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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
OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8
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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
IQIYI INC SPONSORED ADS 46267X108   9,346,313 1,915,228 SH   SOLE   1,915,228 0 0
NETEASE INC SPONSORED ADS 64110W102   11,593,203 124,444 SH   SOLE   124,444 0 0
H WORLD GROUP LTD SPONSORED ADS 44332N106   2,720,010 81,340 SH   SOLE   81,340 0 0
PDD HOLDINGS INC SPONSORED ADS 722304102   46,364,469 316,892 SH   SOLE   316,892 0 0
KANZHUN LIMITED SPONSORED ADS 48553T106   4,987,036 300,243 SH   SOLE   300,243 0 0
ATOUR LIFESTYLE HLDGS LTD SPONSORED ADS 04965M106   1,646,874 94,866 SH   SOLE   94,866 0 0
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   2,172,218 28,025 SH   SOLE   28,025 0 0
TRIP COM GROUP LTD ADS 89677Q107   3,468,411 96,318 SH   SOLE   96,318 0 0
BAIDU INC SPON ADR REP A 056752108   310,229 2,605 SH   SOLE   2,605 0 0
RLX TECHNOLOGY INC SPONSORED ADS 74969N103   17,361,092 8,680,546 SH   SOLE   8,680,546 0 0
KE HLDGS INC SPONSORED ADS 482497104   4,374,771 269,881 SH   SOLE   269,881 0 0
MICROSOFT CORP COM 594918104   33,843,600 90,000 SH   SOLE   90,000 0 0
TAL EDUCATION GROUP SPONSORED ADS 874080104   20,508,986 1,623,831 SH   SOLE   1,623,831 0 0
YUM CHINA HLDGS INC COM 98850P109   2,129,604 50,191 SH   SOLE   50,191 0 0
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581206   1,041,162 14,208 SH   SOLE   14,208 0 0
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109   3,581,835 397,540 SH   SOLE   397,540 0 0
ZTO EXPRESS CAYMAN INC SPONSORED ADS A 98980A105   46,111,887 2,166,912 SH   SOLE   2,166,912 0 0
ALPHABET INC CAP STK CL C 02079K107   2,113,950 15,000 SH   SOLE   15,000 0 0
IQIYI INC SPONSORED ADS 46267X108   45,163,078 9,254,729 SH   DFND   0 0 9,254,729
NETEASE INC SPONSORED ADS 64110W102   15,895,052 170,621 SH   DFND   0 0 170,621
H WORLD GROUP LTD SPONSORED ADS 44332N106   21,473,830 642,160 SH   DFND   0 0 642,160
PDD HOLDINGS INC SPONSORED ADS 722304102   48,701,332 332,864 SH   DFND   0 0 332,864
KANZHUN LIMITED SPONSORED ADS 48553T106   2,152,905 129,615 SH   DFND   0 0 129,615
ATOUR LIFESTYLE HLDGS LTD SPONSORED ADS 04965M106   12,406,827 714,679 SH   DFND   0 0 714,679
ALIBABA GROUP HLDG LTD SPONSORED ADS 01609W102   2,365,373 30,517 SH   DFND   0 0 30,517
TRIP COM GROUP LTD ADS 89677Q107   1,399,277 38,858 SH   DFND   0 0 38,858
BAIDU INC SPON ADR REP A 056752108   1,045,610 8,780 SH   DFND   0 0 8,780
RLX TECHNOLOGY INC SPONSORED ADS 74969N103   6,516,648 3,258,324 SH   DFND   0 0 3,258,324
KE HLDGS INC SPONSORED ADS 482497104   1,914,352 118,097 SH   DFND   0 0 118,097
YUM CHINA HLDGS INC COM 98850P109   991,929 23,378 SH   DFND   0 0 23,378
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581206   687,660 9,384 SH   DFND   0 0 9,384
TENCENT MUSIC ENTMT GROUP SPON ADS 88034P109   28,162,620 3,125,707 SH   DFND   0 0 3,125,707
ZTO EXPRESS CAYMAN INC SPONSORED ADS A 98980A105   17,215,243 808,987 SH   DFND   0 0 808,987