Article 1 The Special Provisions are formulated with a view to standardizing the trading on the Small and Medium Enterprises Board (hereafter “SME Board”) and strengthen the regulation of stock trading on the SME Board.

Article 2 The Special Provisions apply to the stock trading on the SME Board (hereinafter referred to as the SME stocks) of Shenzhen Stock Exchange (hereinafter referred to as the Exchange).

Where it is not provided in the Special Provisions, the Trading Rules of Shenzhen Stock Exchange and Shanghai Stock Exchange, the Implementation Rules of Shenzhen Stock Exchange Regarding Block Trades and other relevant provisions shall apply.

Article 3 Opening call auction period of the SME Board is 9:15- 9:25. Continuous trading period is 9:30-11:30 and 13:00-14:57. Closing call auction period is 14:57-15:00 and block trades period is 15:00-15:30.

Article 4 During opening call auction period, real-time indicative traded prices, trade volume and unmatched volume of the SME stocks are disseminated on timely basis.

The indicative opening prices refer to the virtual opening prices generated by the effectiveorders under the call auction rules. The indicative trade volumes refer to the virtual trades generated by the effective orders under the call auction rules. The unmatched volume refers to orders unable to find a counterpart.

Article 5 During 9:20 and 9:25 of each trading day, the host computer is blocked to cancellation orders of SME stocks.

Article 6 Closing prices of the SME stocks are generated through call auctions during the last 3 minutes of each trading day. In case an issue fails to generate closing price during call auction period, its last traded price shall be the closingprice of the day.

Article 7 The SME Board Indices are to be composed by the Exchange to reflect price changes and move- ment.Rules relating to composing the SME Board indices is to be stipulated separately.

Article 8 In case any of the following occurs to trading in the SME stocks, the top 5 broking branches or trading seats shall be disclosed by the Exchange with respect to their trade volume:

1. The top three issues which deviate ±7% in closingprices with each broking branch or trading seat;
   The formula of computing deviation in closingprice is:
   Deviation in closing price = ±change in stock price of a certain issue minus ±change in SME Board Index.
   
2. Top three issues whose price volatility reach 15 % within a trading day;
   The formula of computing price volatility is:
   Price volatility = (the high of the day – the low of the day) / the low of the day × 100%
   
3. Top three issues whose turnover rate reaches 20%;
   The formula of computing turnover rate is:
   Turnover rate = trade volume of the day/ free float volume × 100%

Article 9 In case of abnormal price movement in a specific  SME stock, its trading shall be suspended till 10:30 am on the day when the party concerned with the disclosing obligation makes relevant statement. The Exchange shall disclose the top five broker branches regarding their buying and selling turnover in the stock.

Article 10 In case  any of the following occurs to trading in SME stocks, it is defined as  abnormal movement:

1. Closing price deviation in the last three consecutive days reaches ±20%;
   
2. Closing price deviation of ST stocks and *ST stocks in the last three consecutive  days reaches ±15%;
   
3. The daily average turnover rate of an issue in 3 consecutive trading days versus the daily average turnover rate of the last 5 consecutive trading days reach 30 times, and the turnover rate of the said issue in 3 consecutive trading days totals 20%.
   
4. Other conditions considered as abnormal by the Exchange and the CSRC.

The parameters of abnormal fluctuation shall be recalculated on the date when the stock resumes trading.

Issues on their first day of trading (including new shares, secondary issuance, shares of right issue and re-listed shares) shall not be counted in abnormal fluctuation.

Article 11 When the trading information on the SME stocks publicized by the Exchange under the provisions of Articles 8 and 9 hereof concerns institutional special seats, only the names as well as the buying and selling amount of the exchange members, to which the seats belong, are to be released.

Article 12  Exchange members shall publicize the information specified in Articles 8 and 9 hereof in their business places in a timely manner.

Article 13 Violations against these Special Provision shall be penalized under the relevant provisions of the Trading Rules.

Article 14 Prior to promulgation of the SME Board Indices, closing price deviation specified in Article 8 and Article 10 hereof is calculated on the following formula:

Closing price deviation = ± change of a single stock minus ± change of SSE Composite A-shares Index.

Article 15 The power to interpret these Special Provisions shall remain with the Exchange.