Hang Seng Industry Classification System (formerly called Hang Seng Stock Classification System) is a comprehensive system designed for the Hong Kong stock market by Hang Seng Indexes Company Limited. It reflects the stock performance in different sectors. It caters for the unique characteristics of the Hong Kong stock market and maintains the international compatibility with a mapping to international industry classification
General classification guidelines:
i) The sales revenue arising from each business area of a company is the primary parameter of stock classification. Profit or assets will also be taken into consideration where these better reflects the company's business.
ii) A company will be classified into different sectors according to its majority source of sales revenue(or profit or assets if relevant).
iii) Re-classification of a stock's Industry Sector will occur once the company's business has undergone a major change, such as, substantial merger or acquisition.
Industry sectors:
- Energy (能源業)
- Material (源材料業)
- Industrial Goods (工業製品業)
- Consumer Goods (消費品製造業)
- Services (服務業)
- Telecommunications (電訊業)
- Utilities (公共事業)
- Financials (金融業)
- Properties & Construction (地產建築業)
- Information Technology (資訊科技業)
- Conglomerates (綜合企業)
Source of information
The classification of each stock is based on the information available to the public, for example the annual reports and company announcements.
Read more about this topic: Hang Seng
Famous quotes containing the words hang, industry and/or system:
“I must go seek some dewdrops here,
And hang a pearl in every cowslip’s ear.”
—William Shakespeare (1564–1616)
“For almost seventy years the life insurance industry has been a smug sacred cow feeding the public a steady line of sacred bull.”
—Ralph Nader (b. 1934)
“Every political system is an accumulation of habits, customs, prejudices, and principles that have survived a long process of trial and error and of ceaseless response to changing circumstances. If the system works well on the whole, it is a lucky accident—the luckiest, indeed, that can befall a society.”
—Edward C. Banfield (b. 1916)