BOSTON, Sept. 9, 2024 /PRNewswire/ — The China Fund, Inc. (NYSE: CHN) today announced its financial results for its third fiscal quarter ended July 31, 2024.
For the nine months ended July 31, 2024, the Fund recorded net investment income of $1,408,498 or $0.14 per share, versus net investment income of $556,690 or $0.06 per share, for the nine months ended July 31, 2023. Net realized and unrealized loss on investments and foreign currency transactions for the nine months ended July 31, 2024 was $4,133,400 or $0.42 per share, compared to net realized and unrealized gain on investments and foreign currency transactions of $35,358,192 or $3.52 per share, for the nine months ended July 31, 2023.
The Fund’s total net assets on July 31, 2024 were $114,646,675 and its net asset value per share was $11.61 based on 9,871,307 shares outstanding. A distribution of $0.0185 per share from net investment income was declared in December 2023 and paid in January 2024.
The table below provides the Fund’s total net assets, net asset value, and shares outstanding for various time periods.
|
July 31, 2024 |
October 31, 2023 |
July 31, 2023 |
|
|
Total Net Assets |
$114,646,675 |
$119,149,099 |
$145,190,141 |
|
Net Asset Value Per Share |
$11.61 |
$11.88 |
$14.44 |
|
Shares Outstanding |
9,871,307 |
10,029,955 |
10,051,449 |
The Fund is a closed-end management investment company with the objective of seeking long-term capital appreciation by investing primarily in equity securities of (i) companies for which the principal securities trading market is in the People’s Republic of China (“China”), or (ii) 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 each case derive at least 50% of their revenues from goods and services sold or produced, or have at least 50% of their assets, in China. While the Fund is permitted to invest in direct equity investments of companies organized in China, it presently holds no such investments. Shares of the Fund are listed on the New York Stock Exchange under the ticker symbol “CHN”. The Fund’s investment manager is Matthews International Capital Management, LLC.
Past performance is not indicative of future results. You should consider the Fund’s investment objectives, risks, and charges and expenses carefully before you invest.
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.
SOURCE The China Fund, Inc.