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Do the subscription conditions, market value and capital of new shares have to be met at the same time?
At present, the subscription of new shares is a capital subscription, not a market value placement.

There must be enough money in the account. The Shanghai Stock Exchange is an integer multiple of 1000 shares or 1000 shares, and the Shenzhen Stock Exchange is an integer multiple of 500 shares or 500 shares.

The so-called fund subscription mainly considers the size of investors' funds. Within the subscription limit, investors can subscribe as long as they have sufficient funds.

1. The market value of investors' shares shall be calculated according to the closing price of the two trading days (T-2) before the issuance of new shares. The day when the new shares are issued is T day, and the stock funds sold by T- 1 can be purchased on T day;

2. The "stock market value" of investors refers to the market value of unrestricted A shares held by investors in Shanghai or Shenzhen. The market value of ETFs, closed-end funds, B shares, bonds and preferred shares held by investors in the future is not included in the market value of investors subscribing for new shares.

Secondly, according to the requirements of market value subscription, the new method requires that "the market value is calculated according to the market, and the new shares are subscribed in separate accounts, and the subscription can be made only after sufficient funds are available". According to the new subscription requirements, before accepting the subscription entrustment, the investor must deposit the subscription money in full into the fund account opened by the designated trading securities company, otherwise the investor's subscription will be considered invalid. This provision is very different from the previous "market value consolidation settlement, account cross-market subscription, and fund delivery after winning the lottery". In addition, it should be noted that although T-2 holds the market value of Shenzhen Stock Exchange, if there is no Shanghai Stock Exchange, T-2 still cannot subscribe for the newly issued shares in Shanghai Stock Exchange, that is, "the market value is calculated according to the market".