Nissin Foods Becomes Eligible Trading Stock under Shanghai-Hong Kong Stock Connect
HONG KONG, Mar 13, 2023 - (ACN Newswire) - Nissin Foods Company Limited ("Nissin Foods", and together with its subsidiaries, the "Group"; Stock code: 1475) will become a new eligible stock for trading under the Shanghai-Hong Kong Stock Connect, effective today, 13 March 2023, in accordance with the latest expansion of the scope of eligible stocks under the Stock Connect scheme as announced by the Shanghai Stock Exchange.
The Shanghai-Hong Kong Stock Connect was officially launched in 2014 with the aim of establishing mutual stock market access between Mainland China and Hong Kong. The stock connect allows qualified investors in Mainland China to access eligible Hong Kong shares (Southbound) as well as Hong Kong and overseas investors to trade eligible A shares (Northbound) subject to a certain amount of daily quota. As announced, the scope of eligible stocks will be expanded to include stocks of international companies that are primary listed in Hong Kong, and are 1) constituent stocks of the Hang Seng Composite LargeCap Index or Hang Seng Composite MidCap Index, or 2) constituent stocks of the Hang Seng Composite SmallCap Index with a market capitalisation of HK$5 billion or above. In addition, the scope of eligible stocks for Southbound trading under Shanghai-Hong Kong Stock Connect will be expanded to include constituents of the Hang Seng Composite SmallCap Index with a market capitalisation of HK$5 billion or above.
Mr. Kiyotaka ANDO, Executive Director, Chairman and Chief Executive Officer of Nissin Foods, said "Nissin Foods has experienced steady development in both business and the capital market since its listing in Hong Kong in 2017. I am pleased to see our shares' investment value gradually being released. Being included in Shanghai-Hong Kong Stock Connect is a major milestone in our corporate development, indicating that Nissin Foods will be accessible to more traders in Mainland China through the Shanghai and Shenzhen Stock Connect which the Group earned inclusion earlier. Looking ahead, we will continue to enhance our corporate governance and investor relations with the aim of creating long-term value for our shareholders."
About Nissin Foods Company Limited
Nissin Foods Company Limited (the "Group"; Stock code: 1475) is a renowned food company in Hong Kong and Mainland China with a diversified portfolio of well-known and highly popular brands and the largest instant noodle company in Hong Kong. The Group officially established its presence in Hong Kong in 1984. The Group primarily manufactures and sells instant noodles, frozen foods and other food products under its two core corporate brands, namely "NISSIN" and "DOLL" together with a diversified portfolio of iconic household premium food brands. The Group's five flagship product brands, namely "Cup Noodles", "Demae Iccho", "Doll Instant Noodle", "Doll Dim Sum" and "Fuku" are also among the most popular choices in their respective food product categories in Hong Kong. In the Mainland China market, the Group has introduced technology innovation through the "ECO Cup" concept and primarily focuses its sales efforts in first-and second-tier cities.
Nissin Foods is a constituent of eight Hang Seng Indexes, namely: Hang Seng Composite Index, Hang Seng Consumer Goods & Services Index, Hang Seng Stock Connect Hong Kong Index, Hang Seng Stock Connect Hong Kong MidCap & SmallCap Index, Hang Seng Stock Connect Hong Kong SmallCap Index, Hang Seng SCHK Mainland China Companies Index, Hang Seng SCHK ex-AH Companies Index, and Hang Seng Small Cap (Investable) Index. Nissin Foods is eligible for trading under Shanghai-Hong Kong and Shenzhen-Hong Kong (which included earlier) Stock Connect. For more information, please visit www.nissingroup.com.hk.
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