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First Beijing Investment Ltd

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13F filer, CIK 1701717, HONG KONG, Hong Kong

First Beijing Investment Ltd reported $1,786,979,135 across 9 holdings for the quarter ended 2025-06-30, in a 13F-HR filed 2025-08-15.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001701717-25-000014

Period
2025-06-30
Reported value
$1.79B
Holdings
9
Top 10 weight
100%
New
2
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
PDDadded+1,720,629$180M
YMMadded+9,757,852$115M
EDUadded+1,658,954$89.5M
RLXadded+21,828,379$48.2M
ATATadded+813,607$26.5M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Largest sells vs the previous quarter

SecurityShares changeApprox. value
SEexited-957,702-$125M

Ranked by the share change valued at this quarter's implied price (value over shares in the 13F). A position sold out is valued at the previous quarter's price, its last report.

Holdings, Q2 2025

Share positions as resolved from 13F-HR 0001701717-25-000014, largest first. % of portfolio is the value over $1,786,979,135, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 3,554,719 shares; 2024Q4: 3,765,809 shares; 2025Q1: 3,857,223 shares; 2025Q2: 5,577,852 shares 5,577,852$584M32.67%+1,720,629Timeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 13,740,729 shares; 2024Q4: 31,241,548 shares; 2025Q1: 29,736,802 shares; 2025Q2: 39,494,654 shares 39,494,654$466M26.1%+9,757,852Timeline
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 260,097 shares; 2025Q1: 5,456,378 shares; 2025Q2: 7,115,332 shares 7,115,332$384M21.48%+1,658,954Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 5,639,562 shares; 2024Q4: 5,431,906 shares; 2025Q1: 5,036,355 shares; 2025Q2: 5,849,962 shares 5,849,962$190M10.64%+813,607Timeline
RLXRLX TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 28,440,248 shares; 2024Q4: 23,374,885 shares; 2025Q1: 41,036,045 shares; 2025Q2: 62,864,424 shares 62,864,424$139M7.77%+21,828,379Timeline
LULUFAX HOLDING LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: 4,392,625 shares; 2025Q2: 6,464,988 shares 6,464,988$18M1.01%+2,072,363Timeline
AXTIAXT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,730,156 shares 1,730,156$3.62M0.2%newTimeline
NOAHNOAH HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 124,149 shares; 2024Q4: 136,733 shares; 2025Q1: 163,443 shares; 2025Q2: 175,328 shares 175,328$2.09M0.12%+11,885Timeline
APIAGORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q3: restricted; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 9,900 shares 9,900$37.7K<0.01%newTimeline

Sold out in Q2 2025

Positions in the previous quarter's report that this quarter's report no longer lists.

SecurityShares beforeValue beforeType
SESEA LTD957,702$125Mshares

How Q2 2025 was built

Available 13F filings of this filer for the quarter and their roles: the base report is the latest original or restatement, NEW HOLDINGS amendments filed after it are added (method).

FilingRoleAmendmentFiledAcceptedIngested
13F-HR 0001701717-25-000014 base2025-08-15acceptance time not in the bulk data set