Ant Financial is the major shareholder of Tian Hong Fund, and Yu 'ebao is connected with Yu 'ebao Monetary Fund under Tian Hong Fund. Tian Hong Fund was established on June 8, 2004, and it is one of the national public offering fund management companies approved by China Securities Regulatory Commission. Comparatively speaking, although Yu 'ebao has low income, its risk is small, while most of the fund products operated by Tian Hong Fund are equity funds, and the risk is relatively greater.