BABA(US:BABA) Zhong Guo Zheng Quan Bao·2025-11-12 12:36Core Viewpoint - Jinglin Asset, a major private equity firm, has significantly increased its holdings in Alibaba and initiated positions in several other companies, including domestic autonomous driving leader Wenyan Zhixing, as of the end of Q3 2025 [1][5]. Group 1: Major Holdings - As of the end of Q3 2025, Jinglin Asset holds nearly 30 publicly listed companies in the US market, with the top ten holdings including Facebook, NetEase, NVIDIA, Pinduoduo, Google-A, Manbang, Futu Holdings, Alibaba, Nebius Group, and Qifu Technology [2][4]. - The top ten holdings account for significant portions of the portfolio, with Facebook representing 20%, NetEase 11%, and Alibaba 3.4% [3][5]. Group 2: Changes in Holdings - Jinglin Asset has made substantial increases in its holdings of Alibaba, raising its market value to $151 million, while also slightly reducing its stake in NetEase, which remains above $400 million [5]. - Other notable increases in holdings during Q3 include Facebook, NVIDIA, and Google-A, with Pinduoduo also seeing a slight increase, maintaining a market value exceeding $400 million [5]. Group 3: New Investments - In Q3, Jinglin Asset initiated positions in several new stocks, including Apple with a market value of $54 million and semiconductor design software company Synopsys with a market value of $82 million [6][8]. - The firm also entered the Chinese market by investing in Wenyan Zhixing, with a market value of $27 million, and increased its stake in the hotel industry leader Atour, which now has a market value of $86 million [6][8].