Combined offer and individual offer. There are two ways to raise classified funds in China: joint raising and separate raising. The merger offer refers to the investor's subscription with the parent fund code. After the fundraising is completed, the basic share of OTC fundraising will not be split, and the basic share of OTC fundraising will be automatically split into sub-shares after the fundraising is completed. Separate issuance is subscription by sub-code, and the proportion of shares is realized through proportional placement. Classified funds raised separately in China are limited to bond-type graded funds.