1. Huaxia Hang Seng ETF Linked Fund is an OTC fund, which can be purchased and redeemed according to the net value of the fund, and can be purchased by fund companies, banks and other consignment agencies.

2. Huaxia Hang Seng ETF is an ETF fund, which is an open-end fund with variable fund share listed on the exchange. It is a special type of open-end fund. It combines the operating characteristics of closed-end funds and open-end funds. Investors can buy or redeem fund shares from fund management companies, and at the same time, they can buy and sell ETF shares at market prices in the secondary market like closed-end funds. However, the purchase and redemption must change the fund share or change the fund share. Because the securities market transaction and the subscription and redemption mechanism exist at the same time, when there is a price difference between the ETF market price and the net value of the fund unit, investors can carry out arbitrage trading. The existence of arbitrage mechanism makes ETF avoid the common discount problem of closed-end funds.

3. Huaxia Hang Seng ETF tracks the underlying index and directly buys stocks. Huaxia Hang Seng ETF Link Fund mainly invests in Hang Seng ETF fund shares, that is, buying ETF funds.