More Accurately Reflects the Group’s Principal Business Development Direction
HONG KONG — Northern New Energy Holdings Limited (“Northern New Energy” / the “Group”, stock code: 8246) announced that its classification under the Hang Seng Industry Classification System (“HSICS”) has been changed from “Restaurants” to “New Energy Materials”. The change can better reflect the Group’s development focus on new energy business.
HSICS is a comprehensive industry classification system designed for the Hong Kong stock market. It meets the need for a detailed industry classification that can reflect the performance of stocks in different sectors. Northern New Energy is currently classified under the “New Energy Materials” subsector in the “Industrial Engineering” sector under the “Industrials” industry.
Northern New Energy is ready to explore the huge potential of the new energy industry that has the benefit of favourable national policies. The Group will expand its business model from Tianjin to more areas and actively identify capable partners and suitable acquisition opportunities to broaden its customer base, enlarge market share and bring maximum returns to shareholders.