All Members:

In accordance with our previously announced holiday trading schedule, trading will be suspended from September 29th (Friday) to October 8th (Sunday), and will resume as usual on October 9th (Monday). There will be no after-hours trading on September 28th (Thursday).

To mitigate risks arising from fluctuations in international gold and silver markets during the holiday period, we are adjusting margin rates and price limits in accordance with the Measures for the Administration of Risk Control of Shanghai Gold Exchange. The details are as follows:

Effective from the end of clearing on September 27th (Wednesday), the margin rates for Au(T+D), mAu(T+D), Au(T+N1), Au(T+N2), NYAuTN06, NYAuTN12, will be adjusted from 10% to 13%. The price limit will be adjusted from 9% to 12% from the next trading day. For Ag(T+D) contracts, the margin rate will be adjusted from 14% to 17%, and price limit will be adjusted from 13% to 16%. For CAu99.99 contracts, the margin per lot will be adjusted from 50,000 RMB to 60,000 RMB.

If a limit-locked market occurs on September 27th, higher margin rates and price limits between the rates mentioned above and the rates in accordance to the Measures for the Administration of Risk Control of the Shanghai Gold Exchange will be adopted.

After the resumption of trading on October 9th (Monday), and from the first trading day without a limit-locked market, the margin rates for Au(T+D)、mAu(T+D)、Au（T+N1）、Au（T+N2）、NYAuTN06、NYAuTN12 will be adjusted back to 10%, and the price limit will be adjusted back to 9% from the next trading day; the margin rate for Ag(T+D) will be adjusted back to 14% and its price limit will be back to 13%; The margin for CAu99.99 will be back to 50,000 RMB per lot.

Given the extended length of this combined holiday period, which includes both the Mid-Autumn Festival and National Day, we urge all members to enhance their risk awareness. Please be alert of various risks and make detailed contingency plans, as well as remind customers to be prudent and rational during trading, and appropriately manage open interests so as to ensure healthy and stable operation of the market.