For fund subscriptions during daytime trading hours, the transaction price is calculated based on the closing price of the day, and cannot be calculated based on the closing price of the previous day.

Purchase or redemption on the same day will not be calculated based on the net value of the previous day, but can only be calculated on the same day or the next day.

1. If the fund is purchased or redeemed before 15:00 on the day, the net value of the day will be calculated.

2. If it is after 15:00, it will be calculated based on the net value on day t+1, which is the net value on the next trading day.