Kuaishou Technology to Become Constituent of Hong Kong's Hang Seng Index

Rhea-AI Summary

Kuaishou Technology (Stock Code: 01024/81024) announces its inclusion in the Hang Seng Index (HSI), effective December 9, 2024, following Hang Seng Indexes Company's review on November 22, 2024. The company will also join the HSI ESG Enhanced Index and HSI ESG Enhanced Select Index.

This inclusion reflects market recognition of Kuaishou's business performance and growth prospects, potentially enhancing trading liquidity and market valuation. The HSI, a major Hong Kong stock market indicator, selects constituents based on market value, turnover, industry group weighting, and financial performance.

Positive

• Inclusion in the prestigious Hang Seng Index, potentially increasing visibility and trading volume
• Addition to ESG Enhanced indices, improving ESG profile and attractiveness to sustainable investors
• Expected enhancement in trading liquidity and market valuation

Negative

• None.

HONG KONG, Nov. 24, 2024 /PRNewswire/ -- Kuaishou Technology ("Kuaishou" or the "Company"; HKD Counter Stock Code: 01024 / RMB Counter Stock Code: 81024), a leading content community and social platform, is pleased to announce that the Company has been selected and will be included as a constituent stock of the Hang Seng Index (HSI), effective from December 9, 2024, following the results of the Hang Seng Indexes Company's review of the Hang Seng Family of Indexes, released on November 22, 2024.

The Company believes that this inclusion reflects the capital market's recognition of the Company's outstanding business performance and growth prospects. It marks an important milestone in the Company's business development and is expected to further enhance the Company's trading liquidity and valuation in the capital market.

In addition, Kuaishou will be included in the HSI ESG Enhanced Index and HSI ESG Enhanced Select Index, effective from December 9, 2024, highlighting the Company's long-standing commitment to social responsibilities and sustainable development.

The HSI is one of the most widely quoted Hong Kong stock market indicators by global capital markets. The enhanced HSI will strengthen its coverage of the major Industry Groups, maintaining its status as the key benchmark for the overall performance of the Hong Kong stock market. Hang Seng Indexes Company Limited selects HSI's constituent stocks using rigorous criteria, taking into consideration different aspects of a candidate company including its market value and turnover, its index weighting by Industry Group, and its financial performance, among others.

About Kuaishou

Kuaishou is a leading content community and social platform in China and globally, committed to becoming the most customer-obsessed company in the world. Kuaishou uses its technological backbone, powered by cutting-edge AI technology, to continuously drive innovation and product enhancements that enrich its service offerings and application scenarios, creating exceptional customer value. Through short videos and live streams on Kuaishou's platform, users can share their lives, discover goods and services they need and showcase their talent. By partnering closely with content creators and businesses, Kuaishou provides technologies, products, and services that cater to diverse user needs across a broad spectrum of entertainment, online marketing services, e-commerce, local services, gaming, and much more.

Forward-Looking Statements

Certain statements included in this press release, other than statements of historical fact, are forward-looking statements. Forward-looking statements generally can be identified by the use of forward-looking terminology such as "may", "might", "can", "could", "will", "would", "anticipate", "believe", "continue", "estimate", "expect", "forecast", "intend", "plan", "seek", or "timetable". These forward-looking statements, which are subject to risks, uncertainties, and assumptions, may include our business outlook, estimates of financial performance, forecast business plans, growth strategies and projections of anticipated trends in our industry. These forward-looking statements are based on information currently available to the Group and are stated herein on the basis of the outlook at the time of this press release. They are based on certain expectations, assumptions and premises, many of which are subjective or beyond our control. These forward-looking statements may prove to be incorrect and may not be realized in the future. Underlying these forward-looking statements are a large number of risks and uncertainties. In light of the risks and uncertainties, the inclusion of forward-looking statements in this press release should not be regarded as representations by the Board or the Company that the plans and objectives will be achieved, and investors should not place undue reliance on such statements. Except as required by law, we are not obligated, and we undertake no obligation, to release publicly any revisions to these forward-looking statements that might reflect events or circumstances occurring after the date of this press release or those that might reflect the occurrence of unanticipated events.

For investor and media inquiries, please contact:
Kuaishou Technology
Investor Relations
Email: ir@kuaishou.com

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SOURCE Kuaishou Technology

FAQ

When will Kuaishou Technology (KSHTY) be added to the Hang Seng Index?

Kuaishou Technology will be added to the Hang Seng Index on December 9, 2024.

Which indices will Kuaishou Technology (KSHTY) be included in besides the Hang Seng Index?

Besides the Hang Seng Index, Kuaishou Technology will be included in the HSI ESG Enhanced Index and HSI ESG Enhanced Select Index.

What are Kuaishou Technology's (KSHTY) stock codes on the Hong Kong Exchange?

Kuaishou Technology trades under stock code 01024 for the HKD counter and 81024 for the RMB counter.