1. Subscription is applied for and purchased by the subscriber when the fund is registered and established.

2. Subscription is a fund purchased after the establishment of the fund;

3. Subscription and subscription because of the different purchase time, the purchase price is also different.

legal ground

Article 28 of the Company Law of People's Republic of China (PRC)

Shareholders shall pay their respective subscribed capital contributions in full and on time in accordance with the Articles of Association. Where the shareholders make capital contributions in cash, they shall deposit their capital contributions in full into the account opened by the limited liability company in the bank; Where non-monetary property is used as capital contribution, the formalities for the transfer of property rights shall be handled according to law. Where a shareholder fails to pay the capital contribution in accordance with the provisions of the preceding paragraph, he shall be liable for breach of contract to the shareholder who has paid the capital contribution in full and on time.

1, the subscription time is different, the subscription behavior of the fund at the time of initial offering is subscription, and the subscription behavior after basic establishment is subscription; Redemption time is different, the subscription can only be redeemed after the closed period, and the second working day after the successful subscription.

2. Legal basis:

Article 65 of the Securities Investment Fund Law stipulates that the subscription, redemption and registration of fund shares of open-end funds shall be handled by the fund manager or the fund service institution entrusted by him.

Article 66 of the Securities Investment Fund Law stipulates that fund managers shall purchase and redeem fund shares every working day; If there are other provisions in the fund contract, those provisions shall prevail.

The investor pays the subscription money and the subscription is established; Subscription takes effect when the fund share registration institution confirms the fund share.

The fund share holder submits the redemption application, and the redemption is established; Redemption takes effect when the fund share registration institution confirms redemption.