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Kaisa Group included in Hang Seng Stock Connect Big Bay Area Composite Index
Release Time:2018-05-23 | Source:

 (23 May 2018 - Hong Kong) – Kaisa Group Holdings Limited (“Kaisa” or the “Company”, SEHK stock code: 1638, together with its subsidiaries, the “Group”), a property developer established in Shenzhen with a countrywide foothold in China, is pleased to announce that, the Group is included in Hang Seng Stock Connect Big Bay Area Composite Index, indicated the Group’s outstanding performance in the Bay Area received recognition and drew attention of the market.

 

Hang Seng Stock Connect Big Bay Area Composite Index was officially launched on 21 May 2018. On a freefloat-adjusted market-capitalisation-weighted basis, the index selects top 250 eligible companies based on market capitalization as its constituents. Comprised of Hong Kong-listed and A-shares companies which operate in the nine cities and two Special Administrative Regions (Hong Kong, Macau, Guangzhou, Shenzhen, Zhuhai, Foshan, Zhongshan, Dongguan, Zhaoqing, Huizhou and Jiangmen), the list only includes stocks eligible for trading via Stock Connect scheme, with at least 50% revenue from China, Hong Kong or Macau in the latest financial year.

 

Kaisa Group stated, “As a property developer established in Shenzhen, we have been focusing on the Bay Area market for years. By the end of 2017, the Company’s land bank amounted to 22 million square meters, of which approximately 60% located in the Bay Area. Among the RMB45 billion total contracted sales achieved in 2017, 56% was generated from the Bay Area. Kaisa is honored to become a constituent of Hang Seng Stock Connect Big Bay Area Composite Index, and we always have full confidence in the further enhancement of property value in the Bay Area along with the implementation of its planning in the near term. The Group shall continue to exploit its early mover advantage in the Bay Area to further penetrate into this regional market by leveraging on its strong footholds in Shenzhen, Guangzhou, Huizhou, Dongguan, Foshan, Zhuhai and Zhongshan, and seize the historic opportunity of the economic development in the region.”

 

Followed by the inclusion as a constituent of Hang Seng Composite LargeCap & MidCap Index in March 2018, Kaisa once again achieved appreciation and affirmation from the capital market.