Core Points - The company has announced adjustments to margin requirements for clients during the National Day holiday period in 2025, specifically from September 26 to October 8, 2025 [1] - The adjustments are made to mitigate market risks associated with external fluctuations during the holiday [1] Margin Adjustments - The company will cancel existing preferential margin rates and revert to standard rates starting from the settlement on September 29, 2025, until the holiday ends [1] - After the holiday, on the first trading day, the preferential margin rates will be restored [1] Specific Margin Rates - Various futures contracts will see changes in margin requirements during the holiday period, with specific percentages outlined for different commodities [1][2] - For example, the margin for apple futures will increase from 13% to 15% during the holiday, while after the holiday, it will return to 13% [1] - Other commodities such as iron ore, coke, and soybeans will also have their margin requirements adjusted accordingly [4][5] Trading Resumption - Trading will resume on October 9, 2025, with specific margin standards and price fluctuation limits reinstated for various contracts [3][4][5] - The adjustments will apply to contracts with the largest open interest that do not experience a limit-up or limit-down situation on the first trading day after the holiday [3][4][5] Risk Management - The company emphasizes the importance of risk management during the holiday period due to the uncertainty in market operations [7] - Investors are advised to adhere to position limits and make necessary adjustments to their holdings [7]

Market Closure Schedule - The A-share market will be closed from October 1 (Wednesday) to October 8 (Wednesday) for the National Day and Mid-Autumn Festival, resuming normal trading on October 9 (Thursday) [2] - The weekend closures include September 28 (Sunday) and October 11 (Saturday) [2] Hong Kong Stock Connect - The Shenzhen Stock Exchange announced that the Hong Kong Stock Connect service will not be available from October 1 (Wednesday) to October 8 (Wednesday), resuming on October 9 (Thursday) [5] - Weekend closures for the Hong Kong Stock Connect also include September 28 (Sunday) and October 11 (Saturday) [5] Future Trading Arrangements - The Shanghai International Energy Exchange has announced that there will be no night trading on September 30, 2025, and the market will be closed from October 1 (Wednesday) to October 8 (Wednesday) in 2025 [8][9] - On October 9, 2025, trading will resume with a collection auction from 08:55 to 09:00, followed by the restoration of night trading [10] Margin and Price Limit Adjustments - Starting from the closing settlement on September 29, 2025, margin ratios and price limit adjustments for various futures contracts will be implemented, including: - International copper futures: price limit adjusted to 9%, margin for holding positions at 10% [11] - Crude oil and low-sulfur fuel oil futures: price limit adjusted to 12%, margin for holding positions at 13% [11] - 20 rubber futures: price limit adjusted to 11%, margin for holding positions at 12% [11] - Shipping index (European line) futures: price limit adjusted to 20%, margin at 22% [11] Post-Adjustment Trading Conditions - After trading on October 9, 2025, the price limits and margin ratios for all futures contracts will revert to their original levels after the first trading day without a one-sided market [13]

Group 1 - The Shanghai International Energy Exchange announced the trading schedule for the Dragon Boat Festival in 2025, indicating no night trading on May 30, 2025, and a market closure from May 31 to June 2, 2025, with trading resuming on June 3, 2025 [1] - The margin requirements and price fluctuation limits for the shipping index (European line) futures contracts will be adjusted to a fluctuation limit of 18% and a margin ratio of 20% starting from the settlement on May 29, 2025 [1] - On June 3, 2025, after trading, the fluctuation limit and margin ratio for the shipping index (European line) futures contracts will remain at 18% and 20%, respectively, unless conditions specified in the risk control management rules necessitate further adjustments [1][2]