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| # | Issuer | Value | Shares | % Portfolio |
|---|---|---|---|---|
| 1 | PDD HOLDINGS INC | $212.8M | 2082327 | 38.56% |
| 2 | VNET GROUP INC | $93.9M | 11187682 | 17.01% |
| 3 | QFIN HOLDINGS INC | $45.1M | 3496428 | 8.18% |
| 4 | GDS HLDGS LTD | $43.8M | 1087902 | 7.94% |
| 5 | ALIBABA GROUP HLDG LTD | $29.5M | 235429 | 5.35% |
| 6 | ATOUR LIFESTYLE HLDGS LTD | $20.8M | 565169 | 3.77% |
| 7 | KE HLDGS INC | $20.7M | 1379707 | 3.74% |
| 8 | TRIP COM GROUP LTD | $19.3M | 388593 | 3.51% |
| 9 | FULL TRUCK ALLIANCE CO LTD | $19.2M | 2317919 | 3.49% |
| 10 | H WORLD GROUP LTD | $11.9M | 237435 | 2.16% |
| 11 | LEGEND BIOTECH CORP | $11.4M | 629914 | 2.06% |
| 12 | IQIYI INC | $10.9M | 8065100 | 1.97% |
| 13 | NEW ORIENTAL ED & TECHNOLOGY | $9.8M | 172299 | 1.77% |
| 14 | TUYA INC | $2.6M | 1145371 | 0.48% |
Values in USD (reported in $thousands on 13F). Source: SEC EDGAR.