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Pengyang Pioneer One year Holding Period Hybrid Securities Investment Fund Unit Offering Announcement

2023-02-24 06:12:31

Pengyang Pioneer One year Holding Period Hybrid

Announcement on Sale of Fund Units of Securities Investment Fund

Fund Manager: Pengyang Fund Management Co., Ltd

Fund Custodian: Bank of China Limited

February, 2013

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Important Note 3

1、 Basic Information of this Offering 6

2、 Opening and Subscription Procedures for Investors 9

3、 Clearing and Closing 12

4、 Capital Verification of the Fund and Effectiveness of the Fund Contract 12

5、 Parties or intermediaries of this offering 13

Important tips

1. Pengyang Enterprising Pioneer one-year holding period hybrid securities investment fund (hereinafter referred to as the Fund) has been approved for registration by the CSRC in ZJXK [2022] No. 1987 on September 1, 2022.

2. The Fund is a contractual, open-ended and hybrid securities investment fund.

The holding period defined by the Fund is 365 days.

The Fund is open for subscription every open day, but investors must hold at least 365 days of fund units transferred from each subscription/subscription/conversion. For each fund unit, the holding period refers to 365 days from the effective date of the fund contract (for subscription units, the same below), the date of confirmation of the application for subscription of fund units (for subscription units, the same below), or the date of confirmation of the transfer of fund units (for transferred units, the same below). The Fund Manager will not confirm the redemption application or transfer out application of fund units held for less than the holding period.

3. The fund manager and registration authority of the Fund is Pengyang Fund Management Co., Ltd. (hereinafter referred to as the Company), and the fund custodian is Bank of China Limited.

4. The raising objects of the Fund are individual investors, institutional investors, qualified foreign 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. The Fund will be offered to the public through fund share issuing institutions from February 28, 2023 to May 27, 2023. The raising period of the Fund shall not exceed 3 months, which shall be calculated from the date of the sale of the Fund units. The Company may also appropriately extend or shorten the time of fund sale within the raising period according to the fund sale situation, and make an announcement in a timely manner.

6. The fund unit selling institutions of the Fund include the direct selling institutions of the Company and the selling agencies designated by the Company. See "V (III) Fund unit selling institutions" in this announcement for details. The outlets, date, time and procedures for fund unit selling institutions to handle the fund account opening, subscription and other businesses shall refer to the specific provisions of each fund unit selling institution.

7. The upper limit of the Fund's initial offering size is 6 billion yuan (excluding the interest during the offering period, and the Class A shares and Class C shares are calculated together, the same below). If the subscription scale of investors in the raising period exceeds the upper limit of the raising scale, the fund manager will control the raising scale by means of last day proportional allotment.

On any day during the raising period (including the first day of the raising period), if the cumulative amount of effective subscription applications exceeds 6 billion yuan after the raising deadline on that day, the fund manager will adopt the method of confirming the proportion of the last day to achieve effective control of the scale. When the end day proportion confirmation occurs, the fund manager will timely announce the proportion confirmation and results.

In case of partial confirmation, the subscription rate of investors shall be calculated according to the rate corresponding to the confirmed amount of subscription application. The confirmed amount of subscription application on the last day is not limited by the minimum amount of subscription. The final confirmation result of subscription application shall be subject to the result calculated and confirmed by the fund registration and clearing institution. The unconfirmed part of the subscription funds will be returned to the investors after the end of the raising period, and the resulting losses such as interest shall be borne by the investors themselves. Please note that if the subscription confirmation method of "last day proportion confirmation" is adopted, the subscription confirmation amount on the last day of the raising period will be lower than the subscription application amount, and the rate corresponding to the subscription confirmation amount may be higher than the rate corresponding to the subscription application amount.

8. When subscribing for the Fund for the first time, investors shall apply for opening the fund account of the Company and the trading account of the sales institution in accordance with the provisions of the fund unit selling institution. Unless otherwise specified by laws and regulations, an investor can only open and use one fund account, and investors who have already opened a fund account of the Company may be exempted from applying for opening a fund account.

The investor shall ensure that the source of capital used for subscription is legal, and the investor shall have the right to dispose of it by itself, without any legal, contractual or other obstacles. If the ID card or ID certificate submitted by the investor has expired, please go through relevant updating procedures in time to avoid affecting the subscription.

9. The Fund classifies fund units into Class A and Class C fund units according to the different collection methods of subscription fees, subscription fees and sales service fees: those that charge subscription/subscription fees when investors subscribe/subscribe and do not withdraw sales service fees from fund assets of this category are called Class A fund units, and those that do not charge subscription/subscription fees when investors subscribe/subscribe are called Class A fund units, However, if the sales service fee is withdrawn from the fund assets of this category, it is called Class C fund shares.

10. The subscription of the Fund is applied by amount. The initial par value of each Class A and Class C fund unit of the Fund is RMB 1.00, and the subscription price is RMB 1.00. When subscribing for fund units, investors shall pay the subscription amount in full in the manner prescribed by the fund unit issuing institution. Investors may subscribe for the Fund units for many times, and there is no upper limit for the cumulative subscription amount. After the acceptance of the subscription application is completed, the investor may not revoke it.

11. The acceptance of the subscription application by the sales outlet of the fund unit selling institution does not mean the successful confirmation of the application, but only means that the sales outlet has actually received the subscription application. Whether the application is successful or not shall be subject to the confirmation of the registration authority. After the fund contract comes into effect, investors should inquire about the final confirmation and effective subscription units at the sales outlets where they handle subscription business. The fund manager and the fund unit issuing institution shall not be obliged to notify the confirmation results, and the investors themselves shall actively inquire about the confirmation results of the subscription application.

12. This announcement only explains the relevant matters and regulations of the Fund's offering. For details of the Fund, please read the Prospectus of Pengyang Pioneer One year Holding Hybrid Securities Investment Fund in detail. The prospectus and this announcement of the Fund will be published on the Company's website at the same time. If investors have any questions, they can call our customer service telephone (400-968-6688) and the customer service telephone of each offering agency.

13. Risk warning

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.

The risks in the Fund's investment include: market risk, management risk, liquidity risk, operational and technical risk, compliance risk, risk of termination of the Fund Manager's duties, unique risks of the Fund and other risks.

The Fund is a hybrid fund with higher risks and returns than bond funds and money market funds and lower risks and returns than equity funds.

The Fund sets a holding period of 365 days for each fund unit transferred by subscription/subscription/conversion. The Fund Manager will not confirm the application for redemption or transfer out of fund units held for less than the holding period.

The Fund may choose to invest some of its assets in stocks listed on the Stock Exchange of Hong Kong (hereinafter referred to as "Hong Kong Stock Connect") within the prescribed scope of trading under the trading interconnection mechanism between the mainland and Hong Kong stock markets, or choose not to invest its assets in Hong Kong Stock Connect, according to the needs of its investment strategy or the changes in the market environment of different allocation places, Fund assets are not necessarily invested in Hong Kong stocks. Investing in stocks of Hong Kong Stock Connect may expose the Fund to unique risks arising from differences in the investment environment, investment targets, market systems and trading rules under the Hong Kong Stock Connect trading mechanism, Including but not limited to: 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). See the "Risk Disclosure" section of the Prospectus for details.

The Fund may invest in depositary receipts. If it invests in depositary receipts, the net value of the Fund may be affected by the price fluctuation of overseas underlying securities of depositary receipts. The risks related to overseas underlying securities of depositary receipts, the issuance mechanism and trading mechanism of depositary receipts and other related risks may directly or indirectly become the risks of the Fund.

The Fund can invest in stock index futures and treasury bond futures. If it invests, the futures will adopt the margin trading system. Because the margin trading is leveraged, when an adverse market situation occurs, minor changes in the relevant market may cause greater losses to investors' rights and interests. Futures adopt the daily debt free settlement system. If the margin is not replenished within the specified time, the position will be forced to be closed as required, which may cause significant losses to the investment. The Fund may invest in stock options. If it invests, it may face risks including but not limited to liquidity risk, price risk, operational risk, etc., which may cause significant losses to the investment. See the "Risk Disclosure" section of the Prospectus for details. In order to hedge credit risk, the Fund may invest in credit derivatives. If it invests in credit derivatives, it may face liquidity risk, repayment risk and price fluctuation risk. See the "Risk Disclosure" section of the Prospectus for details.

The Fund may invest in asset-backed securities. If it invests, asset-backed securities may face credit risk, interest rate risk, liquidity risk, prepayment risk, operational risk and legal risk, which may increase the volatility of the Fund's net value.

There are risks in investment. Before investing in the Fund, investors should carefully read the Prospectus and Fund Contract of the Fund, fully understand the risk return characteristics and product characteristics of the Fund, fully consider their own risk tolerance, rationally judge the market, and prudently make investment decisions.

14. The Company may make appropriate adjustments to the offering arrangements in light of various circumstances. The Company has the final right to interpret the announcement of the sale of the Fund units.

1、 Basic information of this offering

（1） Basic information of the fund

Fund name: Pengyang Pioneer One year Holding Period Hybrid Securities Investment Fund

Fund code: 016735 (Class A), 016736 (Class C)

Operation mode: contractual and open

Fund type: hybrid securities investment fund

Duration: indefinite

（2） Category setting of fund units

The Fund divides the Fund units into Class A and Class C Fund units according to the different collection methods of subscription fees/subscription fees and sales service fees. If the investor collects the subscription/subscription fee when subscribing/subscribing, but does not withdraw the sales service fee from the fund assets of this category, it is called Class A fund shares. If investors do not charge subscription/subscription fees when subscribing/subscribing, but withdraw sales service fees from the fund assets of this category, they are called Class C fund shares. Investors can choose the type of fund units to subscribe or subscribe for at their own discretion.

Fund codes are set for different types of fund units of the Fund, and the net value of each type of fund unit and the cumulative net value of each type of fund unit are calculated and announced respectively.

（3） Initial par value and selling price of fund units

The initial par value of each Class A and Class C fund unit of the Fund is RMB 1.00, and the subscription price is RMB 1.00.

（4） Target

Individual investors, institutional investors, qualified foreign 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. The specific offering objects shall be subject to the prospectus, the fund unit offering announcement or relevant announcements.

（5） Fund unit selling institution

For the direct selling institutions of the Company and the selling agencies designated by the Company, see "V (III) Fund unit selling institutions" in this announcement.

（6） Offering schedule

The raising period of the Fund shall not exceed 3 months, which shall be calculated from the date of the sale of the Fund units.

The Fund will be sold from February 28, 2023 to May 27, 2023. If the conditions for fund filing specified in the Prospectus of the Fund are not met during this offering period, the Fund may continue to be sold during the offering period until the conditions for fund filing are met. The Fund Manager may appropriately extend or shorten the raising time during the offering period according to the subscription situation, and make an announcement in a timely manner. In addition, in case of emergencies, the arrangement of the above fund raising period can also be properly adjusted.

（7） Way of sale

1. The subscription of the Fund is applied by amount. When an investor subscribes for the Fund units, he/she shall pay the subscription amount in full in the manner specified by the fund unit issuer.

During the fund raising period, the minimum amount of initial subscription and additional subscription of the Fund units by investors through the fund manager's direct selling electronic trading platform (currently only available to individual investors) is 10 yuan; The minimum amount for an investor to subscribe for the Fund units for the first time through the direct selling counter of the Fund Manager is RMB 50000, and the minimum amount for additional purchase of the Fund units is RMB 10.

If the sales institutions have other regulations on the minimum subscription limit and transaction level difference, the business regulations of the sales institutions shall prevail.

If each sales institution does not stipulate the minimum subscription limit and transaction level difference, the minimum limit of a single initial subscription and additional subscription is 10 yuan.

2. When an investor subscribes for the Fund for the first time, if he/she has not yet opened the Fund Account of the Company, he/she shall apply for opening the Fund Account of the Company and the Trading Account of the Fund Unit Offering Institution in accordance with the provisions of the Fund Unit Offering Institution. Account opening and subscription application can be handled at the same time and completed at one time, but the confirmation of subscription application must be based on the success of account opening confirmation. An investor who has opened a fund account of the Company does not need to open a fund account of the Company again when purchasing the Fund at the outlet of the original account opening institution. When purchasing the Fund at the outlet of a new fund unit selling institution, the investor can handle the business of opening an additional trading account.

（8） Subscription fee

1. Class A fund units of the Fund will be charged a subscription fee at the time of subscription. The maximum subscription rate will not exceed 1.20% and will decrease with the increase of the subscription amount. There is no subscription fee for Class C fund units of the Fund.

For Class A fund units, the Fund implements different subscription rates for pension customers subscribed by the direct sales counter and non pension customers except for them. Pension clients refer to the national social security fund, legally established basic pension insurance fund, local social security fund that can invest in funds, enterprise annuity single plan and collective plan, specific client asset management plan, enterprise annual pension product, occupational pension plan Pension security management products and other pension customers who can invest in funds. If there are new pension fund types recognized by the pension fund supervision department, such as housing provident fund that can be invested in the fund, personal pension account that can enjoy tax preference, the fund manager can include them in the scope of pension customers.

The subscription rate of Class A fund units of the Fund is shown in the following table:

Subscription amount (M) Subscription rate for non pension customers Subscription rate for pension customers

(Through direct sales counter)

M ＜ 1 million 1.20% 0.12%

1 million ≤ M ＜ 5 million 0.60% 0.06%

M ≥ 5 million RMB 1000 per transaction RMB 1000 per transaction

The Fund may offer preferential rates to investors who subscribe to the Fund through the Fund Manager's direct selling electronic trading platform. For details, please refer to the relevant announcements issued by the Fund Manager at that time.

2. The subscription expenses of the Fund are not included in the Fund property, and are mainly used for various expenses incurred during the raising period such as the marketing, sales and registration of the Fund. The insufficient part is disbursed from the operating costs of the Fund Manager.

3. If the investor subscribes for many times, he/she shall be charged separately according to the corresponding rate level of each subscription, that is, the subscription fee shall be calculated separately according to each subscription application.

（9） Calculation of subscribed shares

(1) Fund subscription shall be in the form of "amount subscription and share confirmation". The subscription amount of the Fund includes the subscription fee and the net subscription amount. The calculation result of subscription units shall be kept to two decimal places, and the part after two decimal places shall be rounded off, and the resulting error shall be included in the fund assets.

(2) Treatment of interest during the raising period

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 specific amount of interest transferred into units shall be subject to the records of the registration authority.

(3) Calculation formula and examples of subscribed shares

When the subscription fee corresponding to the subscription application of the investor is applicable to the proportional rate, the calculation formula of its subscription share is:

Net subscription amount=subscription amount ÷ (1+subscription rate)

Subscription fee=subscription amount - net subscription amount

Subscription units=(net subscription amount+subscription interest) ÷ initial face value of fund units

When the subscription fee corresponding to the investor's subscription application applies to a fixed amount, the formula for calculating the subscription share is:

Net subscription amount=subscription amount - subscription fee

Subscription fee=fixed amount

Subscription units=(net subscription amount+subscription interest) ÷ initial face value of fund units

For example, if an investor invests 100000 yuan to subscribe for the Fund, assuming that the interest during the subscription period is 100 yuan, the fund shares that the investor can obtain by subscribing are:

Subscription 1 Subscription 2 Subscription 3

Type of investor Non pension customer Pension customer-

Type of subscribed fund units Class A Class A Class C

Subscription amount (yuan, a） 100,000.00 100,000.00 100,000.00

Applicable subscription rate (b) 1.20% 0.12% 0

Net subscription amount (yuan, c=a ÷ (1+b)) 98814.23 99880.14 100000.00

Subscription fee (yuan, d=a-c） 1,185.77 119.86 0

Net value of such fund units (yuan, e) 1.00 1.00 1.00

Interest during subscription period (yuan, f） 100.00 100.00 100.00

Subscription shares (shares, g=(c+f) ÷ e) 98914.23 99980.14 100100.00

For example: an investor invests 5 million yuan to subscribe for the Fund. Assuming that the interest during the subscription period is 5000 yuan, the fund shares that can be obtained by the investor when subscribing are:

Subscription1 Subscription2

Investor type --

Type of subscribed fund units Class A Class C

Subscription amount (yuan, a） 5,000,000.00 5,000,000.00

Subscription fee (yuan, b) 1000.00 0

Net subscription amount (yuan, c=a-b） 4,999,000.00 5,000,000.00

Net value of such fund units (yuan, e) 1.00 1.00

Interest during subscription period (yuan, f） 5,000.00 5,000.00

Subscription shares (shares, g=(c+f) ÷ e) 5004000.00 5005000.00

2、 Investor's account opening and subscription procedures

（1） Procedures for Direct Selling Agency Business

1. Business handling time

(1) The Company's direct sales counter business is handled from 9:00 to 17:00 on the fund sale day (Saturday, Sunday and statutory holidays are not accepted).

(2) The business processing time of the Company's direct sale electronic trading platform is: all day long on the fund sale date (except the last day of fund sale); The deadline of the last day of fund sale is 15:00 of the day (Saturday, Sunday and legal holidays are not accepted).

2. Requirements for investors to open accounts at the Company's direct sales counter

(1) Individual investors should provide the following information:

① The original of my valid ID card (ID card, residence booklet, police officer card, civil service card, Hong Kong and Macao residents' Mainland travel pass, Taiwan compatriot card, passport, etc.). In case of entrustment, the original identity documents of both parties and the original power of attorney signed by the trustor shall be provided.

② My bank card or savings passbook.

③ Completed Account Opening Application Form (Individual).

④ Risk tolerance questionnaire.

⑤ Individual tax resident status declaration document.

⑥ Other relevant materials required by the Company's direct sales counter.

(2) Institutional investors should provide the following information:

① The completed Account Opening Application Form (Institution) affixed with the official seal of the company.

② Original (duplicate) of business license or registration certificate, original or stamped organization code certificate and tax registration certificate

Copy of official seal; The original of qualification certificate for conducting financial related business or the copy with official seal affixed (provided by financial institutions).

③ The original of the ID card of the legal person or person in charge or the copy with the official seal of the unit affixed.

④ The original of the bank account opening license or the certificate issued by the bank for the deposit account opened by the institutional investor in the bank or the copy with the official seal of the unit affixed.

⑤ Power of attorney for fund business (the standard text of the company must be stamped with the official seal of the company and the seal of the legal representative or authorized person).

⑥ The original of the ID card of the authorized person (i.e. the business operator) or the copy with the official seal of the unit affixed.

⑦ Seal Card (in triplicate).

⑧ Fax Transaction Agreement (in duplicate) shall be signed if fax transaction is opened.

⑨ Declaration of tax resident status of the institution.

⑩ Other relevant materials required by the Company's direct sales counter.

3. Investors handle subscription business at the direct sales counter of the Company

(1) For individual investors to handle subscription business, please provide the following information:

① My valid ID card.

② Payment voucher of the investor, including remittance or deposit voucher.

③ Completed Transaction Business Application Form.

(2) For institutional investors to handle subscription business, please provide the following information:

① Valid ID card of the business operator.

② Remittance voucher.

③ The Transaction Business Application Form duly completed and sealed.

4. Direct sale fund transfer account of the Company

To subscribe for the Fund, an investor shall remit the full amount of the subscription capital to any of the following special accounts for direct selling funds of the Company during the raising period:

(1) CCB account: