GUINNESS ATKINSON CHINA & HONG KONG FUND | ||||||||
Schedule of Investments | ||||||||
at September 30, 2020 (Unaudited) | ||||||||
Shares | Common Stocks: 100.3% | Value | ||||||
Appliances: 7.0% | ||||||||
551,000 | Haier Electronics Group Co., Ltd. | $ | 2,004,134 | |||||
181,009 | Zhejiang Supor Cookware | 2,112,790 | ||||||
4,116,924 | ||||||||
Auto/Cars - Light Trucks: 3.7% | ||||||||
1,074,000 | Geely Automobile Holdings Ltd. | 2,165,619 | ||||||
Auto/Truck Parts & Equipment: 3.5% | ||||||||
1,021,480 | Weichai Power Co., Ltd. - H Shares | 2,069,765 | ||||||
Building Products: 9.9% | ||||||||
284,000 | Anhui Conch Cement Co., Ltd. - H Shares | 1,968,884 | ||||||
252,820 | Beijing Oriental Yuhong Waterproof Technology Co., Ltd. | 2,019,968 | ||||||
1,002,000 | China Lesso Group Holdings Ltd. | 1,817,226 | ||||||
5,806,078 | ||||||||
Casino Hotels: 3.0% | ||||||||
257,000 | Galaxy Entertainment Group Ltd. | 1,738,144 | ||||||
Commercial Banks: 3.3% | ||||||||
405,000 | China Merchants Bank Co., Ltd. - H Shares | 1,927,224 | ||||||
Computer Data Security: 3.3% | ||||||||
377,850 | Venustech Group Inc. | 1,933,111 | ||||||
E-Commerce/Services: 12.2% | ||||||||
9,100 | Alibaba Group Holding Ltd. - ADR | 2,675,218 | ||||||
21,300 | Autohome Inc. | 2,044,800 | ||||||
31,700 | JD.com Inc. | 2,460,237 | ||||||
7,180,255 | ||||||||
Food-Dairy Products: 3.6% | ||||||||
374,800 | Inner Mongolia Yili Industrial Group Co., Ltd. | 2,141,542 | ||||||
Gas-Distribution: 3.5% | ||||||||
456,000 | China Resources Gas Group Ltd. | 2,044,819 | ||||||
Home Furniture: 3.5% | ||||||||
535,700 | Suofeiya Home Collection | 2,090,764 | ||||||
Industrial Automation: 3.0% | ||||||||
159,100 | Hollysys Automation Technologies Ltd. | 1,758,055 | ||||||
Insurance: 3.1% | ||||||||
175,500 | Ping An Insurance Group Company of China Ltd. - H Shares | 1,818,034 |
Internet Application Software: 3.6% | ||||||||
31,600 | Tencent Holdings Ltd. | $ | 2,130,668 | |||||
Internet Content - Entertainment: 3.7% | ||||||||
4,775 | NetEase Inc. - ADR | 2,171,049 | ||||||
Machinery-General Industry: 7.1% | ||||||||
787,000 | Haitian International Holdings Ltd. | 1,838,423 | ||||||
636,500 | Sany Heavy Industry Co., Ltd. | 2,348,517 | ||||||
4,186,940 | ||||||||
Pharmaceuticals: 9.2% | ||||||||
1,526,000 | China Medical System Holdings | 1,692,500 | ||||||
934,000 | CSPC Pharmaceutical Group Ltd. | 1,830,136 | ||||||
1,696,500 | Sino Biopharmaceutical Ltd. | 1,868,882 | ||||||
5,391,518 | ||||||||
Public Thoroughfares: 2.4% | ||||||||
1,650,000 | Shenzhen Expressway Co., Ltd. - H Shares | 1,438,154 | ||||||
Real Estate Operations/Development: 2.2% | ||||||||
522,000 | China Overseas Land & Investments Ltd. | 1,318,364 | ||||||
Retail - Apparel/Shoe: 2.7% | ||||||||
2,914,000 | China Lilang Ltd. | 1,605,152 | ||||||
Schools: 3.5% | ||||||||
14,000 | New Oriental Education & Technology Group Inc. - ADR* | 2,093,000 | ||||||
Web Portals: 3.3% | ||||||||
15,300 | Baidu Inc.* | $ | 1,936,827 | |||||
Total Common Stocks | 59,062,006 | |||||||
(cost $42,355,602) | ||||||||
Total Investments in Securities | 59,062,006 | |||||||
(cost $42,355,602): 100.3% | ||||||||
Liabilities in excess of assets: (0.3%) | (170,666 | ) | ||||||
Net Assets: 100.0% | $ | 58,891,340 |
* | Non-income producing security. |
ADR - American Depository Receipt