Deferred redemption of funds means that when there is a huge redemption of funds, the shares that have not been redeemed on the same day will continue to be postponed to the next day. Huge redemption means that the net redemption application share of a single open day fund exceeds 10% of the total fund share. Under normal circumstances, it takes t+5 working days for fund redemption, and holidays will be postponed.

Please note:

1. Deferred redemption may affect the liquidity of investors, because investors cannot get the redemption money in time and need to wait for the next open day to continue redemption.

2. Delayed redemption may cause investors to lose income, because the net value of the fund on the next open day may be lower than the net value of the fund on that day, thus reducing the redemption amount of investors.