There is no liquidation of funds. Only leveraged funds will be liquidated if their principal falls. The fund has been delisted, details are as follows:

1. During the duration, the number of fund holders has not reached 100 for 60 consecutive working days, or the net asset value of the fund has been lower than 100 for 60 consecutive working days. 50 million yuan, the fund manager will announce the termination of the fund;

2. The fund is terminated by a vote of the holders' meeting;

3. The fund will be terminated due to major violations of laws and regulations. Ordered to terminate by the China Securities Regulatory Commission;

4. The fund manager cannot continue to serve as the fund manager due to dissolution, bankruptcy, cancellation, etc., and there is no other appropriate fund manager to assume the original position. Have rights and obligations;

5. The fund custodian cannot continue to serve as the custodian of the fund due to dissolution, bankruptcy, cancellation, etc., and there is no other appropriate fund custodian to assume its original rights and obligations. Obligations;

6. Fund merger and cancellation due to changes in investment direction;

7. Other circumstances permitted by the China Securities Regulatory Commission.