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        Stock Paper Trading Rules

        1. Paper trading supports five markets: the Hong Kong stock market, the US stock market, the China A-shares market, the Singapore stock market, and the Malaysia stock market. By tapping the "Get Now" button, you can open a virtual account for each market, with initial assets of 1 million HKD, 1 million USD, 1 million CNY, 1 million SGD, and 1 million RM in each account, respectively.

        2. The product types you can paper trade are limited to stocks, warrants, CBBCs, and other products listed on the Hong Kong Stock Exchange for the Hong Kong stock market, and to stocks for the US stock market, the Singapore stock market, the Malaysia stock market, and the China A-shares market.

        3. Trading hours: Hong Kong stock market: 9:30 AM-12: 00 PM, 1:00 PM-4:00 PM (China Standard Time); US stock market: 9:30 AM-4:00 PM (Eastern Time); China A-shares market: 9:30 AM-11:30 AM, 1:00 PM-3:00 PM (China Standard Time); Singapore stock market: 9:00 AM-12:00 PM, 1:00 PM-5:00 PM (Singapore Time); Malaysia stock market 9:00 AM-12:30 PM, 2:30 PM-5:00 PM (Malaysia Time).

        4. Paper trading supports dividends and bonus shares, but is not available for IPO shares subscription, rights issue, or placement.

        5. Paper trading adopts the rules of order matching. The highest bid (best bid) and the lowest ask (best ask) are the best prices for matching. A buy order at a price higher than the best bid or a sell order at a price lower than the best ask satisfies the matching conditions and will be automatically queued for execution.

        6. The paper trading system may not necessarily be consistent with the real stock market. In case of any inconsistency, data in the paper trading system shall prevail.

        7. If you hold the stock of a listed company that is delisted for any reason, you may no longer trade such stock in later trading days, and the system will return the virtual funds to your virtual account at the last closing price.

        8. Paper trading fees do not reflect actual trading fees due to the nature of paper trading. For actual investments, please refer to the fee standards in the official trading environment.

        ● Hong Kong market:

        Commission: transaction amount * 0.03%, minimum 3 HKD/order;

        Platform Fee: 15 HKD/order;

        Trading Tariff: 0.5 HKD/order;

        Settlement Fee: transaction amount * 0.002%, minimum 2 HKD, and maximum 100 HKD;

        Stamp Duty: transaction amount * 0.13%, minimum 1 HKD;

        Trading Fee: transaction amount * 0.005%, minimum 0.01 HKD;

        Transaction Levy: transaction amount * 0.0027%, minimum 0.01 HKD;

        ● US market:

        Commission: 0.0049 USD/share, minimum 0.99 USD/order;

        Platform Fee: 0.005 USD/share, minimum 1 USD/order;

        Settlement Fee: transaction shares * 0.003 USD;

        Regulatory Fee: transaction amount * 0.0000221 USD, minimum 0.01 USD/order;

        Trading Activity Fee: transaction shares * 0.000119 USD, minimum 0.01 USD and maximum 5.95 USD;

        ● Singapore market

        Commission: transaction amount * 0.03%, minimum 0.99 SGD/order;

        Platform Fee: transaction amount * 0.03%, minimum 1.50 SGD/order;

        Trading Fee: transaction amount * 0.0075%;

        Clearing Fee: transaction amount * 0.0325%;

        ● Malaysia market

        Commission: transaction amount * 0.1%, minimum 8 RM/order;

        Settlement Fee: transaction amount * 0.03%, maximum 1,000 RM/order;

        Service Tax: commission * 6%;

        Stamp Duty: 1 RM for every 1,000 RM traded, maximum 200 RM/order

        ● China A-shares market:

        Commission: transaction amount * 0.03%, minimum 3 CNY/order;

        Platform Fee: 15 CNY/order;

        Handling Fee: transaction amount * 0.00487%, minimum 0.01 CNY;

        Securities Management Fee: transaction amount * 0.002%, minimum 0.01 CNY;

        Transfer Fee (CSDC): transaction amount * 0.002%, minimum 0.01 CNY;

        Transfer fee (HKSCC): transaction amount * 0.002%, minimum 0.01 CNY;

        Stamp Duty (sells only): transaction amount * 0.1%;

        Portfolio Fee: number of shares held * 0.008%/365.

        9. If you bought a CBBC and it is called because its call price is reached, then its residual value will be set to zero. The same is applicable if a warrant expires.

        10. Transaction fees deducted in the paper trading system are not real expenses. The paper trading system is free of charge, so please feel free to use it.

        This presentation is for informational and educational use only and is not a recommendation or endorsement of any particular investment or investment strategy. Investment information provided in this content is general in nature, strictly for illustrative purposes, and may not be appropriate for all investors.  It is provided without respect to individual investors’ financial sophistication, financial situation, investment objectives, investing time horizon, or risk tolerance. You should consider the appropriateness of this information having regard to your relevant personal circumstances before making any investment decisions. Past investment performance does not indicate or guarantee future success. Returns will vary, and all investments carry risks, including loss of principal. Moomoo makes no representation or warranty as to its adequacy, completeness, accuracy or timeliness for any particular purpose of the above content.