UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM N-Q
QUARTERLY SCHEDULE OF PORTFOLIO HOLDINGS OF REGISTERED
MANAGEMENT INVESTMENT COMPANY
Investment Company Act file number 811-06686
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JF China Region Fund, Inc.
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(Exact name of registrant as specified in charter)
301 Bellevue Parkway
Wilmington, DE 19809
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(Address of principal executive offices) (Zip code)
Cleary, Gottlieb, Steen & Hamilton
1 Liberty Plaza
New York, NY 10006
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(Name and address of agent for service)
Registrant's telephone number, including area code: 800-441-9800
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Date of fiscal year end: December 31, 2004
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Date of reporting period: September 30, 2004
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Form N-Q is to be used by management investment companies, other than small
business investment companies registered on Form N-5 (ss.ss. 239.24 and 274.5 of
this chapter), to file reports with the Commission, not later than 60 days after
the close of the first and third fiscal quarters, pursuant to rule 30b1-5 under
the Investment Company Act of 1940 (17 CFR 270.30b1-5). The Commission may use
the information provided on Form N-Q in its regulatory, disclosure review,
inspection, and policymaking roles.
A registrant is required to disclose the information specified by Form N-Q, and
the Commission will make this information public. A registrant is not required
to respond to the collection of information contained in Form N-Q unless the
Form displays a currently valid Office of Management and Budget ("OMB") control
number. Please direct comments concerning the accuracy of the information
collection burden estimate and any suggestions for reducing the burden to the
Secretary, Securities and Exchange Commission, 450 Fifth Street, NW, Washington,
DC 20549-0609. The OMB has reviewed this collection of information under the
clearance requirements of 44 U.S.C. ss. 3507.
ITEM 1. SCHEDULE OF INVESTMENTS.
The Schedule of Investments is attached herewith.
[LOGO OMITTED]
JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO
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AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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COMMON STOCKS (UNLESS OTHERWISE NOTED)
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CHINA (25.5%)
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AIR FREIGHT & COURIERS (1.0%)
Sinotrans 'H' 1,766,000 611,504
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AUTO COMPONENTS (0.5%)
Weifu High-Technology 'B' 344,000 296,905
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AUTOMOBILES (1.8%)
Chongqing Changan Automobile 'B' 1,684,500 1,071,513
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BIOTECHNOLOGY (0.7%)
Tong Ren Tang Technologies 'H' 182,000 396,794
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CHEMICALS (3.3%)
Sinopec Beijing Yanhua Petrochemical 'H' 2,474,000 999,436
Sinopec Shanghai Petrochemical 'H' 2,560,000 976,723
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1,976,159
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COMMERCIAL SERVICES & SUPPLIES (0.2%)
* CCID Consulting 'H' 4,200,000 129,272
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DIVERSIFIED TELECOMMUNICATION SERVICES (1.9%)
China Telecom 'H' 3,522,000 1,140,500
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ELECTRIC UTILITIES (0.3%)
Beijing Datang Power Generation 'H' 222,000 180,789
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HOUSEHOLD DURABLES (0.9%)
* Guangdong Kelon Electrical Holdings 'H' 1,516,000 544,380
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INSURANCE (0.3%)
* PICC Property and Casualty 'H' 556,000 196,088
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MACHINERY (2.7%)
China International Marine Containers 'B' 69,696 126,387
Shanghai Zhenhua Port Machinery 'B' 600,000 518,400
* Weichai Power 'H' 484,000 980,724
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1,625,511
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MARINE (0.9%)
* China Shipping Container 'H' 476,000 204,501
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1
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JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO (CONTINUED)
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AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED)
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CHINA (CONTINUED)
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MARINE (0.2%)
China Shipping Development 'H' 248,000 211,504
Chiwan Wharf-B 77,600 135,545
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551,550
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METALS & MINING (2.1%)
Aluminum Corporation of China 'H' 384,000 248,695
Jiangxi Copper 'H' 1,162,000 681,776
Yanzhou Coal Mining 'H' 264,000 341,956
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1,272,427
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OIL & GAS (5.8%)
China Petroleum and Chemical 'H' 2,620,000 1,066,816
PetroChina 'H' 2,302,000 1,232,556
Sinopec Zhenhai Refining and Chemical 'H' 1,092,000 1,148,368
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3,447,740
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PAPER & FOREST PRODUCTS (1.2%)
* Shandong Chenming Paper Holdings 'B' 1,131,900 724,358
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PHARMACEUTICALS (0.4%)
Hua Han Bio-Pharmaceutical Holdings 'H' 2,200,000 225,713
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TEXTILES, APPAREL & LUXURY GOODS (1.5%)
Weiqiao Textile 'H' 540,500 876,861
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TOTAL CHINA 15,268,064
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HONG KONG (52.6%)
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AUTOMOBILES (0.4%)
Denway Motors Limited 764,000 254,748
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COMMERCIAL BANKS (6.8%)
Bank of East Asia, Ltd 214,200 601,601
BOC Hong Kong (Holdings) 1,138,000 2,079,705
CITIC International Financial Holdings 422,000 171,831
Hang Seng Bank Limited 89,300 1,191,048
Hutchison Whampoa Rts 987 0
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4,044,185
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COMPUTERS & PERIPHERALS (0.5%)
TPV Technology 432,000 272,857
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2
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JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO (CONTINUED)
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AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED)
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HONG KONG (CONTINUED)
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CONSTRUCTION & ENGINEERING (1.0%)
* COSCO International Holdings 4,300,000 584,546
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CONTAINERS & PACKAGING (3.1%)
Hung Hing Printing Group 790,000 607,887
Singamas Container Holdings 2,500,000 1,218,339
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1,826,226
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DISTRIBUTORS (1.2%)
China Resources Enterprises 530,000 689,901
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DIVERSIFIED TELECOMMUNICATION SERVICES (0.5%)
* PCCW 448,000 295,890
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ELECTRIC UTILITIES (1.9%)
China Resources Power Holdings 870,000 499,295
Foshan Electrical & Lighting B 269,600 326,735
Huaneng Power International 390,000 315,101
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1,141,131
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ELECTRONIC EQUIPMENT & INSTRUMENTS (0.8%)
Digital China Holdings 1,704,000 469,843
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FOOD PRODUCTS (2.6%)
* China Mengniu Dairy 1,640,000 1,272,459
COFCO International 228,000 93,568
Global Bio-chem Technology Group 246,000 187,714
* Global Bio-chem Technology Group Warrants - expire 05/31/2007 150,250 10,020
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1,563,761
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HEALTHCARE EQUIPMENT & SUPPLIES (0.5%)
Hengan International Group 564,000 287,515
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HOUSEHOLD DURABLES (4.1%)
Alco Holdings 1,600,000 461,687
Skyworth Digital Holdings 4,352,456 1,186,145
Techtronic Industries Company Limited 406,500 800,228
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2,448,060
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INDUSTRIAL CONGLOMERATES (1.0%)
Hutchison Whampoa 74,000 578,904
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3
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JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO (CONTINUED)
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AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED)
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HONG KONG (CONTINUED)
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INSURANCE (0.2%)
China Insurance International Holdings 270,000 139,372
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MEDIA (1.2%)
Oriental Press Group 1,886,000 725,617
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METALS & MINING (0.2%)
Zijin Mining Group 364,000 121,372
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MISCELLANEOUS (0.0%)
* Health Asia MediCentres Beijing++ 1,000,000 0
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MULTILINE RETAIL (2.0%)
Aeon Stores (Hong Kong) 1,000,000 897,724
* Lifestyle International Holdings 172,000 269,112
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1,166,836
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OIL & GAS (1.1%)
CNOOC 1,303,000 680,952
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REAL ESTATE (0.5%)
Cathay Pacific Airways 187,000 320,160
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REAL ESTATE (12.8%)
Cheung Kong Holdings 71,000 607,791
Hang Lung Properties 450,000 663,674
Henderson Land 99,000 473,575
Hysan Development Company Ltd. 677,000 1,193,812
New World Development Company Limited 591,000 557,082
Sung Hung Kai Properties 123,000 1,159,410
Swire Pacific 'A' 226,500 1,575,842
Wharf (Holdings) 268,000 902,212
Wheelock and Company Limited 364,000 529,837
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7,663,235
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TEXTILES, APPAREL & LUXURY GOODS (1.7%)
Giordano International Limited 846,000 466,534
Luen Thai Holdings 180,000 88,875
Luthai Textile 144,300 121,954
* Titan Petrochemicals Group 5,500,000 366,784
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1,044,147
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TRANSPORTATION INFRASTRUCTURE (5.6%)
China Merchants Holdings International 456,000 687,143
4
[LOGO OMITTED]
JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO (CONTINUED)
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AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED)
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HONG KONG (CONTINUED)
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TRANSPORTATION INFRASTRUCTURE (CONTINUED)
Cosco Pacific 638,000 1,063,674
GZI Transport 2,150,000 599,711
Hopewell Holdings 400,000 833,601
Jiangsu Expressway Co., Ltd Series H 422,000 182,655
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3,366,784
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WIRELESS TELECOMMUNICATION SERVICES (2.9%)
China Mobile (Hong Kong) 579,500 1,761,353
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TOTAL HONG KONG 31,447,395
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SINGAPORE (1.0%)
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CONTAINERS & PACKAGING (1.0%)
Full Appex Holdings 2,000,000 581,931
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TOTAL SINGAPORE 581,931
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SOUTH KOREA (1.3%)
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MARINE (1.3%)
Hanjin Shipping 45,000 767,911
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TOTAL SOUTH KOREA 767,911
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TAIWAN (16.2%)
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AIRLINES (0.0%)
EVA Airways 727 283
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COMMERCIAL BANKS (3.6%)
Bank of Kaohsiung 827,000 569,506
Chinatrust Financial Holding 565,826 609,454
* Cosmos Bank Taiwan 1,003,000 466,374
* First Financial Holding 313,000 233,046
Yuanta Securities Co. Ltd 419,000 295,939
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2,174,319
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ELECTRONIC EQUIPMENT & INSTRUMENTS (2.1%)
Synnex Technology International 869,000 1,240,333
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HOUSEHOLD DURABLES (0.5%)
Hon Hai Precision Industry 91,000 313,331
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5
[LOGO OMITTED]
JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO (CONTINUED)
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AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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COMMON STOCKS (UNLESS OTHERWISE NOTED) (CONTINUED)
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TAIWAN (CONTINUED)
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INSURANCE (1.3%)
* Cathay Financial Holding GDR 39,183 751,138
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LEISURE EQUIPMENT & PRODUCTS (0.5%)
Premier Image Technology 412,650 318,170
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PAPER & FOREST PRODUCTS (1.3%)
Chung Hwa Pulp 958,500 454,145
Yuen Foong Yu Mfg 622,000 313,014
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767,159
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SEMICONDUCTORS & SEMICONDUCTOR EQUIPMENT (3.0%)
Advanced Semiconductor Engineering 387,000 257,393
Taiwan Semiconductor Manufacturing 862,184 1,098,663
* United Microelectronics 320 193
* Windbond Electronics 1,001,000 405,054
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1,761,303
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SOFTWARE (0.5%)
Soft-World International 206,778 313,393
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SPECIALTY RETAIL (0.5%)
Hotai Motor 195,000 321,365
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TEXTILES, APPAREL & LUXURY GOODS (0.6%)
Far East Department Stores 709,000 360,968
Pou Chen 899 730
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361,698
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WIRELESS TELECOMMUNICATION SERVICES (2.3%)
Chunghwa Telecom Co.,Ltd. 75,000 124,705
Far EasTone Telecommunications 365,900 345,656
Taiwan Cellular 912,000 874,962
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1,345,323
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TOTAL TAIWAN 9,667,815
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TIME DEPOSITS
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Time Deposit 803,509 803,509
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TOTAL TIME DEPOSITS 803,509
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6
[LOGO OMITTED]
JF CHINA REGION FUND, INC.
INVESTMENT PORTFOLIO (CONTINUED)
--------------------------------------------------------------------------------
AT SEPTEMBER 30, 2004 (UNAUDITED)
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Holdings Market
(in shares Value
Description or par) (in US$)
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TOTAL INVESTMENTS
(97.9% of Net Assets) (Cost $53,804,810) 58,536,625
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Other assets in excess of liabilities (2.1% of Net Assets) 1,229,633
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NET ASSETS (100.0%) 59,766,258
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GDR - Global Depository Receipts
* Non-income producing security .
7
ITEM 2. CONTROLS AND PROCEDURES.
(a) The registrant's principal executive and principal financial officers,
or persons performing similar functions, have concluded that the
registrant's disclosure controls and procedures (as defined in Rule
30a-3(c) under the Investment Company Act of 1940, as amended (the
"1940 Act") (17 CFR 270.30a-3(c))) are effective, as of a date within
90 days of the filing date of the report that includes the disclosure
required by this paragraph, based on their evaluation of these
controls and procedures required by Rule 30a-3(b) under the 1940 Act
(17 CFR 270.30a-3(b)) and Rules 13a-15(b) or 15d-15(b) under the
Securities Exchange Act of 1934, as amended (17 CFR 240.13a-15(b) or
240.15d-15(b)).
(b) There were no changes in the registrant's internal control over
financial reporting (as defined in Rule 30a-3(d) under the 1940 Act
(17 CFR 270.30a-3(d)) that occurred during the registrant's last
fiscal quarter that have materially affected, or are reasonably likely
to materially affect, the registrant's internal control over financial
reporting.
ITEM 3. EXHIBITS.
Certifications pursuant to Rule 30a-2(a) under the 1940 Act and Section 302 of
the Sarbanes-Oxley Act of 2002 are attached hereto.
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, the registrant has duly caused this report to be
signed on its behalf by the undersigned, thereunto duly authorized.
(Registrant) JF China Region Fund, Inc.
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By (Signature and Title)* /s/ Simon Crinage
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Simon Crinage, President
(principal executive officer)
Date November 16, 2004
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Pursuant to the requirements of the Securities Exchange Act of 1934 and the
Investment Company Act of 1940, this report has been signed below by the
following persons on behalf of the registrant and in the capacities and on the
dates indicated.
By (Signature and Title)* /s/ Simon Crinage
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Simon Crinage, President
(principal executive officer)
Date November 16, 2004
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By (Signature and Title)* /s/ Douglas Eu
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Douglas Eu, Treasurer
(principal financial officer)
Date November 16, 2004
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* Print the name and title of each signing officer under his or her signature.