Yangtze China Investment, a provider of expansion capital to China-based enterprises, had a net asset value per share of USD0.94 for the year ended 31 March 2010, a decrease of 3.1 per cent from the previous year.
The company’s total net asset value stood at USD23.8m, down from USD24.5m in 2009.
Current cash and cash equivalents total USD6.0m.
Wilfred Wong, chairman of Yangtze China Investment, says: “Although Yangtze recorded a decline of 3.1 per cent in NAV per share for the financial year ended 31 March 2010, the beauty spa franchise network Yangtze invested in has continued to operate with impressive growth in profitability, leading to a second round funding of RMB60m being recently received by the company to fuel its successful franchise business. Despite China’s rapid recovery, the investment adviser remained cautiously optimistic and continued to providing operational support to Yangtze’s investee companies throughout the financial year.
“The strong rebound in China’s economy and the return of liquidity to the market have prompted more investors to look to China for high-growth investment opportunities. Our current cash position of USD6.0m places the company in an excellent position to invest in good-quality assets at attractive entry valuations as and when suitable opportunities arise.”
Yangtze China Investment is a closed-end investment company established to make minority equity and equity-related investments in a portfolio of small and medium-sized growth businesses within, or associated with, the consumer sector in China.
