The disclosure of fund-raising information can be divided into initial information disclosure and duration information disclosure. The information disclosure of initial public offering mainly includes the information disclosure from the time before the fund share is sold to the time when the fund contract takes effect. Before the fund share is sold, the fund manager needs to prepare and disclose the prospectus, fund contract, custody agreement, fund share sale announcement and other documents. When the Fund submits a capital verification report to the China Securities Regulatory Commission for fund filing procedures, it shall also prepare and disclose the effective announcement of the fund contract. The disclosure of offering information during the duration mainly refers to the disclosure of updated prospectus by open-end funds every six months after the fund contract takes effect.