Tongcheng-Elong Included as a Constituent Stock in the MSCI Global Standard Index
HONG KONG, May 15, 2020 /PRNewswire/ -- Tongcheng-Elong Holdings Limited ("Tongcheng-Elong" or the "Company", stock code: 0780) is pleased to announce its inclusion as a constituent stock in the MSCI Global Standard Index with an effective date of 1 June 2020.
MSCI stands for Morgan Stanley Capital International Index, a famous index development company in America. MSCI indexes are widely used by investors. As at December 2019, MSCI indexes covered over 3,000 companies in 11 industries and captured large and mid-cap representation across 23 developed markets and 26 emerging markets.
Mr. Ma Heping, the Executive Director and CEO of Tongcheng-Elong, said, "MSCI indexes are influential investment references in the global capital market. Our company is honoured to be included in the MSCI Global Standard Index, which demonstrates that our business model and prospects are highly recognised in the international capital market. Along with the rapid growth of the Chinese travel market and the increasing demand of Chinese consumers for quality services and superior user experience, we will continue to utilize our advantages in traffic and other resources, further penetrate into the Chinese travel market, constantly improve our products and services to better serve our users, and seize business opportunities in low-tier cities."
About Tongcheng-Elong Holdings Limited
Tongcheng-Elong Holdings Limited (the "Company") is a market leader in China's online travel industry. The Company is the combined business resulting from the Tongcheng-eLong Merger, which was completed in March 2018. The Company is a one-stop shop for users' travel needs. With the mission of "We make travel easier and more joyful", the Company offers a comprehensive and innovative selection of products and services covering nearly all aspects of travel, including transportation ticketing, accommodation reservation and various ancillary value-added travel products and services designed to meet users' evolving travel needs throughout their trips. According to iResearch, on a Tongcheng-eLong combined basis, the Company ranked third in terms of GMV in China's online travel market in 2017, with the highest year-over-year growth from 2015 to 2017 in online transportation ticketing and accommodation reservation transactions in China's OTA travel market. Tongcheng and eLong were among the first third-party online service providers operating portals on the mobile payment interface of Tencent's Weixin and were, according to iResearch, among the first OTAs to reach users nationwide through super apps. The Company has been awarded the "Best Mini Program of the Year" by Aladdin Index in 2018 and 2019. The Company is currently the sole operator of the "Rail & Flight" and "Hotel" portals in the mobile payment interface of Tencent's Weixin and Mobile QQ.