千亿级景林 加仓阿里、拼多多

Core Viewpoint - Jinglin Asset has significantly increased its holdings in Chinese stocks during the third quarter, reflecting a strong belief in the competitive advantages of Chinese industries and a positive outlook on quality Chinese assets [2][8]. Holdings Overview - As of the end of Q3, Jinglin Asset held stocks in 30 companies in the US market, with a total market value of $4.44 billion, a more than 50% increase from $2.873 billion at the end of Q2 [2]. - The top ten holdings include major companies such as Meta, Netease, Nvidia, Pinduoduo, Google-A, Manbang, Futu Holdings, Alibaba, Nebius Group, and Qifu Technology [3][4]. Significant Adjustments - Jinglin Asset has notably increased its positions in Alibaba and Pinduoduo, while also making substantial investments in Wenyan Zhixing, and has completely exited positions in Daqo New Energy, Ctrip, BeiGene, and Hesai Technology [2][6]. - The firm has shown a strong bullish sentiment towards the technology sector, with significant increases in holdings for Nvidia (up 277%) and Google-A (up 852%) [5]. Sector Focus - In addition to technology and e-commerce, Jinglin Asset has also increased its investments in the hotel and smart driving sectors, with a more than 900% increase in holdings of Atour and over 100% in Huazhu [6]. - The firm has made a notable investment in Wenyan Zhixing, a leading player in China's autonomous driving sector, which is transitioning from technology development to commercial operations [7]. Long-term Outlook - Jinglin Asset maintains a positive long-term outlook on the Chinese economy, citing historical resilience and the potential for structural investment opportunities in advanced manufacturing and technology innovation [8]. - The firm emphasizes the competitive advantages of Chinese companies in cost efficiency, talent reserves, and supply chain collaboration, suggesting that quality Chinese enterprises present attractive long-term investment opportunities [8][9].