Welcome to our dedicated page for China Fund news (Ticker: CHN), a resource for investors and traders seeking the latest updates and insights on China Fund stock.
The China Fund, Inc. reports developments for a closed-end fund whose common stock traded under CHN, including NAV-based results, distributions, share-repurchase policies and governance actions. Recent company updates center on the Board-approved and stockholder-approved plan of liquidation and dissolution, portfolio liquidation, cash distributions to stockholders and the wind-down of normal fund activities.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
Summary not available.
The China Fund, Inc. (NYSE: CHN) reported its financial results for the first fiscal quarter ending January 31, 2023. The Fund recorded a net investment loss of $420,723 or $0.04 per share, an improvement from a loss of $686,054 or $0.07 per share for the same quarter in 2022. Net realized and unrealized gains on investments reached $60,819,850 or $5.99 per share, recovering from a loss of $36,047,907 or $3.49 per share in the prior year. Total net assets as of January 31, 2023, stood at $170,819,534, with a net asset value per share of $16.83.
The China Fund, Inc. (NYSE: CHN) has announced a new Performance Policy for a potential performance tender offer of up to 25% of its outstanding shares. This offer is contingent on the Fund's performance relative to the MSCI China All Shares Index over the period from January 1, 2023, to December 31, 2027. If the Fund's performance fails to meet the benchmark, the Board will initiate the tender offer on or before March 31, 2028, and subsequently every five years. The Board will exercise discretion on the terms of the offer based on market conditions. This policy does not affect the Fund's existing Discount Management Program, which may be temporarily halted during tender offers.
The China Fund, Inc. (NYSE: CHN) has scheduled its annual stockholder meeting for March 9, 2023, at 11:00 a.m. EST, to be held virtually. Stockholders registered by January 23, 2023 can attend and vote at this meeting. Notices will be sent out on or about February 10, 2023. The Fund aims for long-term capital appreciation through investments in equity securities primarily linked to companies in or deriving significant revenues from China.
The Board of The China Fund, Inc. has declared a capital gain distribution of $0.6748 per share, payable on January 10, 2023, to stockholders of record as of December 28, 2022. The distribution consists entirely of long-term capital gains, with an ex-dividend date set for December 27, 2022. The Fund's Dividend Reinvestment and Cash Purchase Plan allows stockholders to automatically reinvest distributions unless they opt out. The Fund primarily invests in companies trading in China or deriving revenue from China, with shares traded under the ticker symbol CHN.