Legal analysis: fund companies cannot hold shares of listed companies. If the fund is listed and traded without approval, the China Securities Regulatory Commission shall order it to stop trading and impose a fine of 6,543,800 yuan.

Legal basis: Article 44 of the Interim Measures for the Administration of Securities Investment Funds. If the funds are listed and traded without approval, the China Securities Regulatory Commission shall order them to stop trading and impose a fine of 6,543,800 yuan.