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Portfolio

Portfolio

A concentrated portfolio built across industries and strategies, held for the long term as a matter of course.

The portfolio is assembled company by company, not filled against sector quotas. Every holding follows its own research and deliberation and rests on an explicit investment case; balance at the portfolio level comes from allocation discipline rather than after-the-fact diversification.

Through the holding period, the investment and portfolio-operations teams stay engaged with each company's strategy and performance, and the original case is revisited on a regular rhythm. The companies below are representative of the current portfolio.

Portfolio Composition by Strategy
  • Growth Investments31%
  • Long-Term Corporate Holdings15%
  • Private Investments15%
  • Technology Investments23%
  • Special Situations8%
  • Strategic Investments8%

Growth Investments: 31%; Long-Term Corporate Holdings: 15%; Private Investments: 15%; Technology Investments: 23%; Special Situations: 8%; Strategic Investments: 8%

By number of companies, as of August 2026.

Sector Exposure by Primary Industry
Consumer
1
Infrastructure
1
Advanced Manufacturing
1
Healthcare
1
Artificial Intelligence
1
Robotics & Automation
1
Cybersecurity
1
Logistics & Supply Chain
1
Financial Services
1
Hospitality
1
Media & Entertainment
1
Energy
1
Enterprise Software
1

Consumer: 1; Infrastructure: 1; Advanced Manufacturing: 1; Healthcare: 1; Artificial Intelligence: 1; Robotics & Automation: 1; Cybersecurity: 1; Logistics & Supply Chain: 1; Financial Services: 1; Hospitality: 1; Media & Entertainment: 1; Energy: 1; Enterprise Software: 1

By number of companies.

Portfolio Companies

Anyue LivingAnyue Living operates several household and personal-care brands built on product development rather than marketing spend, sharing a common supply chain.ConsumerHangzhouFirst invested 2017Growth InvestmentsChengyuan InfrastructureA developer and operator of industrial parks and data infrastructure focused on long-duration assets and tenant ecosystems.InfrastructureBeijingFirst invested 2013Long-Term Corporate HoldingsFengyi PrecisionFengyi Precision manufactures precision components for medical and semiconductor equipment makers, protected by two decades of process refinement behind its customer qualifications.Advanced ManufacturingSuzhouFirst invested 2016Private InvestmentsHongji MedicalA manufacturer of in-vitro diagnostic reagents and medical devices sold through hospital and independent laboratory channels.HealthcareBeijingFirst invested 2019Growth InvestmentsLanqing IntelligenceLanqing Intelligence builds computer-vision software for quality inspection and process optimization, embedding algorithmic capability directly into manufacturing lines.Artificial IntelligenceShanghaiFirst invested 2020Technology InvestmentsLanrui RoboticsLanrui Robotics supplies fleets of autonomous mobile robots paired with orchestration software, working as a systems integrator for warehouse and factory automation.Robotics & AutomationShenzhenFirst invested 2024Technology InvestmentsLidun TechnologiesLidun Technologies provides a detection-and-response security platform, paired with managed operations services, to customers in finance, energy and public institutions.CybersecurityShenzhenFirst invested 2025Growth InvestmentsMingchuan LogisticsA regional supply chain and cold-chain logistics operator in central China serving food and pharmaceutical customers.Logistics & Supply ChainWuhanFirst invested 2014Private InvestmentsRuicheng FinTechRuicheng FinTech provides risk-management and payment infrastructure software to regional banks and credit institutions, with customer relationships that typically run a decade or more.Financial ServicesShanghaiFirst invested 2019Growth InvestmentsSulan Hospitality GroupA culture-led boutique hotel operator that owns and manages a portfolio of urban and resort properties.HospitalityChengduFirst invested 2015Long-Term Corporate HoldingsXuguang MediaA documentary and branded content producer whose licensed content library generates ongoing revenue.Media & EntertainmentBeijingFirst invested 2023Special SituationsYaoheng EnergyA distributed energy and industrial storage systems integrator serving industrial parks and manufacturers.EnergyXi'anFirst invested 2021Strategic InvestmentsYunjie SoftwareYunjie Software provides integrated operations software — planning, procurement, shop floor and finance — for mid-market manufacturers, and is midway through a transition from license sales to subscription.Enterprise SoftwareBeijingFirst invested 2018Technology Investments