"First in, first out" principle: the holding period of each fund share is calculated separately at the time of redemption. The application time and details of each transaction of the fund holder are recorded in the registration system and the electronic system of the sales organization. When the fund is redeemed, it shall be in accordance with

The principle of "first in, first out", that is, the fund bought first is redeemed first. The corresponding relationship between the holding period of fund shares and the redemption rate can be found in the prospectus of relevant funds.