First Beijing Investment Ltd Diversified Active

Location: Hong Kong

CIK: 0001701717 · Show all filings

Period: Q2 2026 (← Previous)

Filing Date: Aug 12, 2026

Total Value: $2.444B (100.0% shares, 0.0% debt)

Holdings (11)

New Positions (1)

FUTU FUTU HLDGS LTD 5.3%

Value $129M Shares 1,379,102 Est. Cost $93.74 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
FUTU	FUTU HLDGS LTD	1,379,102	$129M	5.3%	$93.74	—	SPON ADS CL A	36118L106

Increased Positions (3)

SE SEA LTD 12.2%

Value $298M (+1621.8%) Shares 3,109,067 (+1387.9%) Est. Cost $94.95 Unrealized —

PDD PDD HOLDINGS INC 29.3%

Value $715M (-14.1%) Shares 9,377,416 (+15.1%) Est. Cost $101.67 Unrealized —

YMM FULL TRUCK ALLIANCE CO LTD 30.5%

Value $745M (-0.2%) Shares 91,790,875 (+2.0%) Est. Cost $10.92 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
SE	SEA LTD	3,109,067 (+1387.9%)	$298M (+1621.8%)	12.2%	$94.95	—	SPONSORD ADS	81141R100
PDD	PDD HOLDINGS INC	9,377,416 (+15.1%)	$715M (-14.1%)	29.3%	$101.67	—	SPONSORED ADS	722304102
YMM	FULL TRUCK ALLIANCE CO LTD	91,790,875 (+2.0%)	$745M (-0.2%)	30.5%	$10.92	—	SPONSORED ADS	35969L108

Exited Positions (2)

LEGN LEGEND BIOTECH CORP 1.7%

Value $41.54M Shares 2,296,335 Est. Cost $18.09 Unrealized —

API AGORA INC 0.0%

Value $27,258 Shares 7,700 Est. Cost $3.81 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
LEGN	LEGEND BIOTECH CORP	2,296,335	$41.54M	1.7%	$18.09	—	—	52490G102
API	AGORA INC	7,700	$27,258	0.0%	$3.81	—	—	00851L103

Decreased Positions (5)

EDU NEW ORIENTAL ED & TECHNOLOGY 16.4%

Value $401M (-21.3%) Shares 8,733,979 (-2.9%) Est. Cost $50.94 Unrealized —

KSPI KASPI KZ JSC 1.5%

Value $36.79M (+14.3%) Shares 424,613 (-2.2%) Est. Cost $75.12 Unrealized —

DDL DINGDONG CAYMAN LTD 0.0%

Value $1.201M (-44.7%) Shares 622,432 (-26.4%) Est. Cost $2.57 Unrealized —

NOAH NOAH HLDGS LTD 0.0%

Value $386K (-71.4%) Shares 38,595 (-71.6%) Est. Cost $10.84 Unrealized —

BZUN BAOZUN INC 0.1%

Value $1.225M (+15.3%) Shares 432,828 (-2.6%) Est. Cost $2.39 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
EDU	NEW ORIENTAL ED & TECHNOLOGY	8,733,979 (-2.9%)	$401M (-21.3%)	16.4%	$50.94	—	SPON ADR	647581206
KSPI	KASPI KZ JSC	424,613 (-2.2%)	$36.79M (+14.3%)	1.5%	$75.12	—	SPONSORED ADS	48581R205
DDL	DINGDONG CAYMAN LTD	622,432 (-26.4%)	$1.201M (-44.7%)	0.0%	$2.57	—	ADS	25445D101
NOAH	NOAH HLDGS LTD	38,595 (-71.6%)	$386K (-71.4%)	0.0%	$10.84	—	SPON ADS	65487X102
BZUN	BAOZUN INC	432,828 (-2.6%)	$1.225M (+15.3%)	0.1%	$2.39	—	SPONSORED ADR	06684L103

Unchanged Positions (2)

RLX RLX TECHNOLOGY INC 4.7%

Value $114M Shares 59,821,839 Est. Cost $1.92 Unrealized —

ZH ZHIHU INC 0.1%

Value $1.725M Shares 551,048 Est. Cost $2.84 Unrealized —

Ticker	Issuer	Shares	Value	%	Est. Cost	Unrealized	Class	CUSIP
RLX	RLX TECHNOLOGY INC	59,821,839	$114M	4.7%	$1.92	—	SPONSORED ADS	74969N103
ZH	ZHIHU INC	551,048	$1.725M	0.1%	$2.84	—	SPONSORED ADS	98955N207