Core Viewpoint - The Shanghai Gold Exchange has announced changes to the trading of the Guotai Gold ETF, effective September 15, 2025, which will impact the gold spot contract used for subscription and redemption [1] Group 1: Changes in ETF Operations - The Guotai Gold ETF will no longer include the Au99.95 contract for gold spot transactions, switching exclusively to the Au99.99 contract [1] - The minimum subscription and redemption unit for the Guotai Gold ETF will be adjusted from 300,000 shares to 100,000 shares, corresponding to a change in the minimum gold spot contract from 3,000 grams to 1,000 grams [1] Group 2: Operational Adjustments - To facilitate the smooth transition of the subscription and redemption adjustments, the gold spot contract transactions for the Guotai Gold ETF will be suspended for one day on September 12, 2025, and will resume on September 15, 2025 [1]