Core Viewpoint - The Wanjiadongjian Progressive Mixed Initiation Securities Investment Fund will undergo liquidation due to its net asset value falling below 200 million yuan by the end of the three-year contract period, which is set to end on December 23, 2025 [1] Fund Operation and Liquidation - The fund's contract became effective on December 23, 2022, and will operate normally until December 23, 2025 [1] - If the fund's net asset value is below 200 million yuan on the corresponding annual date three years after the contract's effective date, the contract will automatically terminate [1] - The last operational day for the fund is December 23, 2025, and it will enter the liquidation process starting December 24, 2025 [1] Fund Performance - As of December 31, 2025, the cumulative net asset values for Wanjiadongjian Progressive Mixed Initiation A/C are 0.8395 yuan and 0.8271 yuan, with cumulative returns of -16.05% and -17.29% respectively [1] - The fund has experienced a year-to-date decline of -7.42% and a one-year return of -7.42% [3] - Compared to the average return of similar funds at 33.12%, the fund's performance has been significantly lower [3] Fund Management - The fund is managed by Liu Linfeng, who has a background in investment analysis and has worked with various financial institutions before joining Wanjiad Fund Management in March 2016 [2][3]

Group 1 - The core point of the news is that the Wanjiadongjian Growth Mixed Fund may trigger termination conditions if its net asset value falls below 200 million yuan by December 23, 2025, as per the fund contract [1][2] - The fund's contract became effective on December 23, 2022, and the termination condition is set to be evaluated three years later on December 23, 2025 [2] - If the fund contract is terminated, the fund manager will establish a liquidation team to handle the fund's assets according to legal regulations and the fund contract [3] Group 2 - The fund management company has announced a temporary suspension of large subscriptions (including conversions and regular investment) starting December 22, 2025, with a limit of 1 million yuan per day for each account [5][6] - During the suspension period, redemption and conversion transactions will continue to be processed normally [6] - The company emphasizes that it manages the fund assets with diligence and integrity but does not guarantee profits or minimum returns [4][6]