Legal analysis: Generally, it may be due to the following reasons: the fund is frozen during the lock-up period and subscription period of the new issue, and it cannot be traded within the lock-up period for several months after its establishment, or the fund shares are distributed as dividends and frozen on the ex-dividend date.

Legal basis: Article 36 of People's Republic of China (PRC) Securities Investment Fund Law: (1) Safe custody of fund property; (2) Opening a capital account and a securities account of the fund property in accordance with regulations. (3) Set up separate accounts for different fund assets under custody to ensure the integrity and independence of the fund assets; (4) Keeping records, account books, statements and other relevant materials of fund custody business activities; (five) in accordance with the provisions of the fund contract, according to the investment instructions of the fund manager, timely liquidation and settlement matters; (6) Handling information disclosure matters related to fund custody business activities; (seven) to issue opinions on financial accounting reports, interim and annual fund reports; (eight) to review the net asset value of the fund and the purchase and redemption price of the fund share calculated by the fund manager; (9) Convening a general meeting of fund share holders in accordance with regulations; (ten) to supervise the investment operation of the fund manager in accordance with the provisions; (eleven) other duties as prescribed by the the State Council securities regulatory agency.