1, Caitong Fund

2. harvest fund

3. China Post Fund

1) fixed increase, that is, private placement, is a kind of private placement. Issue investment products such as bonds or stocks to a limited number of senior institutional (or individual) investors. Sometimes it is also called "private placement" or "private placement". The issue price is determined by the investors participating in the issue through bidding. The issuing procedure is more flexible than public offering. It is generally believed that this financing method is more suitable for enterprises with small financing scale and high information asymmetry. After China's new securities law and share reform were formally implemented, most listed companies adopted this equity financing method. The relevant regulations of China Securities Regulatory Commission include: the number of issuers shall not exceed 35, the issue price shall not be lower than 80% of the market price, the issued shares shall not be transferred within 6 months (65,438+08 months if the major shareholder subscribes), the use of raised funds conforms to the national industrial policy, and the listed companies and their senior management personnel have no irregularities.

2) Private investment funds (hereinafter referred to as fixed-income funds) refer to funds that mainly participate in the non-public offering of shares by listed companies, that is, investment funds that mainly invest in the non-public offering of shares by listed companies. Private placement refers to the non-public offering of shares by listed companies to a few qualified specific investors. It is stipulated that the number of issuers shall not exceed 65,438+00, the issue price shall not be lower than 90% of the market price in the 20 trading days before the announcement, and the issued shares shall not be transferred to the controlling shareholder within 65,438+02 months (within 36 days) or several months after subscription).

3) Private placement is a non-public offering of shares to specific investors. In order to acquire assets or increase working capital, listed companies often raise funds through private placement. The price of private placement is often lower than the market price. The equity lock-up period is about one year, after which it can be circulated. This enables investment institutions to participate in high-growth companies or industries in a concise and low-cost way, and easily gain profits from the rapid development of companies or industries.

4) In order to avoid the systemic risk of locking in the stock market, private investors can use stock index futures to implement the selling hedging strategy, that is, short the stock index futures during the locking period. The lock-up period of private placement is as long as one year, so it is impossible to implement hedging strategy during the whole lock-up period. When the stock index rises, it is meaningless to sell hedging. Only when the stock index is in a downward trend is it a good time to implement hedging strategy. Therefore, it is more appropriate to choose a positive hedging strategy.