The China Fund, Inc. Records Third Quarter Results

Rhea-AI Summary

The China Fund, Inc. (NYSE: CHN) announced its financial results for Q3 2021, reporting a net investment income of $1,076,354, or $0.10 per share. Net realized and unrealized gains on investments reached $18,152,584. As of July 31, 2021, total net assets stood at $323,747,776, with a net asset value per share of $31.06. The Fund declared a combined distribution of $2.3123 per share in December 2020. The Fund's focus remains on long-term capital appreciation through equity investments primarily tied to the Chinese market.

Positive

• Net investment income increased to $1,076,354 from $675,279 year-over-year.
• Net asset value per share rose to $31.06, up from $29.30 in the same period last year.

Negative

• Total net assets decreased from $329,412,097 to $323,747,776 compared to the previous quarter.
• Net realized and unrealized gains on investments dropped significantly from $104,894,256 year-over-year.

NEW YORK, Sept. 10, 2021 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN) today announced its financial results for its third fiscal quarter ended July 31, 2021.  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.

	Nine Months Ended July 31, 2021	Twelve Months Ended October 31, 2020	Nine Months Ended July 31, 2020
Net Investment Income	$1,076,354	$675,279	$1,130,724
Net Investment Income Per share	$0.10	$0.06	$0.11
Net Realized and Unrealized Gains on Investments and Foreign Currency Transactions	$18,152,584	$104,894,256	$81,335,467

 

	Nine Months Ended July 31, 2021	Twelve Months Ended October 31, 2020	Nine Months Ended July 31, 2020
Net Realized and Unrealized Gains on Investments and Foreign Currency Transactions Per Share	$1.74	$10.04	$7.77
Total Net Assets	$323,747,776	$329,412,097	$306,900,128
Net Asset Value	$31.06	$31.52	$29.30
Shares Outstanding	10,424,861	10,449,992	10,473,095

The Fund's total net assets on July 31, 2021 were $323,747,776 and its net asset value per share was $31.06 based on 10,424,861 shares outstanding. A combined distribution of $2.3123 per share from net investment income and realized gains was made in December 2020.

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:https://www.prnewswire.com/news-releases/the-china-fund-inc-records-third-quarter-results-301373616.html

SOURCE The China Fund, Inc.

FAQ

What were the financial results for The China Fund (CHN) in Q3 2021?

The China Fund reported a net investment income of $1,076,354 and net realized and unrealized gains of $18,152,584.

What is the net asset value per share for CHN as of July 31, 2021?

The net asset value per share for The China Fund is $31.06 as of July 31, 2021.

How much was the distribution per share made by The China Fund in December 2020?

The China Fund made a combined distribution of $2.3123 per share from net investment income and realized gains in December 2020.