Dear fund investors:

Fund investment involves risks while delivering returns. In order to protect your legitimate rights and interests, please read the following content carefully before investing in fund:

I. Fundamentals of Fund

(i) What is Fund

Securities Investment Fund (referred to as Fund) refers to the offering of fund shares, by which the money of a number of investors will be pooled to form an independent financial vehicle safekept by custodians and managed by fund managers to invest in securities in an collective approach to share interests and risks in a portfolio.

(ii) Differences between funds and other financial instruments such as stocks, bonds and bank deposits

(iii) Classification of Funds

1. Based on the different modes of operation, funds be categorized into closed-ended funds, open-ended funds and funds with other special modes of operation as agreed in the fund contract.

Closed-ended fund refers to a fund operation mode in which the fund shares are fixed within the term of the fund contract, and the fund shares can be traded in the legally established stock exchange as agreed in the fund contract, but the fund shareholders are not allowed to apply for redemption.

Open-ended fund refers to a fund operation mode in which fund shares are not fixed and fund shares can be subscribed and redeemed at the time and place agreed in the fund contract.

2. According to the different investment targets, it can be divided into stock fund, bond fund, money market fund, mixed fund, fund of funds and so on.

According to the categorization standards for fund from"Administrative Measures for the Operation of Publicly Offered Securities Investment Funds",  the funds with more than 80% of the fund assets invested in stocks are stock funds; the funds with more than 80% of the fund assets invested in bonds are bond funds; the funds only invested in money market instrumentsare money market funds; the funds with more than 80% of the fund assets invested in the shares of other funds are  fund of fund; the funds invested in stocks, bonds, money market instruments, or other fund shares, but the proportion of stock, bond, and fund share investment does not comply with the foregoing is a hybrid fund.

3. Special types of funds

 (1) Hedging strategy funds. It refers to a publicly offered securities investment fund that operates through a certain hedging investment strategy and introduces a relevant protection mechanism in order to seek to avoid loss of fund shareholders' investment principal at the expiration of the hedging strategy cycle.  Hedging strategy funds are still subject to the risk of loss of principal under extreme circumstances.

(2) Exchange-traded index funds (ETFs) and ETF feeder funds. Exchange Traded Index Funds (ETFs) are funds that invest in the constituent securities (stocks, bonds, etc.) of a selected index (the underlying index), based on the types and proportions of the constituent securities, either by full replication or sample replication. ETF adopts the principle of "share subscription and share redemption", whereby investors subscribe for a basket of securities specified in the PCF list (subscription and redemption list) published by the fund company on a daily basis.When redeeming the securities, investors receive not cash, but a corresponding basket of securities. Instead of cash, investors will receive the corresponding basket of securities upon redemption (some ETFs may adopt the full or partial cash alternative mode for redemption). Therefore, the operation mechanism and redemption rules of ETFs are more complicated than those of ordinary index funds. In addition, there is a certain threshold restriction on the subscription and redemption of ETFs. Investors are required to declare the minimum redemption unit or its integral multiple as stipulated in the fund contract and fund prospectus (for the minimum redemption unit of each ETF varies, please refer to the prospectus of the relevant fund for details). However, there is no threshold restriction on the over-the-counter trading of ETFs, and investors can trade ETF shares just like buying and selling of stocks after opening a securities account. For the convenience of investors who are unable to open on-exhange securities accounts to participate in secondary market trading, "ETF Feeder Funds" have been created. ETF Feeder Funds refer to funds that invest the majority (normally no less than 90%) of their fund assets in ETFs tracking the same underlying index (i.e. target ETFs) and adopt open-ended operation with cash-based subscription or redemption. ETF feeder funds have similar investment objectives as target ETFs, closely tracking the performance of the underlying index and seeking to minimize tracking deviation and tracking error.

(3) Listed Open-ended Funds ("LOF") is a kind of open-ended fund that can not only make fund share subscription or redemption through fund sales organizations, but also make fund share subscription or redemption on the exchange through securities accounts. Investorscan also trade fund shares on the exchange as if they were stocks. It is an open-ended fund that can trade fund shares on the exchange as if it were a stock.

(4) QDII fund: QDII is the acronym for Qualified Domestic Institutional Investors. It refers to the fund that raises funds in China and utilizes part or all of the funds raised to invest in stocks, bonds and other securities in overseas securities markets in the form of asset combinations. It provides convenience for domestic investors to participate in the international market, but investors also need to bear the corresponding investment risks in overseas markets.

(5) Infrastructure funds (REITs). Infrastructure funds (REITs) are fund products that simultaneously meet the following characteristics: ① more than 80% of fund assets are invested in infrastructure asset-backed securities and held in its entire share; the fund holds the entire equity of the infrastructure project company through infrastructure asset-backed securities; ② the fund obtains full ownership or operation rights of the infrastructure project through the asset-backed securities and the project company and other carriers; and ③the fund manager actively operates and manages the infrastructure projects with the main purpose of obtaining stable cash flows such as rents and fees from the infrastructure projects; ④ Closed-end operation is adopted, and the proportion of income distribution shall not be less than 90% of the amount available for distribution of the fund for the year after the merger.

(iv) Fund Rating

Fund ratings are based on certain criteria to analyze and evaluate fund products. When investing in funds, investors may refer to the results of fund ratings as appropriate, but fund ratings should not be used as the sole basis for fund selection. In addition, fund rating is an evaluation of the past performance of the fund manager and does not represent the future long-term performance of the fund.

Our company currently commissions Morningstar, a third-party organization, to evaluate the risk level of the fund products sold on the online direct sales platform, and the "Morningstar Risk Evaluation Methodology for Morningstar Fund Products" is available at www.efunds.com.cn/html/menu/848.htm.

(v) Fund Fee

Fund fees generally include two major categories: one is the fees incurred in the fund sales process and borne by the fund investors themselves, which mainly include subscription fees, subscription fees, redemption fees and fund conversion fees. These fees are generally charged directly at the time of the investor's subscription, subscription, redemption or conversion. Among them, subscription fee can be charged when investors purchase the fund, i.e. front-end fee, and its rate can be different according to the investors' subscription amount a; it can also be charged from the redemption amount when investors redeem the fund shares, i.e. back-end fee, and its rate is generally decreasing according to the holding period. The other category is expenses incurred in the course of fund operation, mainly including fund management fees, fund custody fees and information disclosure fees, which are borne by the fund assets. In addition, the fund manager may, as agreed in the fund contract, charge a certain amount of sales service fee from the fund assets, which is exclusively used for the sale of the fund and services to the fund holders.

II. Rights of Fund Shareholders

According to Article 46 of the Securities Investment Fund Law, fund shareholders have the following rights:

(i) To share the income of fund property;

(ii) To participate in the distribution of the remaining fund property after liquidation;

(iii) To transfer or apply for redemption of fund shares held by them in accordance with law;

(iv) To request the convening of a general meeting of shareholders or to convene a general meeting of shareholders in accordance with the regulations;

(v) To exercis the right to vote on the matters to be considered at the general meeting of shareholders of the Fund;

(vi) To institute legal proceedings against the fund administrator, fund custodian or fund service organization for any act that is detrimental to the legitimate rights and interests of the fund administrator, fund custodian or fund service organization in accordance with the law;

(vii) Other rights as agreed in the fund contract.

 The shareholders of a publicly offered fund shall have the right to inspect or copy the publicly disclosed information of the fund; the shareholders of a non-publicly offered fund shall have the right to inspect the financial accounting books and other financial information of the fund in respect of situations involving their own interests.

III. Fund Investment Risk Alert

(i) Securities investment fund is a financial tool whose main function is to diversify investments and reduce the individual risks associated with investing in a single security. Funds are different from bank savings and other financial instruments that can provide fixed income expectations. By purchasing funds, investors may share the income generated from fund investment according to their shareholding, and may also bear the losses arising from fund investment.

(ii) Funds may face various risks in the course of investment operation, including both market risks and the fund's own management risks, technical risks and compliance risks. Huge redemption risk is a kind of risk unique to open-ended funds, i.e., usually when the net redemption application of the fund on a single open day exceeds 10% of the total fund shares (except for special fund types stipulated by the CSRC, e.g., 20% of the regular open-ended funds), the investor may not be able to redeem all the fund shares held in a timely manner. If the fund contract agrees otherwise with respect to the triggering circumstances and specific measures for huge redemption, it shall be implemented according to the agreement.

(iii) Fund investors should fully understand the difference between systematic investment in the fund and savings methods such as regular savings. Systematic investment in funds is a simple and easy investment method to guide investors to make long-term investment and average investment costs, but it does not avoid the risks inherent in fund investment, does not guarantee that investors will obtain returns, and is not an equivalent financial management method to replace savings.

(iv) The fund manager undertakes to manage and utilize the assets of the fund on the basis of honesty, trustworthiness and diligence, but does not guarantee that its funds will make a profit, nor does it guarantee a minimum return. The past performance of its funds and the net value of its funds are not indicative of its future performance. The fund manager reminds investors of the "buyer assumes the risk" principle of fund investment, and that after making an investment decision, the investment risk arising from changes in the fund's operating conditions and net value shall be borne by the investors themselves.

(v) Our company will assess the risk tolerance of fund investors and provide appropriate matching opinions of fund products according to the risk tolerance of fund investors. However, our company's appropriateness matching opinions are for investors' reference only, and do not indicate any substantive judgment or guarantee on the risks and returns of the products. Investors should understand the product and listen to our suitability opinion, make prudent decisions according to their own ability and bear the investment risk independently.

IV. Services and fees

Our company provides the following services to fund investors:

(i) Assessment of fund investors' risk tolerance ability.

(ii) Fund sales business, including fund account and fund trading account opening, fund (subscription) subscription, fund redemption, fund conversion, regular fixed investment, modification of fund dividend distribution method, etc. Our company charges relevant fees such as subscription, redemption and conversion fees according to the offering announcement, latest prospectus and other relevant latest announcements of each fund.

Fund investors can log on to the Company's website and check the prospectus of the fund products through the "Legal Documents" in the "Fund Products-Product Announcements" section, and check the "Information Disclosure" section of the Company's website. Through the "Information Disclosure" section of the Company's website, you can check the latest announcements of the Company.

Fund investors should be reminded that if there is any inconsistency between the above services, the prospectus of fund products and the online trading guide and the latest announcement of the Company, please refer to the latest announcement of the Company.

(iii) Fund online trading service. Our company provides investors with fund online trading services, including fund account and fund trading account opening, account information change, subscription, redemption, conversion, transaction cancellation, dividend distribution method setting and change, transaction password modification and inquiry services. Fund investors can log on to the relevant section of online trading on our website to make inquiries. Investors who handle fund subscription or conversion through online trading and applicable online trading rates can log in to the online trading related section of our company's website for inquiry.

Fund investors should be reminded that before applying for the use of online trading services, investors should carefully read the agreements and rules relating to online trading and understand the inherent risks of online trading. Investors are advised to make their choices carefully and keep their online trading information, especially identity data such as fund trading account numbers, account passwords and certificates, in a safe place.

(iv) Investment transaction confirmation service for fund shareholders

The fund share registration institutions retain the fund transaction records of all fund shareholders listed in the fund shareholders' register. 

The Company provides transaction confirmation slips at the request of investors who conduct transactions at direct sales outlets. Please refer to the actual business process and regulations of each sales organization for the investment transaction confirmation service for fund shareholders of non-direct sales organizations.

(v) Fund shareholders' transaction record inquiry service

Our fund shareholders can inquire about the historical transaction records through our customer service center.

 (vi) Fund shareholders' transaction statement service

1. Fund shareholders may access the statement on the Company's website (www.efunds.com.cn).2 The Company will provide information on fund ownership to holders of the Company's fund shares through Efunds' direct marketing system at least once a year by e-mail, SMS or other forms, and the fund shareholders can also customize the monthly statement in the form of e-mails to the Company. Specific methods of accessing and customizing the statement can be found on our website or by calling our customer service hotline.

 (vii) Information Service

1. Customer Service Center HotlineIf investors want to know the transaction status of subscription and redemption, fund account balance, fund products and services, etc., they can call the following telephone number: 4008818088.

2. Website and Service Email

Company website: www.efunds.com.cn

Service Email: service@efunds.com.cn

 (viii) Fund literacy and risk education.

 V. Fund Business procedures of  Investors

Investors can conduct the following fund business through our company:

(i) Fund account opening  (ⅱ) Fund account registration (ⅲ)   Fund account information modification(iv) Cancellation of fund account (v) Fund subscription (vi) Fund purchase(vii) Regular fixed-amount subscription (viii) Fund redemption (ix) Fund conversion(x) Fund transfer (xi) Non-trading transfer (xii) Freezing and unfreezing(xiii) Fund dividend distribution (xiv) Application acceptance, withdrawal and confirmation (xv) Settlement(xvi) Enquiry

For specific business rules, please visit the "Business Guide" in the "Customer Service Center" section of the Company's website, or call the Company's customer service hotline at 4008818088 for inquiries. Please be reminded that the relevant business rules may be adjusted according to the actual situation, so please pay attention to the latest business guide on the Company's website.

VI. Complaints and Suggestions

Investors who need to give complaints and suggestions in the investment process should contact us or relevant institutions such as regulators or self-regulatory organizations:

(i) Fund investors may send us their complaints and suggestions requiring feedback in the investment process by telephone, e-mail, fax or letter. For the accepted complaints, we will reply for the first time within 3 working days, if non-working days will be postponed.

Customer service telephone: 4008818088

Service e-mail: service@efunds.com.cn

Service Fax: 020-38798812

Mailing Address: E Fund Management Co.,42nd Floor, Yuexiu Financial Building, No. 28 Zhujiang East Road, Tianhe District, Guangzhou City.

Postal Code: 510620

(ii) Fund investors may also lodge complaints with the regulators, self-regulatory organizations and other relevant bodies by letter, fax or e-mail. The contact information is as follows:

Guangdong  Bureau of China Securities Regulatory Commission:

Website: www.csrc.gov.cn/guangdong/index.shtml

12386 service platform: 12386 hotline and its network platform (CSRC website - interactive communication - 12386 service platform)

Reporting jurisdiction of securities and futures violations, Tel: 020-37853900 (answering time: 8:30-11:30, 13:30-17:00, except holidays, public holidays)

Online Reporting: neris.csrc.gov.cn/jubaozhongxin/ (China Securities Regulatory Commission Securities and Futures Violations Reporting Center)

Mailing address: 15th Floor, Development Center, No. 3 Linjiang Avenue, Tianhe District, Guangzhou City, P.R.C.: 510623

On-site Reception: Guangdong Securities Regulatory Commission, Petition Reception Room, Development Center, No. 3 Linjiang Avenue, Tianhe District, Guangzhou City (reception time: 8:30-11:30 a.m., 1:30 p.m.-4:30 p.m., except holidays and public holidays)

Asset Management Association of China:

Website: www.amac.org.cn

Online Complaint: ambers.amac.org.cn/web/complain.html (Fill in and submit the complaint information according to the requirements. If the Association requires additional materials, submit additional materials within 15 trading days)

Address: 9th Floor, Block B, Bank of Communications Building, No. 20 Finance Street, Xicheng District, Beijing, 100033, marked "Complaint Material".

Address for visits: Room 2501, Tower A, Yuetan Building, No. 2 Yuetan North Street, Xicheng District, Beijing (Reception hours: Monday to Friday, except legal holidays and non-trading days, 9:00-11:00 a.m., 14:00-16:00 p.m.)

China Securities Investor Protection Fund Corporation Limited (formerly China Securities Investors Protection Network):

Website: www.sipf.com.cn

China Securities Regulatory Commission Service Hotline: 12386

Tel: 010-66580678

Address: 22nd Floor, Block B, Xinsheng Mansion, No. 5 Financial Street, Xicheng District, Beijing

Zip code: 100033

Guangdong CSI Investor Service and Dispute Mediation Center:

Website: www.gdism.org

Complaint Hotline: 020-37853815

Fax: 020-37853814

E-mail: tjzx@gdcm.org.cn

Address: Unit B3, 21/F, Development Center, No. 3 Linjiang Avenue, Tianhe District, Guangzhou, China

Zip code: 510623

Reporting Center for Illegal and Harmful Information of the Central Internet Information Office (State Internet Information Office):

Website: https://www.12377.cn

Hotline: 12377

Report e-mail: jubao@12377.com

(ⅲ) All disputes arising out of or in connection with the fund contract, if they cannot be resolved through consultation or mediation, the fund investors may submit to the arbitration institution agreed in the fund contract for arbitration in accordance with the arbitration rules in force at the time. The place of arbitration shall be the place agreed in the fund contract. The arbitration award is final and binding on all parties. If the fund contract agrees otherwise on the handling of disputes, it shall follow its agreement.

Investors should read the Fund Contract, Prospectus and other disclosure documents carefully before investing in the fund, and choose a fund that is compatible with their risk tolerance. Our company promises to prioritize the interests of investors and provide services to investors with honesty, trustworthiness and diligence, but cannot guarantee that the fund will make a profit or guarantee the minimum return of the fund. Investors can visit the website of China Securities Regulatory Commission (www.csrc.gov.cn) to check the list of fund sales organizations and verify the fund sales qualification of our company.

VII. Contact

    (i) Customer Service Hotline: 4008818088

    (ii) Company website: www.efunds.com.cn

    (iii) Service e-mail: service@efunds.com.cn

    (iv) Service Fax: 020-38798812

    (v) Correspondence address: E Fund Management Co., 42nd Floor, Yuexiu Financial Building, No. 28 Zhujiang East Road, Tianhe District, Guangzhou City

The relevant contents of the Notes will be revised from time to time in accordance with the laws and regulations and the requirements of the regulatory bodies or industry associations or the changes in the business situation of the Company, and the relevant revisions shall be subject to the update by the Company.