Keep increasing your positions!

In the first quarter, when Chinese stocks were sold off, hundreds of billions of top private equity Jinglin assets increased their positions again! From the point of view of its main rhythm, it is mainly to increase the position of Internet enterprises. In its view, after many challenges this year, the enterprises that survive will be more competitive.

Among them, the top three heavy stocks are all Chinese stocks: NetEase, Inc has become the first heavy stock in Jinglin assets US stocks at one fell swoop: from 830000 shares to 3.6 million shares; in addition, it has greatly increased its holdings of KE Holdings Inc. and JD.com, making it the second and third position stocks. In addition, there is also a direct and substantial increase in the holding of China Internet ETF. However, it has also cleared the ideal of the new force of car building and XPeng Inc..

At the end of the first quarter of 2022, Jinglin assets held a total of 36 companies in U.S. stocks with a market capitalization of $2.33 billion (15.8 billion yuan), down slightly from $2.7 billion at the end of last year.

Reduce his holdings of "Southeast Asian Little Tencent", NetEase, Inc is the first heavy stock.

Jinglin's first overseas stock in the first quarter is no longer the "Southeast Asian Little Tencent" SEA. On the contrary, Jinglin continued to reduce its SEA holdings to 1.69 million shares in the first quarter. Judging from SEA's share price, it fell sharply in the first quarter, nearly halving.

Looking at it longer, it has fallen since late October, and SEA has fallen by more than 80 per cent as of press time. According to the reporter's statistics, this is Jinglin since the establishment of the warehouse in 2019 for the first time encountered a substantial pullback. Previously, Jinglin once gained more than 10 times in SEA and successfully cashed out some of them. When SEA began to fall in October last year, Jinglin once increased its holdings against the market in the fourth quarter, but now it is still depressed by the trend and begins to reduce its positions. As of the end of the first quarter, Jinglin held 1.69 million shares of SEA, with a market capitalization of about $200m, making it the fourth largest position in US stocks.

And the general game stock NetEase, Inc took its place and became the latest number one heavy stock in Jinglin.

Data show that in the first quarter, Jinglin increased its holdings of 830000 shares of NetEase, Inc to 3.6 million shares, with a market capitalization of more than 320 million yuan (about 2.2 billion yuan). It is worth noting that Jinglin is very likely to be NetEase, Inc who increased his position against the market in the first quarter.

In mid-March, the US Securities Regulatory Commission (SEC) suddenly announced the "pre-delisting list", which instantly turned US-listed stocks into "CSI stocks", and the share prices of many companies halved in a few days. Similarly, NetEase, Inc's share price fell nearly 30% in the first quarter, falling from a low of around $100 to $68. Then it kept stabilizing and rebounding. As of press time, the share price has returned to above $90.

The top ten heavy stocks accounted for nearly 80%, and KE Holdings Inc., JD.com and China Internet ETF were crazy to increase their positions.

Specifically, Jinglin assets held US $1.83 billion in the top 10 heavy positions in US stocks in the first quarter, accounting for more than 78 per cent of the total US stock position. Among them, China-listed stocks account for 6.

In addition to the first heavy stock mentioned above is NetEase, Inc, the second and third heavy stocks are still US-listed stocks: KE Holdings Inc. and JD.com. In addition, Jinglin significantly increased its holdings of the two companies in the first quarter.

First, it doubled its holdings of KE Holdings Inc., increasing its holdings by 10.89 million shares to 20.43 million shares; in addition, it nearly tripled its holdings of JD.com, increasing its holdings by 3.08 million shares to 4.35 million shares. Both have a market capitalization of more than $250 million.

From the market trend, Jinglin is also likely to be in mid-March when Chinese stocks hit the gold pit to increase the position, and then both rebounded quickly, some even rose more than 50%.

In addition, Jinglin also directly copied the bottom of the Internet ETF, increasing its holdings by 4.75 million shares to 6.13 million shares, ranking the fifth largest. It also increased its holdings of 1.52 million shares of KANZHUN LIMITED to 3.58 million shares, and also increased its holdings of 230,000 shares of DOORDASH on the "American version of ele.me" platform.

Alphabet Inc-CL C's parent company, ALPHABET, is the sixth largest stock in Jinglin overseas. Jinglin reduced its holdings by nearly half to 57000 shares in the first quarter. In addition, it also reduced its holdings of ZTO Express and Facebook.

Newly joined Tencent Music, greatly increased his holdings of "Uber of the car industry"; clearance XPeng Inc., ideal

In addition to the top ten heavy stocks, Jinglin's overseas operations in the first quarter, as a whole, is to copy the bottom of Chinese stocks.

Among them, the holding of Full Truck Alliance Co. Ltd. Group increased by 5.69 million shares to 7.08 million shares. It is reported that Full Truck Alliance Co. Ltd. Group is a new company formed by the merger of "truck gang" and "full load". It uses a mobile App to match drivers and shippers, and is known as the "Uber of the car industry".

In addition, it has also increased its holdings of more than 1.13 million shares of Fortune, 80, 000 shares of Taiwan Semiconductor Manufacturing Co Ltd, 1100 shares of Tesla, Inc., and bought 6.26 million shares of Tencent Music, 87400 shares of Apple Inc and other giants.

In addition, we also bought JinkoSolar Holding Co Ltd, NASDAQ ETF, I-MAB and lululemon (Lulu lemon).

At the same time, Jinglin cleared two new car-building forces: ideal and XPeng Inc., which previously held 985000 shares and 218000 shares respectively. Vipshop Holdings Limited was cleared on the way.

Jinglin: in the next two or three years, the profits of many of the excellent companies we choose will continue to grow.

According to reporters from multiple sources, Jing Lin's latest views on the market are as follows:

The impact of the domestic epidemic and the conflict between Russia and Ukraine have led to investors' concerns about geopolitical risks, as well as the Fed's tightening policies and other factors, causing short-term investor confidence to be frustrated and the market to fall.

At present, most of the investor sentiment is pessimistic, which shows that the market has reflected most of the negative factors. The short-term market is affected by external uncertainties, and there may still be fluctuations and iterations.

In our combination, we have also fully considered the impact of current relevant domestic and international events, and tend to choose companies with excellent fundamental texture.We are more concerned about the business situation than the short-term price fluctuations, and we will see that the profits of many excellent companies we choose will continue to grow in the next two to three years from now.

Based on the complex economic state at this stage, we pay more attention to the operating cash flow performance of enterprises. We re-examine the changes in the competitiveness of the company in the portfolio, the stability of the management, the ability to resist the uncertain environment, and more focus on investing in the companies with the most core competitiveness and long-term development space.

As long as China continues to focus on economic construction, the advantages of a large market with a population of 1.4 billion and a relatively complete industrial chain will certainly show opportunities for value creation in the long run.At present, the short-term shock period caused by the disruption of the supply chain and stagnant consumption will eventually pass, and the enterprises that survive will be more competitive.

Finally, the latest position of Jinglin assets in US stocks is attached: