Longi Green Energy announced that its shareholder HHLR Management Co., Ltd. plans to exchange 37.8902 million shares of the company (accounting for 0.5% of the company's total share capital) for shares of exchange-traded open-end index funds ("ETFs" for short). The reason for the HHLR exchange is to optimize asset allocation. In January 2025, the China Securities Regulatory Commission issued the "Action Plan for Promoting the High-Quality Development of Index Investment in the Capital Market", which clearly proposed to expand the ETF collective subscription targets and promote the normalization of the business. From the perspective of market mechanisms, ETF exchanges can reduce individual stock risks and improve market liquidity by converting a single stock into a basket of assets.