The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

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COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
AMAZON.COM INC AMZN US COM 023135106 3,298 1,900 SH   DFND   1,900 0 0
ALIBABA GROUP HOLDING-SP ADR BABA US SPONSORED ADS 01609W102 133,784 800,000 SH   DFND   800,000 0 0
BILIBILI INC-SPONSORED ADR BILI US SPONS ADS REP Z 090040106 25,731 1,822,282 SH   DFND   1,822,282 0 0
FACEBOOK INC-CLASS A FB US CL A 30303M102 3,134 17,600 SH   DFND   17,600 0 0
GENERAL ELECTRIC CO GE US COM 369604103 1,452 162,400 SH   DFND   162,400 0 0
ALPHABET INC-CL C GOOG US CAP STK CL C 02079K107 1,097 900 SH   DFND   900 0 0
HALLIBURTON CO HAL US COM 406216101 1,140 60,500 SH   DFND   60,500 0 0
HUYA INC-ADR HUYA US ADS REP SHS A 44852D108 340 14,400 SH   DFND   14,400 0 0
IQIYI INC-ADR IQ US SPONSORED ADS 46267X108 8,673 537,700 SH   DFND   537,700 0 0
JD.COM INC-ADR JD US SPON ADR CL A 47215P106 6,446 228,500 SH   DFND   228,500 0 0
MACY'S INC M US COM 55616P104 5,315 342,000 SH   DFND   342,000 0 0
PINDUODUO INC-ADR PDD US SPONSORED ADS 722304102 638 19,800 SH   DFND   19,800 0 0
SINA CORP SINA US ORD G81477104 23,040 587,900 SH   DFND   587,900 0 0
TAL EDUCATION GROUP- ADR TAL US SPONSORED ADS 874080104 38,004 1,109,925 SH   DFND   1,109,925 0 0
TENCENT MUSIC ENTERTAINM-ADR TME US SPON ADS 88034P109 11,453 896,900 SH   DFND   896,900 0 0
UBER TECHNOLOGIES INC UBER US COM 90353T100 1,112 36,500 SH   DFND   36,500 0 0
VIPSHOP HOLDINGS LTD - ADR VIPS US SPONSORED ADS A 92763W103 19,125 2,144,100 SH   DFND   2,144,100 0 0
WEIBO CORP-SPON ADR WB US SPONSORED ADR 948596101 45,507 1,016,916 SH   DFND   1,016,916 0 0
YELP INC YELP US CL A 985817105 2,520 72,506 SH   DFND   72,506 0 0
YUNJI INC-ADR YJ US ADS RP CL A 98873N107 14,246 2,073,639 SH   DFND   2,073,639 0 0
YY INC-ADR YY US SPONSORED ADS A 98426T106 17,716 315,071 SH   DFND   315,071 0 0
ZILLOW GROUP INC - C Z US CL C CAP STK 98954M200 3,304 110,800 SH   DFND   110,800 0 0
ZTO EXPRESS CAYMAN INC-ADR ZTO US SPONSORED ADS A 98980A105 37,708 1,767,822 SH   DFND   1,767,822 0 0
LIGHTINTHEBOX HOLDING-ADR SPONSORED ADR 53225G102 3,045 2,537,855 SH   DFND   2,537,855 0 0
LAIX INC - ADR ADS 50736W105 24,352 5,663,164 SH   DFND   5,663,164 0 0
PUXIN LTD-ADR ADS 74704P108 23,746 2,979,470 SH   DFND   2,979,470 0 0