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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 $2,589,934,560 across 8 holdings for the quarter ended 2025-09-30, in a 13F-HR filed 2025-11-14.

Filed (acceptance time not in the bulk data set), ingested 13F-HR 0001701717-25-000020

Period
2025-09-30
Reported value
$2.59B
Holdings
8
Top 10 weight
100%
New
0
Sold out
1

Largest buys vs the previous quarter

SecurityShares changeApprox. value
YMMadded+29,150,926$378M
EDUadded+2,231,169$118M
PDDadded+590,869$78.1M

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
LUexited-6,464,988-$18M
ATATreduced-181,140-$6.81M

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, Q3 2025

Share positions as resolved from 13F-HR 0001701717-25-000020, largest first. % of portfolio is the value over $2,589,934,560, the sum of the share positions whose value is usable for ratios (method).

SecurityHistorySharesValue% of portfolioChangeLatest eventTimeline
YMMFULL TRUCK ALLIANCE CO LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 68,645,580 shares 68,645,580$890M34.38%+29,150,926Timeline
PDDPDD HOLDINGS INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 6,168,721 shares 6,168,721$815M31.48%+590,869Timeline
EDUNEW ORIENTAL ED & TECHNOLOGYQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: 260,097 shares; 2025Q1: 5,456,378 shares; 2025Q2: 7,115,332 shares; 2025Q3: 9,346,501 shares 9,346,501$496M19.15%+2,231,169Timeline
ATATATOUR LIFESTYLE HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 5,668,822 shares 5,668,822$213M8.23%-181,140Timeline
RLXRLX TECHNOLOGY INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 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; 2025Q3: 62,864,424 shares 62,864,424$165M6.38%0Timeline
AXTIAXT INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 1,730,156 shares; 2025Q3: 1,730,156 shares 1,730,156$7.77M0.3%0Timeline
NOAHNOAH HLDGS LTDQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: 124,149 shares; 2024Q4: 136,733 shares; 2025Q1: 163,443 shares; 2025Q2: 175,328 shares; 2025Q3: 175,328 shares 175,328$2.03M0.08%0Timeline
APIAGORA INCQuarterly shares; oldest to newest; scale is this security's eight-quarter maximum; 2023Q4: restricted; 2024Q1: restricted; 2024Q2: restricted; 2024Q3: not reported; 2024Q4: not reported; 2025Q1: not reported; 2025Q2: 9,900 shares; 2025Q3: 9,900 shares 9,900$37.8K<0.01%0Timeline

Sold out in Q3 2025

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

SecurityShares beforeValue beforeType
LULUFAX HOLDING LTD6,464,988$18Mshares

How Q3 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 0001701717-25-000020 base2025-11-14acceptance time not in the bulk data set