Core Viewpoint - Recently, Jiashi Fund Management Co., Ltd. has issued a warning regarding the significant premium of its exchange-traded funds (ETFs) in the secondary market, urging investors to be cautious of the associated risks [1][5][7]. Group 1: Jiashi Fund Management Announcements - Jiashi Fund Management has highlighted that the Jiashi S&P Oil and Gas Exploration and Production Select Industry ETF (QDII) has been trading at a price significantly above its reference net asset value [1]. - The company has the right to apply for temporary trading suspension on the Shenzhen Stock Exchange if the premium does not effectively decrease by February 25, 2026 [1][5][7]. - The fund management emphasizes that the trading price in the secondary market is influenced by various factors, including market supply and demand, systemic risks, and liquidity risks, which may lead to potential losses for investors [1][6][7]. Group 2: Fund Operations and Risk Management - The fund management asserts that the fund is currently operating normally and there are no undisclosed significant information [1][6][8]. - The company has decided to suspend subscription services starting from February 3, 2026, with the specific time for resuming these services to be announced later [8]. - Investors are advised to read the fund contract and prospectus carefully before investing, as the management cannot guarantee profits or minimum returns [6][8].

Group 1 - The company, Jiashi Fund Management Co., Ltd., has decided to suspend the subscription (including conversion and regular investment) of the Jiashi Zhongzheng Interbank Certificate of Deposit AAA Index 7-Day Holding Period Securities Investment Fund starting from February 12, 2026 [2] - The subscription services will resume on February 24, 2026, with a limit of 2 million yuan for single investors per day [2] - The company will continue to process redemption and conversion out services during the suspension period [2] Group 2 - Jiashi Fund Management Co., Ltd. will also suspend the subscription (including conversion) of the Jiashi Zhongzheng 3-5 Year National Development Bank Bond Index Securities Investment Fund from February 12, 2026 [4] - The subscription services for this fund will also resume on February 24, 2026 [4] - Redemption and conversion out services will remain available during the suspension period [4] Group 3 - The company will suspend the subscription (including conversion and regular investment) of the Jiashi Zhihua Pure Bond Securities Investment Fund starting from February 12, 2026 [5] - The subscription services will resume on February 24, 2026, with a limit of 1 million yuan for individual investors per day [5][7] - Redemption and conversion out services will continue during the suspension period [5] Group 4 - Jiashi Fund Management Co., Ltd. will suspend the subscription (including conversion and regular investment) of the Jiashi Wenzhun Pure Bond Securities Investment Fund starting from February 12, 2026 [6] - The subscription services will resume on February 24, 2026 [6] - Redemption and conversion out services will be available during the suspension period [6] Group 5 - The Jiashi Nasdaq 100 Exchange-Traded Fund (QDII) is experiencing a significant premium in its secondary market trading price compared to the reference net asset value [8] - Investors are advised to be cautious of the premium risk associated with this fund [8] - If the premium does not decrease effectively, the fund has the right to apply for temporary trading suspension on the Shenzhen Stock Exchange [8]

Group 1 - The fund management company, Jiashi Fund Management Co., Ltd., announced the resumption of daily redemption services for the Jiashi Nasdaq 100 Exchange-Traded Fund (ETF) starting from February 12, 2026 [2] - The company suspended subscription services for the fund on February 3, 2026, to ensure stable operations and protect the interests of fund shareholders [2] - The fund has recently experienced a significant premium in its secondary market trading price compared to its reference net asset value, prompting the company to warn investors about the associated risks [2][3] Group 2 - The fund is classified as an exchange-traded open-end fund, allowing investors to trade on the secondary market or subscribe and redeem shares [3] - The company confirmed that the fund is operating normally and there are no undisclosed significant information as of now [3] - The fund management company emphasizes that while it will manage the fund assets with diligence and integrity, it does not guarantee profits or minimum returns for investors [3]

Group 1 - The fund manager, Jiashi Fund Management Co., Ltd., has decided to adjust the subscription limits for individual and institutional investors starting from February 6, 2026. Individual investors are limited to a maximum subscription amount of 100 million yuan per open day, while institutional investors are limited to 10 million yuan [2][3][6]. - During the implementation of the subscription limits, the fund manager will continue to process redemption requests normally. The specific time for resuming normal subscription operations will be announced separately [2][3][6]. - Investors can contact Jiashi Fund Management Co., Ltd. customer service at 400-600-8800 or visit the website www.jsfund.cn for further information [2][3][7]. Group 2 - The Jiashi Nasdaq 100 Exchange-Traded Fund (ETF) has recently seen its secondary market trading price exceed the reference net asset value, indicating a significant premium. Investors are advised to be aware of the premium risk associated with secondary market trading [4]. - If the premium on the secondary market trading price does not effectively decrease by February 6, 2026, the fund may apply for temporary trading suspension on the Shenzhen Stock Exchange to warn the market of the risks [4]. - The fund manager assures that the fund is operating normally and has no undisclosed significant information. The fund management will adhere to legal regulations and fund contract provisions [5].

Group 1 - The company will resume daily subscription, redemption, and regular investment for certain funds starting from January 5, 2026, without further announcements [1][2][3][4][5][20][21][22] - There will be restrictions on large subscriptions for these funds, with limits set at 100 RMB for individual accounts on open days, and 15 USD for specific currency accounts [1][2][3][20][22] - Investors can contact the company through their customer service hotline or website for further information [1][2][3][20][21][22] Group 2 - The company has announced the suspension of subscription, redemption, conversion, and regular investment for several funds effective December 31, 2025 [2][15][19][20] - During the suspension period, redemption and conversion out services will continue to operate as usual [2][15][19][20] - Specific funds will have their subscription limits set at 500,000 RMB or 1,000,000 RMB depending on the fund type, with the management retaining the right to refuse excess applications [4][6][18][19] Group 3 - The company has added Dongfang Securities as a liquidity service provider for several exchange-traded funds to enhance market liquidity and stability [8]

Group 1 - The core point of the announcement is that the Jiashi Nasdaq 100 ETF is trading at a significant premium over its reference net asset value, prompting the fund manager to warn investors about the risks associated with this premium [1][2] - The fund manager has the right to apply for a temporary trading suspension if the premium does not effectively decrease by December 25, 2025, to alert the market about the risks [1] - The fund is operating normally and there are no undisclosed significant information as of now, with the fund manager committed to managing the fund assets diligently and transparently [2] Group 2 - The Jiashi Value Discovery Fund is entering a liquidation period starting November 27, 2025, with a full report to be disclosed on December 25, 2025 [5] - The announcement includes details about the fund's operations, including the rights of investors to redeem or subscribe to the fund during specified periods [10][11] - The fund manager emphasizes that the fund's operations are subject to legal regulations and the fund contract, ensuring compliance with disclosure obligations [2][52]

Group 1 - The announcement date for the fund-related updates is December 23, 2025 [1][10] - The fund will suspend subscription and redemption services on December 25, 2025, but secondary market trading will still be available [1][10] - Normal subscription and redemption services will resume on December 26, 2025, without further announcements [1][10] Group 2 - The company has implemented a limit on subscription amounts for the fund, capping individual investors at 10 million yuan per day [5] - The fund management will refuse subscriptions exceeding this limit and will treat applications made outside specified dates as requests for the next open day [5][6] Group 3 - The company has adjusted the valuation method for certain stocks held in its funds, specifically using the "index yield method" for "Zhongwei Company" since December 22, 2025 [7] - The valuation will revert to using the closing price once the stock resumes trading and shows active market characteristics [7]

Group 1 - The fund will have its second open period from December 8, 2025, to January 6, 2026, allowing investors to subscribe and redeem fund shares on each working day during this period [1][2] - The minimum subscription amount for individual investors through online direct sales is set at RMB 1, while for counter subscriptions, it is RMB 20,000 [3][4] - The fund has two classes of shares: Class A, which charges a subscription fee, and Class C, which does not charge any subscription fee [4][5] Group 2 - Redemption requests can be made for partial or full fund shares, with a minimum redemption of 1 share [7] - The redemption fee decreases based on the holding period, with different rates applied for holding periods of less than 30 days, between 30 and 90 days, and between 90 and 180 days [8][9] - The fund management can adjust the redemption limits and fees as per regulations and will announce any changes in advance [10] Group 3 - The fund allows conversions between itself and other open-end funds managed by the same management company [11] - Conversion fees consist of redemption fees from the outgoing fund and any subscription fee differences for the incoming fund [12][13] - Investors must have sufficient shares in their accounts to process conversion requests, which can only be executed on days when both funds are trading [16][19] Group 4 - The fund management company is responsible for disclosing the net asset value of the fund shares on the following day after each open day [33] - The fund is structured as a contractual, periodically open mixed securities investment fund, managed by the company and registered with a designated registration agency [34] - Investors are encouraged to read the fund's prospectus and related documents for detailed information [34]

Group 1 - The core point of the announcement is that the "Jia Shi Value Discovery Three-Month Regular Open Mixed Fund" has triggered the termination clause in its fund contract and will undergo liquidation as per relevant laws and regulations [1][2][3] Group 2 - Basic information about the fund includes its name, abbreviation, code, operation method, effective date of the fund contract, fund manager, and custodian [1] - The fund contract stipulates that if the net asset value falls below 200 million yuan three years after the contract's effective date, the contract will automatically terminate without the need for a meeting of fund shareholders [1][2] - The fund's net asset value fell below 50 million yuan for 50 consecutive working days, leading to the decision to liquidate the fund without a shareholder meeting [2][3] Group 3 - The fund will enter a closed period starting from November 26, 2025, during which no subscription, redemption, or conversion will be processed [3] - The fund management fees and custodian fees will cease once the fund enters the liquidation process [3][4] Group 4 - A liquidation team will be established within 30 working days after the termination event, and it will be responsible for managing the fund's assets during the liquidation process [4][5] - The liquidation process includes asset verification, valuation, and distribution of remaining assets to shareholders based on their shareholding ratio after deducting liquidation costs and taxes [5][7] Group 5 - The liquidation report will be audited by a certified public accountant and will require legal opinions before being submitted to the China Securities Regulatory Commission for record-keeping and public announcement [6][8]

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].