-----BEGIN PRIVACY-ENHANCED MESSAGE----- Proc-Type: 2001,MIC-CLEAR Originator-Name: webmaster@www.sec.gov Originator-Key-Asymmetric: MFgwCgYEVQgBAQICAf8DSgAwRwJAW2sNKK9AVtBzYZmr6aGjlWyK3XmZv3dTINen TWSM7vrzLADbmYQaionwg5sDW3P6oaM5D3tdezXMm7z1T+B+twIDAQAB MIC-Info: RSA-MD5,RSA, BTUsctiVqWq71cSr3EylEQExc/dozBV5UMzFFusNkUOxft3EFxijAsngeSlCkocM /Vzkm414XIfu+rhAcNa+dA== 0000935069-06-001442.txt : 20060524 0000935069-06-001442.hdr.sgml : 20060524 20060524114630 ACCESSION NUMBER: 0000935069-06-001442 CONFORMED SUBMISSION TYPE: N-Q PUBLIC DOCUMENT COUNT: 2 CONFORMED PERIOD OF REPORT: 20060331 FILED AS OF DATE: 20060524 DATE AS OF CHANGE: 20060524 EFFECTIVENESS DATE: 20060524 FILER: COMPANY DATA: COMPANY CONFORMED NAME: JF CHINA REGION FUND INC CENTRAL INDEX KEY: 0000888137 IRS NUMBER: 223178023 STATE OF INCORPORATION: MD FISCAL YEAR END: 1231 FILING VALUES: FORM TYPE: N-Q SEC ACT: 1940 Act SEC FILE NUMBER: 811-06686 FILM NUMBER: 06863357 BUSINESS ADDRESS: STREET 1: 100 E PRATT ST CITY: BALTIMORE STATE: MD ZIP: 21202 BUSINESS PHONE: 4106256640 FORMER COMPANY: FORMER CONFORMED NAME: JARDINE FLEMING CHINA REGION FUND INC DATE OF NAME CHANGE: 19920929 N-Q 1 g31570jfchina.txt JF CHINA UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM N-Q QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED MANAGEMENT INVESTMENT COMPANY Investment Company Act file number 811-06686 --------- JF China Region Fund, Inc. -------------------------------------------------- (Exact name of registrant as specified in charter) 301 Bellevue Parkway Wilmington, DE 19809 -------------------------------------------------- (Address of principal executive offices) (Zip code) Cleary, Gottlieb, Steen & Hamilton 1 Liberty Plaza New York, NY 10006 -------------------------------------------------- (Name and address of agent for service) Registrant's telephone number, including area code: 800-441-9800 ------------ Date of fiscal year end: December 31 ----------- Date of reporting period: March 31, 2006 -------------- Form N-Q is to be used by management investment companies, other than small business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of this chapter), to file reports with the Commission, not later than 60 days after the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use the information provided on Form N-Q in its regulatory, disclosure review, inspection, and policymaking roles. A registrant is required to disclose the information specified by Form N-Q, and the Commission will make this information public. A registrant is not required to respond to the collection of information contained in Form N-Q unless the Form displays a currently valid Office of Management and Budget ("OMB") control number. Please direct comments concerning the accuracy of the information collection burden estimate and any suggestions for reducing the burden to the Secretary, Securities and Exchange Commission, 100 F Street, NE, Washington, DC 20549. The OMB has reviewed this collection of information under the clearance requirements of 44 U.S.C. ss. 3507. ITEM 1. SCHEDULE OF INVESTMENTS. The Schedule(s) of Investments is attached herewith. [LOGO] JF CHINA REGION FUND, INC. INVESTMENT PORTFOLIO - -------------------------------------------------------------------------------- AT MARCH 31, 2006 (UNAUDITED) - --------------------------------------------------------------------------------
Holdings Market (in shares Value Description or par) (in US$) - -------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS (UNLESS OTHERWISE NOTED) AUSTRALIA (2.0%) - -------------------------------------------------------------------------------------------------------------------------- METALS & MINING (2.0%) Rio Tinto Ltd 29,692 1,669,398 - -------------------------------------------------------------------------------------------------------------------------- TOTAL AUSTRALIA 1,669,398 - -------------------------------------------------------------------------------------------------------------------------- CHINA (19.8%) - -------------------------------------------------------------------------------------------------------------------------- COMMERCIAL BANKS (2.8%) Bank of Communications Co. 'H' 3,614,000 2,270,437 - -------------------------------------------------------------------------------------------------------------------------- COMPUTERS & PERIPHERALS (1.0%) * Sina Corp. 30,408 848,383 - -------------------------------------------------------------------------------------------------------------------------- ELECTRONIC EQUIPMENT & INSTRUMENTS (1.3%) * Foxconn International Holdings 546,000 1,023,770 - -------------------------------------------------------------------------------------------------------------------------- INSURANCE (1.9%) * China Life Insurance Co. 'H' 1,254,000 1,583,690 - -------------------------------------------------------------------------------------------------------------------------- METALS & MINING (5.0%) Aluminum Corporation of China 'H' 1,160,000 1,225,797 Angang New Steel Co., Ltd. 'H' 1,444,000 1,358,428 Jiangxi Copper Company, Ltd. 'H' 1,661,000 1,476,949 - -------------------------------------------------------------------------------------------------------------------------- 4,061,174 - -------------------------------------------------------------------------------------------------------------------------- OIL & GAS (5.2%) China Petroleum and Chemical 'H' 3,334,000 1,933,414 PetroChina Co., Ltd. 'H' 2,212,000 2,308,962 - -------------------------------------------------------------------------------------------------------------------------- 4,242,376 - -------------------------------------------------------------------------------------------------------------------------- PAPER & FOREST PRODUCTS (0.3%) Shandong Chenming Paper Holdings, Ltd., 'B' 512,720 268,919 - -------------------------------------------------------------------------------------------------------------------------- RETAIL (0.5%) Wumart Stores, Inc. 'H' 124,000 431,452 - -------------------------------------------------------------------------------------------------------------------------- TEXTILES, APPAREL & LUXURY GOODS (0.7%) Weiqiao Textile Co., Ltd., 'H' 396,000 599,625 - -------------------------------------------------------------------------------------------------------------------------- TRANSPORTATION INFRASTRUCTURE (1.1%) * Dongfeng Motors Group Corp., Ltd 'H' 2,076,000 909,605 - -------------------------------------------------------------------------------------------------------------------------- TOTAL CHINA 16,239,431 - --------------------------------------------------------------------------------------------------------------------------
1 [LOGO] JF CHINA REGION FUND, INC. INVESTMENT PORTFOLIO (CONTINUED) - -------------------------------------------------------------------------------- AT MARCH 31, 2006 (UNAUDITED) - --------------------------------------------------------------------------------
Holdings Market (in shares Value Description or par) (in US$) - -------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED) HONG KONG (41.9%) - -------------------------------------------------------------------------------------------------------------------------- AIRLINES (1.3%) * Air China, Ltd., 'H' 2,830,000 1,094,093 - -------------------------------------------------------------------------------------------------------------------------- BUILDING MATERIALS (0.8%) * China National Building Material Co., Ltd., 'H' 1,474,000 693,325 - -------------------------------------------------------------------------------------------------------------------------- COMMERCIAL BANKS (4.0%) BOC Hong Kong (Holdings) Ltd. 401,500 807,155 HSBC Holdings PLC 70,800 1,185,193 Standard Chartered PLC 51,361 1,297,287 - -------------------------------------------------------------------------------------------------------------------------- 3,289,635 - -------------------------------------------------------------------------------------------------------------------------- COMPUTERS & PERIPHERALS (1.5%) Lenovo Group Ltd. 3,254,000 1,237,047 - -------------------------------------------------------------------------------------------------------------------------- DISTRIBUTION/WHOLESALE (1.5%) Esprit Holdings Ltd. 155,000 1,206,467 - -------------------------------------------------------------------------------------------------------------------------- DIVERSIFIED OPERATIONS (6.7%) Beijing Enterprises Holdings, Ltd. 316,000 588,439 China Merchants Holdings International Co., Ltd. 374,000 1,079,609 China Resources Enterprise Ltd. 516,000 1,063,938 Jardine Strategic Holdings Ltd. 104,000 1,154,400 Swire Pacific Ltd. 'A' 165,000 1,614,947 - -------------------------------------------------------------------------------------------------------------------------- 5,501,333 - -------------------------------------------------------------------------------------------------------------------------- DIVERSIFIED TELECOMMUNICATION SERVICES (2.0%) China Netcom Group Corp (Hong Kong) Ltd. 908,000 1,603,072 - -------------------------------------------------------------------------------------------------------------------------- ELECTRIC UTILITIES (0.3%) Dongfang Electrical Machinery Co., Ltd., 'H' 100,000 203,612 - -------------------------------------------------------------------------------------------------------------------------- ELECTRONIC EQUIPMENT & INSTRUMENTS (1.3%) Techtronic Industries Company Limited 586,000 1,053,461 - -------------------------------------------------------------------------------------------------------------------------- FOOD PRODUCTS (0.8%) China Mengniu Dairy Co., Ltd. 598,000 666,598 - -------------------------------------------------------------------------------------------------------------------------- LEISURE EQUIPMENT & PRODUCTS (0.7%) Li & Fung, Ltd. 260,000 586,352 - -------------------------------------------------------------------------------------------------------------------------- MARINE (1.3%) Pacific Basin Shipping Ltd 2,362,000 1,088,185 - --------------------------------------------------------------------------------------------------------------------------
2 [LOGO] JF CHINA REGION FUND, INC. INVESTMENT PORTFOLIO (CONTINUED) - -------------------------------------------------------------------------------- AT MARCH 31, 2006 (UNAUDITED) - --------------------------------------------------------------------------------
Holdings Market (in shares Value Description or par) (in US$) - -------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED) HONG KONG (CONTINUED) - -------------------------------------------------------------------------------------------------------------------------- METALS & MINING (1.3%) China Shenhua Energy Co., Ltd., 'H' 601,500 1,058,071 - -------------------------------------------------------------------------------------------------------------------------- MISCELLANEOUS (0.0%) * Health Asia MediCentres Beijing++ 1,000,000 0 - -------------------------------------------------------------------------------------------------------------------------- MULTILINE RETAIL (1.1%) Lifestyle International Holdings Ltd. 532,500 912,679 - -------------------------------------------------------------------------------------------------------------------------- OIL & GAS (2.4%) CNOOC Ltd. 2,038,000 1,575,804 Xinao Gas Holdings Limited 388,000 360,007 - -------------------------------------------------------------------------------------------------------------------------- 1,935,811 - -------------------------------------------------------------------------------------------------------------------------- REAL ESTATE (10.8%) Agile Property Holdings Ltd. 1,120,000 930,946 Cheung Kong Holdings Ltd. 302,000 3,201,028 Guangzhou R&F Prop Co., Ltd., 'H' 221,800 1,174,763 Hysan Development Co. 253,419 721,736 Sun Hung Kai Properties 168,000 1,706,012 Wheelock and Company Ltd. 601,000 1,076,554 - -------------------------------------------------------------------------------------------------------------------------- 8,811,039 - -------------------------------------------------------------------------------------------------------------------------- RETAIL (0.6%) * Golden Eagle Retail Group, Ltd. 832,000 415,472 Parkson Retail Group, Ltd. 19,500 59,054 - -------------------------------------------------------------------------------------------------------------------------- 474,526 - -------------------------------------------------------------------------------------------------------------------------- WIRELESS TELECOMMUNICATION SERVICES (3.5%) China Mobile (Hong Kong) Ltd. 545,000 2,862,007 China Unicom, Ltd. 26,000 21,109 - -------------------------------------------------------------------------------------------------------------------------- 2,883,116 - -------------------------------------------------------------------------------------------------------------------------- TOTAL HONG KONG 34,298,422 - -------------------------------------------------------------------------------------------------------------------------- TAIWAN (34.7%) - -------------------------------------------------------------------------------------------------------------------------- AUTO COMPONENTS (0.3%) Tong Yang Industry Co., Ltd. 175,000 220,812 - -------------------------------------------------------------------------------------------------------------------------- CIRCUIT BOARDS (1.5%) Nan Ya Printed Circuit Board Corp. 130,000 1,265,792 - --------------------------------------------------------------------------------------------------------------------------
3 [LOGO] JF CHINA REGION FUND, INC. INVESTMENT PORTFOLIO (CONTINUED) - -------------------------------------------------------------------------------- AT MARCH 31, 2006 (UNAUDITED) - --------------------------------------------------------------------------------
Holdings Market (in shares Value Description or par) (in US$) - -------------------------------------------------------------------------------------------------------------------------- COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED) TAIWAN (CONTINUED) - -------------------------------------------------------------------------------------------------------------------------- COMMERCIAL BANKS (0.2%) Bank of Kaohsiung 185,000 82,655 Hsinchu International Bank 162,000 78,120 - -------------------------------------------------------------------------------------------------------------------------- 160,775 - -------------------------------------------------------------------------------------------------------------------------- COMPUTERS & PERIPHERALS (3.9%) Acer Inc. 400,000 735,811 * Innolux Display Corp. 534,000 839,157 * Wistron Corp. 1,363,000 1,633,718 - -------------------------------------------------------------------------------------------------------------------------- 3,208,686 - -------------------------------------------------------------------------------------------------------------------------- DIVERSIFIED FINANCIAL SERVICES (1.6%) First Financial Holding Co. 1,874,000 1,339,644 - -------------------------------------------------------------------------------------------------------------------------- ELECTRONIC EQUIPMENT & INSTRUMENTS (8.7%) Asustek Computer Inc. 424,700 1,151,587 * AU Optronics Corp. 1,068,820 1,607,149 * Delta Electronics Inc. 336,000 781,660 Hon Hai Precision Industry 446,487 2,765,265 * Taiwan Green Point Enterprises 140,000 426,203 Tripod Technology Corp. 109,000 354,332 - -------------------------------------------------------------------------------------------------------------------------- 7,086,196 - -------------------------------------------------------------------------------------------------------------------------- METALS & MINING (1.6%) * Catcher Technology Co., Ltd. 144,000 1,295,618 - -------------------------------------------------------------------------------------------------------------------------- SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (16.9%) Advanced Semiconductor Engineering Inc. 1,519,000 1,436,905 Himax Technologies, Inc. - Sponsored ADR 84,000 730,800 MediaTek Inc. 171,800 1,987,764 Novatek Microelectronics Corporation Ltd. 240,000 1,704,566 * Powertech Technology, Inc. 256,000 859,802 ProMOS Technologies, Inc. 3,544,000 1,212,128 * Taiwan Semiconductor Manufacturing 2,993,836 5,922,360 - -------------------------------------------------------------------------------------------------------------------------- 13,854,325 - -------------------------------------------------------------------------------------------------------------------------- TOTAL TAIWAN 28,431,848 - -------------------------------------------------------------------------------------------------------------------------- TOTAL INVESTMENTS IN COMMMON STOCK (98.4% of Net Assets) (Cost $71,922,638) 80,639,099 ===========================================================================================================================
4 [LOGO] JF CHINA REGION FUND, INC. INVESTMENT PORTFOLIO (CONTINUED) - -------------------------------------------------------------------------------- AT MARCH 31, 2006 (UNAUDITED) - --------------------------------------------------------------------------------
Holdings Market (in shares Value Description or par) (in US$) - -------------------------------------------------------------------------------------------------------------------------- TOTAL INVESTMENTS (98.4% of Net Assets) (Cost $71,922,638) 80,639,099 ========================================================================================================================== Other assets in excess of liabilities (1.6% of Net Assets) 1,277,604 ========================================================================================================================== NET ASSETS (100.0%) 81,916,703 ========================================================================================================================== As of December 31, 2005, aggregate cost for Federal income tax purposes was $65,230,006. The aggregate unrealized gain for all securities is as follows: Excess of market value over cost 10,293,332 Excess of cost over market value (2,111,241) - -------------------------------------------------------------------------------------------------------------------------- Net unrealized gain 8,182,091 ==========================================================================================================================
B Chinese security traded on Shenzhen Stock Exchange or Shanghai Stock Exchange H Chinese security traded on Hong Kong Stock Exchange. AD American Depository Receipts. GD Global Depository Receipts. * Non-income producing security . ++ At fair value as determined under the supervision of the Board of Directors. 5 ITEM 2. CONTROLS AND PROCEDURES. (a) The registrant's principal executive and principal financial officers, or persons performing similar functions, have concluded that the registrant's disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940, as amended (the "1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within 90 days of the filing date of the report that includes the disclosure required by this paragraph, based on their evaluation of these controls and procedures required by Rule 30a-3(b) under the 1940 Act (17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or 240.15d-15(b)). (b) There were no changes in the registrant's internal control over financial reporting (as defined in Rule 30a-3(d) under the 1940 Act (17 CFR 270.30a-3(d)) that occurred during the registrant's last fiscal quarter that have materially affected, or are reasonably likely to materially affect, the registrant's internal control over financial reporting. ITEM 3. EXHIBITS. Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of the Sarbanes-Oxley Act of 2002 are attached hereto. SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, the registrant has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized. (Registrant) JF China Region Fund, Inc. ------------------------------------------------------- By (Signature and Title)* /s/ Simon Crinage ------------------------------------------------------- Simon Crinage, President (principal executive officer) Date May 22, 2006 ---------------------------------------------------------------------------- Pursuant to the requirements of the Securities Exchange Act of 1934 and the Investment Company Act of 1940, this report has been signed below by the following persons on behalf of the registrant and in the capacities and on the dates indicated. By (Signature and Title)* /s/ Simon Crinage ------------------------------------------------------- Simon Crinage, President (principal executive officer) Date May 22, 2006 ---------------------------------------------------------------------------- By (Signature and Title)* /s/ Douglas Eu ------------------------------------------------------- Douglas Eu, Treasurer (principal financial officer) Date May 18, 2006 ---------------------------------------------------------------------------- * Print the name and title of each signing officer under his or her signature. EX-99.CERT 2 g31570jfchina_cert.txt CERTIFICATION 302 CERTIFICATION PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT I, Simon Crinage, certify that: 1. I have reviewed this report on Form N-Q of JF China Region Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 22, 2006 /s/ Simon Crinage ------------------ -------------------------------------------- Simon Crinage, President (principal executive officer) CERTIFICATION PURSUANT TO RULE 30A-2(A) UNDER THE 1940 ACT AND SECTION 302 OF THE SARBANES-OXLEY ACT I, Douglas Eu, certify that: 1. I have reviewed this report on Form N-Q of JF China Region Fund, Inc.; 2. Based on my knowledge, this report does not contain any untrue statement of a material fact or omit to state a material fact necessary to make the statements made, in light of the circumstances under which such statements were made, not misleading with respect to the period covered by this report; 3. Based on my knowledge, the schedules of investments included in this report fairly present in all material respects the investments of the registrant as of the end of the fiscal quarter for which the report is filed; 4. The registrant's other certifying officer(s) and I are responsible for establishing and maintaining disclosure controls and procedures (as defined in Rule 30a-3(c) under the Investment Company Act of 1940) and internal control over financial reporting (as defined in Rule 30a-3(d) under the Investment Company Act of 1940) for the registrant and have: (a) Designed such disclosure controls and procedures, or caused such disclosure controls and procedures to be designed under our supervision, to ensure that material information relating to the registrant, including its consolidated subsidiaries, is made known to us by others within those entities, particularly during the period in which this report is being prepared; (b) Designed such internal control over financial reporting, or caused such internal control over financial reporting to be designed under our supervision, to provide reasonable assurance regarding the reliability of financial reporting and the preparation of financial statements for external purposes in accordance with generally accepted accounting principles; (c) Evaluated the effectiveness of the registrant's disclosure controls and procedures and presented in this report our conclusions about the effectiveness of the disclosure controls and procedures, as of a date within 90 days prior to the filing date of this report, based on such evaluation; and (d) Disclosed in this report any change in the registrant's internal control over financial reporting that occurred during the registrant's most recent fiscal quarter that has materially affected, or is reasonably likely to materially affect, the registrant's internal control over financial reporting; and 5. The registrant's other certifying officer(s) and I have disclosed to the registrant's auditors and the audit committee of the registrant's board of directors (or persons performing the equivalent functions): (a) All significant deficiencies and material weaknesses in the design or operation of internal control over financial reporting which are reasonably likely to adversely affect the registrant's ability to record, process, summarize, and report financial information; and (b) Any fraud, whether or not material, that involves management or other employees who have a significant role in the registrant's internal control over financial reporting. Date: May 18, 2006 /s/ Douglas Eu ------------------ -------------------------------------------- Douglas Eu, Treasurer (principal financial officer) -----END PRIVACY-ENHANCED MESSAGE-----