Fund transactions are based on the net value of fund shares, not the cumulative net value of shares.

Detailed:

The trading price of stock open-end funds on the fund open day adopts the principle of "unknown price". Both subscription and redemption adopt the principle of "unknown price", that is, the subscription and redemption prices are calculated based on the net asset value of the fund unit on the effective subscription date (T date), and are announced by the net asset value manager on t+ 1 day. Special note: what investors see in the bank on T day is the net value of the previous working day (t- 1), and the application on T day is not based on this net value.