On November 21, 2021 Innovent Biologics, Inc. ("Innovent") (HKEX: 01801), a world-class biopharmaceutical company that develops, manufactures and commercializes high quality medicines for the treatment of oncology, metabolic, autoimmune and other major diseases, reported the Company’s stock is included in the Hang Seng China Enterprises Index (HSCEI) according to the Hang Seng Indexes Company’s latest results of review (Press release, Innovent Biologics, NOV 21, 2021, View Source [SID1234595869]). The inclusion will take effect on December 6, 2021.
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The HSCEI is one of the most influential indexes in the Hong Kong and global stock markets, as constituted by 50 leading China enterprises listed on the Hong Kong Stock Exchanges with outstanding market cap and trading volume. Innovent is the first and only biopharmaceutical company listed under Chapter 18A of the Hong Kong Stock Exchanges to be included in the HSCEI, and the inclusion could indicate potential additional capital inflow from passive index funds.
Mr. Ronald Ede, Executive Director and CFO of Innovent, stated, "We are excited that our stock is included into the HSCEI, following the successful inclusion in the Hang Seng Composite Index and the Stock Connect last year. The recognition by capital market is another key milestone in the tenth year’s journey of Innovent. As for the next decade, Innovent will be fully committed to transforming ourselves from a leading Chinese biopharma to a world-class global biopharma company equipped with the strategy of innovation and globalization. We sincerely appreciate the long-term trust from our patients, medical community, employees and shareholders along the journey. We will continue being devoted to our mission of’To develop and commercialize high-quality biopharmaceutical products that are affordable to ordinary people.’"