The fund's holding has been declining for one year because the income has decreased and the fund is still facing exchange rate risks.

1. The Shanghai and Shenzhen 3 Funds have fallen because of the lower income, so it is expected that the value of South Xingrun will keep falling for one year.

2. The Fund is a hybrid fund. Generally speaking, its long-term average risk and expected rate of return are lower than those of stock funds and higher than those of bond funds and money market funds. The Fund can invest in Hong Kong Stock Connect stocks. Apart from general investment risks such as market fluctuation risks similar to those of domestic securities investment funds, the Fund also faces special investment risks such as exchange rate risks and Hong Kong market risks.