Trading Arrangement Notices
SXSY CIO N2809<05907> - New Listing

Market participants are requested to note that dealings in the
4.38 per cent. notes due September 2028 issued by Shaoxing Shangyu
State-owned Capital Investment and Operation Co., Ltd. will
commence on Friday, 12/09/2025 under the following particulars:-

Stock Code  Stock Short Name     Denomination     Trading Currency
----------  ----------------     ------------     ----------------
5907        SXSY CIO N2809       USD200,000       USD
                                 or 2,000 units