Financial Performance - As of September 30, 2020, the total assets for Global X MSCI China ETF were HK$837,589,431, a decrease from HK$857,710,830 as of March 31, 2020[5]. - The Global X China Biotech ETF reported a net asset value of RMB 39,851,196 as of September 30, 2020, compared to RMB 102,543,827 as of March 31, 2020, indicating a significant decline[5]. - For the six months ended September 30, 2020, the Global X MSCI China ETF generated a profit of HK$225,654,532, recovering from a loss of HK$118,812,708 in the same period of the previous year[7]. - Dividend income for the Global X MSCI China ETF was HK$14,964,575 for the six months ended September 30, 2020, down from HK$27,505,096 in the same period of 2019[7]. - The Global X Hang Seng High Dividend Yield ETF experienced a net loss of HK$19,861,794 for the six months ended September 30, 2020, compared to a profit in the previous year[7]. - The profit after tax for Global X MSCI China ETF was HK$225,654,532, compared to a loss of HK$118,812,708 in the same period last year, indicating a significant turnaround[9]. - The profit before tax for Global X CSI 300 ETF was RMB 19,795,472, compared to RMB 500,598 in the same period last year, indicating a substantial increase[16]. - Global X China Biotech ETF reported a profit before tax of RMB 395,174,068 for the six months ended 30 September 2020[18]. - Global X China Cloud Computing ETF reported a profit before tax of RMB 246,444,305 for the same period[20]. Asset Management - The Global X China Cloud Computing ETF's financial assets at fair value through profit or loss increased to RMB 1,423,379,522 as of September 30, 2020, up from RMB 450,725,283 as of March 31, 2020[6]. - The total equity for the Global X China Cloud Computing ETF was RMB 1,429,365,750 as of September 30, 2020, significantly higher than RMB 449,976,711 as of March 31, 2020[6]. - The total liabilities for the Global X China Cloud Computing ETF were RMB 12,012,430 as of September 30, 2020, compared to RMB 4,546,474 as of March 31, 2020, reflecting an increase in liabilities[6]. - The balance at the beginning of the period for Global X MSCI China ETF was HK$843,108,634, down from HK$1,755,770,208 in the previous year, representing a decrease of approximately 52%[9]. - The balance at the end of the period for Global X CSI 300 ETF was RMB 39,851,196, down from RMB 106,610,885 in the previous year, a decrease of about 63%[9]. - The total financial assets at fair value through profit or loss were held with Citibank, N.A., ensuring consistent management of financial assets[114]. Cash Flow and Financing Activities - The net cash flows generated from operating activities for Global X MSCI China ETF were HK$243,833,814, down from HK$581,361,916 in the previous year, reflecting a decrease of about 58%[12]. - The cash paid on redemption of units for Global X MSCI China ETF was HK$244,762,535, compared to HK$580,741,672 in the previous year, showing a reduction of approximately 58%[12]. - The net cash flows used in financing activities for Global X CSI 300 ETF were RMB 82,361,757, compared to RMB 6,436,147 in the previous year, reflecting a significant increase in cash outflows[16]. - Net cash flows generated from financing activities for Global X China Biotech ETF amounted to RMB 715,807,934, and for Global X China Cloud Computing ETF it was RMB 735,102,436[18][20]. Management Fees and Expenses - Management fees for the Global X MSCI China ETF decreased to HK$213,809 for the six months ended September 30, 2020, from HK$324,859 in the same period of the previous year[7]. - The management fee for the MSCI China ETF was 0.049% of the net asset value, while the China Biotech ETF had a management fee of 0.50%[95]. - The trustee fee for the MSCI China ETF for the six months ended 30 September 2020 was HK$218,173, compared to HK$330,783 for the same period in 2019[104]. - The total administration fee payable for MSCI China ETF as of 30 September 2020 was HK$58,646, down from HK$197,055 as of 31 March 2020[106]. - The total administration fee for China Biotech ETF for the six months ended 30 September 2020 was RMB 960,714, with RMB 542,655 attributed to other administration fees[110]. Investment Portfolio - The total fair value of holdings in the portfolio includes significant investments in companies like Sany Heavy Industry Co. with HK$577,020, making up 0.07% of net assets[146]. - The total fair value of the listed equities in the MSCI China ETF as of September 30, 2020, is HK$97,617,325[149]. - The total investments for the MSCI China ETF amounted to HK$820,931,911, representing 98.17% of net assets[155]. - The total cost of investments for the MSCI China ETF was HK$692,768,528[155]. - The total investments in the China Biotech ETF reached RMB 1,963,208,795, accounting for 99.57% of net assets[164]. - Total investments in the CSI 300 ETF amounted to RMB 39,692,774, representing 99.60% of net assets[162]. - The largest holding in the portfolio is Meituan Dianping-Class B, valued at RMB 158,375,318, accounting for 11.08% of net assets[166]. - The portfolio reflects a strategic focus on various sectors, including technology, pharmaceuticals, and finance[145]. Market and Regulatory Environment - The financial statements are prepared in accordance with International Financial Reporting Standards (IFRSs) and relevant disclosure provisions[31]. - The Trust has five sub-funds authorized by the Securities and Futures Commission of Hong Kong, including Global X China Biotech ETF and Global X China Cloud Computing ETF[23]. - No provision for Hong Kong profits tax has been made for the Sub-Funds, maintaining tax efficiency under the current regulations[126]. - The Sub-Funds did not accrue any PRC Corporate Income Tax (CIT) and Value-Added Tax (VAT) provisions for gains made on China A-shares through RQFII quotas, the Shanghai-Hong Kong Stock Connect, or the Shenzhen-Hong Kong Stock Connect[132]. - The Sub-Funds were subject to a 10% PRC Withholding Income Tax (WIT) on dividend income received from China A-shares and China H-shares[132]. Changes in Holdings - The total closing holdings for the Consumer Staples sector included significant positions such as Inner Mongolia Yili Industry Co. Ltd. with 14,572 million CNY, down from 51,672 million CNY at the beginning of the period, reflecting a disposal of 37,100 million CNY[193]. - The total closing holdings for the Financials sector included Ping An Bank at 24,372 million CNY, down from 78,072 million CNY, after a disposal of 53,700 million CNY[194]. - The total closing holdings for the Energy sector included PetroChina Co. Ltd. at 21,911 million CNY, down from 69,911 million CNY, after a significant disposal of 48,000 million CNY[193]. - The overall trend indicates a strategic reduction in holdings across various sectors, particularly in Consumer Staples and Financials[172][174].
中绿(00904) - 2021 - 中期财报