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HONG KONG, May 31, 2016 - (ACN Newswire) - Chiho-Tiande Group Limited ("Chiho-Tiande" or the "Company", together with its subsidiaries, the "Group", stock code: 976.HK), the largest importer of Mixed Metal Scrap for importing, recycling, reusing and processing in the PRC, is pleased to announce today that the Company has been shortlisted as a constituent of the Morgan Stanley Capital International ("MSCI") China Small Cap Index and it will be effective upon the market close on 31 May 2016. This is the first time for Company's inclusion in the Index, which marks a strong recognition and reflection of confidence in the Company's market value by the local and oversea investors.
MSCI is a world-leading provider of investment research and analysis technology, established MSCI China Small Cap Index in 2011 under MSCI Global Small Cap Indexes, is designed to measure the performance of the small cap segment of the Chinese market, which serves as one of the benchmarks most widely used by institutional investors for stock selection and investment. With 426 constituents, the index represents approximately 14% of the free float-adjusted market capitalization of the China equity universe, the selected companies are all having outstanding performance and great potential.
Mr. Tu Jianhua, Chairman and Executive Director of Chiho-Tiande Group Limited said: "We are very excited that Our Group has been shortlisted as a constituent of the MSCI China Small Cap Index, which indicated that our leading positon in mixed metal scrap recycling, disassembling and processing, and resource recycling has been highly recognized by worldwide investors. Since 2016, Our Group has established a renewable oil investment company in China and has completed the acquisition of Yantai Liheng Environmental Protection Technology Co., Ltd., in order to accelerate the business development in waste lubricating oil processing and related businesses. Meanwhile, Our Group has set up a joint venture with ITOCHU Corporation and SUZUKI SHOKAI Co., Ltd. as to further expand our procurement network in Asia. Looking into future, we will further expand our processing capability in metal recycling facilities and our purchase volume of mixed metal, as well as further develop new varieties of renewable resources recycling process. Moreover, we will continue to look for suitable acquisition opportunities within the recycling business in China and overseas. We promised to treasure any opportunity in the development of metal recycling and environmental recycling industries, with a purpose of creating largest value to Our Shareholders."
Topic: Press release summary
Source: Chiho-Tiande Group Limited
Sectors: Daily News
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From the Asia Corporate News Network
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