Legal Analysis: With the approval of the State Council Securities Regulatory Authority, a fund management company that manages publicly offered funds shall meet the following conditions:

1. It has articles of association that comply with the Company Law of People's Republic of China (PRC);

2. The registered capital shall not be less than 1 100 million yuan, and must be paid-in monetary capital;

3. The major shareholders engaged in financial business or managing financial institutions have good performance, good financial status and social reputation, and their assets have reached the standards set by the State Council, and they have no illegal records in the last three years;

4. The number of personnel who have obtained the qualification for fund practice has reached a quorum;

5. Directors, supervisors and senior managers have corresponding qualifications;

6. Having business premises, safety precautions and other facilities related to the fund management business that meet the requirements;

7. Good internal governance structure, perfect internal audit monitoring system and risk control system;

8. Other conditions as prescribed by laws and administrative regulations and approved by the State Council Securities Regulatory Authority.

Legal basis: Article 23 of the Company Law of People's Republic of China (PRC) shall meet the following conditions for establishing a limited liability company:

(1) Shareholders meet the quorum;

(2) The capital contribution subscribed by all shareholders in accordance with the Articles of Association;

(3) Shareholders * * * agree to formulate the Articles of Association;

(4) Having a company name and establishing an organization meeting the requirements of a limited liability company;

(5) Having a company domicile.