Zhongrong Domestic Demand Value One year Holding Period Hybrid Securities Investment Fund Unit Offering Announcement
2021-06-08 Source: Author:
Important tips
1. The name of the registration approval document for the raising of Zhongrong Domestic Demand Value One year Holding Period Hybrid Securities Investment Fund (hereinafter referred to as "the Fund") is Reply on Approving the Registration of Zhongrong Domestic Demand Value One year Holding Period Hybrid Securities Investment Fund (ZJXK [2020] No. 3453), and the registration date is December 14, 2020. The registration of the Fund raised by the CSRC does not mean that it makes substantive judgments or guarantees on the investment value, market prospects and returns of the Fund, nor does it mean that there is no risk in investing in the Fund.
2. The Fund is a hybrid securities investment fund, and its operation mode is contractual and open-ended.
3. Classification of fund units: The fund units are divided into A and C types according to the different collection methods of subscription fees, subscription fees and sales service fees. Among them, Class A fund units are fund units for which front-end subscription and purchase fees are charged when investors subscribe and purchase funds, and sales service fees are not withdrawn from the net asset value of this type of fund; Class C fund units refer to the fund units for which the sales service fee is withdrawn from the net asset value of the fund of this category and no subscription and subscription fees are charged. The setting and level of relevant rates are listed in the prospectus.
Fund codes are set for Class A fund units and Class C fund units of the Fund. Due to different fund fees, the net value of fund units will be calculated and announced separately for Class A fund units and Class C fund units of the Fund.
Investors can choose the type of fund units to subscribe/subscribe for at their own discretion. No mutual conversion is allowed between different fund unit classes of the Fund.
4. The manager of the Fund is China Financial Fund Management Co., Ltd. (hereinafter referred to as "the Company").
5. The custodian of the Fund is China Construction Bank Co., Ltd.
6. The fund share registration authority of the Fund is China Financial Fund Management Co., Ltd.
7. From June 11, 2021 to September 10, 2021, the Fund will be sold through the sales agency designated by the Fund Manager. The Fund Manager may adjust the raising period of the Fund appropriately according to the raising situation and make a timely announcement.
8. The offering objects of the Fund are individual investors, institutional investors, qualified foreign institutional investors and RMB qualified foreign institutional investors who can invest in securities investment funds in accordance with laws and regulations, as well as other investors allowed by laws and regulations or the CSRC to purchase securities investment funds.
9. The upper limit for raising funds during the raising period of the Fund is 5 billion yuan (excluding the interest during the raising period, the same below). If the raising scale reaches 5 billion yuan during the raising process, the Fund will end the raising in advance. If the cumulative subscription application amount exceeds 5 billion yuan after the deadline of raising on any day (including the first day) within the raising period, the fund manager will adopt the method of confirming the proportion of the last day to achieve effective control of the scale. The unconfirmed part of the subscription money will be returned to the investor after the end of the offering period, and the resulting losses such as interest shall be borne by the investor.
10. Investors who wish to purchase the Fund shall open an open-ended fund account of the Company (hereinafter referred to as the "Fund Account"). The institutions that handle the business of registered fund accounts are the direct selling institutions of the Fund and the sales outlets of other sales institutions. Investors shall not illegally use other people's accounts or funds to subscribe, nor shall they raise funds in violation of regulations or help others to subscribe in violation of regulations. An investor may subscribe at all outlets where the Fund is sold by virtue of the fund account. Investors can subscribe on the day of account opening, but if the account opening is invalid, the subscription application is also invalid.
11. Subscription is applied by amount. When subscribing, the investor shall pay in full in the way specified by the sales agency. During the fund raising period, the investor may subscribe for fund units for many times, and the subscription fee shall be calculated separately for each subscription application. Once the subscription application is accepted, it cannot be revoked.
When subscribing the Fund through the fund manager's direct selling institution or online trading platform, the minimum amount for the first single subscription is 1 yuan, and the minimum amount for a single additional subscription is 1 yuan. Each subscription amount of each fund account of other sales institutions shall not be less than 1 yuan. If other sales institutions have other provisions, their provisions shall prevail.
12. The acceptance of the subscription application by the sales agency does not mean that the application must take effect, but only means that the sales agency has actually received the subscription application. The confirmation of the subscription application shall be subject to the confirmation result of the registration authority. The selling institution shall timely inform the investors of the name of the fund it subscribes to, the confirmation date, the confirmed unit and the amount of the fund units and other information. For subscription application and confirmation of subscription shares, investors shall timely inquire and properly exercise their legal rights.
13. This announcement only explains the relevant matters and regulations of the Fund's raising. Investors who want to know the details of the Fund, please read the Prospectus of China Financial One year Holding Period Hybrid Securities Investment Fund.
14. See the relevant business announcements of each sales institution for the relevant information on the sale of the Fund by non direct selling institutions.
15. During the raising period, in addition to the sales agencies listed in this announcement, if there is any adjustment of the sales agencies, the Company will timely publish it on the administrator's website.
16. For investors in regions without sales outlets, please call our customer service hotline (400 160 6000 or 010-56517299) for details.
17. The Fund Manager may make appropriate adjustments to the fund raising arrangements in accordance with the law in light of various circumstances.
18. Risk Tips
The Fund invests in the securities market, and the net value of the Fund will fluctuate due to the fluctuation of the securities market and other factors. The investors will enjoy the fund income according to the fund shares they hold, and bear the corresponding investment risks. Before investing in the Fund, investors need to fully understand the product characteristics of the Fund and bear various risks arising from the Fund's investment, including market risk, credit risk, liquidity risk, operational risk, management risk, compliance risk, and the unique risks of the Fund. The Fund is a hybrid securities investment fund, whose long-term average expected risk and expected return are lower than those of equity funds and higher than those of money market funds and bond funds. There are risks in investment. Before making investment decisions, investors should carefully read the fund contract, prospectus, fund product information summary and other information disclosure documents of the Fund, independently judge the investment value of the Fund, make investment decisions and bear investment risks.
In addition to investing in high-quality enterprises in the A-share market, the Fund can also invest in stocks listed on the Stock Exchange of Hong Kong within the scope of laws and regulations. In addition to undertaking general investment risks such as market fluctuation risks similar to domestic securities investment funds, the Fund will also face unique risks arising from differences in investment environment, investment objects, market systems and trading rules under the Hong Kong Stock Connect mechanism, Including the risk of large fluctuations in the stock price of the Hong Kong stock market (the Hong Kong stock market implements T+0 reverse trading, and there is no limit on the rise and fall of individual stocks, and the Hong Kong stock price may show more drastic fluctuations than the A-share price), exchange rate risk (exchange rate fluctuations may cause losses to the investment income of the Fund) The risks that may be brought about by the discontinuity of trading days under the Hong Kong Stock Connect mechanism (in the case of the opening of the mainland market and the closing of the Hong Kong market, the Hong Kong Stock Connect cannot be traded normally, and Hong Kong shares cannot be sold in time, which may bring some liquidity risks). Please refer to the specific contents of the risk disclosure section of this prospectus for specific risks.
The Fund may choose to invest part of the Fund's assets in Hong Kong stocks or not to invest the Fund's assets in Hong Kong stocks according to the needs of its investment strategy or the changes in the market environment of different allocation places. The Fund's assets are not necessarily invested in Hong Kong stocks.
The Fund's investment in asset-backed securities, mainly including asset-backed securities (ABS), mortgage-backed securities (MBS) and other securities, is a financial instrument of bond nature. The principal and interest paid to investors come from the cash flow or residual equity generated by the underlying asset pool. Unlike stocks and general bonds, asset-backed securities are not claims to the interests of a certain operating entity, but claims to the cash flow and residual equity generated by the underlying asset pool. They are securities backed by asset credit, and the risks they face mainly include transaction structure risks Credit risk caused by the mismatch between the cash flow of the underlying asset pool and the cash flow of the corresponding securities due to various reasons, liquidity risk caused by inactive market transactions, etc.
The Fund may invest in depositary receipts issued and listed domestically in accordance with the law. The net value of the Fund may be affected by the price fluctuation of overseas underlying securities of depositary receipts. Risks related to overseas underlying securities of depositary receipts, issuers of overseas underlying securities, and domestic and overseas trading mechanisms may directly or indirectly become risks of the Fund. Please refer to the "Risk Disclosure" section of this Prospectus for specific risks.
The Fund may choose to invest part of the Fund's assets in depositary receipts or not to invest the Fund's assets in depositary receipts according to the needs of its investment strategy or changes in the market environment. Fund assets are not necessarily invested in depositary receipts.
The Fund sets a minimum holding period of one year for each fund unit. Fund unit holders may not handle redemption and transfer out business in the shortest holding period. The open holding period begins on the next working day (inclusive) after the end date of the shortest holding period, and fund share holders can handle redemption and transfer out businesses.
The fund manager suggests that investors should choose their own fund products according to their own risk return preferences and hold them in the medium and long term.
The Fund Manager shall manage and use the Fund assets in accordance with the principles of due diligence, honesty, prudence and diligence, but does not guarantee that the Fund will be profitable or the minimum return. The past performance of the Fund does not predict its future performance, nor does the performance of other funds managed by the Fund Manager constitute a guarantee for the performance of the Fund.
The Fund Manager reminds investors of the principle of "buyer's responsibility" for fund investment. After investors make investment decisions, investors are responsible for the investment risks caused by changes in the operation status of the fund and the net value of the fund.
1、 Basic information of this offering
（1） Basic information of the fund
Fund name: Zhongrong Domestic Demand Value One year Holding Period Hybrid Securities Investment Fund
Short name of the fund: Zhongrong Domestic Demand Value One Year Holding Hybrid
Fund code: domestic demand value of Zhongrong One year holding hybrid A code: 011440
Domestic demand value of Zhongrong One year holding hybrid C code: 011441
Fund type: hybrid securities investment fund
Duration: indefinite
Operation mode: contractual and open
The Fund sets a minimum holding period of one year for each fund unit. For each fund unit, the shortest holding period is from the effective date of the fund contract (including) (for subscription units), the confirmation date of subscription of fund units (including) (for subscription units) or the confirmation date of transfer in of fund units (for transferred units) to the day before the corresponding day one year later, Fund unit holders may not handle redemption and transfer out business in the shortest holding period. If the corresponding day is not a working day or there is no corresponding day, it shall be postponed to the next working day.
The open holding period begins on the next working day (inclusive) after the end date of the shortest holding period, and fund share holders can handle redemption and transfer out businesses.
（2） Initial par value of fund units (subscription price)
The subscription price of the Fund is 1.00 yuan per fund unit.
（3） Category setting of fund units
According to the different collection methods of subscription fees, subscription fees and sales service fees, the Fund shares are divided into two categories: A and C. Among them, Class A fund units are fund units for which front-end subscription and purchase fees are charged when investors subscribe and purchase funds, and sales service fees are not withdrawn from the net asset value of this type of fund; Class C fund units refer to the fund units for which the sales service fee is withdrawn from the net asset value of the fund of this category and no subscription and subscription fees are charged. The setting and level of relevant rates are listed in the prospectus.
Fund codes are set for Class A fund units and Class C fund units of the Fund. Due to different fund fees, the net value of fund units will be calculated and announced separately for Class A fund units and Class C fund units of the Fund.
Investors can choose the type of fund units to subscribe/subscribe for at their own discretion. No mutual conversion is allowed between different fund unit classes of the Fund.
（4） Target
Individual investors, institutional investors, qualified foreign institutional investors and RMB qualified foreign institutional investors who can invest in securities investment funds in accordance with laws and regulations, and other investors who are permitted by laws and regulations or the CSRC to purchase securities investment funds.
（5） Fund unit selling institution
During the raising period of the Fund, the Fund units will be publicly offered at all outlets of the direct selling institutions and other selling institutions at the same time.
1. Direct selling institution: the direct selling center of Zhongrong Fund Management Co., Ltd.
2. Other sales agencies: For the list of sales agencies, see "VIII. Relevant parties or intermediaries" in this announcement. During the offering period, the Fund Manager may increase or decrease the number of sales agencies of the Fund, and the Manager will publicize them in a timely manner.
（6） Offering schedule
The raising period of the Fund shall not exceed 3 months from the date of sale of the Fund units. The Fund will be raised from June 11, 2021 to September 10, 2021. The Fund Manager may appropriately adjust the time of fund sale within the raising period according to the situation of fund sale, and make an announcement in a timely manner.
2、 Subscription method and relevant regulations
（1） Subscription mode and rate structure
The subscription fees to be paid by investors of Class A fund units are divided into four levels according to the size of the subscription amount, and the subscription rate decreases with the increase of the subscription amount (except for subscriptions that apply the fixed amount rate); Class C fund units of the Fund do not charge subscription fees, but withdraw sales service fees from the fund assets of this class. The specific subscription rate is shown in the table below:
Class A fund shares
Subscription rate of single subscription amount
1.20% below 1 million yuan
RMB 1 million (inclusive) - RMB 3 million 0.80%
3 million yuan (inclusive) - 5 million yuan 0.60%
1000 yuan for each transaction above 5 million yuan (inclusive)
Class C fund share 0
The subscription fees for Class A fund units of the Fund shall be borne by the investors. The fund subscription fee is not included in the fund property and is mainly used for various expenses incurred during the raising period such as the marketing, sales and registration of the fund. Information disclosure fees, accountants' fees, lawyers' fees and other expenses incurred during the raising period shall not be disbursed from the fund assets. If an investor subscribes for Class A fund units of the Fund for many times, the subscription fee shall be calculated at the rate corresponding to the amount of a single subscription.
The subscription price of the Fund is 1.00 yuan per fund unit.
Calculation method of fund subscription units:
1) If the subscription fee applies to the proportional rate:
Net subscription amount=subscription amount/(1+subscription rate)
Subscription fee=subscription amount - net subscription amount
Subscription unit=(net subscription amount+interest during subscription period)/selling face value of fund unit
2) Where the subscription fee applies to a fixed amount:
Subscription fee=fixed amount
Net subscription amount=subscription amount - subscription fee
Subscription unit=(net subscription amount+subscription interest)/selling face value of fund unit
The subscription fee and net subscription amount are in RMB yuan, and the calculation results are rounded to two decimal places; The calculation result of subscription units shall be reserved to two decimal places, and the part after two decimal places shall be rounded off. The loss caused by the error shall be borne by the fund property, and the income generated shall be owned by the fund property.
Example 1: If an investor invests 10000.00 yuan to subscribe for Class A fund shares of the Fund, the corresponding subscription rate is 1.20%. Assuming that the subscription amount generates an interest of 5.00 yuan during the raising period, the fund units available are calculated as follows:
Net subscription amount=10000.00/(1+1.20%)=9881.42 yuan
Subscription fee=10000.00-9881.42=118.58 yuan
Subscription shares=(9881.42+5.00)/1.00=9886.42
That is, the investor invests 10000.00 yuan to subscribe for the Class A fund shares of the Fund. Assuming that the subscription amount will generate interest of 5.00 yuan during the raising period, he will obtain 9886.42 Class A fund shares after the end of the fund sale.
Example 2: An investor invests RMB100000.00 to subscribe for Class C fund shares of the Fund. Assuming that the subscription generates interest of RMB50.00 during the raising period, the subscription shares available to him are:
Subscription shares=(100000.00+50.00)/1.00=100050.00
That is, the investor invests 100000.00 yuan to subscribe for Class C fund shares of the Fund, plus 50.00 yuan of interest earned by the subscription fund during the raising period, and can get 100050.00 Class C fund shares.
（2） Limit on amount of subscription
Subscription is applied in amount. When subscribing, the investor shall pay in full in the way specified by the sales agency. During the fund raising period, the investor may subscribe for fund units for many times, and the subscription fee shall be calculated separately for each subscription application. Once the subscription application is accepted, it cannot be revoked.
When subscribing the Fund through the fund manager's direct selling institution or online trading platform, the minimum amount for the first single subscription is 1 yuan, and the minimum amount for a single additional subscription is 1 yuan. Each subscription amount of each fund account of other sales institutions shall not be less than 1 yuan. If other sales institutions have other provisions, their provisions shall prevail.
The Fund Manager may limit the cumulative subscription amount of a single investor during the offering period. Please refer to the relevant announcement for specific restrictions and handling methods.
It shall be calculated on a consolidated basis according to the various fund units of the Fund. If the cumulative number of fund units subscribed by a single investor of the Fund reaches or exceeds 50% of the total fund units, the Fund Manager may restrict the subscription application of such investor by means of proportion confirmation. If the Fund Manager's acceptance of a certain subscription application or some subscription applications may lead investors to evade the above 50% ratio requirement in disguised form, the Fund Manager has the right to reject all or part of such subscription applications. The number of fund units subscribed by investors shall be subject to the confirmation of the registration authority after the fund contract takes effect.
3、 Account opening and subscription procedures
（1） Individual investors open accounts and subscribe through the electronic trading platform of China Financial Fund
1. Opening a fund account:
Individual investors can open fund accounts through the Company's direct selling electronic trading platform (including online trading, mobile client trading, etc.). When opening accounts, investors need to accept the identity verification method recognized by the Company.
2. Subscription process
(1) Individual investors can subscribe to the Fund by logging in with the account opening certificate number on the day of opening an account through the Company's direct selling electronic trading platform.
(2) Individual investors subscribe to the Fund through the online direct trading system of the Company. Please refer to the Company's website for relevant procedures.
(3) The subscription application submitted after 17:00 on the trading day will be automatically postponed to the next trading day.
（2） Individual investors open accounts and subscribe through the direct sales counter
1. Individual investors need to submit the following materials to open accounts through the direct sales counter:
(1) Account Business Application Form (Individual);
(2) Identity certificate of the applicant, copies of front and back;
(3) A copy of the applicant's bank account information materials (must be a savings card or passbook, not a credit card);
(4) Questionnaire on Risk Tolerance (Individual);
(5) Investor's Equity Notice;
(6) Remote Entrustment Service Agreement;
(7) If it is necessary to register the Zhongdeng Fund account associated with the shareholder's account card, a copy of the certification materials of the securities account shall be provided;
(8) Investors who are only non residents or both Chinese tax residents and tax residents of other countries (regions) must fill in the CRS Individual Tax Resident Status Declaration Document;
(9) To apply for opening a fund account, minors should also provide the following information:
① Applicants who have reached the age of 16 but not the age of 18 and whose main source is their own labor income should provide relevant employment certificates, income certificates, labor relations contracts and other supporting materials.
② Other minors need to provide the following guardian identity documents and fill in the guardian information in the "actual controller" and "agent" of the account business application form:
A. Valid ID card of guardian.
B. Statement on Guardians' Approval of Minors' Investment Behavior.
C. A copy of the Household Register, in which the guardian and the applicant are registered in the same household register, and the guardian and the applicant are "parents and children", and affixed with the special seal for household registration of the local public security bureau.
D. If the household register cannot be provided, or the previous relationship between the guardian and the applicant cannot be effectively stated in the household register, or the relationship between the guardian and the respondent is not "parent and child", one of the following valid certificates that can prove the relationship between guardianship and the respondent shall be provided:
a. Court judgment proving the relationship between guardianship and custody;
b. Medical certificate of the applicant's birth;
c. The original certificate issued by the neighborhood office of the applicant's registered permanent residence certifying the relationship between guardianship and custody (seal);
d. Relevant documents of designated guardianship (if the direct sales counter cannot judge, the Legal Compliance Department can assist in the review).
(10) Foreigners working and living in the mainland, Hong Kong, Macao and Taiwan residents who apply for opening a fund account should work and live in China for one year, and provide copies of residence permit and employment permit, or provide the original of in-service income certificate, tax payment certificate for the last six months, or statements for the last six months of wages issued by the bank on behalf of others;
(11) Where an individual investor entrusts another person to handle business, the power of attorney signed by the investor and the agent shall be provided, and the identity certificates of the investor and the agent shall also be provided.
2. The following materials shall be submitted when subscribing for the Fund products:
(1) Transaction Business Application Form;
(2) Valid transfer voucher or transfer designation shall be provided during the trading hours on the day of application for subscription;
(3) Individual investors need to provide a copy of their valid ID card. If they handle business through remote entrustment, they need to provide a photo of themselves holding the original account opening certificate;
(4) Where an individual investor entrusts another person to handle business, the power of attorney signed by the investor and the agent shall be provided, and the identity certificates of the investor and the agent shall also be provided.
（3） Institutional investors open accounts and subscribe through the direct sales counter
1. When an institutional investor opens a fund account with its own funds or proprietary account, it shall provide the following information and affix its official seal or reserve its seal:
(1) Account Business Application Form (Institution);
(2) Registration Form of Beneficial Owner Information of Non natural Person Customers and relevant business materials;
(3) Copies of business license and other identification documents;
(4) Copy of bank information materials;
(5) Organization Reserved Seal Card, affixed with official seal and corporate seal;
(6) Copy of legal person identity certificate;
(7) Power of Attorney of the Organization;
(8) Copy of the identity certificate of the handler;
(9) Notice on Investors' Rights and Interests;
(10) Questionnaire on Risk Tolerance (Institution);
(11) Remote Entrustment Service Agreement;
(12) Risk Matching Notice and Investor Confirmation Letter;
(13) If the business license has not been issued with three certificates in one, or the institution has opened an account with other types of certificates, the photocopy of the organization code certificate and tax registration certificate shall also be provided;
(14) If it is necessary to register the Zhongdeng Fund account associated with the shareholder's account number, it is also necessary to provide a copy of the certification materials of the securities account;
(15) If a financial institution established with the approval of the relevant financial supervision department acts as an investor, it shall also provide qualification certificates for conducting financial related businesses;
(16) Investors whose tax resident status is a passive non-financial institution need to fill in the CRS Controller's Tax Resident Status Declaration Document; Investors who are both Chinese tax residents and tax residents of other countries (regions) or only non residents need to fill in the CRS Tax Resident Status Declaration Document;
(17) When an institution opens a fund account for the products it manages, in addition to the information required by institutional investors to open an account, it also provides the following information:
① Product Information Form;
② Copy of the product establishment or filing certificate.
2. The following materials shall be submitted when subscribing for the Fund products:
(1) Transaction Business Application Form;
(2) The transfer voucher or transfer instruction shall be provided within the trading time of the day.
（4） Special instructions for handling business at the direct sales counter
1. Processing time of direct sales counter business during subscription period: 9:30-11:30 and 13:00-17:00 on each trading day (not accepted on Saturdays, Sundays and holidays)
2. Before subscribing for the fund, investors shall remit sufficient subscription funds to the direct account designated by the Company by means of remittance and transfer:
ICBC account
Account name: Zhongrong Fund Management Co., Ltd
Bank name: Industrial and Commercial Bank of China Limited Beijing Chaoyang Branch
Bank account: 0200003419027305242
Large amount payment No.: 102100000345
3. When an investor subscribes to the Fund, the amount of money transferred shall not be less than the subscription amount applied for. For direct fund business, we must use our template forms, which can be obtained through our website or the direct sales counter.
4. Precautions
(1) The deadline for acceptance of subscription business at the direct selling counter is 17:00 on the trading day of the fund raising period, unless otherwise specified in the fund contract and prospectus.
(2) When applying for subscription, investors shall transfer sufficient funds into the direct selling account designated by the Company during trading hours, and submit the transfer voucher or instruction to the direct selling counter. If the funds are not fully recorded on the day when the application is submitted, the application will be automatically cancelled. The funds submitted for transfer to the direct sales account do not bear interest. The transfer account of the investor shall be the bank account reserved when opening an account.
(3) At the end of the fund raising period, if the following conditions still exist, the subscription will be deemed invalid:
① The investor transfers the capital, but fails to open an account or fails to open an account;
② The investor transfers the capital, but fails to handle the subscription within the time limit;
③ The capital transferred by the investor is less than the amount of subscription applied for by the investor;
④ Before 17:00 on the closing date of the issuance period, the funds have not reached the direct selling fund account designated by the Company;
⑤ Other invalid funds or subscription failures confirmed by the Company.
(4) Investment tips
Investors subscribing to the Fund may obtain application materials through the Company's website or the direct sales counter, go through formalities and submit relevant materials as required.
（5） Procedures for opening and subscribing accounts through sales agencies
The procedures and procedures for opening accounts and subscription business at each sales agency shall be subject to the regulations of each sales agency.
4、 Clearing and settlement
（1） The interest generated from the effective subscription funds during the raising period will be converted into fund units and owned by the fund unit holders, of which the transfer of interest units shall be subject to the records of the registration authority.
（2） The funds raised during the fund raising period shall be deposited into a special account and shall not be used by anyone before the end of the fund raising.
5、 Refund
（1） After the end of fund issuance, the following circumstances will be deemed as invalid subscriptions:
1. The investor has transferred in the capital, but has not gone through the account opening procedures within the time limit or failed to open the account;
2. The investor who has opened an account has transferred the capital, but has not gone through the subscription procedures within the time limit;
3. The subscription fund transferred by the investor is less than the subscription application amount;
4. The investor's funds arrive at the account later than the stipulated latest account time;
5. Other invalid funds or subscription failures confirmed by the registration authority.
（2） For the invalid subscription fund of the investor, the investor shall fill in the Fund Withdrawal Application Form and apply for transferring the invalid subscription fund to the bank account of the investor.
（3） Raising failure: after the end of the raising period, if the total number of units raised by the Fund is less than 200 million, the amount of funds raised is less than 200 million yuan, or the number of fund unit holders is less than 200, the Fund Contract cannot take effect. All expenses paid by the Fund Manager, the Fund Custodian and the Sales Agency for the Fund raising shall be borne by each party, and the raised funds plus the interest of bank demand deposits for the same period shall be returned to the investors within 30 days after the expiration of the Fund raising period.
6、 Selling expenses
Information disclosure fees, accountants' fees, lawyers' fees and other expenses incurred during the raising period shall not be disbursed from the fund assets.
If the fund raising fails, the fund manager, the fund custodian and the sales institution shall not request remuneration. All expenses paid by the Fund Manager, the Fund Custodian and the Sales Agency for the Fund raising shall be borne by each party.
7、 Capital Verification of the Fund and Effectiveness of the Fund Contract
Within three months from the date of sale of the Fund units, if the total number of units raised by the Fund is not less than 200 million, the amount raised by the Fund is not less than 200 million yuan and the number of subscribers of the Fund is not less than 200, the Fund raising period expires or the Fund Manager may decide to stop the sale of the Fund in accordance with laws, regulations and the prospectus, and employ a statutory capital verification agency to verify the capital within 10 days, Within 10 days from the date of receiving the capital verification report, go through the fund filing procedures with the CSRC. If the fund raising meets the requirements for fund filing, the fund contract shall come into force as of the date when the fund manager completes the fund filing procedures and obtains the written confirmation from the CSRC.
8、 Relevant parties or intermediaries
（1） Fund manager
Name: Zhongrong Fund Management Co., Ltd
Address: 3202, 3203B, Zhongzhou Building, No. 3088, Jintian Road, Gangsha Community, Futian Street, Futian District, Shenzhen
Office address: Room 01, Room 1701, 17th Floor, Building 2, Wangjing Dongyuan Fourth District, Chaoyang District, Beijing
Legal representative: Wang Yao
Tel.: 010-56517000
Fax: 010-56517001
Contact: Xiao Jiaqi
Website: www.zrfunds.com.cn
（2） Fund Custodian
Name: China Construction Bank Corporation
Address: No. 25, Financial Street, Xicheng District, Beijing
Legal representative: Tian Guoli
Time of establishment: September 17, 2004
Organizational form: limited liability company
Registered capital: RMB twenty-five million, eleven million, nine hundred and seventy-seven thousand, four hundred and eighty-six only
Duration: continuous operation
Contact: Zhou Haixin
Tel: (021) 6063 7111
（3） Registration Authority
Name: Zhongrong Fund Management Co., Ltd
Address: 3202, 3203B, Zhongzhou Building, No. 3088, Jintian Road, Gangsha Community, Futian Street, Futian District, Shenzhen
Office address: Floor 17, AVIC Capital Building, No. 2, Wangjing Dongyuan District 4, Chaoyang District, Beijing
Legal representative: Wang Yao
Tel.: 010-56517000
Fax: 010-56517001
Contact: Li Ke
Website: www.zrfunds.com.cn
（4） Fund unit selling institution
1. Direct selling mechanism
(1) Name: Zhongrong Fund Management Co., Ltd. Direct Sales Center
Address: 3202, 3203B, Zhongzhou Building, No. 3088, Jintian Road, Gangsha Community, Futian Street, Futian District, Shenzhen
Office address: Room 01, Room 1701, 17th Floor, Building 2, Wangjing Dongyuan Fourth District, Chaoyang District, Beijing
Legal representative: Wang Yao
Postal code: 100102
Tel: 010-56517002, 010-56517003
Fax: 010-64345889, 010-84568832
Email: zhixiao@zrfunds.com.cn
Contact: Yang Jia, Zhao Min
Website: www.zrfunds.com.cn
(2) Zhongrong Fund Direct Selling Electronic Trading Platform
The fund manager's direct electronic trading methods include online trading, mobile client trading, etc. Investors can handle business through the fund manager's online trading system or mobile client. Please log on to the fund manager's website for specific business handling conditions and business rules.
Website of fund manager direct selling electronic trading platform: https://trade.zrfunds.com.cn/etrading/
2. Other sales organizations
The Fund Manager may, in accordance with the requirements of relevant laws and regulations, increase or change other institutions to sell the Fund, and shall make timely publicity.
（5） Law firm issuing legal opinion and handling lawyer
Name: Shanghai Haihua Yongtai Law Firm
Address: Room 302, Donghongqiao Legal Service Park, Building 2, No. 112, Huayang Road, Shanghai
Office address: 15/F, Block A, Yujing International Business Plaza, 69 Dongfang Road, Shanghai
Person in charge: Feng Jiaqing
Tel.: 021-58773177
Fax: 021-58773268
Contact: Zhang Lan
Handling lawyers: Zhang Lan, Liang Lijin
（6） The accounting firm auditing the fund property and the certified public accountant in charge
Name: Shanghui Certified Public Accountants (Special General Partnership)
Address: 25/F, Wenxin Newspaper Building, No. 755, Weihai Road, Jing'an District, Shanghai
Office address: 25/F, Wenxin Newspaper Building, No. 755, Weihai Road, Jing'an District, Shanghai
Executive partner: Zhang Xiaorong (chief partner)
Tel.: 021-52920000
Fax: 021-52921369
Handling CPA: Chen Dayu, Jiang Jiawei
Contact: Yang Weiping
Zhongrong Fund Management Co., Ltd
June 8, 2021