Financial Performance - As of September 30, 2019, the total assets for Mirae Asset Horizons MSCI China ETF were HK$1,074,530,338, a decrease from HK$1,762,540,297 as of March 31, 2019[5]. - For the six months ended September 30, 2019, the dividend income for Mirae Asset Horizons MSCI China ETF was HK$27,505,096, down 54.3% from HK$60,114,286 in the same period of 2018[6]. - The net loss on financial assets at fair value through profit or loss for Mirae Asset Horizons MSCI China ETF was HK$142,305,039, compared to a loss of HK$415,667,166 in the previous year[6]. - The profit after tax and total comprehensive income for Mirae Asset Horizons MSCI China ETF was a loss of HK$118,812,708, compared to a loss of HK$366,414,978 in the previous year[6]. - The operating loss for Mirae Asset Horizons MSCI China ETF was HK$116,750,098 for the six months ended September 30, 2019[6]. - For the six months ended 30 September 2019, Mirae Asset Horizons MSCI China ETF reported a loss before tax of HK$116,750,155, an improvement from a loss of HK$361,902,010 in the same period of 2018[9]. - The cash generated from operations for the MSCI China ETF was HK$557,713,637, compared to HK$1,555,439,501 for the same period in 2018, indicating a decrease of approximately 64.1%[9]. - The net cash flows generated from operating activities for the MSCI China ETF were HK$581,361,916, down from HK$1,607,807,771 in the previous year, reflecting a decline of about 63.8%[9]. - The Hang Seng High Dividend Yield ETF experienced a loss before tax of HK$19,861,794, compared to a loss of HK$9,946,423 in the prior year, representing an increase in losses of approximately 99.3%[11]. - The total expenses for Hang Seng High Dividend Yield ETF for the six months ended 30 September 2019 amounted to HK$230,742, an increase of 4.5% from HK$221,827 in the same period of 2018[108]. Asset and Liability Overview - The net assets attributable to unitholders for Mirae Asset Horizons MSCI China ETF decreased to HK$1,056,215,828 from HK$1,755,770,208 at the beginning of the period[7]. - The total liabilities for Mirae Asset Horizons MSCI China ETF were HK$18,314,510, an increase from HK$6,770,089 as of March 31, 2019[5]. - The number of units in issue for Mirae Asset Horizons MSCI China ETF was 34,800,000 as of September 30, 2019, down from 52,800,000[5]. - As of 30 September 2019, the cash and cash equivalents for the MSCI China ETF stood at HK$8,903,127, a decrease from HK$16,157,611 at the beginning of the period[9]. - The total cash and cash equivalents for the Hang Seng High Dividend Yield ETF at the end of the period were HK$561,964, down from HK$2,012,078 at the beginning of the period, indicating a decrease of approximately 72.0%[11]. Investment Portfolio - As of 30 September 2019, Alibaba Group Holding Limited accounted for 13.77% of MSCI China ETF's net asset value, while Tencent Holdings Ltd. accounted for 13.93%[130]. - The investment portfolio includes significant holdings in various sectors, with notable investments in technology and finance[140]. - The fair value of the total investments is aligned with the tracked indices, ensuring a strategic investment approach[136]. - The MSCI China ETF holds a total of HK$1,049,000,000 in listed equities as of September 30, 2019, with a significant allocation to the Industrial and Commercial Bank of China, representing 2.53% of net assets[143]. - The ETF has a diverse portfolio with over 200 listed equities, reflecting a broad exposure to the Chinese market[144]. - The fair value of the holdings in the technology sector, including companies like Meituan Dianping and NetEase, exceeds HK$18 billion, highlighting the sector's importance[144]. - The ETF's allocation to healthcare stocks, such as Jiangsu Hengrui Medicine Co, is approximately HK$1.37 billion, representing a strategic focus on this growing sector[144]. - The fund's exposure to consumer discretionary stocks, including Li Ning Co Ltd, is valued at HK$3.57 billion, indicating a bullish outlook on consumer spending in China[144]. Management and Governance - Management has assessed the Sub-Funds' ability to continue as a going concern and is satisfied that they have the resources to continue in business for the foreseeable future[25]. - The Sub-Funds have adopted IFRS 9 Financial Instruments, impacting the classification and measurement of financial assets and liabilities[27]. - The Manager is identified as the chief operating decision-maker responsible for allocating resources and assessing performance of the operating segments[67]. - Mirae Asset Global Investments (Hong Kong) Limited is the manager of the ETFs[189]. - Cititrust Limited serves as the trustee for the funds[189]. - Ernst & Young is the appointed auditor for the management[189]. - The funds are administered from Three Pacific Place, Hong Kong[189]. - The legal adviser to the manager is Simmons & Simmons[189]. Changes in Holdings - The total closing holdings for the MSCI China ETF as of September 30, 2019, amounted to 5,000,000,000 HKD[169]. - The total closing holdings for the CSI 300 ETF as of September 30, 2019, amounted to 1,123,000 shares after various additions and disposals[179]. - The total closing holdings for Shandong Gold Mining Co Ltd increased to 9,310 shares, reflecting a net addition of 2,660 shares during the period[181]. - The total closing holdings for Zijin Mining Group Co Ltd decreased to 91,997 shares after a disposal of 5,700 shares[181]. - The total holdings for China Railway Group decreased to 3,400 shares, resulting in a closing balance of 55,029 shares[179]. Taxation and Compliance - The Sub-Funds are exempt from Hong Kong profits tax as they are authorized collective investment schemes under the Hong Kong Securities and Futures Ordinance[119]. - The Sub-Funds did not accrue any PRC corporate income tax and VAT provisions for gains made on China A-shares through RQFII quotas and Stock Connect programs[125].
中绿(00904) - 2020 - 中期财报