IMPRO PRECISION BECOMES A CONSTITUENT STOCK IN HANG SENG COMPOSITE INDEX
On 21 February 2020 after trading hours, Hang Seng Indexes Company Limited announced the results of its review of the Hang Seng Family of Indexes for the period ended 31 December 2019. Impro Precision Industries Limited (“Impro Precision”, stock code: 1286), a global top 10 manufacturer of high-precision, high-complexity and mission-critical casting and machined components, is pleased to announce its inclusion as a constituent stock in Hang Seng Composite Index (“HSCI”) by the Hang Seng Indexes Company Limited effective from 9 March 2020. Meanwhile, inclusion as a constituent stock in HSCI signifies that according to the prevailing Shenzhen Stock Exchange’s Shenzhen-Hong Kong Stock Connect (“SZHK Stock Connect”) eligible stocks selection requirement, it is very likely that Impro Precision will also be selected as a constituent stock of SZHK Stock Connect effective from 9 March 2020.
Mr. Lu Ruibo, Chairman and Chief Executive Officer of Impro Precision, said, “Being included in the Hang Seng Composite Index shortly after our listing on 28 June 2019 is a truly recognition of our solid business performance by the equity market. It is also conducive to the expansion of our shareholder base and further improvement in our stock liquidity. Looking ahead, we will continuously implementing “Twin Growth Engines” strategy to expand global business network and create greater returns to our shareholders.
HSCI offers a comprehensive Hong Kong market benchmark that currently includes 476 companies which covers the top 95% of the total market capitalisation of companies listed on the Main Board of the Stock Exchange of Hong Kong. Adopting the free-float-adjusted market capitalisation methodology, the HSCI can be used as a basis for index funds, mutual funds as well as performance benchmarks.
About Impro Precision Industries Limited
Impro Precision Industries Limited, was founded in 1998 in Wuxi City and its global headquarters was moved to Hong Kong in 2011. The Group is a global top 10 manufacturer of high-precision, high-complexity and mission-critical casting and machined components for diverse end-markets. According to the Roland Berger Report, the Group was the world’s 7th largest independent and China’s largest investment casting manufacturer and also the world’s 4th largest precision machining company in the end-markets of automotive, aerospace and hydraulics, each in terms of total revenue in 2018. The Group was also one of the few domestic suppliers offering one-stop solutions, including initial research and development, tooling design and manufacturing, casting, heat treatment, secondary machining and surface treatment. Impro Precision has established global footprint of 15 production facilities in China, Turkey, Germany, the Czech Republic and Mexico, which are supported by 9 sales offices in China, America, Luxembourg, Germany, Turkey and Hong Kong, as well as warehousing capacities in China, America, Luxembourg and Turkey. The Group has established long-term strategic cooperative relationships with a number of globally recognized industry leaders, selling its products to more than 30 countries and regions.