Nordic Asia Investment Group – Quarterly report Q3 2022
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This news feature refers to the press release published on 2022-11-01 at 08.30, which can be read in its entirety on Nordic Asia's Investor Relations page under Press & News.
THIRD QUARTER 2022
The net asset value per common share amounted to SEK 6.35 compared to SEK 7.47 at the beginning of the quarter, which corresponds to a reduction of approx. 15%. This can be compared with MSCI China, which decreased by approx. 23% during the corresponding period.
The net asset value amounted to SEK 218 337 thousand compared to SEK 257 013 thousand at the beginning of the quarter, a decrease of SEK -38 676 thousand (62 165).
The result for the period amounted to SEK -38,401 thousand (-17 379). Earnings per common share (share classes A and B) amounted to SEK -1.12 (-1.62).
Cash flow from investment activities amounted to 12 751 (-66 069) with several holdings divested to e.g. reduce the exposure to the export sector, which has increased the cash position.
JANUARY – SEPTEMBER 2022
The net asset value per common share amounted to SEK 6.35 compared to SEK 7.87 at the beginning of the period, which corresponds to a decrease of approx. 19%. This can be compared with MSCI China, which fell by around 32% during the same period.
The result for the period amounted to SEK -51 797 thousand (-16 995). Earnings per common share (share classes A and B) amounted to SEK -1.44 (-2.85).
Cash flow from investment activities amounted to SEK -71 623 thousand (-86 701), which i.a. can be attributed to allocation of the issue proceeds from the listing in December 2021.
AFTER THE END OF THE PERIOD
The net asset value per common share amounted to SEK 5.55 as of October 28, 2022.
On October 18, 2022, Nordic Asia announced in a press release that it is taking over the employments of the analysts in Shanghai who previously worked on a consulting basis by acquiring the local company Ruihua Business Consulting ("Ruihua"). The purchase price amounts to approximately SEK 1.5 million, corresponding to the net value of Ruihua's assets at the end of the service agreement, and the acquisition will not have any significant effect on Nordic Asia's result and financial position in 2022.
Nordic Asia is a Swedish investment company with a focus on investments in primarily Chinese companies that focus on domestic consumption. The company's business concept is based on applying an investment model for long-term strategic ownership of listed companies with a focus on the growing Chinese consumer market. Nordic Asia has around twenty portfolio companies and invests in listed companies that are listed in Shanghai, Shenzhen, Hong Kong and the USA and that have a market capitalization of at least USD 1 billion.
For further information, refer to the press release published on the Company's website Investor Relations-sida.
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