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
OMB APPROVAL
OMB Number: 3235-0006
Expires: July 31, 2015
Estimated average burden
hours per response: 23.8
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 (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
ADAGENE INC ADS 005329107 5,642,129 1,343,364 SH DFND 1,5 1,343,364 0 0
ARRIVENT BIOPHARMA INC COM 04272N102 23,043,320 663,308 SH DFND 1 663,308 0 0
BITDEER TECHNOLOGIES GROUP CL A ORD SHS G11448100 2,192,726 138,168 SH DFND 1,2 138,168 0 0
BITDEER TECHNOLOGIES GROUP CL A ORD SHS G11448100 2,468,801 155,564 SH DFND 1,5 155,564 0 0
SOLAI LIMITED SPON ADR 055474209 1,124,871 350,427 SH DFND 1 350,427 0 0
BURNING ROCK BIOTECH LTD SPONSORED ADS 12233L206 177,544 21,212 SH DFND 1,5 21,212 0 0
51TALK ONLINE EDUCATION GROU SPONSORED ADR 16954L204 7,574,671 474,901 SH DFND 1 474,901 0 0
DINGDONG CAYMAN LTD ADS 25445D101 19,477,249 10,091,839 SH DFND 1,2 10,091,839 0 0
FUTU HLDGS LTD SPON ADS CL A 36118L106 58,720,611 626,420 SH DFND 1,6 626,420 0 0
FUTU HLDGS LTD SPON ADS CL A 36118L106 10,679,986 113,932 SH DFND 1,5 113,932 0 0
KANZHUN LIMITED SPONSORED ADS 48553T106 24,453,000 1,900,000 SH DFND 1 1,900,000 0 0
KE HLDGS INC SPONSORED ADS 482497104 10,737,917 739,017 SH DFND 1,2 739,017 0 0
KE HLDGS INC SPONSORED ADS 482497104 17,436,000 1,200,000 SH DFND 1 1,200,000 0 0
LYELL IMMUNOPHARMA INC COM NEW 55083R203 2,139,801 152,299 SH DFND 1,2 152,299 0 0
PDD HOLDINGS INC SPONSORED ADS 722304102 74,343,175 974,609 SH DFND 1,2 974,609 0 0
PDD HOLDINGS INC SPONSORED ADS 722304102 791,314,761 10,373,817 SH DFND 1,4 10,373,817 0 0
STRUCTURE THERAPEUTICS INC SPONSORED ADS 86366E106 13,672,433 254,750 SH DFND 1 254,750 0 0
STRUCTURE THERAPEUTICS INC SPONSORED ADS 86366E106 607,115 11,312 SH DFND 1 11,312 0 0
GYRE THERAPEUTICS INC COM 403783103 24,714,470 3,750,299 SH DFND 1 3,750,299 0 0
TH INTERNATIONAL LIMITED SHS NEW G8656L130 5,540,157 2,900,606 SH DFND 1,3 2,900,606 0 0
BARINTHUS BIOTHERAPEUTICS PL ADS 91864C107 937,512 1,420,473 SH DFND 1,5 1,420,473 0 0
LOTUS TECHNOLOGY INC SPONSORED ADR 54572F101 5,655,896 4,834,099 SH DFND 1,2 4,834,099 0 0
PONY AI INC SPONSORED ADS 732908108 8,318,879 1,196,961 SH DFND 1 1,196,961 0 0
PONY AI INC SPONSORED ADS 732908108 44,072,709 6,341,397 SH DFND 1,5 6,341,397 0 0
YIMUTIAN INC SPONSORED ADS 985915206 121,619 229,470 SH DFND 1,6 229,470 0 0
CIRCLE INTERNET GROUP INC COM CL A 172573107 41,911,996 669,200 SH DFND 1,3 669,200 0 0