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 FIGI (to the nearest dollar) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ATOUR LIFESTYLE HOLDINGS LTD SPONSORED ADS 04965M106   6,496,000 400,000 SH   SOLE   400,000 0 0
DAQO NEW ENERGY CORP SPNSRD ADS NEW 23703Q203   17,071,000 430,000 SH   SOLE   430,000 0 0
H WORLD GROUP LTD SPONSORED ADS 44332N106   1,939,000 500,000 SH   SOLE   500,000 0 0
IQIYI INC SPONSORED ADS 46267X108   1,602,000 300,000 SH   SOLE   300,000 0 0
JINKOSOLAR HLDG CO LTD SPONSORED ADR 47759T100   31,066,000 700,000 SH   SOLE   700,000 0 0
KANZHUN LIMITED SPONSORED ADS 48553T106   4,515,000 600,000 SH   SOLE   600,000 0 0
KE HLDGS INC SPONSORED ADS 482497104   5,940,000 1,200,000 SH   SOLE   1,200,000 0 0
NEW ORIENTAL ED & TECHNOLOGY SPON ADR 647581206   1,974,500 500,000 SH   SOLE   500,000 0 0
PDD HOLDINGS INC SPONSORED ADS 722304102   10,371,000 150,000 SH   SOLE   150,000 0 0
TAL EDUCATION GROUP SPONSORED ADS 874080104   42,775,111 7,177,032 SH   SOLE   7,177,032 0 0
YS BIOPHARMA CO LTD ORDINARY SHARES G9845F109   492,866 357,149 SH   SOLE   357,149 0 0
YS BIOPHARMA CO LTD *W EXP 03/15/202 G9845F117   23,500 500,000 SH   SOLE   500,000 0 0