THE CHINA FUND, INC. RECORDS THIRD QUARTER 2023/2024 RESULTS

Rhea-AI Summary

The China Fund, Inc. (NYSE: CHN) reported its financial results for the third fiscal quarter ended July 31, 2024. Key highlights include:

- Net investment income of $1,408,498 ($0.14 per share) for the nine months ended July 31, 2024, compared to $556,690 ($0.06 per share) for the same period in 2023.

- Net realized and unrealized loss on investments and foreign currency transactions of $4,133,400 ($0.42 per share) for the nine-month period, versus a gain of $35,358,192 ($3.52 per share) in the previous year.

- Total net assets of $114,646,675 as of July 31, 2024, with a net asset value per share of $11.61 based on 9,871,307 shares outstanding.

- A distribution of $0.0185 per share from net investment income was paid in January 2024.

Positive

• Increased net investment income from $556,690 to $1,408,498 year-over-year
• Distribution of $0.0185 per share paid to shareholders

Negative

• Net realized and unrealized loss of $4,133,400 compared to a gain of $35,358,192 in the previous year
• Decrease in total net assets from $145,190,141 to $114,646,675 year-over-year
• Decline in net asset value per share from $14.44 to $11.61 year-over-year

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.

View original content:https://www.prnewswire.com/news-releases/the-china-fund-inc-records-third-quarter-20232024-results-302242468.html

SOURCE The China Fund, Inc.

FAQ

What was The China Fund's net investment income for Q3 2023/2024?

The China Fund (CHN) reported net investment income of $1,408,498 or $0.14 per share for the nine months ended July 31, 2024.

How did CHN's net realized and unrealized gains/losses compare to the previous year?

CHN reported a net realized and unrealized loss of $4,133,400 for the nine months ended July 31, 2024, compared to a gain of $35,358,192 for the same period in 2023.

What was The China Fund's net asset value per share as of July 31, 2024?

The China Fund's (CHN) net asset value per share was $11.61 as of July 31, 2024, based on 9,871,307 shares outstanding.

Did The China Fund (CHN) pay a distribution in 2024?

Yes, The China Fund (CHN) paid a distribution of $0.0185 per share from net investment income in January 2024.