Financial Assets and Performance - As of March 31, 2023, the financial assets at fair value through profit or loss for Global X MSCI China ETF amounted to HKD 1,202,150,566, while Global X Hang Seng High Dividend Yield ETF had HKD 945,918,883[13]. - The total financial assets at fair value through profit or loss for Global X China Biotech ETF and Global X China Cloud Computing ETF were RMB 724,319,566 and RMB 502,665,423, respectively[13]. - The Global X Hang Seng ESG ETF reported financial assets at fair value through profit or loss of RMB 25,388,056, and the Global X Electric Vehicle and Battery Active ETF had USD 6,790,533[13]. - The financial assets at fair value through profit or loss for Global X MSCI China ETF and Global X Hang Seng High Dividend Yield ETF included listed equities valued at HKD 847,348 and HKD 685,975, respectively[13]. - Total assets for Global X ETF Series as of March 31, 2023, amounted to HK$1,204,309,004, an increase from HK$580,508,395 in 2022[36]. - Financial assets at fair value through profit or loss reached HK$1,202,150,566, compared to HK$525,189,619 in the previous year, indicating a significant growth of approximately 128.7%[36]. - Net assets attributable to unitholders for Global X MSCI China ETF were HK$1,203,829,656, up from HK$526,436,175 in 2022, reflecting an increase of about 128.7%[36]. - The total net assets attributable to unitholders increased to HK$1,203,829,656 by the end of the period, up from HK$526,436,175 at the beginning of the year[41]. - The total comprehensive income for the Global X China Biotech ETF was a profit of RMB 66,781,473, contrasting with a loss of RMB 696,898,825 in the previous year[39]. - Global X China Cloud Computing ETF achieved a profit before tax of RMB 66.9 million, contrasting with a loss of RMB 566.3 million in the previous year, marking a turnaround of over RMB 633 million[49]. Audit and Financial Reporting - The independent auditor confirmed that the financial statements provide a true and fair view of the financial position of each Sub-Fund as of March 31, 2023, in accordance with International Financial Reporting Standards (IFRSs)[8]. - The audit focused on the existence and valuation of financial assets at fair value through profit or loss, which represented the principal element of the Sub-Funds' net assets attributable to unitholders[16]. - The report includes a comprehensive statement of cash flows for the relevant periods, indicating the financial transactions and cash flows of the Sub-Funds[11]. - Financial statements are prepared in accordance with International Financial Reporting Standards (IFRSs) and presented in respective currencies for each ETF[70][71]. - The Sub-Funds measure their investments at fair value at the end of each reporting period, with fair value determined based on market conditions and valuation techniques[89][90]. Management and Fees - The management is responsible for preparing financial statements that are free from material misstatement and for assessing the Sub-Funds' ability to continue as a going concern[23]. - The management fee payable across the ETFs was HK$179,348 for Global X MSCI China ETF, slightly up from HK$176,787 in 2022[36]. - Management fees for the year amounted to HK$992,673, down from HK$1,444,824, indicating a reduction of about 31.3%[39]. - The Hang Seng High Dividend Yield ETF incurred a management fee of HK$4,829,281 for the year ended 31 March 2023, compared to HK$1,125,043 for the year ended 31 March 2022[140]. - The China Biotech ETF's management fee for the year ended 31 March 2023 was RMB 5,468,272, down from RMB 11,591,023 in the previous year[140]. Cash Flows and Distributions - The cash received from the issue of units was HK$1,047,198,141, significantly higher than HK$99,364,062 in the previous year[43]. - The net cash flows used in operating activities amounted to HK$720,214,130, compared to a net cash generation of HK$130,494,985 in the prior year[43]. - The cash paid on redemptions of units was HK$335,837,522, compared to HK$227,519,366 in the previous year[45]. - The distribution to unitholders for the Global X Hang Seng High Dividend Yield ETF was HK$61,224,000, compared to HK$12,822,000 in the previous year[45]. - The total cash balances for the Hang Seng High Dividend Yield ETF from unit creations amounted to HK$141,404,400, while cash from redemptions was HK$21,816,807[130]. Losses and Gains - For the year ended 31 March 2023, Global X reported a net loss of HK$87,815,938, compared to a loss of HK$286,718,905 in the previous year[39]. - The net loss on financial assets at fair value through profit or loss was HK$94,360,581, a significant improvement from a loss of HK$297,472,751 in the prior year[39]. - The total comprehensive loss for the Global X Hang Seng High Dividend Yield ETF was HK$6,536,982, a decrease from a profit of HK$9,024,104 in the previous year[45]. - The loss before tax for the Global X MSCI China ETF was HK$87,049,044, an improvement from a loss of HK$285,771,734 in the previous year[43]. - Global X China Biotech ETF reported a loss before tax of RMB 119.1 million for the year ended 31 March 2023, a significant improvement from a loss of RMB 696.3 million in 2022, indicating a reduction in losses by approximately 83.9%[47]. Unit Issuance and NAV - As of March 31, 2023, the MSCI China ETF had 42,200,000 units in issue, with a net asset value (NAV) per unit of HK$28.5268, down from HK$29.9111 a year earlier, reflecting a decrease of approximately 4.6%[128]. - The Hang Seng High Dividend Yield ETF issued 20,800,000 units during the year, resulting in a total of 41,600,000 units at the end of the period, with a NAV per unit of HK$22.7522, down from HK$25.9073[128]. - The China Biotech ETF redeemed 4,000,000 units, bringing the total units in issue to 12,750,000, with a NAV per unit of RMB56.8229, down from RMB64.2334[128]. - The China Cloud Computing ETF had a total of 8,700,000 units in issue, with a NAV per unit of RMB57.8740, a decrease from RMB48.6367 in the previous year[128]. - The Electric Vehicle and Battery Active ETF issued 1,700,000 units and redeemed 700,000 units, totaling 1,000,000 units in issue, with a NAV per unit of USD7.3014[128]. Sector Allocations - The largest industry allocation was in Consumer discretionary, with a fair value of HK$348,194,876, accounting for 28.92% of net asset value[200]. - Communication Services represented 20.35% of net asset value, with a fair value of HK$244,950,458 as of March 31, 2023[200]. - Financials accounted for 15.26% of net asset value, with a fair value of HK$183,698,261, down from 17.10% in the previous year[200]. - The fair value of Consumer staples increased to HK$73,724,182, representing 6.12% of net asset value, up from 5.57% in the previous year[200]. - The Energy sector saw a rise in fair value to HK$33,188,791, which is 2.76% of net asset value, compared to 2.35% in the previous year[200].
中绿(00904) - 2023 - 年度财报