Fund net value refers to the subscription price and accumulated net value of each fund. Fund net value generally refers to the net value of fund units, which is equal to the balance of total assets minus total liabilities of the fund, and then divided by the total amount of fund units issued at that time. The subscription and redemption of funds occur every day. Therefore, the net asset value of the fund unit as the basis for trading must be calculated after the daily closing and announced the next day.

The valuation of fund unit net value refers to the estimation of fund net asset value at a certain price. Calculating the net asset value of unit funds is the key, and funds often invest in various investment tools in the securities market, such as stocks and bonds. Because the market price of these assets is constantly changing, only by recalculating the net asset value of the unit fund every day can the investment value of the fund be reflected in time.

The valuation principles of fund assets are as follows:

1. Listed stocks and bonds are calculated according to the closing price on the calculation day. If there is no transaction on that day, it shall be calculated according to the closing price of the latest trading day.

2. Unlisted stocks are calculated at cost price.

3. Unlisted government bonds and unexpired time deposits are calculated according to the accrued interest plus principal on the valuation date.

4. In case of special circumstances, if it is impossible or inappropriate to determine the asset value in accordance with the above provisions, the fund manager shall handle it in accordance with the relevant provisions of the state.