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Portfolio (Quarterly) Guide ↗

First Beijing Investment Ltd

· CIK 0001701717
13F Portfolio $2.3B AUM 12 positions Filed May 13, 2026 EDGAR ↗ ← All Funds
Q1 2026 Q4 2025 · All 5 New 3 Added 4 Reduced 1 Exited
# Ticker Company Sector Shares Value ↓ % Port Chg Shares Chg % Period Price ① Since Period ①
1 PDD PDD HOLDINGS INC Consumer Cyclical 8,149,162.0 $832.7M 35.91% +1.4M +20.1% $102.18 -4.3%
2 YMM FULL TRUCK ALLIANCE CO LTD Technology 90,000,895.0 $747.0M 32.22% +13.4M +17.5% $8.30 +1.9%
3 EDU NEW ORIENTAL ED & TECHNOLOGY Consumer Defensive 8,995,258.0 $509.4M 21.97% -1.1M -11.0% $56.63 -16.0%
4 RLX RLX TECHNOLOGY INC Consumer Defensive 60,129,671.0 $132.3M 5.71% -2.7M -4.3% $2.20 -4.5%
5 LEGN LEGEND BIOTECH CORP Healthcare 2,296,335.0 $41.5M 1.79% NEW $18.09 +54.7%
6 KASPI KZ JSC 434,350.0 $32.2M 1.39% +322K +286.5% $74.07
7 SE SEA LTD Consumer Cyclical 208,963.0 $17.3M 0.75% NEW $82.81 +5.4%
8 DDL DINGDONG CAYMAN LTD Consumer Defensive 845,952.0 $2.2M 0.09% NEW $2.57 +0.4%
9 ZH ZHIHU INC Communication Services 551,048.0 $1.6M 0.07% NEW $2.84 +9.5%
10 NOAH NOAH HLDGS LTD Financial Services 135,988.0 $1.3M 0.06% -257K -65.4% $9.90 +5.9%
11 BZUN BAOZUN INC Consumer Cyclical 444,328.0 $1.1M 0.05% NEW $2.39 +7.5%
12 API AGORA INC Technology 7,700.0 $27K 0.00% -2K -22.2% $3.54 +6.5%

Period Price is the implied market price on the last day of the reporting period, calculated as reported value ÷ shares held. It is not the fund's purchase price or cost basis — the fund may have initiated or added to the position at any point during the quarter at a different price. Since Period shows the price change from that quarter-end snapshot to today's last price — it reflects stock movement after the report date, not the fund's actual return.

Sector Allocation
Consumer Cyclical 37.2%
Technology 32.7%
Consumer Defensive 28.2%
Healthcare 1.8%
Financial Services 0.1%
Communication Services 0.1%