NPORT-EX 2 MIMA930Mat093022.htm HTML
Matthews China Small Companies Fund    September 30, 2022
Schedule of Investmentsa (unaudited)   

COMMON EQUITIES: 97.1%

 

      Shares      Value  
 

INDUSTRIALS: 26.2%

 

Machinery: 12.6%

      

Yangzijiang Shipbuilding Holdings, Ltd.

      9,161,300        $6,540,374  

Morimatsu International Holdings Co., Ltd.b,c

     5,404,000        5,467,217  

Zhuzhou Huarui Precision Cutting Tools Co., Ltd. A Shares

      213,354        2,977,645  

Luoyang Xinqianglian Slewing Bearing Co., Ltd. A Shares

      222,000        2,725,436  

Airtac International Group

      113,191        2,589,727  

Leader Harmonious Drive Systems Co., Ltd. A Shares

      83,710        1,647,480  

Estun Automation Co., Ltd. A Shares

      387,600        1,017,836  
     

 

 

 

            22,965,715  
     

 

 

 

     

Electrical Equipment: 5.1%

      

Zhejiang HangKe Technology, Inc., Co. A Shares

      635,384        4,457,408  

Ginlong Technologies Co., Ltd. A Shares

      97,655        3,031,817  

Hongfa Technology Co., Ltd. A Shares

      379,857        1,843,376  
     

 

 

 

        9,332,601  
     

 

 

 

     

Transportation Infrastructure: 3.0%

      

Hainan Meilan International Airport Co., Ltd. H Sharesb

     2,285,000        5,459,439  
     

 

 

 

     

Air Freight & Logistics: 2.3%

      

Milkyway Chemical Supply Chain Service Co., Ltd. A Shares

      235,830        4,127,586  
     

 

 

 

     

Construction & Engineering: 2.0%

      

China State Construction International Holdings, Ltd.

      3,644,000        3,671,991  
     

 

 

 

     

Marine: 0.7%

      

SITC International Holdings Co., Ltd.

      743,500        1,363,530  
     

 

 

 

     

Professional Services: 0.5%

      

China Testing & Certification International Group Co., Ltd. A Shares

      697,695        947,671  
     

 

 

 

Total Industrials

           47,868,533  
     

 

 

 

     
 

INFORMATION TECHNOLOGY: 17.4%

 

Semiconductors & Semiconductor Equipment: 10.7%

 

Alchip Technologies, Ltd.

      210,000        5,675,529  

ACM Research, Inc. Class Ab

     303,268        3,778,719  

Pan Jit International, Inc.

      1,339,000        2,383,819  

StarPower Semiconductor, Ltd. A Shares

      47,992        2,176,097  

Beijing Huafeng Test & Control Technology Co., Ltd. A Shares

      57,468        1,795,857  

Flat Glass Group Co., Ltd. H Sharesb

     585,000        1,415,557  

Sino Wealth Electronic, Ltd. A Shares

      296,939        1,377,182  

Silergy Corp.

      64,000        834,685  
     

 

 

 

        19,437,445  
     

 

 

 

Electronic Equipment, Instruments & Components: 3.4%

 

BOE Varitronix, Ltd.

      1,954,000        3,512,879  

Shenzhen Topband Co., Ltd. A Shares

      1,905,100        2,743,921  

China High Precision Automation Group, Ltd.b,d

     195,000        248  
     

 

 

 

        6,257,048  
     

 

 

 

 

      Shares      Value  

Software: 3.3%

      

Longshine Technology Group Co., Ltd. A Shares

      1,370,844        $4,105,710  

Kingdee International Software Group Co., Ltd.b

     1,517,000        1,977,194  
     

 

 

 

        6,082,904  
     

 

 

 

Total Information Technology

         31,777,397  
     

 

 

 

     
 

CONSUMER DISCRETIONARY: 11.4%

 

Hotels, Restaurants & Leisure: 3.5%

      

BTG Hotels Group Co., Ltd. A Shares

      1,300,400        3,878,821  

Helens International Holdings Co., Ltd.b

     1,770,000        2,437,705  
     

 

 

 

        6,316,526  
     

 

 

 

Textiles, Apparel & Luxury Goods: 2.9%

      

Xtep International Holdings, Ltd.

      3,360,500        3,537,088  

Samsonite International SAb,c,e

     754,500        1,809,596  
     

 

 

 

        5,346,684  
     

 

 

 

     

Auto Components: 2.1%

      

Zhejiang Shuanghuan Driveline Co., Ltd. A Shares

      924,303        3,785,258  
     

 

 

 

     

Automobiles: 1.8%

      

Yadea Group Holdings, Ltd.c,e

     2,118,000        3,385,152  
     

 

 

 

     

Specialty Retail: 1.1%

      

China Yongda Automobiles Services Holdings, Ltd.

      3,919,000        2,099,908  
     

 

 

 

Total Consumer Discretionary

             20,933,528  
     

 

 

 

     
 

CONSUMER STAPLES: 10.6%

 

Food Products: 8.0%

      

Yantai China Pet Foods Co., Ltd. A Shares

      1,156,848        4,766,242  

Anjoy Foods Group Co., Ltd. A Shares

      190,947        4,137,320  

Jonjee Hi-Tech Industrial And Commercial Holding Co., Ltd. A Shares

      651,032        2,889,962  

Chacha Food Co., Ltd. A Shares

      433,800        2,800,795  
     

 

 

 

        14,594,319  
     

 

 

 

     

Beverages: 2.6%

      

Anhui Yingjia Distillery Co., Ltd. A Shares

      604,600        4,737,899  
     

 

 

 

Total Consumer Staples

           19,332,218  
     

 

 

 

     
 

HEALTH CARE: 10.2%

 

Health Care Equipment & Supplies: 4.7%

      

Shenzhen New Industries Biomedical Engineering Co., Ltd. A Shares

      657,065        3,484,745  

Qingdao Haier Biomedical Co., Ltd. A Shares

      337,947        2,940,226  

Brighten Optix Corp.

      352,000        2,121,380  
     

 

 

 

        8,546,351  
     

 

 

 

Biotechnology: 3.6%

      

Legend Biotech Corp. ADRb

     94,850        3,869,880  

Zai Lab, Ltd.b

     504,900        1,718,871  

RemeGen Co., Ltd. H Sharesb,c,e

     209,000        997,842  
     

 

 

 

        6,586,593  
     

 

 

 

 

 

matthewsasia.com  |  800.789.ASIA   1

Matthews China Small Companies Fund    September 30, 2022
Schedule of Investmentsa (unaudited) (continued)   

COMMON EQUITIES (continued)

 

      Shares      Value  

Life Sciences Tools & Services: 1.9%

      

Pharmaron Beijing Co., Ltd. H Sharesc,e

     720,700        $3,486,524  
     

 

 

 

Total Health Care

           18,619,468  
     

 

 

 

     
     

REAL ESTATE: 7.5%

      

Real Estate Management & Development: 7.5%

 

   

China Overseas Property Holdings, Ltd.

      8,455,000        7,332,127  

KE Holdings, Inc. A Sharesb

     358,000        2,062,432  

China Jinmao Holdings Group, Ltd.

      9,760,000        1,985,274  

CIFI Ever Sunshine Services Group, Ltd.c

     3,076,000        1,136,061  

Times China Holdings, Ltd.b

     6,354,000        674,730  

KWG Group Holdings, Ltd.

      3,854,000        471,981  
     

 

 

 

Total Real Estate

           13,662,605  
     

 

 

 

     
     

MATERIALS: 4.1%

      

Chemicals: 2.5%

      

Jiangsu Cnano Technology Co., Ltd. A Shares

      214,720        3,469,117  

KBC Corp., Ltd. A Shares

      24,533        1,019,380  
     

 

 

 

        4,488,497  
     

 

 

 

Construction Materials: 1.6%

      

Keshun Waterproof Technologies Co., Ltd. A Sharesb

     2,229,980        2,967,130  
     

 

 

 

Total Materials

         7,455,627  
     

 

 

 

     
     

FINANCIALS: 3.6%

      

Diversified Financial Services: 1.9%

      

Chailease Holding Co., Ltd.

      614,712        3,511,305  
     

 

 

 

Capital Markets: 1.7%

      

China Merchants Securities Co., Ltd. H Sharesc,e

     2,475,400        2,131,360  

Haitong International Securities Group, Ltd.b

     10,532,400        896,201  
     

 

 

 

        3,027,561  
     

 

 

 

Total Financials

         6,538,866  
     

 

 

 

     
     

UTILITIES: 3.5%

      

Gas Utilities: 3.5%

      

ENN Natural Gas Co., Ltd. A Shares

      2,453,642        6,345,950  
     

 

 

 

Total Utilities

         6,345,950  
     

 

 

 

      Shares      Value  
     

COMMUNICATION SERVICES: 2.6%

      

Entertainment: 2.6%

      

Kingsoft Corp., Ltd.

      931,000        $2,463,370  

Bilibili, Inc. Class Zb

     151,960        2,333,867  
     

 

 

 

Total Communication Services

         4,797,237  
     

 

 

 

     
     

TOTAL INVESTMENTS: 97.1%

         177,331,429  

(Cost $252,091,666)

      

CASH AND OTHER ASSETS,

      

LESS LIABILITIES: 2.9%

         5,380,881  
     

 

 

 

NET ASSETS: 100.0%

         $182,712,310  
     

 

 

 

 

a

Certain securities were fair valued under the valuation policies approved by the Board of Trustees.

 

b

Non-income producing security.

 

c

The securities may be resold to qualified foreign investors and foreign institutional buyers under Regulation S of the Securities Act of 1933.

 

d

Security is valued using significant unobservable inputs and is classified as Level 3 in the fair value hierarchy. The aggregate value of Level 3 security is $248 and 0.00% of net assets.

 

e

Security exempt from registration under Rule 144A of the Securities Act of 1933, as amended. The security may be resold in transactions exempt from registration normally to qualified institutional buyers. The security has been determined to be liquid in accordance with procedures adopted by the Funds’ Board of Trustees. At September 30, 2022, the aggregate value is $11,810,474, which is 6.46% of net assets.

 

ADR

American Depositary Receipt

Other information regarding the Fund is available in the Funds’ most recent report to shareholders. This information is available on the Securities and Exchange Commission’s website (www.sec.gov).

 

 

 

 

 

 

2   MATTHEWS ASIA FUNDS