First of all, Alipay redemption needs to deduct a certain percentage of handling fees, which will reduce the total amount of funds of investors. Secondly, Alipay redemption shows the share, not the total amount. Investors think that there are fewer funds, but what they actually see is the fund share. Fund share * fund net value = total assets of the fund.

The fund is calculated according to the net value at the close of the trading day. The net value on the day of fund redemption is unknown, and only the fund share is determined, so the fund share redeemed at the time of fund redemption.