NPORT-EX 2 MIMA930MI9.30.23.htm HTML

 

Matthews China Small Companies Fund    September 30, 2023
Schedule of Investmentsa (unaudited)   
COMMON EQUITIES: 98.0%   
      Shares      Value  

CONSUMER DISCRETIONARY: 23.2%

      

Textiles, Apparel & Luxury Goods: 6.9%

 

   

Samsonite International SAb,c,d

      1,324,200      $ 4,528,402  

Xtep International Holdings, Ltd.

      3,182,000        2,930,839  
     

 

 

  
        7,459,241  
     

 

 

  

Household Durables: 5.8%

      

Jason Furniture Hangzhou Co., Ltd. A Shares

      788,000        4,393,538  

Hisense Home Appliances Group Co., Ltd. H Shares

      739,000        1,884,015  
     

 

 

  
        6,277,553  
     

 

 

  

Hotels, Restaurants & Leisure: 3.8%

      

Melco Resorts & Entertainment, Ltd. ADRc

      366,058        3,620,314  

Tongcheng Travel Holdings, Ltd.c,d

      236,800        517,949  
     

 

 

  
        4,138,263  
     

 

 

  

Automobile Components: 2.9%

      

Zhejiang Shuanghuan Driveline Co., Ltd. A Shares

      817,603        3,209,819  
     

 

 

  

Diversified Consumer Services: 2.0%

      

China Education Group Holdings, Ltd.d

      2,712,000        2,197,744  
     

 

 

  

Automobiles: 1.8%

      

Yadea Group Holdings, Ltd.b,d

      1,038,000        1,922,156  
     

 

 

  

Total Consumer Discretionary

         25,204,776  
     

 

 

  
     
     

INDUSTRIALS: 23.0%

      

Machinery: 9.3%

      

Yangzijiang Shipbuilding Holdings, Ltd.

      4,518,200        5,476,921  

Morimatsu International Holdings Co., Ltd.c,d

      3,835,000        2,789,534  

Airtac International Group

      59,191        1,798,380  
     

 

 

  
        10,064,835  
     

 

 

  

Electrical Equipment: 4.5%

      

Hongfa Technology Co., Ltd. A Shares

      596,257        2,750,498  

GoodWe Technologies Co., Ltd. A Shares

      86,612        1,576,798  

Zhejiang HangKe Technology, Inc., Co. A Shares

      163,429        588,369  
     

 

 

  
        4,915,665  
     

 

 

  

Professional Services: 2.6%

      

Centre Testing International Group Co., Ltd. A Shares

      1,085,300        2,780,727  
     

 

 

  

Ground Transportation: 2.1%

      

Full Truck Alliance Co., Ltd. ADRc

      332,132        2,338,209  
     

 

 

  

Construction & Engineering: 2.1%

      

Greentown Management Holdings Co., Ltd.b,d

      3,114,000        2,248,939  
     

 

 

  

Transportation Infrastructure: 1.4%

      

Beijing Capital International Airport Co., Ltd. H Sharesc

      3,352,000        1,550,198  
     

 

 

  

Marine Transportation: 1.0%

      

SITC International Holdings Co., Ltd.

      659,500        1,106,515  
     

 

 

  

Total Industrials

         25,005,088  
     

 

 

  
      Shares      Value  

INFORMATION TECHNOLOGY: 16.7%

      

Semiconductors & Semiconductor Equipment: 9.0%

 

   

Alchip Technologies, Ltd.

      59,000      $ 4,945,434  

ACM Research, Inc. Class Ac

      209,963        3,801,380  

StarPower Semiconductor, Ltd. A Shares

      42,692        1,053,478  
     

 

 

  
        9,800,292  
     

 

 

  

Electronic Equipment, Instruments & Components: 5.9%

 

Shenzhen Topband Co., Ltd. A Shares

      1,617,600        2,368,132  

Elite Material Co., Ltd.

      178,000        2,367,273  

BOE Varitronix, Ltd.

      1,766,000        1,629,258  
     

 

 

  
        6,364,663  
     

 

 

  

Software: 1.8%

      

Longshine Technology Group Co., Ltd. A Shares

      745,744        1,967,616  
     

 

 

  

Total Information Technology

         18,132,571  
     

 

 

  
     
     

REAL ESTATE: 9.8%

      

Real Estate Management & Development: 9.8%

 

   

China Overseas Property Holdings, Ltd.

      6,090,000        6,853,922  

KE Holdings, Inc. A Shares

      731,900        3,823,775  
     

 

 

  

Total Real Estate

         10,677,697  
     

 

 

  
     
     

CONSUMER STAPLES: 7.2%

      

Beverages: 3.5%

 

   

Anhui Yingjia Distillery Co., Ltd. A Shares

      216,100        2,188,390  

Anhui Kouzi Distillery Co., Ltd. A Shares

      229,300        1,633,931  
     

 

 

  
        3,822,321  
     

 

 

  

Food Products: 2.5%

      

Chacha Food Co., Ltd. A Shares

      330,400        1,483,000  

Anjoy Foods Group Co., Ltd. A Shares

      71,047        1,212,364  
     

 

 

  
        2,695,364  
     

 

 

  

Personal Care Products: 1.2%

      

Giant Biogene Holding Co. ltdb,c,d

      304,400        1,314,694  
     

 

 

  

Total Consumer Staples

         7,832,379  
     

 

 

  
     
     

HEALTH CARE: 7.1%

      

Health Care Equipment & Supplies: 3.4%

 

   

AK Medical Holdings, Ltd.b,d

      2,790,000        2,346,416  

Peijia Medical, Ltd.b,c,d

      1,505,000        1,338,700  
     

 

 

  
        3,685,116  
     

 

 

  

Biotechnology: 2.1%

      

Legend Biotech Corp. ADRc

      34,798        2,337,382  
     

 

 

  

Health Care Technology: 1.4%

      

Medlive Technology Co., Ltd.b,d

      1,473,000        1,480,938  
     

 

 

  

Life Sciences Tools & Services: 0.2%

      

Joinn Laboratories China Co., Ltd. H Sharesb,d

      127,821        225,024  
     

 

 

  

Total Health Care

         7,728,460  
     

 

 

  
     
     

COMMUNICATION SERVICES: 4.6%

      

Interactive Media & Services: 4.6%

 

   

Kanzhun, Ltd. ADRc

      204,401        3,100,763  

Zhihu, Inc. ADRc

      1,815,593        1,888,217  
     

 

 

  

Total Communication Services

         4,988,980  
     

 

 

  

 

 

 

1   MATTHEWS ASIA FUNDS

Matthews China Small Companies Fund    September 30, 2023
Schedule of Investmentsa (unaudited) (continued)   
COMMON EQUITIES (continued)

 

   
      Shares      Value  

UTILITIES: 3.4%

      

Gas Utilities: 3.4%

 

   

ENN Natural Gas Co., Ltd. A Shares

      1,552,742        $3,710,357  
     

 

 

  

Total Utilities

         3,710,357  
     

 

 

  
     
     

FINANCIALS: 3.0%

      

Financial Services: 2.8%

 

   

Chailease Holding Co., Ltd.

      530,106        2,976,673  
     

 

 

  

Capital Markets: 0.2%

      

Orient Securities Co., Ltd. H Sharesb,d

      456,400        228,735  
     

 

 

  

Total Financials

         3,205,408  
     

 

 

  
     
     

TOTAL INVESTMENTS: 98.0%

         106,485,716  

(Cost $117,828,869)

      

CASH AND OTHER ASSETS,

LESS LIABILITIES: 2.0%

         2,172,465  
     

 

 

  

NET ASSETS: 100.0%

         $ 108,658,181  
     

 

 

  
a

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

 

b

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, 2023, the aggregate value is $15,634,004, which is 14.39% of net assets.

 

c

Non-income producing security.

 

d

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

 

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).

 

 

 

 

 

matthewsasia.com  |  800.789.ASIA   2