HONG KONG, May 16, 2016 /PRNewswire/ -- New Sports Group Limited ("New Sports" or the "Group") (HKSE stock code: 0299) is pleased to announce that the Group has been included as a constituent of the Morgan Stanley Capital International (MSCI) Hong Kong Small Cap Index, with effect from 31 May after trading hours.
The MSCI global indexes are securities indexes compiled by Morgan Stanley Capital International. With a global coverage, the indexes are among the most widely-used benchmark indexes of international investors around the world. Constituents of the Hong Kong Small Cap Index fulfil a range of requirements, including free float, liquidity and capitalization. Therefore, most of the MSCI constituent stocks are outstanding in performance with long term growth potential.
"The core business of New Sports is the design, development and operation of mobile and web games. The Group completed the acquisition of Kingworld (Beijing) Technology Co., Ltd. at the end of last year, which holds the exclusive rights to develop and operate the official wireless platform and mobile application for Chinese Football Association Super League. We believe that the inclusion to the MSCI Hong Kong Small Cap Index signifies that the transformation of New Sports in its development is favored by the capital market," said Mr. Zhang Xiaodong, chairman of New Sports Group Limited, with pleasure.
"In light of the PRC government's emphasis on the development of sports-related industry, it is the intention of the Group to continue to strengthen and expand the development of such sports-related business by exploring various opportunities for mergers and acquisitions. The Group has currently set up a joint venture in Shenzhen, focusing mainly on sports-related business in the future, including investment in joint football clubs and other sports clubs, operation and management of sports venues and facilities, provision of fitness, sports competition organization, sports advertisement, sports competition training and ticketing agent services. It will also participate in the development planning of joint football clubs with the ultimate target of joining the Chinese Football Association Super League before 2018. The Group has implemented a strategy for future business development and believes that it is well positioned to substantially expand its sports-related business. The management will also spare no efforts in the development the Group's various businesses to reward its shareholders and investors," added Mr. Zhang.
About New Sports
New Sports Group Limited (formerly known as SinoCom Software Group Limited) was established in 1995 and listed on the Main Board of the Stock Exchange of Hong Kong in 2004. Since the end of last year, New Sport's core business has transformed from the provision of software outsourcing development and technical support services to the design and development of mobile and web games and operation of sports-related business.
About Kingworld
Kingworld (Beijing) Technology Co., Ltd. ("Kingworld") was established in 2007 and is principally engaged in the development, operation and sales of interactive entertainment products (including PC online games, mobile games and mobile network applications) for the internet and mobile communication network. Kingworld was acquired by New Sports at the end of 2015 and currently holds the exclusive rights to develop and operate the official wireless platform and the mobile applications for the Chinese Football Association Super League. It is also the exclusive developer and operator of the official mobile applications and related magazines for Beijing Guoan Football Club. "9h Sports," its internet sports culture service platform, chiefly provides a range of services including live match broadcast, interactive videos, electronic sports, sports finance and sports training.
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