# EDGAR Filing Document

**Accession Number:** 0001970465
**File Stem:** 0001970465-25-000008
**Filing Date:** 2025-8
**Character Count:** 18560
**Document Hash:** 6d7e6c71cad8ab5693f7c35ab0b0ca38
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001970465-25-000008.hdr.sgml**: 20250814

**ACCESSION NUMBER**: 0001970465-25-000008

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

**PUBLIC DOCUMENT COUNT**: 2

**CONFORMED PERIOD OF REPORT**: 20250630

**FILED AS OF DATE**: 20250814

**DATE AS OF CHANGE**: 20250814

**EFFECTIVENESS DATE**: 20250814

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** Polymer Capital Management (HK) LTD
- **CENTRAL INDEX KEY:** 0001970465

**ORGANIZATION NAME:**
- **EIN:** 000000000
- **STATE OF INCORPORATION:** K3
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 13F-HR
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 028-23815
- **FILM NUMBER:** 251214896

**BUSINESS ADDRESS:**
- **STREET 1:** NO. 2401-06, 24/F, THREE PACIFIC PLACE,
- **STREET 2:** 1 QUEEN'S ROAD EAST
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** HKG
- **BUSINESS PHONE:** 852 3719 6333

**MAIL ADDRESS:**
- **STREET 1:** NO. 2401-06, 24/F, THREE PACIFIC PLACE,
- **STREET 2:** 1 QUEEN'S ROAD EAST
- **CITY:** HONG KONG
- **STATE:** K3
- **ZIP:** HKG

### FORM 13F COVER PAGE

**Report for the Calendar Year or Quarter Ended:** 06-30-2025

**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:** Polymer Capital Management (HK) LTD<br>**Address:** NO. 2401-06 24/F THREE PACIFIC PLACE<br>1 QUEEN'S ROAD EAST<br>HONG KONG, K3 HKG

**Form 13F File Number:** 028-23815

**CRD Number (if applicable):** 000308190

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:** Angus Yuk Chi Wai<br>**Title:** Director<br>**Phone:** 852-3719-6333

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

Angus Yuk Chi Wai  Hong Kong, K3  08-14-2025<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:** 0

**Form 13F Information Table Entry Total:** 150

**Form 13F Information Table Value Total:** $661098942

      (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.]

**NONE**

### 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 |
| ADVANCED MICRO DEVICES INC | COM | 007903107 |  | 28620662 | 201696 | SH |  | SOLE |  | 201696 | 0 | 0 |
| AFFIRM HLDGS INC | COM CL A | 00827B106 |  | 882226 | 12760 | SH |  | SOLE |  | 12760 | 0 | 0 |
| ALIBABA GROUP HLDG LTD | SPONSORED ADS | 01609W102 |  | 1248304 | 11007 | SH |  | SOLE |  | 11007 | 0 | 0 |
| ALNYLAM PHARMACEUTICALS INC | COM | 02043Q107 |  | 9413892 | 28869 | SH |  | SOLE |  | 28869 | 0 | 0 |
| ALPHABET INC | CAP STK CL A | 02079K305 |  | 898773 | 5100 | SH |  | SOLE |  | 5100 | 0 | 0 |
| ALPHABET INC | CAP STK CL C | 02079K107 |  | 3292713 | 18562 | SH |  | SOLE |  | 18562 | 0 | 0 |
| AMAZON COM INC | COM | 023135106 |  | 557031 | 2539 | SH |  | SOLE |  | 2539 | 0 | 0 |
| AMER SPORTS INC | COM SHS | G0260P102 |  | 36214398 | 934324 | SH |  | SOLE |  | 934324 | 0 | 0 |
| APOGEE THERAPEUTICS INC | COM | 03770N101 |  | 1271109 | 29268 | SH |  | SOLE |  | 29268 | 0 | 0 |
| APPLE INC | COM | 037833100 |  | 553959 | 2700 | SH |  | SOLE |  | 2700 | 0 | 0 |
| ARISTA NETWORKS INC | COM SHS | 040413205 |  | 2353130 | 23000 | SH |  | SOLE |  | 23000 | 0 | 0 |
| ASTERA LABS INC | COM | 04626A103 |  | 351553 | 3888 | SH |  | SOLE |  | 3888 | 0 | 0 |
| ATOUR LIFESTYLE HLDGS LTD | SPONSORED ADS | 04965M106 |  | 2539161 | 78104 | SH |  | SOLE |  | 78104 | 0 | 0 |
| BEONE MEDICINES LTD | SPONSORED ADS | 07725L102 |  | 459933 | 1900 | SH |  | SOLE |  | 1900 | 0 | 0 |
| BILIBILI INC | SPONS ADS REP Z | 090040106 |  | 18083573 | 843057 | SH |  | SOLE |  | 843057 | 0 | 0 |
| BIRKENSTOCK HOLDING PLC | COM SHS | M2029K104 |  | 2715375 | 55213 | SH |  | SOLE |  | 55213 | 0 | 0 |
| BLOCK INC | CL A | 852234103 |  | 217376 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| BOEING CO | COM | 097023105 |  | 730212 | 3485 | SH |  | SOLE |  | 3485 | 0 | 0 |
| BROADCOM INC | COM | 11135F101 |  | 11202416 | 40640 | SH |  | SOLE |  | 40640 | 0 | 0 |
| CAMECO CORP | COM | 13321L108 |  | 875914 | 11800 | SH |  | SOLE |  | 11800 | 0 | 0 |
| CARNIVAL CORP | UNIT 99/99/9999 | 143658300 |  | 2812000 | 100000 | SH |  | SOLE |  | 100000 | 0 | 0 |
| CARVANA CO | CL A | 146869102 |  | 218350 | 648 | SH |  | SOLE |  | 648 | 0 | 0 |
| CASEYS GEN STORES INC | COM | 147528103 |  | 740402 | 1451 | SH |  | SOLE |  | 1451 | 0 | 0 |
| CELESTICA INC | COM | 15101Q207 |  | 7344976 | 47050 | SH |  | SOLE |  | 47050 | 0 | 0 |
| CENTRUS ENERGY CORP | CL A | 15643U104 |  | 274770 | 1500 | SH |  | SOLE |  | 1500 | 0 | 0 |
| CHEWY INC | CL A | 16679L109 |  | 528786 | 12407 | SH |  | SOLE |  | 12407 | 0 | 0 |
| CIRCLE INTERNET GROUP INC | COM CL A | 172573107 |  | 5178549 | 28565 | SH |  | SOLE |  | 28565 | 0 | 0 |
| CLOUDFLARE INC | CL A COM | 18915M107 |  | 225205 | 1150 | SH |  | SOLE |  | 1150 | 0 | 0 |
| COMFORT SYS USA INC | COM | 199908104 |  | 543717 | 1014 | SH |  | SOLE |  | 1014 | 0 | 0 |
| COREWEAVE INC | COM CL A | 21873S108 |  | 717464 | 4400 | SH |  | SOLE |  | 4400 | 0 | 0 |
| CREDO TECHNOLOGY GROUP HOLDI | ORDINARY SHARES | G25457105 |  | 5438459 | 58737 | SH |  | SOLE |  | 58737 | 0 | 0 |
| CURTISS WRIGHT CORP | COM | 231561101 |  | 756275 | 1548 | SH |  | SOLE |  | 1548 | 0 | 0 |
| DATADOG INC | CL A COM | 23804L103 |  | 443558 | 3302 | SH |  | SOLE |  | 3302 | 0 | 0 |
| DECKERS OUTDOOR CORP | COM | 243537107 |  | 2048207 | 19872 | SH |  | SOLE |  | 19872 | 0 | 0 |
| DELTA AIR LINES INC DEL | COM NEW | 247361702 |  | 368407 | 7491 | SH |  | SOLE |  | 7491 | 0 | 0 |
| DICKS SPORTING GOODS INC | COM | 253393102 |  | 1622042 | 8200 | SH |  | SOLE |  | 8200 | 0 | 0 |
| DOORDASH INC | CL A | 25809K105 |  | 295812 | 1200 | SH |  | SOLE |  | 1200 | 0 | 0 |
| DUOLINGO INC | CL A COM | 26603R106 |  | 287014 | 700 | SH |  | SOLE |  | 700 | 0 | 0 |
| ELI LILLY  CO | COM | 532457108 |  | 14572534 | 18694 | SH |  | SOLE |  | 18694 | 0 | 0 |
| ENERGY FUELS INC | COM NEW | 292671708 |  | 747259 | 129958 | SH |  | SOLE |  | 129958 | 0 | 0 |
| EXPEDIA GROUP INC | COM NEW | 30212P303 |  | 337360 | 2000 | SH |  | SOLE |  | 2000 | 0 | 0 |
| FLEX LTD | ORD | Y2573F102 |  | 492461 | 9865 | SH |  | SOLE |  | 9865 | 0 | 0 |
| FLUTTER ENTMT PLC | SHS | G3643J108 |  | 394349 | 1380 | SH |  | SOLE |  | 1380 | 0 | 0 |
| FREEPORT-MCMORAN INC | CL B | 35671D857 |  | 429295 | 9903 | SH |  | SOLE |  | 9903 | 0 | 0 |
| FULL TRUCK ALLIANCE CO LTD | SPONSORED ADS | 35969L108 |  | 2814606 | 238324 | SH |  | SOLE |  | 238324 | 0 | 0 |
| FUTU HLDGS LTD | SPON ADS CL A | 36118L106 |  | 14105080 | 114128 | SH |  | SOLE |  | 114128 | 0 | 0 |
| GDS HLDGS LTD | SPONSORED ADS | 36165L108 |  | 4510665 | 147552 | SH |  | SOLE |  | 147552 | 0 | 0 |
| GE VERNOVA INC | COM | 36828A101 |  | 7490118 | 14155 | SH |  | SOLE |  | 14155 | 0 | 0 |
| GENERAL MLS INC | COM | 370334104 |  | 295680 | 5707 | SH |  | SOLE |  | 5707 | 0 | 0 |
| GENERAL MTRS CO | COM | 37045V100 |  | 258697 | 5257 | SH |  | SOLE |  | 5257 | 0 | 0 |
| GILDAN ACTIVEWEAR INC | COM | 375916103 |  | 7152258 | 145253 | SH |  | SOLE |  | 145253 | 0 | 0 |
| GLOBAL X FDS | GLOBAL X COPPER | 37954Y830 |  | 2803500 | 62300 | SH |  | SOLE |  | 62300 | 0 | 0 |
| GRAB HOLDINGS LIMITED | CLASS A ORD | G4124C109 |  | 4485623 | 891774 | SH |  | SOLE |  | 891774 | 0 | 0 |
| GUIDEWIRE SOFTWARE INC | COM | 40171V100 |  | 615702 | 2615 | SH |  | SOLE |  | 2615 | 0 | 0 |
| H WORLD GROUP LTD | SPONSORED ADS | 44332N106 |  | 5381713 | 158659 | SH |  | SOLE |  | 158659 | 0 | 0 |
| HELLO GROUP INC | ADS | 423403104 |  | 631422 | 74813 | SH |  | SOLE |  | 74813 | 0 | 0 |
| HILTON WORLDWIDE HLDGS INC | COM | 43300A203 |  | 2663400 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| HOWMET AEROSPACE INC | COM | 443201108 |  | 5356263 | 28777 | SH |  | SOLE |  | 28777 | 0 | 0 |
| INSMED INC | COM PAR $.01 | 457669307 |  | 592971 | 5892 | SH |  | SOLE |  | 5892 | 0 | 0 |
| INTEL CORP | COM | 458140100 |  | 9846995 | 439598 | SH |  | SOLE |  | 439598 | 0 | 0 |
| INTERACTIVE BROKERS GROUP IN | COM CL A | 45841N107 |  | 2859156 | 51600 | SH |  | SOLE |  | 51600 | 0 | 0 |
| INVESCO QQQ TR | UNIT SER 1 | 46090E103 |  | 4946556 | 8967 | SH |  | SOLE |  | 8967 | 0 | 0 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 |  | 1092750 | 75000 | SH | Call | SOLE |  | 75000 | 0 | 0 |
| IREN LIMITED | ORDINARY SHARES | Q4982L109 |  | 4341860 | 298000 | SH |  | SOLE |  | 298000 | 0 | 0 |
| ISHARES TR | 20 YR TR BD ETF | 464287432 |  | 908446 | 10294 | SH |  | SOLE |  | 10294 | 0 | 0 |
| ISHARES TR | CORE S ETF | 464287200 |  | 2731960 | 4400 | SH |  | SOLE |  | 4400 | 0 | 0 |
| ISHARES TR | ISHARES SEMICDTR | 464287523 |  | 4215442 | 17660 | SH |  | SOLE |  | 17660 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 1001266 | 4640 | SH |  | SOLE |  | 4640 | 0 | 0 |
| ISHARES TR | RUSSELL 2000 ETF | 464287655 |  | 21579000 | 100000 | SH | Put | SOLE |  | 100000 | 0 | 0 |
| JD.COM INC | SPON ADS CL A | 47215P106 |  | 326400 | 10000 | SH |  | SOLE |  | 10000 | 0 | 0 |
| JOYY INC | ADS REPSTG COM A | 46591M109 |  | 1432607 | 28140 | SH |  | SOLE |  | 28140 | 0 | 0 |
| KANZHUN LIMITED | SPONSORED ADS | 48553T106 |  | 3204064 | 179600 | SH |  | SOLE |  | 179600 | 0 | 0 |
| KE HLDGS INC | SPONSORED ADS | 482497104 |  | 11756298 | 662700 | SH |  | SOLE |  | 662700 | 0 | 0 |
| KRAFT HEINZ CO | COM | 500754106 |  | 259930 | 10067 | SH |  | SOLE |  | 10067 | 0 | 0 |
| LEGEND BIOTECH CORP | SPONSORED ADS | 52490G102 |  | 5751332 | 162055 | SH |  | SOLE |  | 162055 | 0 | 0 |
| LI AUTO INC | SPONSORED ADS | 50202M102 |  | 3819636 | 140894 | SH |  | SOLE |  | 140894 | 0 | 0 |
| LULULEMON ATHLETICA INC | COM | 550021109 |  | 3539942 | 14900 | SH |  | SOLE |  | 14900 | 0 | 0 |
| LUMENTUM HLDGS INC | COM | 55024U109 |  | 3220158 | 33875 | SH |  | SOLE |  | 33875 | 0 | 0 |
| MARVELL TECHNOLOGY INC | COM | 573874104 |  | 12638956 | 163294 | SH |  | SOLE |  | 163294 | 0 | 0 |
| META PLATFORMS INC | CL A | 30303M102 |  | 21149231 | 28654 | SH |  | SOLE |  | 28654 | 0 | 0 |
| MICROSOFT CORP | COM | 594918104 |  | 6807553 | 13686 | SH |  | SOLE |  | 13686 | 0 | 0 |
| MICROSTRATEGY INC | CL A NEW | 594972408 |  | 424442 | 1050 | SH |  | SOLE |  | 1050 | 0 | 0 |
| MINISO GROUP HLDG LTD | SPONSORED ADS | 66981J102 |  | 4738166 | 260053 | SH |  | SOLE |  | 260053 | 0 | 0 |
| MONGODB INC | CL A | 60937P106 |  | 366643 | 1746 | SH |  | SOLE |  | 1746 | 0 | 0 |
| NETEASE INC | SPONSORED ADS | 64110W102 |  | 3113643 | 23136 | SH |  | SOLE |  | 23136 | 0 | 0 |
| NETFLIX INC | COM | 64110L106 |  | 6287215 | 4695 | SH |  | SOLE |  | 4695 | 0 | 0 |
| NEW ORIENTAL ED  TECHNOLOGY | SPON ADR | 647581206 |  | 5944373 | 110183 | SH |  | SOLE |  | 110183 | 0 | 0 |
| NIKE INC | CL B | 654106103 |  | 291264 | 4100 | SH |  | SOLE |  | 4100 | 0 | 0 |
| NURIX THERAPEUTICS INC | COM | 67080M103 |  | 670848 | 58898 | SH |  | SOLE |  | 58898 | 0 | 0 |
| NUSCALE PWR CORP | CL A COM | 67079K100 |  | 466452 | 11791 | SH |  | SOLE |  | 11791 | 0 | 0 |
| NVIDIA CORPORATION | COM | 67066G104 |  | 30068341 | 190318 | SH |  | SOLE |  | 190318 | 0 | 0 |
| OKLO INC | COM CL A | 02156V109 |  | 625408 | 11170 | SH |  | SOLE |  | 11170 | 0 | 0 |
| ON HLDG AG | NAMEN AKT A | H5919C104 |  | 3240529 | 62258 | SH |  | SOLE |  | 62258 | 0 | 0 |
| ORACLE CORP | COM | 68389X105 |  | 1495648 | 6841 | SH |  | SOLE |  | 6841 | 0 | 0 |
| PALANTIR TECHNOLOGIES INC | CL A | 69608A108 |  | 1066568 | 7824 | SH |  | SOLE |  | 7824 | 0 | 0 |
| PAYPAL HLDGS INC | COM | 70450Y103 |  | 225264 | 3031 | SH |  | SOLE |  | 3031 | 0 | 0 |
| PDD HOLDINGS INC | SPONSORED ADS | 722304102 |  | 17216570 | 164500 | SH |  | SOLE |  | 164500 | 0 | 0 |
| PHILIP MORRIS INTL INC | COM | 718172109 |  | 505775 | 2777 | SH |  | SOLE |  | 2777 | 0 | 0 |
| QIFU TECHNOLOGY INC | AMERICAN DEP | 88557W101 |  | 12099001 | 279036 | SH |  | SOLE |  | 279036 | 0 | 0 |
| QUANTASING GROUP LTD | ADS | 74767N107 |  | 2054430 | 217400 | SH |  | SOLE |  | 217400 | 0 | 0 |
| REDDIT INC | CL A | 75734B100 |  | 1413250 | 9386 | SH |  | SOLE |  | 9386 | 0 | 0 |
| RLX TECHNOLOGY INC | SPONSORED ADS | 74969N103 |  | 1900306 | 859867 | SH |  | SOLE |  | 859867 | 0 | 0 |
| ROBINHOOD MKTS INC | COM CL A | 770700102 |  | 10952557 | 116977 | SH |  | SOLE |  | 116977 | 0 | 0 |
| ROBLOX CORP | CL A | 771049103 |  | 16631489 | 158094 | SH |  | SOLE |  | 158094 | 0 | 0 |
| ROCKET LAB CORP | COM | 773121108 |  | 888241 | 24832 | SH |  | SOLE |  | 24832 | 0 | 0 |
| ROYAL CARIBBEAN GROUP | COM | V7780T103 |  | 2865231 | 9150 | SH |  | SOLE |  | 9150 | 0 | 0 |
| RUBRIK INC. | CL A | 781154109 |  | 827991 | 9242 | SH |  | SOLE |  | 9242 | 0 | 0 |
| RYANAIR HOLDINGS PLC | SPONSORED ADR | 783513203 |  | 2768564 | 48007 | SH |  | SOLE |  | 48007 | 0 | 0 |
| SANDISK CORP | COM | 80004C200 |  | 6533302 | 144064 | SH |  | SOLE |  | 144064 | 0 | 0 |
| SEA LTD | SPONSORD ADS | 81141R100 |  | 14565096 | 91066 | SH |  | SOLE |  | 91066 | 0 | 0 |
| SELECT SECTOR SPDR TR | ENERGY | 81369Y506 |  | 3314884 | 39086 | SH |  | SOLE |  | 39086 | 0 | 0 |
| SELECT SECTOR SPDR TR | FINANCIAL | 81369Y605 |  | 4610026 | 88028 | SH |  | SOLE |  | 88028 | 0 | 0 |
| SELECT SECTOR SPDR TR | INDL | 81369Y704 |  | 1548960 | 10500 | SH |  | SOLE |  | 10500 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS DISCR | 81369Y407 |  | 2390630 | 11000 | SH |  | SOLE |  | 11000 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI CONS STPLS | 81369Y308 |  | 3036375 | 37500 | SH |  | SOLE |  | 37500 | 0 | 0 |
| SELECT SECTOR SPDR TR | SBI INT-UTILS | 81369Y886 |  | 1501237 | 18384 | SH |  | SOLE |  | 18384 | 0 | 0 |
| SELECT SECTOR SPDR TR | TECHNOLOGY | 81369Y803 |  | 1696641 | 6700 | SH |  | SOLE |  | 6700 | 0 | 0 |
| SNOWFLAKE INC | CL A | 833445109 |  | 910296 | 4068 | SH |  | SOLE |  | 4068 | 0 | 0 |
| SOFI TECHNOLOGIES INC | COM | 83406F102 |  | 824440 | 45274 | SH |  | SOLE |  | 45274 | 0 | 0 |
| SPDR DOW JONES INDL AVERAGE | UT SER 1 | 78467X109 |  | 5221703 | 11850 | SH |  | SOLE |  | 11850 | 0 | 0 |
| SPDR GOLD TR | GOLD SHS | 78463V107 |  | 15224734 | 49945 | SH |  | SOLE |  | 49945 | 0 | 0 |
| SPDR S 500 ETF TR | TR UNIT | 78462F103 |  | 6443558 | 10429 | SH |  | SOLE |  | 10429 | 0 | 0 |
| SPOTIFY TECHNOLOGY S A | SHS | L8681T102 |  | 10732785 | 13987 | SH |  | SOLE |  | 13987 | 0 | 0 |
| SUMMIT THERAPEUTICS INC | COM | 86627T108 |  | 18939817 | 890029 | SH |  | SOLE |  | 890029 | 0 | 0 |
| TAIWAN SEMICONDUCTOR MFG LTD | SPONSORED ADS | 874039100 |  | 13083874 | 57768 | SH |  | SOLE |  | 57768 | 0 | 0 |
| TAKE-TWO INTERACTIVE SOFTWAR | COM | 874054109 |  | 437130 | 1800 | SH |  | SOLE |  | 1800 | 0 | 0 |
| TAL EDUCATION GROUP | SPONSORED ADS | 874080104 |  | 1550691 | 151731 | SH |  | SOLE |  | 151731 | 0 | 0 |
| TAPESTRY INC | COM | 876030107 |  | 15622804 | 177916 | SH |  | SOLE |  | 177916 | 0 | 0 |
| TEMPUS AI INC | CL A | 88023B103 |  | 203328 | 3200 | SH |  | SOLE |  | 3200 | 0 | 0 |
| TENCENT MUSIC ENTMT GROUP | SPON ADS | 88034P109 |  | 1610926 | 82654 | SH |  | SOLE |  | 82654 | 0 | 0 |
| TERADYNE INC | COM | 880770102 |  | 1103948 | 12277 | SH |  | SOLE |  | 12277 | 0 | 0 |
| TESLA INC | COM | 88160R101 |  | 778267 | 2450 | SH |  | SOLE |  | 2450 | 0 | 0 |
| TJX COS INC NEW | COM | 872540109 |  | 4308566 | 34890 | SH |  | SOLE |  | 34890 | 0 | 0 |
| TOURMALINE BIO INC | COM | 89157D105 |  | 1390075 | 86934 | SH |  | SOLE |  | 86934 | 0 | 0 |
| TRANE TECHNOLOGIES PLC | SHS | G8994E103 |  | 349928 | 800 | SH |  | SOLE |  | 800 | 0 | 0 |
| TTM TECHNOLOGIES INC | COM | 87305R109 |  | 249002 | 6100 | SH |  | SOLE |  | 6100 | 0 | 0 |
| UBER TECHNOLOGIES INC | COM | 90353T100 |  | 350062 | 3752 | SH |  | SOLE |  | 3752 | 0 | 0 |
| US FOODS HLDG CORP | COM | 912008109 |  | 291483 | 3785 | SH |  | SOLE |  | 3785 | 0 | 0 |
| VANECK ETF TRUST | SEMICONDUCTR ETF | 92189F676 |  | 474096 | 1700 | SH |  | SOLE |  | 1700 | 0 | 0 |
| VIKING HOLDINGS LTD | ORD SHS | G93A5A101 |  | 274550 | 5152 | SH |  | SOLE |  | 5152 | 0 | 0 |
| VIPSHOP HLDGS LTD | SPONSORED ADS A | 92763W103 |  | 7970676 | 529613 | SH |  | SOLE |  | 529613 | 0 | 0 |
| VISA INC | COM CL A | 92826C839 |  | 787501 | 2218 | SH |  | SOLE |  | 2218 | 0 | 0 |
| VISTRA CORP | COM | 92840M102 |  | 7922759 | 40879 | SH |  | SOLE |  | 40879 | 0 | 0 |
| VNET GROUP INC | SPONSORED ADS A | 90138A103 |  | 410619 | 59510 | SH |  | SOLE |  | 59510 | 0 | 0 |
| WEIBO CORP | SPONSORED ADR | 948596101 |  | 617801 | 64827 | SH |  | SOLE |  | 64827 | 0 | 0 |
| WESTERN DIGITAL CORP | COM | 958102105 |  | 11312472 | 176785 | SH |  | SOLE |  | 176785 | 0 | 0 |
| WYNN RESORTS LTD | COM | 983134107 |  | 3091110 | 33000 | SH |  | SOLE |  | 33000 | 0 | 0 |
| XPENG INC | ADS | 98422D105 |  | 229758 | 12850 | SH |  | SOLE |  | 12850 | 0 | 0 |
| YUM CHINA HLDGS INC | COM | 98850P109 |  | 3668187 | 82044 | SH |  | SOLE |  | 82044 | 0 | 0 |
| ZTO EXPRESS CAYMAN INC | SPONSORED ADS A | 98980A105 |  | 480439 | 27067 | SH |  | SOLE |  | 27067 | 0 | 0 |

---