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

FORM 13F COVER PAGE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
Report for the Calendar Year or Quarter Ended:
03-31-2025
Check here if Amendment: ☐ Amendment Number:
This Amendment (Check only one.):☐ is a restatement.
☐ adds new holdings entries.

Institutional Investment Manager Filing this Report:

Name:
HSG Holding Ltd
Address:
SUITE 3613, 36/F, TWO PACIFIC PLACE
88 QUEENSWAY
NA, K3 NA
Form 13F File Number:
028-15811

The institutional investment manager filing this report and the person by whom it is signed hereby represent that the person signing the report is authorized to submit it, that all information contained herein is true, correct and complete, and that it is understood that all required items, statements, schedules, lists, and tables, are considered integral parts of this form.


Person Signing this Report on Behalf of Reporting Manager:
Name:
Neil Nanpeng Shen
Title:
Director
Phone:
852-2501-8989


Signature, Place, and Date of Signing:

/s/ Neil Nanpeng Shen
                         [Signature]
Hong Kong, HONG KONG
                 [City, State]
05-13-2025
                           [Date]
                          

Report Type (Check only one.):

☒ 13F HOLDINGS REPORT. (Check here if all holdings of this reporting manager are reported in this report.) 

☐ 13F NOTICE. (Check here if no holdings reported are in this report, and all holdings are reported by other reporting manager(s).) 

☐ 13F COMBINATION REPORT. (Check here if a portion of the holdings for this reporting manager are reported in this report and a portion are reported by other reporting manager(s).)


Form 13F Summary Page

Report Summary:

Number of Other Included Managers:
7
Form 13F Information table Entry Total:
23
Form 13F Information table Value Total:
1702997753
          (thousands)

List of Other Included Managers:

Provide a numbered list of the name(s) and Form 13F file number(s) of all institutional investment managers with respect to which this report is filed, other than the manager filing this report.
[If there are no entries in this list, state "NONE" and omit the column headings and list entries.]

No.Form 13F File NumberNameCIK
1
028-15812
SNP China Enterprises Ltd
 
2
028-15814
SHEN NEIL NANPENG
 
3
028-22044
HSG Venture V Management, L.P.
 
4
028-20069
HSG Growth V Management, L.P.
 
5
028-23059
HSG Growth VI Management, L.P.
 
6
028-20070
HSG Growth IV Management, L.P.
 
7
028-25296
HSG Onshore Fund Management, L.P.
 


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

FORM 13F INFORMATION TABLE
OMB APPROVAL
OMB Number:3235-0006
Expires:July 31, 2015
Estimated average burden
hours per response:23.8
COLUMN 1COLUMN 2COLUMN 3COLUMN 4COLUMN 5COLUMN 6COLUMN 7COLUMN 8
VALUESHRS ORSH/PUT/INVESTMENTOTHERVOTING AUTHORITY
NAME OF ISSUERTITLE OF CLASSCUSIP(x$1000)PRN AMTPRNCALLDISCRETIONMANAGERSOLESHAREDNONE
ADAGENE INCADS0053291072,028,4801,343,364SHDFND1,21,343,364 0 0
ARRIVENT BIOPHARMA INCCOM04272N10213,982,533663,308SHDFND1,2663,308 0 0
BITDEER TECHNOLOGIES GROUPCL A ORD SHSG114481001,359,573138,168SHDFND1,2,4138,168 0 0
BITDEER TECHNOLOGIES GROUPCL A ORD SHSG114481001,530,750155,564SHDFND1,2155,564 0 0
BIT MINING LIMITEDSPON ADR055474209627,264350,427SHDFND1,2350,427 0 0
BURNING ROCK BIOTECH LTDADS12233L20662,36321,212SHDFND1,221,212 0 0
51TALK ONLINE EDUCATION GROUSPONSORED ADR16954L2047,816,870474,901SHDFND1,2,3474,901 0 0
51TALK ONLINE EDUCATION GROUSPONSORED ADR16954L2043,165,620192,322SHDFND1,2192,322 0 0
DINGDONG CAYMAN LTDADS25445D10129,078,44311,141,166SHDFND1,2,411,141,166 0 0
FUTU HLDGS LTDSPON ADS CL A36118L10679,000,448894,885SHDFND1,2894,885 0 0
FUTU HLDGS LTDSPON ADS CL A36118L10614,368,365162,759SHDFND1,2162,759 0 0
KANZHUN LIMITEDSPONSORED ADS48553T10627,759,0001,900,000SHDFND1,21,900,000 0 0
KE HLDGS INCSPONSORED ADS48249710441,015,444739,017SHDFND1,2,4739,017 0 0
KE HLDGS INCADS48249710466,600,0001,200,000SHDFND1,21,200,000 0 0
LYELL IMMUNOPHARMA INCCOM55083R1041,462,0793,045,997SHDFND1,2,43,045,997 0 0
NOAH HLDGS LTDSPON ADS65487X10226,451,1462,988,830SHDFND1,22,988,830 0 0
PDD HOLDINGS INCSPONSORED ADS722304102117,265,0811,167,630SHDFND1,2,41,167,630 0 0
PDD HOLDINGS INCSPONSORED ADS7223041021,248,180,69712,428,365SHDFND1,2,612,428,365 0 0
STRUCTURE THERAPEUTICS INCSPONSORED ADS86366E1065,940,770254,750SHDFND1,2254,750 0 0
STRUCTURE THERAPEUTICS INCSPONSORED ADS86366E106263,79611,312SHDFND1,211,312 0 0
TH INTERNATIONAL LIMITEDORDINARY SHARESG8656L1067,541,5762,900,606SHDFND1,2,52,900,606 0 0
BARINTHUS BIOTHERAPEUTICS PLADS91864C1071,164,7881,420,473SHDFND1,21,420,473 0 0
LOTUS TECHNOLOGY INCSPONSORED ADR54572F1016,332,6704,834,099SHDFND1,2,44,834,099 0 0