China BAK Battery Added to Russell 3000® Index
China BAK Battery, Inc. Press ReleaseFlashlightNews.org - 06/19/2006
China BAK Battery, Inc.
SHENZHEN, Cn. - China BAK Battery, Inc. (Nasdaq: CBAK), a leading manufacturer of Lithium-Ion (Li-Ion) battery cells in China, today announced that it has been informed it will be included in the Russell 3000 Index, which measures the performance of the 3,000 largest U.S. companies based on total market capitalization, representing approximately 98 percent of the investable U.S. equity market.
Xiangqian Li, the Company's Chief Executive Officer, commented, ''Following our recent transition to the Nasdaq National Market, and the significant achievements made during 2006, we are pleased to be added to the Russell 3000 Index. We believe that our inclusion will enhance our Company's visibility, particularly among investors and institutions that rely on the Russell indices as part of their investment strategy.''
The Russell is the only U.S. index family that is rebuilt to ensure market segments are accurately represented. On May 31, U.S. stocks were ranked by capitalization, determining index membership.
Annual reconstitution of the Russell indexes captures the 3,000 largest U.S. stocks as of the end of May, ranking them by total market capitalization to create the Russell 3000. On June 30, the newly reconstituted Russell U.S. indexes will be effective at the close of the U.S. markets.
About BAK China Battery
China BAK Battery, Inc. is a commercial manufacturer of standard and customized Lithium Ion (Li-ion) rechargeable battery cells for use in various portable electronic applications, including cellular phones, MP3 players, laptop computers, Bluetooth headsets, power tools, and other general industrial applications. BAK's 1.9 million square foot facilities are located in Shenzhen, PRC, and have been recently expanded to produce new proprietary products. BAK is the largest Li-ion replacement battery cell manufacturers in China and one of the top ten in the world.
Forward-Looking Statements
All "forward-looking statements" relating to the business of China BAK Battery, Inc. and its subsidiary companies, which can be identified by the use of forward-looking terminology such as "believes," "expects" or similar expressions, involve known and unknown risks and uncertainties. China BAK Battery, Inc. is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.