Shanghai Stock Exchange: The price limit ratio of the risk warning stocks on the main board will be adjusted from 5% to 10%

Shanghai Stock Exchange Drafts the "Shanghai Stock Exchange Trading Rules (Consultation Draft)" for Public Consultation In order to further optimize the securities trading mechanism, promote stable market operation, and better meet the needs of investors, under the overall guidance of the China Securities Regulatory Commission, the Shanghai Stock Exchange (hereinafter referred to as the SSE) recently drafted the "Shanghai Stock Exchange Trading Rules (Consultation Draft)". Now, relevant matters are open for public consultation. The main contents of this revision include the following: First, the scope of securities applicable to the post-market fixed price trading method is expanded from the Science and Technology Innovation Board stocks to all A-shares and exchange-traded open-end funds. The related adjustments are helpful to meet the demand of investors for trading at the closing price, extend the trading time of related varieties, and facilitate the entry of medium and long-term capital into the market. Second, the trading method for the closing stage of funds has been adjusted from continuous bidding to closing call auction, and the closing price is generated through the call auction, in line with the Shanghai stock market. The related adjustments are beneficial to further improve the price stability and pricing efficiency of funds at the closing stage, and enhance the consistency of market mechanisms. Third, adaptive revisions are made according to rule changes and business needs, including incorporating the relevant provisions of the previously publicly consulted "Notice on Adjusting the Price Limit Ratio for Price Fluctuations of Risk Warning Stocks on the Main Board and Related Matters" into this revision, increasing the price fluctuation limit ratio of risk warning stocks on the main board from 5% to 10%; adjusting the wording of rules, optimizing disciplinary measures, and other related provisions. Market participants are welcome to provide valuable suggestions on this optimization arrangement, and the SSE will carefully study and absorb relevant reasonable opinions and suggestions. Next, the SSE will continue to improve the basic trading system in accordance with the unified deployment of the China Securities Regulatory Commission, continuously strengthen trading supervision, and effectively protect the legitimate rights and interests of investors.