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HONG KONG, Nov 14, 2022 - (ACN Newswire) - China Resources Pharmaceutical Group Limited ("CR Pharmaceutical" or the "Group") (stock code: 3320) has announced that the Group will once again be included as a constituent stock of the MSCI China Index, which will become effective after the market close on 30 November 2022.
The MSCI Indexes are key benchmarks for institutional investors investing in the global equity markets, and cover companies with positive operating performance and solid potential. The selected stocks must meet the market capitalization, liquidity and free-float requirements, and thus have a high reference value. The MSCI China Indexes consist of a range of country, composite and non-domestic indexes for the Chinese market, intended for both international and domestic investors, including Qualified Domestic Institutional Investors (QDII) and Qualified Foreign Institutional Investors (QFII) licensees. The indexes are calculated according to the MSCI Global Investable Market Indexes (GIMI) Methodology.
The inclusion of the Group in the MSCI China Index reaffirms the market's recognition of the Group's business development. CR Pharmaceutical's share price has been on a valuation recovery trajectory since 2022. The Group's innovative and transformative strategy and stable business performance have been widely recognized by the market. As at the end of October, the Group's market capitalization increased by almost 50% compared with the beginning of the year, and stock activity also increased year-over-year. As a result of this inclusion in the MSCI China Index, a large number of passive indices funds are expected to purchase the Company's shares. This will further improve the Company's performance in the stock market.
In the future, CR Pharmaceutical will uphold its mission of "being the guardian of human health and improving quality of life". It will continue to optimize its business structure and consolidate its leading position in the industry with R&D innovation and investment in M&A as its engines. This will bring favorable returns to its shareholders and contribute to the growth of the health industry in China.
China Resources Pharmaceutical Group Limited
China Resources Pharmaceutical Group Limited ("CR Pharm", stock code: 3320) is a leading integrated pharmaceutical company in China. It primarily engages in the research and development, manufacturing, distribution and retailing of an extensive range of pharmaceutical and healthcare products. CR Pharm is one of the largest pharmaceutical enterprises (manufacturing 600 products), the largest manufacturer of over-the-counter drugs and the third largest distributor of pharmaceutical products in China. Its pharmaceutical distribution network comprises approximately 200 subsidiaries, and covers 28 provinces, municipalities and autonomous regions in the country, distributing products direct to local hospitals and other medical institutions. It also operates one of the largest retail pharmacy networks in China, consisting of 787 pharmacies under premium brands including "Dexin Pharmacy" and "CR Care", and 221 of them are DTP pharmacies.
Topic: Press release summary
Source: China Resources Pharmaceutical Group Ltd
Sectors: Daily Finance, Healthcare & Pharm
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From the Asia Corporate News Network
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