No. Professional investors

According to the "Measures for the Suitability Management of Securities and Futures Investors", professional investors are those who meet one of the following conditions:

1. Established with the approval of the relevant financial regulatory authorities Financial institutions, including securities companies, futures companies, fund management companies and subsidiaries, commercial banks, insurance companies, trust companies, finance companies, etc., securities company subsidiaries, futures company subsidiaries, private equity companies, etc. that have been filed or registered with the industry meeting Fund manager.

2. Financial management products issued by the above-mentioned institutions to investors, including but not limited to asset management products of securities companies, products of fund management companies and their subsidiaries, asset management products of futures companies, bank financial products, and insurance products , trust products, and private equity funds registered with industry associations.

3. Social security funds, enterprise annuities and other pension funds, charity funds and other social welfare funds, QFII, RQFII.

4. Legal persons or other organizations that meet the following conditions at the same time:

(1) The net assets at the end of the last year are not less than 20 million yuan

(2) Financial assets at the end of the last year shall not be less than 100 million yuan

(3) Have more than 2 years of investment experience in securities, funds, futures, gold, foreign exchange, etc.

5. Natural persons who meet the following conditions at the same time

(1) Financial assets are not less than 5 million yuan, or personal average annual income in the last three years is not less than 500,000 yuan

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(2) Have more than 2 years of investment experience in securities, funds, futures, gold, foreign exchange, etc., or have more than 2 years of financial product design, investment, risk management and related work experience, or fall under the provisions of item 1 Senior managers of professional investors, certified public accountants and lawyers who have obtained professional qualifications and are engaged in financial-related businesses.

Standards for qualified investors

According to the provisions of the "Interim Measures for the Supervision and Administration of Private Equity Investment Funds", private equity fund investors are divided into two categories: the unspecified public and qualified investors. Among them, qualified investors refer to units and individuals who have the corresponding risk identification ability and risk-taking ability, invest no less than 1 million yuan in a single private equity fund, and meet the following relevant standards:

(1) Units with net assets of no less than 10 million yuan;

(2) Individuals with financial assets of no less than 3 million yuan or personal average annual income in the past three years of no less than 500,000 yuan.

At the same time, the following investors are regarded as qualified investors:

(3) Social security funds, enterprise annuities and other pension funds, charity funds and other social welfare funds;

(4) Investment plans established in accordance with the law and registered with the Asset Management Association;

(5) Private equity fund managers and their employees who invest in the private equity funds they manage;

( 6) Other investors specified by the China Securities Regulatory Commission.

According to the provisions of the "Guiding Opinions on Regulating the Asset Management Business of Financial Institutions", qualified investors refer to those who have corresponding risk identification capabilities and risk-taking abilities, and who invest no less than a certain amount in a single asset management product Natural persons and legal persons or other organizations that meet the following conditions.

(1) Have more than 2 years of investment experience, and meet one of the following conditions: the net financial assets of the family are not less than 3 million yuan, the financial assets of the family are not less than 5 million yuan, or in the past 3 years, The average annual income is not less than 400,000 yuan.

(2) Legal entities with net assets of not less than 10 million yuan at the end of the last year.

(3) Other circumstances considered as qualified investors by the financial management department.