These are the top 5 holdings of Greenwoods Asset Management Ltd
Pinduoduo Inc (PDD) - 6,403,552 shares, 26.13% of the total portfolio. Shares added by 94.73%
Sea Ltd (SE) - 2,129,532 shares, 9.74% of the total portfolio. Shares added by 2.73%
Facebook Inc (FB) - 1,520,670 shares, 9.54% of the total portfolio. Shares reduced by 23.51%
ZTO Express (Cayman) Inc (ZTO) - 13,588,116 shares, 9.10% of the total portfolio. Shares reduced by 11.06%
Taiwan Semiconductor Manufacturing Co Ltd (TSM) - 2,615,770 shares, 6.55% of the total portfolio. Shares added by 856.41%
New Purchase: Tesla Inc (TSLA)
Greenwoods Asset Management Ltd initiated holding in Tesla Inc. The purchase prices were between $388.04 and $705.67, with an estimated average price of $512.96. The stock is now traded at around $803.520000. The impact to a portfolio due to this purchase was 2.98%. The holding were 183,980 shares as of 2020-12-31.
China Wants to Build a $306 Billion Used-Car Market From Scratch
Bloomberg 1/6/2021 Katrina Nicholas
(Bloomberg Businessweek) Although China has more than 270 million vehicles on its roads, only an estimated 15 million secondhand models were sold in 2019. That’s in sharp contrast to places such as Australia, the U.K., and the U.S., where people buy more used cars than new ones. So policymakers, intent on stimulating domestic consumption, want to change that. China is aiming to double the size of its secondhand-car market to about 2 trillion yuan ($306 billion) by 2025. To get there, Beijing has slashed taxes on used-car dealers, in May reducing the levy to 0.5% from 3% far less than the 17% tax on new vehicles. It’s also making it easier for dealers to trade used cars among themselves by classifying a secondhand vehicle without a license plate as a commodity rather than a personal asset, which simplifies the transaction. “The used-car-trading business i