The parent fund of Shenzhen Stock Exchange can only apply for redemption on and off the market, but cannot be listed and traded, and the sub-fund can only be listed and traded, but cannot be redeemed;

the parent fund in Shanghai stock market can apply for redemption on and off the market, and can also be listed and traded, while the sub-fund can only be listed and traded, but not redeemed.

please refer to the fund announcement for the specific trading method of a graded fund, and the sub-fund of the graded fund needs to be authorized to trade.

The authority conditions for individual investors and general institutional investors to apply for the opening of sub-share purchase and parent share split of graded funds:

The daily average securities assets under their names shall not be less than RMB3, 2 trading days before the opening of the application authority;

the risk tolerance is C5 enterprising and above;

there are no prohibitions or restrictions.