The world's fourth largest Chinese equity fund, the "Morgan China A-share Opportunity Fund" from JPMorgan Chase, increased its positions in Maotai and Wuliangye
in April. At the end of April, the number of Guizhou Maotai shares held by the fund increased by about 742% month on month, and the number of Wuliangye shares held by the fund increased by 10%. The number of shares of Ping An, the largest heavy warehouse stock, increased by 1410.06% on a month on month basis. By the end of April, the market value of "Morgan China A-share Opportunity Fund" holding Wuliangye was about HK $1.897 billion (about RMB 1.565 billion), and the market value of holding Guizhou Maotai was about HK $1.640 billion (about RMB 1.353 billion).