The China Fund, Inc. Records Third Quarter Results

Rhea-AI Summary

The China Fund, Inc. (NYSE: CHN) reported its financial results for the third fiscal quarter ending July 31, 2020. The Fund achieved net investment income of $1,130,724, down from $1,561,770 the previous year. It recorded net realized and unrealized gains of $81,335,467, significantly up from $55,532,696 a year before. The total net assets reached $306,900,128, with a net asset value per share of $29.30. The combined distribution of $1.3843 per share was made in December 2019.

Positive

• Net realized and unrealized gains increased to $81,335,467.
• Total net assets grew to $306,900,128.
• Net asset value per share reached $29.30.

Negative

• Net investment income decreased to $1,130,724 from $1,561,770.

NEW YORK, Sept. 15, 2020 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for its third fiscal quarter ended July 31, 2020.  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 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.

	Nine Months Ended July 31, 2020	Twelve Months Ended October 31, 2019	Nine Months Ended July 31, 2019
Net Investment Income	$1,130,724	$1,561,770	$1,340,646
Net Investment Income Per share	$0.11	$0.15	$0.12
Net Realized and Unrealized Gains on Investments and Foreign Currency Transactions	$81,335,467	$55,532,696	$53,940,952
	Nine Months Ended July 31, 2020	Twelve Months Ended October 31, 2019	Nine Months Ended July 31, 2019
Net Realized and Unrealized Gains on Investments and Foreign Currency Transactions Per Share	$7.77	$5.21	$5.03
Total Net Assets	306,900,128	$242,936,717	$242,654,994
Net Asset Value	$29.30	$22.80	$22.61
Shares Outstanding	10,473,095	10,655,325	10,731,628

The Fund's total net assets on July 31, 2020 were $306,900,128 and its net asset value per share was $29.30 based on 10,473,095 shares outstanding. A combined distribution of $1.3843 per share from net investment income and realized gains was made in December 2019.

The China Fund, Inc. 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.

View original content:http://www.prnewswire.com/news-releases/the-china-fund-inc-records-third-quarter-results-301131768.html

SOURCE The China Fund, Inc.

FAQ

What were the China Fund's results for Q3 2020?

The China Fund reported a net investment income of $1,130,724 and net realized and unrealized gains of $81,335,467 for Q3 2020.

What is the net asset value per share for CHN?

As of July 31, 2020, the net asset value per share for CHN was $29.30.

How much did the China Fund distribute per share in December 2019?

The China Fund made a distribution of $1.3843 per share in December 2019.

What is the total net assets of the China Fund as of July 31, 2020?

The total net assets of the China Fund as of July 31, 2020, were $306,900,128.

How does the China Fund's net investment income compare to last year?

The net investment income decreased to $1,130,724 from $1,561,770 compared to the previous year.