IRVINE, CA, July 09, 2026 (GLOBE NEWSWIRE) -- Foxx Development Holdings Inc. ("Foxx Development" or the "Company") (Nasdaq: FOXX), a leading provider of consumer electronics and integrated Internet-of-Things (IoT) solutions for retail and institutional clients, today announced that the Company was added to the Russell Microcap® Value Benchmark Index and the Russell 3000E™ Value Benchmark as part of the 2026 Russell indexes reconstitution. The changes took effect after the close of U.S. equity markets on Friday, June 26, 2026. Membership in the Russell Microcap® Index, which Foxx Development first joined in 2025, carries automatic inclusion in the applicable Russell style (growth or value) benchmarks.
The Russell US Indexes are reconstituted on a semi-annual basis, in June and December, with style classifications determined annually as part of the June reconstitution. The June reconstitution ranks up to the 4,000 largest U.S. companies by total market capitalization as of the April 30 rank day. FTSE Russell determines membership primarily through an objective, rules-based methodology using market-capitalization rankings and style attributes, and there is no application or fee to be included.
What’s more, style assignments, growth or value, are based on measurable inputs such as book-to-price ratio and forecast growth. They also reflect a company's style characteristics under FTSE Russell's methodology rather than any assessment of investment merit.
"Inclusion in the Russell Microcap® Value Benchmark Index and the Russell 3000E™ Value Benchmark reflects Foxx Development's continued presence in the U.S. public markets as we work to build a durable consumer electronics and IoT business," said Greg Foley, Chief Executive Officer of Foxx Development. "We believe broader representation across the Russell indexes can enhance our visibility with institutional investors and the index-tracking funds that reference these benchmarks as we continue to execute on our long-term strategy."
Russell indexes are widely used by institutional investors and investment managers as benchmarks for active strategies and as the basis for index funds and other passive vehicles. According to FTSE Russell, approximately $12.2 trillion in investor assets were benchmarked to, or invested in products based on, the Russell US Indexes as of June 30, 2025.
Index inclusion does not guarantee any particular level of trading volume, liquidity, share price, or investment return, and does not constitute a recommendation to buy, sell, or hold any security. FTSE Russell may add or remove companies at future reconstitutions based on market capitalization, style characteristics, or other eligibility criteria.
For more information on the Russell US Indexes and the reconstitution process, visit the "Russell Reconstitution" section of the FTSE Russell website at www.ftserussell.com.
About FTSE Russell, an LSEG Business
FTSE Russell is a global index leader that provides benchmarking, analytics, and data solutions for investors worldwide. FTSE Russell calculates thousands of indexes that measure and benchmark markets and asset classes in more than 70 countries, covering approximately 98% of the investable market globally. Approximately $21.2 trillion is benchmarked to FTSE Russell indexes, which are used extensively by asset owners, asset managers, ETF providers, and investment banks to benchmark investment performance and to create index-based products. FTSE Russell applies a transparent, rules-based methodology informed by independent committees of leading market participants, adheres to the IOSCO Principles, and is wholly owned by London Stock Exchange Group (LSEG). For more information, visit www.ftserussell.com.
About Foxx Development Holdings Inc.
Foxx Development is a consumer electronics and integrated Internet-of-Things (IoT) solution company catering to both retail and institutional clients. With robust research and development capabilities and a strategic commitment to cultivating long-term partnerships with mobile network operators, distributors and suppliers around the world, it currently sells a diverse range of products including mobile phones, tablets and other consumer electronics devices throughout the United States, and is in the process of developing and distributing end-to-end communication terminals and IoT solutions. For more information, please visit http://foxxusa.com and http://ir.foxxusa.com.
Forward-Looking Statements
This press release contains "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact — including, without limitation, statements regarding the Company's belief that inclusion in the Russell Microcap® Value Benchmark Index and the Russell 3000E™ Value Benchmark may enhance its visibility with institutional investors and index-tracking funds, and statements regarding the Company's strategy, growth, and future business — are forward-looking statements. Words such as "believe," "expect," "intend," "may," "will," "anticipate," "plan," "continue," and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these words.
These statements are based on management's current expectations and are subject to known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied. Such factors include, among others, risks relating to the Company's financial condition and results of operations; its ability to maintain compliance with the continued listing requirements of The Nasdaq Stock Market; the timing of its periodic reports and other filings with the U.S. Securities and Exchange Commission (the "SEC"); general economic, industry, and market conditions; and the other risks and uncertainties described in the Company's filings with the SEC, including its most recent Annual Report on Form 10-K and subsequent Quarterly Reports on Form 10-Q. Index inclusion is determined solely by FTSE Russell and does not reflect any view, endorsement, or recommendation of the Company by FTSE Russell or LSEG. Readers are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date of this release. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events, or otherwise.
Investor Relations Contact:
International Elite Capital
Annabelle Zhang
Telephone: +1 (646) 866-7928
Email: foxx@iecapitalusa.com
