First Beijing Investment Ltd’s Pinduoduo PDD Stock Holding History

Bought

Maintained

Sold

Quarter	Market Value	Status	Shares	Change in Stake	Trade Value	Portfolio Weight	Portfolio Position
2026 Q1	$833M	Buy	8,149,162 +1,366,207	+20%	+$144M	35.91%	1
2025 Q4	$769M	Buy	6,782,955 +614,234	+10%	+$76.3M	30.33%	2
2025 Q3	$815M	Buy	6,168,721 +590,869	+11%	+$69.9M	31.48%	2
2025 Q2	$584M	Buy	5,577,852 +1,720,629	+45%	+$181M	32.67%	1
2025 Q1	$457M	Buy	3,857,223 +91,414	+2%	+$10.5M	31.34%	1
2024 Q4	$365M	Buy	3,765,809 +211,090	+6%	+$24.6M	25.93%	1
2024 Q3	$479M	Buy	3,554,719 +770,539	+28%	+$94.7M	35.19%	1
2024 Q2	$370M	Buy	2,784,180 +957,984	+52%	+$130M	40.05%	1
2024 Q1	$212M	Buy	1,826,196 +6,803	+0.4%	+$891K	40.87%	1
2023 Q4	$266M	Sell	1,819,393 -402,554	-18%	-$48.8M	44.04%	1
2023 Q3	$218M	Buy	2,221,947 +147,647	+7%	+$12.7M	41.96%	1
2023 Q2	$143M	Buy	+2,074,300	New	+$143M	43.29%	1