Shanghai Gold Exchange: Cancellation of membership of Shenzhen Shengfeng Gold Co., Ltd.

On February 25, the Shanghai Gold Exchange issued a notice that because Shenzhen Shengfeng Gold Co., Ltd. had long failed to fulfill its basic membership obligations, had major operating risks and had not taken effective rectification measures, in accordance with the "Shanghai Gold Exchange Member Management Measures" and "Shanghai Gold Exchange Violation Handling Measures" and other relevant regulations, after deliberation and approval by the Shanghai Gold Exchange Board of Directors, it decided to cancel its membership.