Matthews Asia Dividend Fund

Matthews Asia Funds
Portfolio Holdings: 31 December 2018

Security Country Sector Shares Value
Shenzhou International Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 1,660,000 18,866,652
Minth Group, Ltd. China/Hong Kong Consumer Discretionary 5,326,000 17,196,207
Hyundai Mobis Co., Ltd. South Korea Consumer Discretionary 81,716 13,947,221
BGF Retail Co., Ltd. South Korea Consumer Staples 74,855 13,695,068
NTT DoCoMo, Inc. Japan Communication Services 609,000 13,693,235
Seven & i Holdings Co., Ltd. Japan Consumer Staples 307,200 13,353,989
Kao Corp. Japan Consumer Staples 172,800 12,827,606
Hoya Corp. Japan Health Care 187,400 11,336,004
China Petroleum & Chemical Corp. H Shares China/Hong Kong Energy 14,840,000 10,584,170
Japan Tobacco, Inc. Japan Consumer Staples 428,400 10,198,034
Taiwan Semiconductor Manufacturing Co., Ltd. ADR Taiwan Information Technology 267,739 10,062,078
Anritsu Corp. Japan Information Technology 719,500 9,996,805
Pigeon Corp. Japan Consumer Staples 232,900 9,961,771
Nitori Holdings Co., Ltd. Japan Consumer Discretionary 78,800 9,877,430
United Overseas Bank, Ltd. Singapore Financials 541,800 9,787,272
MISUMI Group, Inc. Japan Industrials 451,600 9,553,011
China Gas Holdings, Ltd. China/Hong Kong Utilities 2,614,600 9,323,244
LG Chem, Ltd., Pfd. South Korea Materials 51,930 9,130,523
Rohm Co., Ltd. Japan Information Technology 139,900 8,986,871
China Resources Power Holdings Co., Ltd. China/Hong Kong Utilities 4,578,000 8,791,847
ITC, Ltd. India Consumer Staples 2,016,794 8,136,218
Huaneng Power International, Inc. H Shares China/Hong Kong Utilities 12,104,000 7,697,805
Beijing Capital International Airport Co., Ltd. H Shares China/Hong Kong Industrials 7,236,000 7,674,386
WH Group, Ltd. China/Hong Kong Consumer Staples 9,527,000 7,330,589
Chongqing Brewery Co., Ltd. A Shares China/Hong Kong Consumer Staples 1,599,513 7,181,869
Sun Art Retail Group, Ltd. China/Hong Kong Consumer Staples 7,031,500 7,169,232
Fuji Seal International, Inc. Japan Materials 198,400 7,009,143
Breville Group, Ltd. Australia Consumer Discretionary 911,474 6,859,716
HKBN, Ltd. China/Hong Kong Communication Services 4,492,135 6,814,043
Globe Telecom, Inc. Philippines Communication Services 187,450 6,772,939
PT United Tractors Indonesia Energy 3,395,700 6,489,830
Thai Beverage Public Co., Ltd. Thailand Consumer Staples 14,287,400 6,405,458
Vietnam Dairy Products JSC Vietnam Consumer Staples 1,134,648 5,885,960
Fuyao Glass Industry Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 1,835,600 5,873,028
Eiken Chemical Co., Ltd. Japan Health Care 266,000 5,822,999
Samsung Fire & Marine Insurance Co., Ltd. South Korea Financials 24,103 5,810,815
Woori Bank South Korea Financials 401,927 5,630,428
Hua Hong Semiconductor, Ltd. China/Hong Kong Information Technology 3,009,000 5,573,040
Taiwan Semiconductor Manufacturing Co., Ltd. Taiwan Information Technology 750,000 5,541,508
Yuexiu Transport Infrastructure, Ltd. China/Hong Kong Industrials 7,186,000 5,452,122
GrameenPhone, Ltd. Bangladesh Communication Services 1,237,373 5,393,764
China Steel Chemical Corp. Taiwan Materials 1,162,000 5,209,295
Nifco, Inc. Japan Consumer Discretionary 214,900 5,103,313
Dairy Farm International Holdings, Ltd. China/Hong Kong Consumer Staples 563,600 5,098,912
BELLSYSTEM24 Holdings, Inc. Japan Industrials 430,000 5,093,036
Minda Industries, Ltd. India Consumer Discretionary 1,074,827 4,975,010
China Mobile, Ltd. China/Hong Kong Communication Services 503,000 4,847,749
Far East Horizon, Ltd. China/Hong Kong Financials 4,548,000 4,587,575
Postal Savings Bank of China Co., Ltd. H Shares China/Hong Kong Financials 8,532,000 4,497,602
Outsourcing, Inc. Japan Industrials 467,000 4,491,579
Crystal International Group, Ltd. China/Hong Kong Consumer Discretionary 8,790,000 4,455,691
Fanhua, Inc. ADR China/Hong Kong Financials 181,914 4,155,924
Mitsubishi Pencil Co., Ltd. Japan Industrials 205,000 4,065,642
China Education Group Holdings, Ltd. China/Hong Kong Consumer Discretionary 3,253,000 3,992,148
CapitaLand Retail China Trust, REIT Singapore Real Estate 3,710,520 3,708,405
Ascendas India Trust Singapore Real Estate 4,277,600 3,392,926
Shanghai Jin Jiang International Hotels Group Co., Ltd. H Shares China/Hong Kong Consumer Discretionary 13,206,000 3,205,577
Cafe de Coral Holdings, Ltd. China/Hong Kong Consumer Discretionary 1,282,000 3,110,193
PT Cikarang Listrindo Indonesia Utilities 37,350,700 2,311,691
China Mobile, Ltd. ADR China/Hong Kong Communication Services 24,300 1,160,084
China Petroleum & Chemical Corp. ADR China/Hong Kong Energy 15,600 1,096,309
Gujarat Pipavav Port, Ltd. India Industrials 429,779 631,906
Net Cash United States 13,130,171 13,130,171



The portfolio data is for information only. It does not constitute a recommendation or an offer for a particular security or fund, nor should it be taken as a solicitation or a recommendation to buy or sell securities or other investments.

Portfolio holdings are subject to change without notice and may not represent current or future portfolio composition.

Investors should ascertain from their professional advisers the consequences of investing in the Fund under the relevant laws of the jurisdictions to which they are subject, including the tax consequences and any exchange control requirement. Investors should carefully consider the investment objectives, risks, charges and expenses of the Fund before making an investment decision. The current prospectus, Supplement for Hong Kong investors, Product Key Facts Statements or other offering documents (“Hong Kong Offering Document”) contain this and other information and can be obtained by visiting hk.matthewsasia.com.  Please read the Hong Kong Offering Documents carefully for further details including risk factors before investing.