When raising listed open-end funds, the subscription price of fund managers and their consignment agencies is consistent with the subscription price of the trading system of Shenzhen Stock Exchange. The following explains how to determine the ordering price and cost of two distribution channels respectively:

(1) Investors who subscribe for funds through the trading system of Shenzhen Stock Exchange must subscribe according to their shares, that is, the investor's subscription declaration is based on their shares. The listing price of Shenzhen Stock Exchange is 1 yuan, and the formula for calculating the subscription amount and fees payable by investors is:

Subscription amount =( 1+ brokerage commission ratio) × subscription share

Brokerage commission = brokerage commission ratio × subscription share

Among them, brokers can set the commission ratio of investors' subscription according to the subscription rate agreed in the fund prospectus.

(2) Investors who subscribe for funds through fund managers and their consignment agencies must subscribe according to the amount, that is, the investor's subscription declaration is in yuan. The fund is sold at the face value of 1 yuan, and the calculation formula of subscription fee and available subscription share payable by investors is as follows:

Subscription fee = subscription amount /( 1+ subscription rate) × subscription rate.

Subscription share = subscription amount /( 1+ subscription rate)

Among them, the subscription rate is agreed by the fund manager in the fund prospectus.