and liquid food segments. The Hang Seng Composite Index covers the top 95% of the total market capitalization of securities listed on the Main Board of the Stock Exchange of Hong Kong ("SEHK"), providing investors with a comprehensive indicator of the overall Hong Kong market. The Hang Seng Composite Index is calculated using the freefloat-adjusted market capitalization weighted methodology and can be used for issuing index funds, mutual funds and performance measurement benchmarks. Listed companies in the Hang Seng Composite Index are required to meet various requirements such as market capitalization and share liquidity as stipulated in its compilation rules.
Ms. Lydia Zhong Yingxin, Company Secretary of CIMC ENRIC, said, "The inclusion of the Group in the Hang Seng Composite MidCap Index and Hang Seng Composite Large-Mid Cap Index and other series of indices and its entry into the Shanghai-Hong Kong Stock Connect reflects investors' recognition and confidence in the Group's development prospects and market value growth. It also represents a significant milestone that offers a new channel for mainland investors to invest in the Group's shares.”
