It is similar to stock dividend, and then it is converted into the face value (1 yuan) and net assets of the stock.

The rules of each classification are not necessarily the same.

Have a plenty of AB and hen, both converted into 1 yuan, and have only B, A and hen not participating, such as the first discount of Shi Sheng grade B 150072.

If the discount is mostly to protect the interests of Class A fund holders, then the discount is more to "protect leveraged" fund holders.

Because Class B won't pay dividends, there is no other way to quit except to sell Class B in any form.

After the net value of hens reaches a certain price, it can be said that it gives the holders of Class B a chance to quit, which is beneficial to the holders of Class B as a whole.

But specific to each discount, we should look at it separately, such as the discount premium of AB, the average rate of return of Grade A at that time, the trend of the market outlook, market sentiment and so on.

Compared with discount, Class A holders can have obvious arbitrage opportunities; Discount is basically a gamble, depending on the weather, location and people.