There are several situations in which open-end funds cannot be redeemed:

The opening period after the fund raising period is as long as 1-3 months, during which the fund is not redeemable.

When a large amount of redemption occurs, it may not be redeemed, and it is very rare to give up redemption or postpone redemption to the next working day.

Although the fund can apply for redemption, it cannot be redeemed because it is a holiday, and it needs to wait until after the holiday.

Some open-end funds are open regularly, but they are open for subscription and redemption at a fixed time every year, and cannot be redeemed at other times.

Other force majeure causes redemption.