1. Baopu Rongsu Private Equity Fund refers to an investment fund set up by raising funds from specific investors in a private way, and the number of investors is strictly limited to 200.

2. Bao Pu Rong Su Public Offering of Fund refers to an investment fund established by raising funds from investors in an open way, with no limit of 200 people. The investment threshold of private equity funds is relatively high and the risks are relatively high.