关于嘉实国证通信交易型开放式指数证券投资基金流动性服务商终止的公告

Core Viewpoint - The announcement highlights the termination of liquidity services for the Jiashi National Communication ETF and the potential termination of the Jiashi Pension Target Date 2055 Fund if its net asset value falls below 200 million RMB by November 21, 2025 [1][3][6]. Group 1: Fund Termination and Liquidity Services - Jiashi Securities will cease providing liquidity services for the Jiashi National Communication ETF (code: 159695) starting November 20, 2025 [1]. - The Jiashi Pension Target Date 2055 Fund may trigger contract termination if its net asset value is below 200 million RMB by November 21, 2025, as per the fund contract [5][6]. - The fund's contract became effective on November 21, 2022, and has a five-year lock-up period for subscriptions [4][5]. Group 2: Fund Management and Operations - The fund management company is Jiashi Fund Management Co., Ltd., with the custodian being Bank of Communications Co., Ltd. [5]. - The fund has suspended subscription and regular investment services since November 14, 2025, and will enter liquidation if the termination condition is met [6][7]. - Investors will not be able to redeem or subscribe to the fund once it enters the liquidation process [7]. Group 3: Market Conditions and Risks - The Jiashi Nasdaq 100 ETF has been trading at a significant premium over its net asset value, prompting the fund management to warn investors about potential risks [11]. - The fund management emphasizes that market supply and demand, systemic risks, and liquidity risks can affect the trading price of the fund [11].