Joy Spreader Secures Investments From Blackrock & State Street, Obtains Recognitions From Global Institutional Investors

Since Joy Spreader (06988.HK) was incorporated into the MSCI China Small Cap Index with effect upon the closure of the market on May 27, 2021, the Company secured investments from Blackrock Inc. and State Street Group respectively, the two most influential global institutional investors.

According to Bloomberg data, Blackrock and State Street hold 2,560,000 shares and 629,000 shares of the Company, representing 0.12% and 0.03% of total shares outstanding, respectively.

Blackrock Inc. is the largest asset management institution worldwide. By the end of Q1 2021, the total asset under management of Blackrock peak at 9.0 trillion USD.

State Street Corporation is one of the largest financial services and investment groups globally. By the end of 2020, State Street Corporation has $38.8 trillion USD of assets under custody and administration, as well as 3.5 trillion USD of assets under management.

Investments made by Blackrock and State Street demonstrate strong evidence that Joy Spreader receives significant recognitions from top-tier global financial institutions, which will further empower the Company to optimize the shareholding structure and to implement the international expansion strategy.

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