Greenwoods Asset Management Hong Kong Ltd. Diversified Active

Period: Q4 2025 (← Previous)

Filing Date: Feb 6, 2026

Total Value ($000): $4,044,710 (100.0% shares, 0.0% debt)

Holdings (28)

New Positions (1)

Value ($000) $85,071 Shares 245,800 Est. Cost $357.00 Unrealized 0.0%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
AVGO	BROADCOM INC	245,800	$85,071	2.1%	$357.00	0.0%	COM	11135F101

Increased Positions (5)

GOOGL ALPHABET INC 20.8%

Value ($000) $841,970 (+96.8%) Shares 2,690,000 (+52.8%) Est. Cost $232.62 Unrealized +22.8%

INTC INTEL CORP 2.4%

Value ($000) $95,586 (+50.3%) Shares 2,590,400 (+36.6%) Est. Cost $26.14 Unrealized +44.5%

HTHT H WORLD GROUP LTD 1.0%

Value ($000) $39,655 (+181.6%) Shares 842,822 (+134.1%) Est. Cost $42.57 Unrealized —

FUTU FUTU HLDGS LTD 4.6%

Value ($000) $186,513 (+7.6%) Shares 1,135,821 (+14.0%) Est. Cost $76.30 Unrealized —

PDD PDD HOLDINGS INC 11.1%

Value ($000) $449,962 (+1.4%) Shares 3,968,270 (+18.2%) Est. Cost $103.40 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
GOOGL	ALPHABET INC	2,690,000 (+52.8%)	$841,970 (+96.8%)	20.8%	$232.62	+22.8%	CAP STK CL A	02079K305
INTC	INTEL CORP	2,590,400 (+36.6%)	$95,586 (+50.3%)	2.4%	$26.14	+44.5%	COM	458140100
HTHT	H WORLD GROUP LTD	842,822 (+134.1%)	$39,655 (+181.6%)	1.0%	$42.57	—	SPONSORED ADS	44332N106
FUTU	FUTU HLDGS LTD	1,135,821 (+14.0%)	$186,513 (+7.6%)	4.6%	$76.30	—	SPON ADS CL A	36118L106
PDD	PDD HOLDINGS INC	3,968,270 (+18.2%)	$449,962 (+1.4%)	11.1%	$103.40	—	SPONSORED ADS	722304102

Exited Positions (3)

UBER UBER TECHNOLOGIES INC 0.6%

Value ($000) $23,970 Shares 244,670 Est. Cost $93.52 Unrealized -3.7%

SPOT SPOTIFY TECHNOLOGY S A 0.2%

Value ($000) $9,232 Shares 13,226 Est. Cost $699.24 Unrealized -10.6%

GOOG ALPHABET INC 0.0%

Value ($000) $876 Shares 3,596 Est. Cost $209.93 Unrealized +36.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
UBER	UBER TECHNOLOGIES INC	244,670	$23,970	0.6%	$93.52	-3.7%	—	90353T100
SPOT	SPOTIFY TECHNOLOGY S A	13,226	$9,232	0.2%	$699.24	-10.6%	—	L8681T102
GOOG	ALPHABET INC	3,596	$876	0.0%	$209.93	+36.4%	—	02079K107

Decreased Positions (10)

NVDA NVIDIA CORPORATION 3.9%

Value ($000) $156,270 (-64.8%) Shares 837,907 (-64.8%) Est. Cost $161.45 Unrealized +15.3%

META META PLATFORMS INC 16.3%

Value ($000) $658,049 (-26.9%) Shares 996,908 (-18.7%) Est. Cost $359.85 Unrealized +85.4%

NBIS NEBIUS GROUP N.V. 1.3%

Value ($000) $53,412 (-62.7%) Shares 638,103 (-50.0%) Est. Cost $24.38 Unrealized +325.1%

XBI SPDR SERIES TRUST 0.2%

Value ($000) $8,324 (-85.0%) Shares 68,265 (-87.7%) Est. Cost $100.20 Unrealized —

BEKE KE HLDGS INC 0.7%

Value ($000) $28,261 (-59.5%) Shares 1,793,195 (-51.2%) Est. Cost $19.56 Unrealized —

SE SEA LTD 1.0%

Value ($000) $41,351 (-43.7%) Shares 324,147 (-21.2%) Est. Cost $157.57 Unrealized —

UNH UNITEDHEALTH GROUP INC 1.1%

Value ($000) $43,017 (-25.6%) Shares 130,310 (-22.2%) Est. Cost $298.94 Unrealized +12.8%

TSM TAIWAN SEMICONDUCTOR MFG LTD 0.7%

Value ($000) $27,297 (-25.5%) Shares 89,826 (-31.6%) Est. Cost $154.33 Unrealized —

WRD WERIDE INC 0.5%

Value ($000) $19,112 (-28.1%) Shares 2,201,800 (-18.0%) Est. Cost $9.90 Unrealized —

SNPS SYNOPSYS INC 1.9%

Value ($000) $76,875 (-5.8%) Shares 163,661 (-1.1%) Est. Cost $565.30 Unrealized -21.4%

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
NVDA	NVIDIA CORPORATION	837,907 (-64.8%)	$156,270 (-64.8%)	3.9%	$161.45	+15.3%	COM	67066G104
META	META PLATFORMS INC	996,908 (-18.7%)	$658,049 (-26.9%)	16.3%	$359.85	+85.4%	CL A	30303M102
NBIS	NEBIUS GROUP N.V.	638,103 (-50.0%)	$53,412 (-62.7%)	1.3%	$24.38	+325.1%	SHS CLASS A	N97284108
XBI	SPDR SERIES TRUST	68,265 (-87.7%)	$8,324 (-85.0%)	0.2%	$100.20	—	STATE STREET SPD	78464A870
BEKE	KE HLDGS INC	1,793,195 (-51.2%)	$28,261 (-59.5%)	0.7%	$19.56	—	SPONSORED ADS	482497104
SE	SEA LTD	324,147 (-21.2%)	$41,351 (-43.7%)	1.0%	$157.57	—	SPONSORD ADS	81141R100
UNH	UNITEDHEALTH GROUP INC	130,310 (-22.2%)	$43,017 (-25.6%)	1.1%	$298.94	+12.8%	COM	91324P102
TSM	TAIWAN SEMICONDUCTOR MFG LTD	89,826 (-31.6%)	$27,297 (-25.5%)	0.7%	$154.33	—	SPONSORD ADS	874039100
WRD	WERIDE INC	2,201,800 (-18.0%)	$19,112 (-28.1%)	0.5%	$9.90	—	SPONSORED ADS	950915108
SNPS	SYNOPSYS INC	163,661 (-1.1%)	$76,875 (-5.8%)	1.9%	$565.30	-21.4%	COM	871607107

Unchanged Positions (12)

YMM FULL TRUCK ALLIANCE CO LTD 7.6%

Value ($000) $306,855 Shares 28,597,879 Est. Cost $8.44 Unrealized —

NTES NETEASE INC 10.9%

Value ($000) $442,063 Shares 3,212,200 Est. Cost $94.64 Unrealized —

QFIN QFIN HOLDINGS INC 1.6%

Value ($000) $63,503 Shares 3,295,438 Est. Cost $27.67 Unrealized —

BABA ALIBABA GROUP HLDG LTD 3.1%

Value ($000) $123,627 Shares 843,409 Est. Cost $153.09 Unrealized —

ATAT ATOUR LIFESTYLE HLDGS LTD 2.2%

Value ($000) $90,231 Shares 2,290,136 Est. Cost $37.12 Unrealized —

AAPL APPLE INC 1.4%

Value ($000) $57,934 Shares 213,104 Est. Cost $225.58 Unrealized +19.0%

MMYT MAKEMYTRIP LIMITED MAURITIUS 0.5%

Value ($000) $21,097 Shares 256,900 Est. Cost $97.21 Unrealized -15.6%

EDU NEW ORIENTAL ED & TECHNOLOGY 1.8%

Value ($000) $73,092 Shares 1,328,218 Est. Cost $45.22 Unrealized —

JKS JINKOSOLAR HLDG CO LTD 0.5%

Value ($000) $20,156 Shares 780,933 Est. Cost $37.43 Unrealized —

TAL TAL EDUCATION GROUP 0.7%

Value ($000) $28,335 Shares 2,597,180 Est. Cost $9.64 Unrealized —

HDL SUPER HI INTL HLDG LTD 0.1%

Value ($000) $4,310 Shares 268,341 Est. Cost $18.00 Unrealized —

RERE ATRENEW INC 0.1%

Value ($000) $2,783 Shares 525,000 Est. Cost $14.95 Unrealized —

Ticker	Issuer	Shares	Value ($000)	%	Est. Cost	Unrealized	Class	CUSIP
YMM	FULL TRUCK ALLIANCE CO LTD	28,597,879	$306,855	7.6%	$8.44	—	SPONSORED ADS	35969L108
NTES	NETEASE INC	3,212,200	$442,063	10.9%	$94.64	—	SPONSORED ADS	64110W102
QFIN	QFIN HOLDINGS INC	3,295,438	$63,503	1.6%	$27.67	—	AMERICAN DEP	88557W101
BABA	ALIBABA GROUP HLDG LTD	843,409	$123,627	3.1%	$153.09	—	SPONSORED ADS	01609W102
ATAT	ATOUR LIFESTYLE HLDGS LTD	2,290,136	$90,231	2.2%	$37.12	—	SPONSORED ADS	04965M106
AAPL	APPLE INC	213,104	$57,934	1.4%	$225.58	+19.0%	COM	037833100
MMYT	MAKEMYTRIP LIMITED MAURITIUS	256,900	$21,097	0.5%	$97.21	-15.6%	SHS	V5633W109
EDU	NEW ORIENTAL ED & TECHNOLOGY	1,328,218	$73,092	1.8%	$45.22	—	SPON ADR	647581206
JKS	JINKOSOLAR HLDG CO LTD	780,933	$20,156	0.5%	$37.43	—	SPONSORED ADR	47759T100
TAL	TAL EDUCATION GROUP	2,597,180	$28,335	0.7%	$9.64	—	SPONSORED ADS	874080104
HDL	SUPER HI INTL HLDG LTD	268,341	$4,310	0.1%	$18.00	—	SPONSORED ADS	86803S106
RERE	ATRENEW INC	525,000	$2,783	0.1%	$14.95	—	SPONSORED ADS	00138L108