# EDGAR Filing Document

**Accession Number:** 0001762304
**File Stem:** 0000902664-23-001787
**Filing Date:** 2023-2
**Character Count:** 11195
**Document Hash:** 63ca90db47a158a5e3f1ac8059cc2021
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0000902664-23-001787.hdr.sgml**: 20230214

**ACCESSION NUMBER**: 0000902664-23-001787

**CONFORMED SUBMISSION TYPE**: 13F-HR

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20221231

**FILED AS OF DATE**: 20230214

**DATE AS OF CHANGE**: 20230214

**EFFECTIVENESS DATE**: 20230214

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** HHLR ADVISORS, LTD.
- **CENTRAL INDEX KEY:** 0001762304
- **IRS NUMBER:** 000000000
- **STATE OF INCORPORATION:** E9
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-19395
- **FILM NUMBER:** 23628494

**BUSINESS ADDRESS:**
- **STREET 1:** OFFICE #122, WINDWARD 3 BUILDING
- **STREET 2:** REGATTA OFFICE PARK, WEST BAY ROAD
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-9006
- **BUSINESS PHONE:** (345) 749-8643

**MAIL ADDRESS:**
- **STREET 1:** OFFICE #122, WINDWARD 3 BUILDING
- **STREET 2:** REGATTA OFFICE PARK, WEST BAY ROAD
- **CITY:** GRAND CAYMAN
- **STATE:** E9
- **ZIP:** KY1-9006

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** HILLHOUSE CAPITAL ADVISORS, LTD.
- **DATE OF NAME CHANGE:** 20190510

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** Hillhouse Capital Advisors, Ltd.
- **DATE OF NAME CHANGE:** 20181218

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 12-31-2022

**Check here if Amendment** [ ] **Amendment Number:** 

**This Amendment (Check only one.):** [ ] is a restatement.

[ ] adds new holdings entries.

**Institutional Investment Manager Filing this Report:**

**Name:** HHLR ADVISORS LTD.<br>**Address:** Office #122 Windward 3 Building<br>Regatta Office Park West Bay Road<br>Grand Cayman, E9 KY1-9006

**Form 13F File Number:** 028-19395

**CRD Number (if applicable):** 000166112

**SEC File Number (if applicable):** 801-77363

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.

**Person Signing this Report on Behalf of Reporting Manager:**

**Name:** Audrey Woon<br>**Title:** Chief Compliance Officer<br>**Phone:** 852-2179-1988

**Signature, Place, and Date of Signing:**

/s/ Audrey Woon  Central, K3  02-14-2023<br>[Signature]  [City, State]  [Date]

**Report Type (Check only one.):**

[x] **13F HOLDINGS REPORT.** (Check here if all holdings of this reporting manager are reported in this report.)

[ ] **13F NOTICE.** (Check here if no holdings are reported in this report, and all holdings are reported by other reporting manager(s).)

[ ] **13F COMBINATION REPORT.** (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)

### Form 13F Summary Page

**Report Summary:**

**Number of Other Included Managers:** 1

**Form 13F Information Table Entry Total:** 67

**Form 13F Information Table Value Total:** $4737201596

      (round to nearest dollar)

**List of Other Included Managers:**

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.

[If there are no entries in this list, state “NONE” and omit the column headings and list entries.]

| No.   | Name                                 | Form 13F File Number   |
|:---|:---|:---|
|  | HILLHOUSE INVESTMENT MANAGEMENT LTD. | 028-14183              |

### FORM 13F INFORMATION TABLE

---

|  |  |  |  |  |  |  |  |  |  |  |  |  |
| --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | VOTING AUTHORITY | VOTING AUTHORITY | VOTING AUTHORITY |
| NAME OF ISSUER | TITLE OF CLASS | CUSIP | FIGI | VALUE (x$1000) | SHRS OR PRN AMT | SH/PRN | PUT/CALL | INVESTMENT DISCRETION | OTHER MANAGER | SOLE | SHARED | NONE |
| AKERO THERAPEUTICS INC | COM | 00973Y108 |  | 17289510 | 315502 | SH |  | OTR | 1 | 0 | 315502 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 275087452 | 3122800 | SH |  | OTR | 1 | 0 | 3122800 | 0 |
| ALIGOS THERAPEUTICS INC | COM | 01626L105 |  | 2200974 | 2309764 | SH |  | OTR | 1 | 0 | 2309764 | 0 |
| ALLOGENE THERAPEUTICS INC | COM | 019770106 |  | 3921400 | 623434 | SH |  | OTR | 1 | 0 | 623434 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 5670000 | 67500 | SH |  | OTR | 1 | 0 | 67500 | 0 |
| ATOUR LIFESTYLE HOLDINGS LTD | SPONSORED ADS | 04965M106 |  | 9869950 | 545000 | SH |  | OTR | 1 | 0 | 545000 | 0 |
| BEIGENE LTD | SPONSORED ADR | 07725L102 |  | 1203568644 | 5472259 | SH |  | OTR | 1 | 0 | 5472259 | 0 |
| BRIDGEBIO PHARMA INC | COM | 10806X102 |  | 39526655 | 5187225 | SH |  | OTR | 1 | 0 | 5187225 | 0 |
| BRIGHT SCHOLAR ED HLDGS LTD | SPON ADS NEW | 109199208 |  | 2405528 | 996449 | SH |  | OTR | 1 | 0 | 996449 | 0 |
| CCC INTELLIGENT SOLUTIONS HL | COM | 12510Q100 |  | 1740000 | 200000 | SH |  | OTR | 1 | 0 | 200000 | 0 |
| CENTURY THERAPEUTICS INC | COM | 15673T100 |  | 2547681 | 496624 | SH |  | OTR | 1 | 0 | 496624 | 0 |
| CHINA JO-JO DRUGSTORES INC | ORD SHS | G2124G112 |  | 1431836 | 403334 | SH |  | OTR | 1 | 0 | 403334 | 0 |
| COUPANG INC | CL A | 22266T109 |  | 49660960 | 3376000 | SH |  | OTR | 1 | 0 | 3376000 | 0 |
| CYTEK BIOSCIENCES INC | COM | 23285D109 |  | 88669051 | 8684530 | SH |  | OTR | 1 | 0 | 8684530 | 0 |
| DAQO NEW ENERGY CORP | SPNSRD ADS NEW | 23703Q203 |  | 81131772 | 2101315 | SH |  | OTR | 1 | 0 | 2101315 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 16030350 | 218100 | SH |  | OTR | 1 | 0 | 218100 | 0 |
| DLOCAL LTD | CLASS A COM | G29018101 |  | 105876 | 6800 | SH |  | OTR | 1 | 0 | 6800 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 219909690 | 4504500 | SH |  | OTR | 1 | 0 | 4504500 | 0 |
| DIREXION SHS ETF TR | 20YR TRES BULL | 25459W540 |  | 9144000 | 1200000 | SH |  | OTR | 1 | 0 | 1200000 | 0 |
| DYNE THERAPEUTICS INC | COM | 26818M108 |  | 10890520 | 939648 | SH |  | OTR | 1 | 0 | 939648 | 0 |
| ENFUSION INC | CL A | 292812104 |  | 48110020 | 4975183 | SH |  | OTR | 1 | 0 | 4975183 | 0 |
| ENPHASE ENERGY INC | COM | 29355A107 |  | 5113728 | 19300 | SH |  | OTR | 1 | 0 | 19300 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 238442400 | 6274800 | SH |  | OTR | 1 | 0 | 6274800 | 0 |
| FULL TRUCK ALLIANCE CO LTD | SPONSORED ADS | 35969L108 |  | 33016800 | 4127100 | SH |  | OTR | 1 | 0 | 4127100 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 13040520 | 320800 | SH |  | OTR | 1 | 0 | 320800 | 0 |
| GOSSAMER BIO INC | COM | 38341P102 |  | 10793669 | 4974041 | SH |  | OTR | 1 | 0 | 4974041 | 0 |
| H WORLD GROUP LTD | SPONSORED ADS | 44332N106 |  | 13031424 | 307200 | SH |  | OTR | 1 | 0 | 307200 | 0 |
| I MAB | SPONSORED ADS | 44975P103 |  | 30024313 | 7182850 | SH |  | OTR | 1 | 0 | 7182850 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 38557344 | 144800 | SH |  | OTR | 1 | 0 | 144800 | 0 |
| IQIYI INC | SPONSORED ADS | 46267X108 |  | 64468140 | 12163800 | SH |  | OTR | 1 | 0 | 12163800 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 13938400 | 140000 | SH |  | OTR | 1 | 0 | 140000 | 0 |
| JD.COM INC | SPON ADR CL A | 47215P106 |  | 371760216 | 6623200 | SH |  | OTR | 1 | 0 | 6623200 | 0 |
| JINKOSOLAR HLDG CO LTD | SPONSORED ADR | 47759T100 |  | 26737523 | 654049 | SH |  | OTR | 1 | 0 | 654049 | 0 |
| KANZHUN LIMITED | SPONSORED ADS | 48553T106 |  | 30681274 | 1506199 | SH |  | OTR | 1 | 0 | 1506199 | 0 |
| KE HLDGS INC | SPONSORED ADS | 482497104 |  | 293800275 | 21045865 | SH |  | OTR | 1 | 0 | 21045865 | 0 |
| KINIKSA PHARMACEUTICALS LTD | COM CL A | G5269C101 |  | 39306382 | 2623924 | SH |  | OTR | 1 | 0 | 2623924 | 0 |
| LEGEND BIOTECH CORP | SPONSORED ADS | 52490G102 |  | 256419921 | 5136617 | SH |  | OTR | 1 | 0 | 5136617 | 0 |
| MELCO RESORTS AND ENTMNT LTD | ADR | 585464100 |  | 19537086 | 1698877 | SH |  | OTR | 1 | 0 | 1698877 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 41752662 | 174100 | SH |  | OTR | 1 | 0 | 174100 | 0 |
| MINISO GROUP HLDG LTD | SPONSORED ADS | 66981J102 |  | 2707415 | 252322 | SH |  | OTR | 1 | 0 | 252322 | 0 |
| MODERNA INC | COM | 60770K107 |  | 2694300 | 15000 | SH |  | OTR | 1 | 0 | 15000 | 0 |
| MOGU INC | SPON ADS | 608012308 |  | 2150333 | 870580 | SH |  | OTR | 1 | 0 | 870580 | 0 |
| MONDELEZ INTL INC | CL A | 609207105 |  | 71366421 | 1070764 | SH |  | OTR | 1 | 0 | 1070764 | 0 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 10872711 | 149700 | SH |  | OTR | 1 | 0 | 149700 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 93839529 | 5468504 | SH |  | OTR | 1 | 0 | 5468504 | 0 |
| PINDUODUO INC | SPONSORED ADS | 722304102 |  | 236804890 | 2903800 | SH |  | OTR | 1 | 0 | 2903800 | 0 |
| PLAYTIKA HLDG CORP | COM | 72815L107 |  | 26932448 | 3164800 | SH |  | OTR | 1 | 0 | 3164800 | 0 |
| PROSHARES TR | ULTRAPRO QQQ | 74347X831 |  | 3979000 | 230000 | SH |  | OTR | 1 | 0 | 230000 | 0 |
| PYXIS ONCOLOGY INC | COMMON STOCK | 747324101 |  | 1024304 | 764406 | SH |  | OTR | 1 | 0 | 764406 | 0 |
| ROOT INC | CL A NEW | 77664L207 |  | 624007 | 138977 | SH |  | OTR | 1 | 0 | 138977 | 0 |
| SALESFORCE INC | COM | 79466L302 |  | 229544714 | 1731237 | SH |  | OTR | 1 | 0 | 1731237 | 0 |
| SMART SH GLOBAL LTD | ADS | 83193E102 |  | 4651200 | 4080000 | SH |  | OTR | 1 | 0 | 4080000 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 9043020 | 63000 | SH |  | OTR | 1 | 0 | 63000 | 0 |
| SOHU COM LTD | SPONSORED ADS | 83410S108 |  | 10995886 | 802034 | SH |  | OTR | 1 | 0 | 802034 | 0 |
| SUNRUN INC | COM | 86771W105 |  | 8282096 | 344800 | SH |  | OTR | 1 | 0 | 344800 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 4469400 | 60000 | SH |  | OTR | 1 | 0 | 60000 | 0 |
| TRIP COM GROUP LTD | ADS | 89677Q107 |  | 6192000 | 180000 | SH |  | OTR | 1 | 0 | 180000 | 0 |
| TUYA INC | SPONSERED ADS | 90114C107 |  | 3226676 | 1689359 | SH |  | OTR | 1 | 0 | 1689359 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 34711028 | 1403600 | SH |  | OTR | 1 | 0 | 1403600 | 0 |
| UIPATH INC | CL A | 90364P105 |  | 1845492 | 145200 | SH |  | OTR | 1 | 0 | 145200 | 0 |
| UXIN LTD | SPON ADS NEW | 91818X207 |  | 551701 | 191563 | SH |  | OTR | 1 | 0 | 191563 | 0 |
| VIPSHOP HOLDINGS LIMITED | SPONSORED ADS A | 92763W103 |  | 259011324 | 18989100 | SH |  | OTR | 1 | 0 | 18989100 | 0 |
| YATSEN HLDG LTD | ADS | 985194109 |  | 51011232 | 34939200 | SH |  | OTR | 1 | 0 | 34939200 | 0 |
| JOYY INC | ADS REPSTG COM A | 46591M109 |  | 3159000 | 100000 | SH |  | OTR | 1 | 0 | 100000 | 0 |
| ZOOM VIDEO COMMUNICATIONS IN | CL A | 98980L101 |  | 27475344 | 405600 | SH |  | OTR | 1 | 0 | 405600 | 0 |
| SURROZEN INC | COM | 86889P109 |  | 675819 | 1161400 | SH |  | OTR | 1 | 0 | 1161400 | 0 |
| SURROZEN INC | *W EXP 08/01/203 | 86889P117 |  | 26360 | 399999 | SH |  | OTR | 1 | 0 | 399999 | 0 |

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