Welcome to our dedicated page for CHINA FUND news (Ticker: CHN), a resource for investors and traders seeking the latest updates and insights on CHINA FUND stock.
CHINA FUND, INC. (NYSE: CHN) is a premier closed-end equity mutual fund, expertly managed by Allianz Global Investors U.S. LLC. The Fund is dedicated to leveraging the dynamic public equity markets of China, encompassing the People's Republic of China, Hong Kong, and Taiwan. By investing in a diverse array of sectors, the Fund seeks to offer substantial long-term capital appreciation to its shareholders.
Founded on April 28, 1992, and domiciled in the United States, CHINA FUND, INC. has established itself as a prominent player in the investment community. The Fund's strategic investment approach involves a combination of fundamental analysis with a bottom-up methodology and quantitative analysis to curate its investment portfolio. The performance of this meticulously crafted portfolio is benchmarked against the MSCI Golden Dragon Index.
The Fund's investments span a broad spectrum of industries, including Insurance, Entertainment, Machinery, Electrical Equipment, Beverages, Hotels, Restaurants, and Leisure, amongst others. This diversification not only mitigates risk but also broadens the potential for substantial returns.
As of July 31, 2023, CHINA FUND, INC. reported significant financial results. The Fund's total net assets stood at $145,190,141, with a net asset value per share of $14.44. For the nine months ending July 31, 2023, it recorded a net investment income of $556,690 or $0.06 per share, a notable improvement from the net investment loss of $145,455 or $0.01 per share in the same period the prior year. Moreover, the Fund achieved a net realized and unrealized gain on investments and foreign currency transactions amounting to $35,358,192 or $3.52 per share.
In recent updates, for the three months ending January 31, 2024, the Fund faced a net investment loss of $275,921 or $0.03 per share. The period also saw a net realized and unrealized loss on investments and foreign currency transactions totaling $11,893,878 or $1.19 per share. Despite these losses, the Fund's total net assets were $106,253,367, with a net asset value per share of $10.65.
CHINA FUND, INC. remains committed to its objective of achieving long-term capital appreciation by primarily investing in equity securities of companies with significant operations in China. Although the Fund is permitted to engage in direct equity investments in companies organized within China, it currently holds no such direct investments. The Fund's shares are actively traded on the New York Stock Exchange under the ticker symbol "CHN" and are managed by Matthews International Capital Management, LLC.
For more detailed information and regular updates on the Fund's holdings, financial performance, and other relevant data, investors are encouraged to visit the Fund's official website or contact their investor relations through (888)-CHN-CALL.
The China Fund, Inc. (NYSE: CHN) reported its financial results for the third fiscal quarter ended July 31, 2024. Key highlights include:
- Net investment income of $1,408,498 ($0.14 per share) for the nine months ended July 31, 2024, compared to $556,690 ($0.06 per share) for the same period in 2023.
- Net realized and unrealized loss on investments and foreign currency transactions of $4,133,400 ($0.42 per share) for the nine-month period, versus a gain of $35,358,192 ($3.52 per share) in the previous year.
- Total net assets of $114,646,675 as of July 31, 2024, with a net asset value per share of $11.61 based on 9,871,307 shares outstanding.
- A distribution of $0.0185 per share from net investment income was paid in January 2024.
The China Fund, Inc. (NYSE: CHN) reported its financial results for the first fiscal quarter ending January 31, 2023. The Fund recorded a net investment loss of $420,723 or $0.04 per share, an improvement from a loss of $686,054 or $0.07 per share for the same quarter in 2022. Net realized and unrealized gains on investments reached $60,819,850 or $5.99 per share, recovering from a loss of $36,047,907 or $3.49 per share in the prior year. Total net assets as of January 31, 2023, stood at $170,819,534, with a net asset value per share of $16.83.
The China Fund, Inc. (NYSE: CHN) has announced a new Performance Policy for a potential performance tender offer of up to 25% of its outstanding shares. This offer is contingent on the Fund's performance relative to the MSCI China All Shares Index over the period from January 1, 2023, to December 31, 2027. If the Fund's performance fails to meet the benchmark, the Board will initiate the tender offer on or before March 31, 2028, and subsequently every five years. The Board will exercise discretion on the terms of the offer based on market conditions. This policy does not affect the Fund's existing Discount Management Program, which may be temporarily halted during tender offers.
The China Fund, Inc. (NYSE: CHN) has scheduled its annual stockholder meeting for March 9, 2023, at 11:00 a.m. EST, to be held virtually. Stockholders registered by January 23, 2023 can attend and vote at this meeting. Notices will be sent out on or about February 10, 2023. The Fund aims for long-term capital appreciation through investments in equity securities primarily linked to companies in or deriving significant revenues from China.
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