Attachment 1

Detailed Rules of Polypropylene Futures of Dalian Commodity Exchange

Chapter I General Provisions

The Detailed Rules of Polypropylene Futures of Dalian Commodity Exchange (the "Detailed Rules") are formulated pursuant to the Trading Rules of Dalian Commodity Exchange and the Polypropylene Futures Contract of Dalian Commodity Exchange for the purpose of standardizing the trading of polypropylene futures contracts.

Dalian Commodity Exchange (the "Exchange"), its Members, the clients, the designated delivery warehouses, the designated quality inspection agencies, the designated futures margin depositary banks and other participants in the futures market shall comply with the Detailed Rules.

Where it is not provided in the Detailed Rules, the relevant rules of the Exchange shall apply.

Chapter II Major Terms of the Contract and Relevant Parameters

The quality standards for and the packaging requirements for the standard deliverable products under the polypropylene futures contracts shall be detailed in the Polypropylene Delivery Quality Standards of Dalian Commodity Exchange (F/DCE PP001-2014) as Annex 1 attached hereto.

Delivery shall be prohibited with respect to the non-conforming products identified by the original manufacturer and the polypropylene manufactured by taking the recovered materials as the raw materials.

The delivery products of the polypropylene shall be those of the delivery brands announced by the Exchange. The rules for management of delivery brands will be separately prescribed by the Exchange. The delivery brands, the relevant enterprises and the brand premiums and/or discounts will be separately published by the Exchange.

Price difference of the brand premiums and/or discounts of the polypropylene futures contract shall be settled between the owner and the designated delivery warehouse.

If the owner is able to provide relevant certificates to prove the product quality conforms to the futures delivery quality standards issued by the enterprise applying for the delivery brand qualification, polypropylene products of the delivery brand may be exempted from loading-in quality inspection.

The polypropylene futures contract shall take the form of physical delivery.

The delivery warehouses designated for polypropylene shall be divided into the benchmark delivery warehouses and the non-benchmark delivery warehouses (detailed in the List of Delivery Warehouses Designated for Polypropylene of Dalian Commodity Exchange as Annex 2 attached hereto), and may be adjusted by the Exchange as the case may be.

The contract months of the polypropylene futures contract are January, February, March, April, May, June, July, August, September, October, November and December.

The trading unit of the polypropylene futures contract is 5 MT/Lot.

The price quote unit of the polypropylene futures contract is CNY/MT.

The minimum tick size of the polypropylene futures contract is 1 CNY/MT.

The maximum quantity of orders placed each time for the polypropylene futures contract shall be one thousand (1,000) lots.

The standard of trading margins, price limit range and position limit under the polypropylene futures contract shall be subject to the relevant provisions of the Measures for Risk Management of Dalian Commodity Exchange.

The last trading day of the polypropylene futures contract is the tenth trading day of the contract month.

The last delivery day of the polypropylene futures contract is the third trading day after the last trading day.

The ticker symbol of the polypropylene futures contract is PP.

Chapter III Delivery and Clearing

Section I General Provisions

The polypropylene futures contract applies the exchange of futures for physicals delivery and one-off delivery, the detailed procedures of which are provided in the relevant provisions of the Measures for Trading Management of Dalian Commodity Exchange, the Measures for Delivery Management of Dalian Commodity Exchange and the Measures for Clearing Management of Dalian Commodity Exchange.

Standard warehouse receipt of polypropylene can be categorized into standard storage warehouse receipt and standard factory warehouse receipt.

The delivery products of polypropylene shall use the packages of the original manufacturer or the packages approved by the original manufacturer. The packing sacks shall bear the trademark, the product name, the product standard number, the net weight, the manufacturer's name and address as well as the product type.

The prices of the packages of the polypropylene shall be included in the polypropylene futures contract price.

The net weight of each sack of the delivery products of the polypropylene shall be 25±0.2 kilograms. Each ton shall have forty (40) sacks without calculation of any more or less thereof.

The dedicated VAT invoice shall be issued for delivery of polypropylene.

The delivery commissions, the sampling and inspection fees, the storage fees and other fees of Polypropylene shall be separately published by the Exchange and no dissipation fees will be charged.

Section II Standard Warehouse Receipt Delivery

The Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange shall apply to the generation, circulation and deregistration of the standard warehouse receipts, if not provided in the Detailed Rules.

The Member shall pay the notice of intent to deliver earnest money to the Exchange as per the standard of CNY thirty (30) per ton when it handles the notice of intent to deliver.

The owner which has fully completed the notice of intent to deliver shall, before consignment, notify the designated delivery warehouse of the vehicle or vessel number, products, quantity, arrival time and other information, and the designated delivery warehouse shall reasonably arrange for receipt and loading-in of the commodities.

The designated delivery warehouse shall engage a quality inspection agency designated by the Exchange to carry out the quality inspection of the commodities to be loaded in the warehouse. The inspection fees shall be borne by the owner and shall be forwarded by the designated delivery warehouse.

The batch grouping with respect to the quality inspection shall be carried out as per the same manufacturer and the same brand, with each batch being three hundred (300) tons. The inspection shall be carried in more than one (1) batch for those of more than three hundred (300) tons, or in one (1) batch for those less than three hundred (300) tons.

The quality inspection agency designated by the Exchange shall, after its completion of the quality inspection of the polypropylene loaded in the warehouse, issue one (1) original and three (3) duplicate inspection reports; and the original shall be submitted to the designated delivery warehouse and two (2) of the duplicates shall be respectively submitted to the Exchange and the owner.

In case that the owner or the designated delivery warehouse has any objection over the inspection result of the commodity inspection report during loading-in of the storage warehouse commodities, excluding commodities that are exempted from loading-in inspection, it shall file a written application for re-inspection with the Exchange within ten (10) working days following the date of its receipt of the commodity inspection report. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number (if any) and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the party raising the dispute. It shall be deemed that there is no objection over the inspection result of the commodity inspection report in case of no re-inspection application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and such re-inspection result shall be the basis for settlement of the dispute. The re-inspection costs shall be borne by the party raising the dispute.

The designated delivery warehouse shall carry out, subject to the applicable provisions of the Exchange, inspection of the manufacturer, brand, quality, packaging and the relevant materials and certificates of the polypropylene which has been loaded in the warehouse.

When registering the standard warehouse receipt of polypropylene futures, the owner shall provide a photocopy of the corresponding dedicated VAT invoice, and the designated delivery warehouse shall verify sources of the commodities.

The receiving and consigning quantity of the polypropylene shall be subject to the checking by the designated delivery warehouse.

With respect to the application for registration of polypropylene standard warehouse receipt of the storage warehouse (including those manufactured domestically or abroad), the period of the date of the application for registration from the manufacturing date of the commodities shall not exceed one hundred and eighty (180) calendar days.

The deregistration of the standard warehouse receipt shall be carried out against the standard warehouse receipts of the polypropylene prior to the last trading day of each March.

When the polypropylene is loaded out of the storage warehouse, the owner which holds the Notice to Load Out or load-out password shall contact the designated delivery warehouse for the loading-out matters three (3) calendar days prior to the actual pickup date, and shall pick up the commodities at the designated delivery warehouse within ten (10) working days (inclusive of the tenth working day) after the deregistration of the standard warehouse receipt.

If the owner has any objection on quality of the loaded-out commodities, it shall firstly negotiate with the warehouse. If the negotiation fails, the owner shall file a written application for re-inspection to the Exchange within ten (10) working days from the date of deregistration of the standard warehouse receipts, provided that the commodities have been delivered but have not been loaded out of the warehouse. The application for re-inspection shall indicate the name of the warehouse, quantity, quality index, manufacturer, brand number, stack location number and other information of the commodities to be re-inspected, leave the contact information and be affixed with the official seal of the owner. The owner shall be deemed to have no objection over quality of the loaded-out commodities if it does not file application in the prescribed manner within the prescribed period. The re-inspection shall be carried out by the designated quality inspection agency entrusted by the Exchange, and the inspection result shall be the basis for settlement of the dispute. The re-inspection fees shall be advanced by the owner.

For commodities that are not exempted from loading-in inspection, if the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage charges) as well as any losses incurred thereby shall be borne by the warehouse; where the re-inspection result is consistent with the delivery quality standards, but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, the warehouse shall compensate the owner at the rate of CNY two hundred (200)/ton or less first, and shall have the right to claim against the applicant for the standard warehouse receipt registration and other liable persons thereafter, for which process the enterprise applying for the delivery brand qualification shall provide relevant assistance.

For commodities exempted from loading-in inspection, if the re-inspection result for the dispute is in conformity with the delivery quality standards, the relevant fees and expenses incurred thereby shall be borne by the owner; if not, such fees and expenses shall be borne by the enterprise applying for the delivery brand qualification. If the re-inspection result for the dispute does not conform with the delivery quality standards, or if the re-inspection result conforms with the delivery quality standards but the commodities are not of the delivery brand promised by the applicant for the standard warehouse receipt registration, unless otherwise agreed upon by the owner and the enterprise applying for the delivery brand qualification, the enterprise applying for the delivery brand qualification shall replace the commodities for the owner at the original closing location within fifteen (15) calendar days following the day on which it received or should have received the re-inspection result. If the enterprise applying for the delivery brand qualification fails to replace the commodities within such period, the enterprise applying for the delivery brand qualification shall compensate the owner as per CNY two (2)/ton; if the enterprise applying for the delivery brand qualification fails to replace the commodities within sixty (60) calendar days following the day on which it received or should have received the re-inspection result, the enterprise applying for the delivery brand qualification shall compensate the owner all the losses incurred thereby. After the enterprise applying for the delivery brand qualification makes compensation to the owner, it shall have the right to claim against the applicant for the standard warehouse receipt registration or other liable persons.

When the polypropylene is loaded out of the factory warehouse, the owner shall pick up the commodities at the factory warehouse within four (4) calendar days (inclusive of the fourth calendar day) following the deregistration day of the standard warehouse receipt (exclusive of the deregistration day). The factory warehouse shall commence consignment within four (4) calendar days (inclusive of the fourth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day).

When the polypropylene is loaded out of the factory warehouse, the factory warehouse shall draw samples under the owner's supervision, and the samples shall be sealed upon confirmation of both parties and shall be preserved for thirty (30) calendar days following the consignment day.

If the owner has any objection over the quality of the commodities to be loaded out of the factory warehouse, it shall firstly negotiate with the factory warehouse for settlement. If the negotiation fails, the owner shall, within ten (10) working days (exclusive of the tenth working day) after the samples are sealed by it according to the preceding provisions, file in writing an application for re-inspection with the Exchange. Such application shall indicate the name of the factory warehouse, the quantity, the quality index, the manufacturers, the brand number and the stack location number (if any) of the commodities that need to be re-inspected, leave the contact information and be affixed with the official seal of the owner. If no application is filed in the prescribed manner within the prescribed period, it will be deemed that the owner has no objection over the quality of the commodities that are being loaded out of the factory warehouse. The Exchange shall entrust a designated quality inspection agency to carry out the re-inspection over the reserved samples, and the re-inspection result shall be the basis for any dispute settlement. The re-inspection costs shall be advanced by the owner. If the re-inspection result is in conformity with the delivery quality standards, the relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the owner; if not, relevant fees (including but not limited to the inspection fees, traveling expenses, storage fees) as well as any losses incurred thereby shall be borne by the factory warehouse.

Where the factory warehouse consigns commodities to the owner at a speed no higher than the daily consignment speed but the owner fails to pick up the commodities due to its transportation capability or other reasons, the owner shall pay late fee to the factory warehouse. The late fee is calculated as follows:

from the start date of the pick-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the pick-up is carried out after expiry of the pick-up period (exclusive of the expiry day) and within nineteen (19) calendar days (inclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse, and the factory warehouse shall nevertheless assume the liability related to the commodity quality, consignment time and consignment speed pursuant to the futures standards, until all the futures commodities have been consigned.

The late fee shall be calculated as follows:

from the expiration date of picking-up period (inclusive), the late fee for each day shall be product of the quantity of the goods that should have been picked up on that day and the corresponding late fee standard; and

as of the day when the picking-up is completed (exclusive), the aggregate late fee owed to the factory warehouse by the owner shall be the sum of the late fees for each day.

The late fee standard shall be CNY 2/Ton*Day.

If the owner picks up the commodities at the factory warehouse after nineteen (19) calendar days (exclusive of the nineteenth calendar day) following deregistration of the standard warehouse receipt (exclusive of the deregistration day), the owner shall pay late fee to the factory warehouse as calculated in the following formula, and the factory warehouse shall assume no liability related to the commodity quality, consignment time and consignment speed under the futures standards.

Amount of late fee = CNY 2/Ton*Day × Quantity of all the commodities × 19 Days

Where the factory warehouse fails to consign commodities according to the required daily consignment speed but completes the consignment of all the commodities on time, the factory warehouse shall compensate the owner.

Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities which should have been consigned as per the required daily consignment speed × 5%

Where the factory warehouse fails to complete the consignment of all the commodities on time, it shall compensate the owner in addition to the compensation provided in Article 38 hereof. Amount of compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 5%. The following procedures shall also be followed in case of such failure:

the Exchange will provide to the owner the physical commodities of the same quality and quantity in other factory warehouses or other places and will bear all the costs and expenses arising out of or in connection with change of delivery site and the delayed consignment; or

the Exchange will refund to the owner the payment of the commodities and compensate the owner if it fails to provide the abovementioned commodities.

Amount of refunded payment of commodities and compensation = One-off delivery settlement price of the last delivery month of such commodity × Quantity of the commodities that should have been consigned according to the total quantity of the commodities × 120%

In the event of any default of the factory warehouse described in Article 38 or 39 hereof, the factory warehouse shall pay the compensation to the owner first. Where the factory warehouse fails to pay the compensation in whole or in part, the Exchange will handle such situation subject to the relevant provisions in the Measures for Standard Warehouse Receipt Management of Dalian Commodity Exchange.

Chapter IV Supplementary Provisions

Any violation of the Detailed Rules shall be handled by the Exchange subject to the applicable provisions of the Measures against Rule Violations of Dalian Commodity Exchange and other rules.

The Exchange reserves the right to interpret the Detailed Rules.

The Detailed Rules shall come into force on July 1, 2019.

Annex 1: Polypropylene Delivery Quality Standard of Dalian Commodity Exchange (F/DCE PP001-2014) (Omitted)

Annex 2: List of Delivery Warehouses Designated for Polypropylene of Dalian Commodity Exchange (Omitted)

Disclaimer: This English translation may be used for reference only. In case there is any discrepancy between the English version and the original Chinese version, the original Chinese version shall prevail. Dalian Commodity Exchange may change or update this English translation without any prior notice and shall accept no responsibility or liability for damage or loss caused by any error, inaccuracy, misunderstanding, or change with regard to this English translation.