Value China ETF reported audited earnings results for the year ended March 31, 2012. For the year, the company reported net investment expense of HKD 37,450,850 against net investment income of HKD 62,656,836 for the same period last year. Loss before taxation was HKD 41,706,026 against profit before taxation of HKD 56,953,664 for the same period last year. Loss after taxation and total comprehensive income for the year was HKD 42,443,771 against profit after taxation and total comprehensive income for the year of HKD 55,723,955 for the same period last year. Cash flows generated from operating activities was HKD 7,369,307 against HKD 13,041,619 for the same period last year. Net asset value per unit as at March 31, 2012 was HKD 35.06 against HKD 41.64 as at March 31, 2011.