The Securities and Exchange Commission has not necessarily reviewed the information in this filing and has not determined if it is accurate and complete.
The reader should not assume that the information is accurate and complete.

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 13F

FORM 13F INFORMATION TABLE

OMB APPROVAL
OMB Number: 3235-0006
Estimated average burden
hours per response: 23.8

COLUMN 1 COLUMN 2 COLUMN 3 COLUMN 4 COLUMN 5 COLUMN 6 COLUMN 7 COLUMN 8
VALUE SHRS OR SH/ PUT/ INVESTMENT OTHER VOTING AUTHORITY
NAME OF ISSUER TITLE OF CLASS CUSIP (x$1000) PRN AMT PRN CALL DISCRETION MANAGER SOLE SHARED NONE
APPLE INC AAPL US COM 037833100 1,242 5,500 SH   DFND   5,500 0 0
AMAZON.COM INC AMZN US COM 023135106 7,211 3,600 SH   DFND   3,600 0 0
ALIBABA GROUP HOLDING-SP ADR BABA US SPONSORED ADS 01609W102 25,433 154,364 SH   DFND   154,364 0 0
BILIBILI INC-SPONSORED ADR BILI US SPONS ADS REP Z 090040106 26,669 1,978,412 SH   DFND   1,978,412 0 0
BAOZUN INC-SPN ADR BZUN US SPONSORED ADR 06684L103 38,147 785,249 SH   DFND   785,249 0 0
NEW ORIENTAL EDUCATIO-SP ADR EDU US SPON ADR 647581107 7,355 99,377 SH   DFND   99,377 0 0
FACEBOOK INC-A FB US CL A 30303M102 7,466 45,400 SH   DFND   45,400 0 0
GILEAD SCIENCES INC GILD US COM 375558103 4,054 52,500 SH   DFND   52,500 0 0
ALPHABET INC-CL C GOOG US CAP STK CL C 02079K107 477 400 SH   DFND   400 0 0
L BRANDS INC LB US COM 501797104 13,932 459,800 SH   DFND   459,800 0 0
NIKE INC -CL B NKE US CL B 654106103 5,337 63,000 SH   DFND   63,000 0 0
NETEASE INC-ADR NTES US SPONSORED ADR 64110W102 24,097 105,571 SH   DFND   105,571 0 0
NUTRIEN LTD NTR US COM 67077M108 1,863 32,280 SH   DFND   32,280 0 0
PINDUODUO INC-ADR PDD US SPONSORED ADS 722304102 9,309 354,100 SH   DFND   354,100 0 0
SNAP INC - A SNAP US CL A 83304A106 2,289 269,900 SH   DFND   269,900 0 0
SOGOU INC-ADR SOGO US ADR REPSTG A 83409V104 9,755 1,312,944 SH   DFND   1,312,944 0 0
TAL EDUCATION GROUP- ADR TAL US SPONSORED ADS 874080104 76,306 2,967,961 SH   DFND   2,967,961 0 0
TWITTER INC TWTR US COM 90184L102 1,767 62,100 SH   DFND   62,100 0 0
VIPSHOP HOLDINGS LTD - ADS VIPS US SPONSORED ADR 92763W103 5,005 802,100 SH   DFND   802,100 0 0
YELP INC YELP US CL A 985817105 1,766 35,900 SH   DFND   35,900 0 0
YY INC-ADR YY US ADS REPCOM CLA 98426T106 884 11,800 SH   DFND   11,800 0 0