If the parent fund is purchased on-site through a qualified securities company, the process is as follows: the share of the parent fund purchased on-site within t days, the split application can be submitted on the same day when the share is found within T+2 working days, and the split share can be obtained and sold in the secondary market within T+3 working days. If the parent fund is purchased off-site, it needs to be transferred to a qualified securities company for cross-system custody transfer before it can be split. The process is as follows: the parent fund purchased off-site on T day can find the share in T+2 working days, and can apply for cross-system custody transfer. After the share is listed in two working days (T+4 working days), you can apply for splitting on the same day, and you can find the split share in the next working day (T+5 working days). At the time of merger, the sub-fund shares bought in the secondary market on T day can be submitted for merger within T+ 1 working day, and the merged parent fund can be obtained within T+2 working days, which can be redeemed on the same day.