China-based New Energy Systems Group, manufacturer and distributor of lithium ion batteries and consumer branded backup power systems, today announced its addition to the Russell Microcap Index, effective June 24, 2011.
Russell Investments refreshes its list of indexes annually to maintain representation of global equity markets, capitalization and style. Companies are added and removed from the family of indexes according to such changes.
As of June 28, 2011, the Russell Microcap Index Fund had approximately $497 million of assets.
The company said the addition reflects its advancing position, which it also says it plans to continue in the future.
“We are proud to be a part of an index that includes premier companies such as Orbitz Worldwide and Rosetta Stone. It signifies the progress New Energy has made in a short period of time. As we continue to execute our growth strategies in the years ahead, we will strive to deliver significant shareholder value,” New Energy chairman Weihe Yu stated in the press release.
New Energy’s technology is used for mobile phones, laptops, digital cameras, MP3s and a variety of other portable electronic devices. The company distributes its products primarily in China.
For more information visit www.newenergysystemsgroup.com