No, the fund subscription period is the fund-raising stage before the fund is established. Investors can subscribe for fund shares at will during the subscription period. The fund opening period is in the initial stage of fund establishment. When the fund raises enough funds, the fund will enter a closed period. During the closed period, the fund manager will gradually open positions according to market conditions. The fund closed period is the initial fund open period.

Fund opening is a long-term process. After the establishment of the fund, it is only the initial opening stage. The fund manager will make subsequent positions according to market conditions, and the fund manager can change positions and stocks at any time according to market conditions.