BOSTON, Feb. 27,
2024 /PRNewswire/ -- The China Fund, Inc. (NYSE: CHN)
today announced its financial results for its first fiscal quarter
ended January 31, 2024.
For the three months ended January 31,
2024, the Fund recorded a net investment loss of
$275,921 or $0.03 per share, versus a net investment loss of
$420,723 or $0.04 per share, for the quarter ended
January 31, 2023. Net realized and
unrealized loss on investments and foreign currency transactions
for the three months ended January 31,
2024 was $11,893,878 or
$1.19 per share, compared to net
realized and unrealized gain on investments and foreign currency
transactions of $60,819,850 or
$5.99 per share, for the three months
ended January 31, 2023.
The Fund's total net assets on January
31, 2024 were $106,253,367 and
its net asset value per share was $10.65 based on 9,975,624 shares outstanding. A
distribution of $0.0185 per share
from ordinary income was declared on December 13, 2023 and paid on January 10, 2024 to shareholders of record on
December 28, 2023.
The table below provides the Fund's total net assets, net asset
value, and share outstanding for various time periods.
|
January 31,
2024
|
October 31,
2023
|
January 31,
2023
|
|
|
|
|
|
Total Net
Assets
|
$106,253,367
|
$119,149,099
|
$170,819,534
|
|
Net Asset
Value
|
$10.65
|
$11.88
|
$16.83
|
|
Shares
Outstanding
|
9,975,624
|
10,029,955
|
10,148,009
|
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.
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SOURCE The China Fund, Inc.
