1. Calculation of the net value of fund shares

To calculate the subscription and redemption prices of fund shares, the net value of fund shares should be calculated first. The net value of fund shares is equal to the net asset value of the fund divided by the total number of fund shares. The net asset value of the fund refers to the total value of the fund assets minus the fund liabilities that can be deducted from the fund assets in accordance with laws, administrative regulations, the regulations of the State Council's securities regulatory authority and the fund contract. The total value of fund assets includes the sum of the value formed by various marketable securities owned by the fund, principal and interest of bank deposits, fund subscription receivables and other investments. In order to reflect the value of fund assets objectively and accurately, fund asset valuation needs to be carried out in accordance with relevant national regulations and the provisions of the fund contract. Open-end funds are generally required to value fund assets every working day. The objects of valuation are assets such as stocks, bonds, dividends, bond interest, and bank deposit principal and interest held by the fund.

The specific methods of valuation mainly include:

1. Listed and circulating securities are valued based on the market price (average price or closing price) listed on the stock exchange on the valuation day. value; if there is no transaction on the valuation day, the market price on the most recent trading day will be used for valuation.

2. Unlisted stocks are divided into two situations: The stocks that are listed and circulated are new shares or rights issues, and are calculated based on the market price of the same stock listed on the stock exchange on the valuation day. There is no transaction on that day. , calculated based on the market price of the most recent day; unlisted shares that are initial public offerings are calculated based on their cost price.

3. Unlisted treasury bonds and bank deposits are calculated by adding the principal to the accrued interest on the valuation date.

4. The allotment warrants, from the ex-rights date to the allotment confirmation date, are calculated based on the difference between the market price and the allotment price; if the market price is lower than the allotment price, the allotment price is calculated.

5. Other unlisted securities are calculated at their cost price.

6. The dividends and bond interest distributed shall be calculated based on the actual amount received up to the valuation date.

7. Other ways to regulate the fund contract. Liabilities and expenses that can be subtracted from the total asset value of the fund mainly include: redemption payments payable, operating management fees payable, custody fees payable, commissions payable, interest payable, income payable, taxes payable, other payables, etc. 2. Calculation of Subscription and Redemption Prices for Fund Shares

The subscription and redemption prices for Fund Shares are calculated based on the net value of the Fund Shares on the subscription and redemption dates plus or minus relevant fees. The so-called subscription and redemption date refers to the day when fund unit holders subscribe for fund units or request the fund manager to redeem the fund units they hold. The fees mentioned here refer to fund share subscription fees and redemption fees. Fund share subscription and redemption fees are equal to the net value of fund shares multiplied by the subscription and redemption rates. Judging from the current actual operation, fund managers usually have certain discounts on subscription and redemption fees for large subscriptions and redemptions of fund shares held for a long time. The subscription fee rate decreases with the increase in subscription volume. , the redemption rate decreases as the holding years of the redeemed fund shares increase.