Financial Position and Performance - The financial assets at fair value through profit or loss represented the majority of the net asset value of the Sub-Funds as of March 31, 2020[16]. - The financial statements provide a true and fair view of the financial position of the Sub-Funds as of March 31, 2020, in accordance with International Financial Reporting Standards (IFRSs)[11]. - The audit confirmed that the financial statements were free from material misstatement, whether due to fraud or error[25]. - Total assets for Global X MSCI China ETF as of March 31, 2020, amounted to HK$857,710,830, a decrease from HK$1,762,540,297 in 2019[34]. - The net loss for Global X MSCI China ETF for the year ended March 31, 2020, was HK$112,028,090, compared to a loss of HK$269,293,218 in the previous year[35]. - The total comprehensive income for Global X MSCI China ETF was a loss of HK$112,028,090, compared to a loss of HK$269,293,218 in the previous year, indicating an improvement in performance[36]. - The total equity attributable to unitholders for Global X MSCI China ETF was HK$843,108,634, down from HK$1,755,770,208 in 2019, reflecting a decrease of approximately 52.0%[34]. - The net cash flows generated from operating activities for Global X MSCI China ETF were HK$803,305,893, down from HK$1,905,245,674 in the previous year, indicating a decrease of about 58%[39]. - The cash received from the issue of units for Global X MSCI China ETF was HK$60,367,625, compared to HK$631,404,826 in the previous year, representing a decline of approximately 90%[39]. Financial Statements and Compliance - The Manager and Trustee are responsible for preparing financial statements that give a true and fair view in accordance with IFRSs[20]. - The financial statements include a statement of net assets, statement of profit or loss, and statement of cash flows for the relevant periods[10]. - The audit included procedures to address the risks of material misstatement of the financial statements[15]. - The financial statements were audited in accordance with International Standards on Auditing (ISAs)[12]. - The Manager and Trustee must ensure compliance with the relevant disclosure provisions of the trust deed and the SFC Code[22]. Investment Performance and Assets - Certain equity investments of Global X MSCI China ETF and Global X CSI 300 ETF amounted to HK$50,848 and RMB48,530 respectively, representing 0.01% and 0.05% of their net asset values[16]. - The financial assets at fair value through profit or loss were primarily listed shares on different stock exchanges[16]. - The net gain on financial assets at fair value through profit or loss for Global X China Cloud Computing ETF was HK$181,503,862, a significant increase from HK$135,402,943 in 2019[35]. - The total comprehensive income for Global X China Biotech ETF was HK$174,321,530 for the year ended March 31, 2020, compared to HK$132,009,464 in the previous year, representing an increase of about 32.1%[35]. - The China Cloud Computing ETF aims to closely correspond to the performance of the Solactive China Cloud Computing Index NTR[55]. - The MSCI China ETF's objective is to provide investment results that closely correspond to the performance of the MSCI China Index[51]. - The Hang Seng High Dividend Yield ETF seeks to match the performance of the Hang Seng High Dividend Yield Index[52]. Management and Fees - Management fees for Global X MSCI China ETF totaled HK$599,491, a reduction from HK$1,131,375 in the previous year, indicating a decrease of approximately 47.0%[35]. - The management fee for the MSCI China ETF was 0.049% of the net asset value for 2020, with a management fee payable of HK$135,992[126]. - The trustee fee for the MSCI China ETF was HK$138,767 for 2020, compared to HK$73,186 in 2019[134]. - The total expenses for the MSCI China ETF included a trustee fee of HK$138,767 and an administration fee of HK$197,055 for the year ended March 31, 2020[134][136]. - For the year ended 31 March 2020, the total administration fee for MSCI China ETF was HK$888,948, a decrease of 32.7% from HK$1,323,514 in 2019[137]. Risk Management - The Sub-Funds limit their exposure to credit risk by transacting with well-established broker-dealers and banks with high credit ratings, ensuring minimal default risk[183]. - The Sub-Funds' liquidity risk is managed by investing in securities expected to be liquidated within one month or less, with daily monitoring of liquidity positions[193]. - The majority of the Sub-Funds' financial assets and liabilities are non-interest-bearing, indicating low exposure to interest rate risk[180]. - The Sub-Funds are subject to a 10% PRC Withholding Income Tax (WIT) on dividend income received from China A-shares and China H-shares[167]. Unit and Shareholder Information - The number of units in issue for Global X MSCI China ETF was 27,400,000, down from 52,800,000 in 2019, a reduction of approximately 48.0%[34]. - As of March 31, 2020, two unitholders held 40% each of the MSCI China ETF's total net assets, indicating a concentration of ownership[196]. - The total number of units for MSCI China ETF decreased from 102,600,000 in 2019 to 52,800,000 in 2020, a reduction of approximately 48.5%[116]. Financial Assets and Liabilities - The financial assets at fair value through profit or loss were HK$137,994,769, with no assets maturing in the 1 to 12 months range[199]. - The total financial liabilities were HK$47,229, with HK$45,857 due within one month[199]. - The carrying value of financial assets not subject to IFRS 9's impairment requirements represents the Sub-Funds' maximum exposure to credit risk, with no separate maximum exposure disclosure provided[188]. - The total financial assets subject to IFRS 9's impairment requirements amounted to HK$16,673,119, an increase of 99.5% from HK$8,385,814 in 2019[185].
中绿(00904) - 2020 - 年度财报