THE CHINA FUND, INC. RECORDS THIRD QUARTER 2021/2022 RESULTS

Rhea-AI Summary

The China Fund, Inc. (NYSE: CHN) reported a net investment loss of $145,455 or $.01 per share for the nine months ending July 31, 2022, compared to a net investment income of $1,076,354 or $.10 per share in the same period last year. The Fund experienced a net realized and unrealized loss on investments of $77,791,631 or $7.56 per share, contrasting with a gain of $18,152,584 or $1.74 per share a year prior. Total net assets were $159,700,212, with a net asset value of $15.52 per share.

Positive

• Total net assets of $159,700,212.
• Net asset value per share stands at $15.52.

Negative

• Net investment loss of $145,455 or $0.01 per share, down from net income of $1,076,354 or $0.10 per share.
• Net realized and unrealized loss on investments of $77,791,631 or $7.56 per share, compared to a gain of $18,152,584 or $1.74 per share.

BOSTON, Nov. 17, 2022 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for its third fiscal quarter ended July 31, 2022.

For the nine months ended July 31, 2022, the Fund recorded net investment loss of $145,455 or $.01 per share, versus net investment income of $1,076,354 or $.10 per share, for the nine months ended July 31, 2021. Net realized and unrealized loss on investments and foreign currency transactions for the nine months ended July 31, 2022 was $77,791,631 or $7.56 per share, compared to net realized and unrealized gain on investments and foreign currency transactions of $18,152,584 or $1.74 per share, for the nine months ended July 31, 2021.

The Fund's total net assets on July 31, 2022 were $159,700,212 and its net asset value per share was $15.52 based on 10,288,465 shares outstanding. A combined distribution of $7.2669 per share from net investment income and realized gains was declared in December 2021 and paid in January 2022.

	July 31, 2022	October 31, 2021	July 31, 2021
Total Net Assets	$159,700,212	$314,302,451	$323,747,776
Net Asset Value	$15.52	$30.32	$31.06
Shares Outstanding	10,288,465	10,366,808	10,424,861

The Fund is a closed-end management investment company with the objective of seeking long-term capital appreciation by investing primarily in equity securities (i) of companies for which the principal securities trading market is in the People's Republic of China ("China"), or (ii) of companies for which the principal securities trading market is outside of China, or constituting direct equity investments in companies organized outside of China, that in both cases derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China. Whilst the Fund is permitted to invest in direct equity investments of companies organized in China, it presently holds no such investments. The Fund is listed on the New York Stock Exchange under the ticker symbol "CHN".  The Fund's investment manager is Matthews International Capital Management, LLC.

For further information regarding the Fund and the Fund's holdings, please call (888)-CHN-CALL or visit the Fund's website at www.chinafundinc.com.

 

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SOURCE The China Fund, Inc.

FAQ

What were the financial results of The China Fund (CHN) for the third fiscal quarter of 2022?

The China Fund reported a net investment loss of $145,455 or $0.01 per share for the nine months ending July 31, 2022.

How did The China Fund's performance in 2022 compare to 2021?

In 2022, the Fund recorded a net investment loss and a significant decrease in net realized and unrealized gains compared to 2021.

What is the total net asset value of The China Fund (CHN) as of July 31, 2022?

As of July 31, 2022, The China Fund's total net assets were $159,700,212.

What is the net asset value per share for The China Fund (CHN)?

The net asset value per share for The China Fund as of July 31, 2022, was $15.52.