User Agreement

matters need attention

 1.Trading in gold and silver involves potential profits and losses; if trading conditions turn unfavorable, losses may exceed the initial margin. Price fluctuations in gold and silver trading are influenced by a variety of global factors, many of which are difficult to predict. Sudden price swings in gold and silver may result in losses for investors upon settlement of their positions. Hong Kong Jun'an International Financial Limited continuously monitors market conditions and periodically disseminates global information that may affect gold and silver price movements; however, it does not guarantee the accuracy of such information, nor does it guarantee that any trader will achieve profits or avoid losses, nor does it guarantee that losses will not exceed a specified amount. Investors should be fully aware that any profits or losses arising from their trading are solely the responsibility of the investors themselves.

2. Please carefully read the entire agreement before signing this agreement.

Customer Complaint

This Agreement is legally binding; please review it carefully.

This legal agreement is entered into jointly by Junan International Financial Limited (hereinafter referred to as "Junan International"), a limited company incorporated under the laws of the Hong Kong Special Administrative Region, and its successors or assigns, with the "Client" referred to in this document. With respect to opening an account with Junan International to engage in speculation and/or the purchase and/or sale of spot precious metals (hereinafter referred to as "OTCGOLD") through the precious metals over-the-counter (OTC) market, the Client confirms that it has taken full cognizance of the following factors relating to leveraged OTCGOLD trading, as well as the risk disclosure statement provided to it.

(1) OTCGOLD trading is only suitable for professional institutions or individuals with extensive investment experience who can afford the potential loss of value exceeding the value of their guarantees or deposits.

(2) OTCGOLD's business does not require public price quoting. Although many over-the-counter transactions rely on computer-based systems to provide both quoted and actual prices, these two types of prices may diverge due to insufficient market liquidity. Many electronic trading facilities, which utilize computer-based systems to support order placement, execution, and matching, are therefore susceptible to system failures.

(3) In the OTC GOLD market, the Company does not limit its trading activities solely to exchange-based transactions. For clients, the Company, Junan International, may serve as a counterparty in numerous precious metal transactions. In such cases, the circumstances—including position liquidation, valuation, determination of fair value, or the coverage of valuation-related risks—may differ. Given these factors, such transactions may entail greater risks. OTC transactions may be subject to less regulation or fall under different regulatory frameworks. Before commencing such transactions, clients should familiarize themselves with the applicable regulations and relevant risks.

(4) If a customer engages in transactions on any electronic marketplace, the customer shall face risks associated with such electronic trading system, including failures of hardware or software. Such system failures may result in the customer's orders failing to be executed in accordance with their instructions, or becoming unexecutable.

Disclaimer:

1. Internet Risks

The operation of the interconnects falls outside the scope of control of Junan International; therefore, Junan International cannot guarantee the reliability of the signals received and transmitted via the interconnects, nor the structure or connectivity of the client's electronic devices. Junan International shall not be held liable for any errors or delays arising from communication failures during transactions conducted via the interconnects.

2. Market Insurance and Online Trading

Trading in precious metals entails considerable risk and may not be suitable for every investor. Please refer to the risk disclosure statement and this Agreement for detailed information regarding these risks. While such trading may offer significant convenience or greater efficiency to clients, it does not mitigate the inherent risks associated with precious metals trading. Consequently, clients must be prepared to assume these risks prior to engaging in such trading.

3. Password Protection

The Client shall keep its password confidential and ensure that no other persons have access to such password or use it to log in to its trading devices to perform any operations. The Client agrees to be solely liable for all instructions transmitted via email or electronic trading platforms, as well as all instructions sent to Junan International via email, electronic trading platforms, telephone, or in writing, even if such instructions are issued from the trading devices commonly used by the Client itself, and such instructions have been authenticated using the Client's password, signature, and account number; provided that Junan International, in its judgment, considers such instructions to constitute apparent authorization on the part of the Client. Junan International shall not be liable for conducting further verification of such apparent authorization, nor shall it be liable for any consequences arising from actions taken or not taken pursuant to such apparent authorization. The Client shall bear sole responsibility for the confidentiality, security, and proper use of its password.

4. Incorrect quotation

In the event that any quotation or execution price is incorrect, Junan International shall not be held liable for any resulting inaccuracies in account balances. Such errors may include, but are not limited to: erroneous quotations by liquidity providers, execution price errors arising from the client's own actions, quotations based on non-market prices, or any other quotation errors (e.g., caused by hardware, software, communication line, or system failures, or due to the provision of erroneous external data by third parties). Junan International shall not be liable for any errors in account balances arising from the aforementioned circumstances; clients should be aware that there is a required time interval for order execution or margin calculation via the system. If the execution price of an order, or the order parameters, are too close to the prevailing market price, this may trigger the execution of other orders (of all types) or generate a margin warning. Junan International shall not be held liable for margin warnings, account balances, or account positions arising from insufficient time available for order execution or system calculations. The foregoing shall not be construed as exhaustive; in the event of any quotation or execution error, Junan International reserves the right to make necessary corrections or adjustments to the relevant accounts. Any disputes arising from such quotations or execution errors shall be resolved at the sole discretion of Junan International.

5. Set scale

Network latency, quote discrepancies, or vulnerabilities in quoting systems may occasionally prevent the quoting mechanisms on Junan International's trading platform from accurately reflecting real-time market prices. "Arbitrage" and "scalping" —or any other profit-seeking activities based on price differentials arising from network latency—shall not be permitted within the over-the-counter trading environment where clients trade directly with market makers. Junan International does not permit clients to engage in such arbitrage activities on its trading platform. Any client's price-based trading activities exploiting potential opportunities for "arbitrage" or "scalping" may be terminated. Junan International reserves the right to make necessary corrections and adjustments to accounts involved in such transactions. Junan International may, at its sole discretion, require the risk management control department to intervene, approve or disapprove all orders placed by a client, or close such client's account, without prior notice to the client. Junan International shall resolve disputes arising from "arbitrage,"  "scalping," or price manipulation at its sole discretion. Junan International also reserves the right to freeze a client's withdrawal funds until such disputes have been fully resolved. No action or resolution taken hereunder shall prejudice or waive any rights or remedies available to Junan International against the client and its employees.

6. Price manipulation, execution manipulation, and platform manipulation

Junan International strictly prohibits any form of manipulation of its prices, execution, or platform. Should Junan International have reasonable grounds to suspect that any account is engaged in such manipulation, it reserves the right to conduct investigations and audits of such accounts, and to deduct from the suspected accounts any profits derived from such activities as well as all promotional benefits already granted by the platform. Junan International also reserves the right to make necessary corrections or adjustments to such accounts. With respect to accounts suspected of engaging in manipulation, Junan International may, at its sole discretion, require the risk management and control department to intervene, approve order executions, or terminate the trading accounts of the relevant clients. Junan International shall resolve any disputes arising from such manipulation or fraudulent activities at its sole discretion. Junan International may, at its discretion, decide to report such incidents to any relevant regulatory or law enforcement authorities. No action or decision taken herein shall exempt or prejudice any rights or claims for compensation held by Junan International against its clients and its employees.

Settlement of transaction funds

When conducting precious metal transactions—whether buying, selling, or executing delivery—the relevant funds are settled directly through the client's trading account opened with Junan International.

Counterparty credit risk

We cannot guarantee the creditworthiness of our clients' counterparties. Junan International will make every effort to conduct transactions only with institutions and clearing houses that possess a solid reputation and are reliable. Furthermore, due to insufficient market liquidity, trading in precious metals may be suspended, which could prevent clients from promptly closing losing positions, potentially exposing them to relative losses.

Margin Policy

Junan International's margin policies may require clients to provide additional funds to maintain their margin accounts, and clients are obligated to comply with such margin requirements. Failure to do so may result in the system automatically executing liquidation actions when the minimum margin requirement of 30% is triggered, leading to corresponding losses that may exceed the account's margin balance. Junan International also reserves the right to refuse to accept orders or to provide market hedging.

Disclaimer Not Recommended by the Employer

If any employee of Junan International provides customers with any information or advice regarding precious metals, Junan International cannot control or guarantee the accuracy and completeness of such information, and Junan International shall not be held liable to customers for any losses arising from the use of such information or advice.

Account Management Restrictions

Junan International does not permit clients to authorize any third party to manage or trade their margin accounts. Should any losses arise from a client entrusting their margin account to another party for trading, the client shall bear all associated risks independently, and Junan International shall not be held liable for any losses incurred by the client.

Legal and Compliance Requirements

Junan International is a licensed broker under license No.067 of the Hong Kong Gold Exchange. Spot gold and silver investment products are compliant investment products in Hong Kong and are operated in accordance with Hong Kong laws and regulations; however, they may not comply with the laws and regulations of jurisdictions outside Hong Kong. Investors should exercise caution when investing. Clients shall fully comply with applicable local laws and regulations, including obtaining the necessary consent from government authorities or relevant regulatory agencies to comply with any other requirements applicable in the relevant region or jurisdiction, and shall bear any applicable local taxes, customs duties, and other fees incurred in connection with transactions conducted via the Junan International platform. Transactions conducted by a client on the Junan International platform shall be deemed as a declaration and guarantee by the client that it has complied with the local laws and regulations. Should a client have any questions regarding these matters, it is advisable to seek legal and other independent professional advice prior to opening an account and commencing trading.

Investment Risk Awareness

Customers must be clearly aware that investing involves risk, and that such investments carry the possibility of either profit or loss. Furthermore, Junan International shall not be liable for any representations or warranties made by Junan International, its employees, and/or its affiliates.

Customer Agreement

Junan International may permit a client to open a trading account and may periodically provide the client with information regarding the buying and selling of OTCGOLD (as defined in the client's disclosure statement); such transactions may be conducted directly or indirectly through the client's trading account. Note: Junan International does not permit a client to open multiple accounts using different identification documents. The client must ensure the authenticity of the provided information; if it is discovered that multiple accounts belong to the same individual, Junan International reserves the right to directly freeze the funds in such related accounts, disable the trading functions of such related accounts, or initiate compulsory account closure procedures, without prior notice. As an investment product, the client's trading account shall be held and traded by the client themselves.

The Customer shall provide the following consent:

1. Vocabulary Definitions and Headings

(1) The term "Junan International" shall include Hong Kong Junan International Financial Limited, as well as its succession and transfer. The term "Client" shall refer to any party executing this Agreement. If the Client is a natural person, this term shall include the Client themselves, their executor, and their estate manager; if the Client is a limited company, this term shall include the company itself and its succession; if the Client is a partnership, this term shall include the partnership at the time the Client's account remains in effect, its executor, and its estate manager. The term "Agreement" shall refer to any agreement or authorization entered into and from time to time amended between the Client and Junan International concerning the opening, maintenance, and operation of the account (or other accounts), including, but not limited to, this Client Agreement, the Risk Disclosure Statement, the Client Acknowledgement, and the Account Opening Application Form, and conferring any power upon Junan International. The headings of the paragraphs in this Agreement are included for ease of reference only and shall not limit or affect the application or meaning of the provisions of the paragraphs.

(2) "Basic Guarantee" refers to the funds deposited by the client in its trading account, primarily used as margin for new positions. Such guarantees must be deposited with the broker at the time of or prior to placing a buy or sell order, serving as collateral for all spot transactions.

(3) "Additional Margin Call" refers to the situation where, due to adverse fluctuations in market prices, a trader may issue a reminder or request to replenish margin in a margin account if such fluctuations result in a loss in the margin account. When the prepayment ratio in a margin account triggers the minimum margin requirement of 30%, the system will forcibly liquidate the margin account, and the resulting loss may exceed the available funds in the margin account.

(4) "One day" refers to any day on which a Hong Kong-registered bank opens for business.

(5) "Working day" means any day other than a public holiday as announced in the Official Gazette (excluding Saturdays and Sundays).

Beijing time:

Winter hours: 7:00 – 6:59 the following day

Daylight Saving Time: 6:00 – 5:59 of the following day

2. Binding Force

This Agreement (including the Insurance Disclosure Statement, the Customer Acknowledgment, this Customer Agreement, and the Account Opening Application Form) shall remain in full force and effect, and shall cover all accounts that the Customer opens or re-opens at Junan International at any time, irrespective of any changes in the ownership, control, or management of Junan International or its affiliates, whether arising from merger, acquisition, or other similar events. In the event of such events, this Agreement (including any authorizations therein) shall be adapted to the interests of Junan International or its affiliates, and shall remain binding upon the Customer, its heirs, successors, agents, legal representatives, and any party to its inheritance, assignment, or transfer.

3. Acceptance of Agreement

This Agreement shall only be deemed to have been accepted by Junan International, or to constitute a binding agreement mutually agreed upon between the Client and Junan International, once Junan International has confirmed and approved the Client's account opening application.

high-risk investment

4.1. Customers should be aware that precious metals trading, which is based on risk management, is one of the relatively high-risk investment instruments in financial markets and is suitable only for experienced professional investors and institutions. The trading accounts opened with Junan International allow customers to engage in precious metals trading with high leverage (up to 100 times or more of the customer's account assets; such leverage ratios may be subject to periodic adjustment by Junan International or in accordance with other applicable regulations).

4.2. All accounts opened with Junan International are traded under a floating spread regime, and the spread costs may be adjusted at any time depending on market conditions. An increase in spread costs may lead to a reduction in the prepayment ratio, which could result in forced liquidation, including in cases where positions have already been locked (even locked positions cannot entirely eliminate risk; for instance, if the prepayment ratio approaches a critical threshold, widening spreads and increased overnight interest rates may reduce both the net asset value and the prepayment ratio, potentially triggering forced settlement of orders).

4.3. Before opening an account or engaging in precious metals trading, the client shall carefully assess the risks they can bear and be aware that funds used for speculative purposes in precious metals trading constitute high-risk investment principal.

4.4 The Client warrants and represents that, even in the event of significant losses in precious metal trading, such losses will not have any adverse effect on its current or future lifestyle or financial position.

4.5. If the Client has no prior experience investing in high-risk investment products, the Client shall, prior to executing any formal transactions, acquire knowledge and understanding of precious metals trading and seek relevant professional advice. The Client shall be aware that precious metals trading entails potential profits and losses, and that, in adverse market conditions, such losses may exceed the amount of the initial guarantee.

4.6. When engaging in precious metals trading, the client must confirm that the funds invested in such trading constitute pure risk capital, and that any loss from such funds will have no adverse effect on the client's current or future lifestyle or financial position.

5. Risk Identification

The client confirms that investing in leveraged transactions is speculative in nature and entails significant risk; such investments are only suitable for individuals capable of bearing risks exceeding their guaranteed loss protection.

The client understands that, given the generally lower margin requirements for OTCGOLD transactions, leverage ratios can be relatively high; consequently, price fluctuations in OTCGOLD may result in significant losses, which could exceed the client's investment principal and the funds in their margin trading account.

Prior to opening an account or conducting any transactions, the Client shall have a clear understanding of the transaction characteristics and the associated risk levels, and shall ensure that it is willing and financially capable to bear all risks arising from its use of OTCGOLD. The Client hereby agrees not to hold Junan International liable for any transaction losses resulting from the following: adherence to transaction recommendations or advice provided by Junan International, its employees, or its representatives.

The Client acknowledges that the OTCGOLD transaction provides no guarantee of principal protection or profit. The Client further acknowledges that it has not obtained such guarantees from Junan International, nor from any of its employees, representatives, or agents, nor from any other entity with which it has conducted transactions with Junan International, and has not entered into this Agreement pursuant to any of the aforementioned guarantees.

6. Exchange Rate Fluctuation Insurance

The trading accounts of Junan International shall be denominated in US dollars or other currencies that the Company may from time to time agree upon; if a client makes deposits or withdrawals in any currency other than US dollars:

(1) The Client shall unconditionally bear any gains or losses arising from fluctuations in exchange rates;

(2) The Client agrees that Junan International may, at its sole discretion, conduct any currency exchange at any time and in any form, in order to carry out any action or step it may take pursuant to this Agreement.

7. Agreement Confirmation and Collection Procedure

When a client applies to open an account via the official website or mobile application of Junan International, if the client checks the box stating "I have read and agree to the Privacy Protection Regulations and the User Agreement," it shall be deemed that the client has fully become aware of, understood, and accepted all terms and conditions of this Agreement; such selection shall have the same legal effect as a written signature.

Once the account opening is successfully completed, Junan International will no longer mail the client agreement; instead, clients must personally visit the company to collect the agreement or apply for an electronic version.

8. Customer Representations and Warranties

(i) Be of sound mind, have reached the account-opening age prescribed by Junan International, and possess legal capacity;

(ii) Only the customer themselves shall enjoy the benefits of their account;

(iii) Regardless of any subsequent contrary ruling, provided that, other than as set forth in (1), the customer possesses sufficient investment experience, as well as the risk-bearing and financial capacity to engage in OTCGOLD transactions;

(iv) The Client shall not be employed by any exchange, any company in which any exchange holds the majority of its capital, any member of any exchange and/or any company registered with any exchange, any bank, trust institution, or insurance company; if the Client is employed by any of the foregoing entities, the Client shall promptly notify Junan International in writing;

(v) All information provided by the Client (up to this date) is true, accurate, and complete. Should any information change, the Client shall promptly notify Junan International.

(vi) Shall not engage in any activity aimed at scalping or "skinning".

9. Transaction Authorization

Junan International only permits its clients to conduct transactions personally; it does not permit clients to authorize others to operate their trading accounts on their behalf.

10. Regulations Governing the Government, Competing Agencies, and the Interbank System

All transactions under this Agreement shall be governed by the charters, rules, regulations, provisions, customs, practices, judgments, and interpretations of the counterparty to the transaction or other interbank market (including its clearing organizations, where applicable), and shall be subject to all applicable laws of Hong Kong.

Any subsequent statute, or any provision adopted by any government agency, or any provision that may affect or conflict with this Agreement, shall be deemed to have been amended or superseded by the relevant statute or provision; all other provisions, as well as the amended provisions, shall remain fully in force.

The Client acknowledges that all transactions under this Agreement are subject to the aforementioned regulatory requirements, and the Client does not hold any independent contractual rights with respect to such requirements.

11. Account Settlement and Debt Repayment

In the event that any of the following circumstances arise:

(1) The policyholder has died, suffered a mental disorder, or has been declared legally incapacitated;

(2) The customer applies for bankruptcy, appoints a trustee, or initiates any legal proceedings in court against the customer relating to bankruptcy, liquidation, or other similar legal processes;

(3) Any of the customer's assets is taken over by a trustee or persons holding a similar position, or is subject to any seizure or enforcement of any judgment;

(4) Regardless of the prevailing market quotes, the customer's account margin balance is insufficient;

(5) The Client fails to provide Junan International with any relevant information (such as identification documents) required pursuant to this Agreement; or

(6) In any event or upon any change in circumstances where Junan International deems it necessary to take protective measures, Junan International shall have absolute discretion to decide whether to take one or more of the following actions: ① using funds or property held or controlled by Junan International on behalf of a client to settle debts owed by the client to Junan International; ② buying or selling any precious metal positions held by Junan International in the client's account; and ③ canceling any or all outstanding orders, or any other commitments made in the name of the client.

The adoption of any of the aforementioned actions shall not be subject to the following conditions: namely, the requirement to provide a margin or a margin call, or the prior notification of the trading decision to the client, the client's personal representative, heirs, authorized persons, assignors, or similar parties, regardless of whether the relevant rights and interests are exclusively held by the client.

Pursuant to the absolute discretion of Junan International, the transactions described herein may be conducted through any interbank or other trading market in which business is routinely conducted, and Junan International may acquire all or part thereof without being subject to any redemption rights. When Junan International makes such requests to a client, the client shall, at any time, be liable for the debts in its account; and if its account is liquidated in whole or in part by Junan International or by the client itself, the client shall, at any time, be liable for the remaining outstanding amounts.

If the funds realized upon liquidation pursuant to this Authorization are insufficient to settle the debts owed by the Client to Junan International, the Client shall immediately settle the outstanding amounts, all remaining debts, and the corresponding interest, as well as all collection fees, including legal fees, witness fees, and other related expenses. Junan International shall also reserve the right to pursue further claims.

12. Margin and Deposits/Withdrawals

1. The Client shall understand and agree that Junan International holds the sole right to designate the guarantee requirements, which Junan International may amend at any time in accordance with market conditions. The guarantee amount may be higher or lower than the requirements of other financial institutions.

2. The Client agrees that, upon the requirement by Junan International to provide additional funds, the Client shall immediately and promptly satisfy all requirements under the margin call notices by making deposits as required by Junan International; all costs associated with such deposit procedures, including bank handling fees, exchange rate spreads, and other related expenses, shall be borne by the Client. The Client may not be permitted to use the newly deposited margin as margin for new positions, nor may it be permitted to use it as additional margin. The Client further agrees to bear any losses resulting from the forced liquidation due to failure to satisfy the additional margin requirements in a timely manner, such losses potentially exceeding the Client's initial margin, i.e., all funds held in the Client's account.

3. Junan International may, at any time, compel a client's account to be liquidated pursuant to the provisions of this Agreement; however, the fact that Junan International does not exercise such right shall not constitute a waiver thereof. Any prior guarantee requirements set by Junan International shall not preclude Junan International from imposing such requirements without prior notice.

4. The Client has the right to notify Junan International at any time to withdraw designated available margin balances; the Client agrees that all costs associated with any remittance or transfer process—including bank handling fees, exchange rate spreads, and any other related expenses—shall be borne by the Client. The Client fully understands that Junan International may require time to process such withdrawal requests, and the Client may not receive the withdrawn amount in real time. The Client agrees not to pursue any liability against Junan International arising from the failure of Junan International to promptly fulfill the Client's withdrawal requests. Once a Client's withdrawal request is confirmed, Junan International will deduct the specified amount from the Client's account balance in real time.

5. The Client shall ensure that the designated current and deposit bank accounts belong to the Client; Junan International shall not accept deposits or withdrawals from bank accounts not held in the name of the Client.

13. Communication and Liaison

Reports, statements, notices, and other communications may be delivered to the email address and online login credentials provided by the Client at the time of account opening, or to the email address updated by Junan International. Any such communication, whether via email or any other medium, once received by the sending party, shall be deemed to have been sent by Junan International, and shall be deemed to have been delivered to the Client, regardless of whether the Client actually receives it.

14. Email address verification

Should the customer's email address be changed, the customer shall promptly notify Junan International of such changes.

15. Electronic Transaction Confirmation

The Client agrees that its account information and transaction confirmations may be provided via the Junan International platform; the Client may access its account details through either the Junan International platform or its online personal account.

16. Termination

This Agreement shall remain in force until its termination.

16.1 Termination by Client / Termination by Junan International

A client may terminate this agreement at any time, provided that at such time the client does not hold any open spot precious metal positions and owes no liabilities to Junan International. The client may terminate the account by submitting a closure request via the Junan International App, or by submitting a written termination agreement in accordance with the requirements; or, at any other time, Junan International may request the client to terminate the agreement—whether via written notice, email notification, SMS notification, App push notification, or if Junan International's risk control department determines that the client fails to meet the requirements of Junan International's KYC certification process, fails identity verification, fails risk assessment, or fails AML (Anti-Money Laundering) identification. In such cases, Junan International shall directly prohibit access to and transaction activities on the account.

16.2 Termination Agreement

This shall not affect any transactions previously entered into, nor shall it discharge any obligations of either party under this Agreement, nor shall it relieve the Client of any liability.

17. Amendment to the Agreement

The Client agrees that Junan International may, from time to time and at its sole discretion, amend, rescind, or replace any provision of this Agreement, or add any new provisions; Junan International shall update such amendments or changes directly on its official website at www.jrjr.com and via its mobile application, without prior notice or the publication of a separate notice of such amendments, and the Client shall periodically review the amended provisions and agree to be bound by such amendments.

18. Information

The Client agrees that: (1) any market information provided to the Client by Junan International or its employees does not constitute investment advice, an offer or invitation to purchase or sell OTCGOLD contracts, or an invitation to purchase or sell OTCGOLD positions; (2) such information, although based on sources deemed reliable by Junan International, may be based entirely on the personal views of a particular employee, and therefore may be incomplete or even unverified; (3) Junan International makes no representations or warranties regarding the accuracy or completeness of any information provided to the Client, and assumes no liability thereunder.

19. No guarantee of profit or limitation of loss

The Client confirms that it has not entered into any unilateral agreement with any employee of Junan International, its agents, brokers, or any third party regarding its Junan International account transactions, including, but not limited to, any agreement guaranteeing account profitability or limiting potential losses. The Client agrees to have the obligation to promptly notify Junan International in writing of the details of any such unilateral agreement. The Client further agrees that, if any statement made regarding its trading account differs from the representations provided by Junan International, the Client shall promptly draw Junan International's attention to such discrepancy in writing.

20. Liability of Junan International

Junan International shall not be liable for any delay in the transmission of instructions arising from failures in its transmission or communication facilities, electrical short circuits, or any other cause beyond its control or foresight. Junan International shall be liable only for acts directly resulting from its intentional misconduct or fraud; it shall not be liable for losses arising from other faults.

21. Compensation

The Client agrees that if Junan International incurs any debt, loss, damage, cost, or expense (including legal fees) due to the Client's failure to fully and timely fulfill its obligations, or due to any of its statements or representations being untrue or incorrect, the Client shall provide all necessary compensation to Junan International and ensure that Junan International is not adversely affected. The Client further agrees to pay to Junan International any damages, costs, and expenses (including legal fees) incurred by Junan International in enforcing any provision of this Agreement or any other agreement entered into between Junan International and the Client.

Furthermore, if the loss arises from: (1) the conduct of the Client: the Client's own actions, errors, or omissions; (2) forged signatures: any forged signatures or unauthorized signatures on any account or on any documents relating to this Agreement; (3) failures: system failures, equipment failures, system interruptions, or operational failures of the Client or Junan International; (4) delays: any delay, failure, or error occurring by Junan International in executing any instructions issued by the Client; and (5) information: the Client may provide incorrect or incomplete instructions, and Junan International shall not be liable for any such circumstances nor shall it be liable for any resulting loss.

22. Financial Position

The Client hereby declares and represents that its financial position is sound. Prior to commencing precious metal trading, the Client has carefully considered the risks associated with such trading and is fully aware of the portion of its existing assets that may constitute risk capital.

The Client hereby guarantees and represents that, even if it incurs losses in precious metal trading, such losses will not alter its way of life. Should the Client's financial position change such that its risk capital is reduced, the Client agrees to promptly notify Junan International.

23. Credit Status

The Client authorizes Junan International, or its employees, to act on behalf of Junan International to investigate the Client's creditworthiness and to identify and determine suitable (or all) banks, financial institutions, and credit agencies relevant to the Client's profile. The Client may further authorize Junan International to investigate its current and past investment activities.

Furthermore, Junan International may, based on the credit standing of its clients, require such clients to provide necessary supporting documents (including, but not limited to, recent tax returns and proof of income) in order to periodically review the trading limits of its clients and/or approve applications for the increase of such trading limits.

24. Exemption or Amendment

No provision of this Agreement shall be waived or amended by the Client, unless such waiver or amendment is made in writing and jointly signed by the Client and Junan International. In no event shall Junan International's failure to assert its rights under this Agreement during any course of dealings between the parties, or under any other circumstances, be construed indirectly as a waiver of such rights. No provision or instruction in this Agreement shall be recognized or enforced.

sound recording

The Client agrees that Junan International may make such recordings for the purpose of serving as reliable evidence of recorded instructions or communications. The Client further agrees that, in the event of any dispute or litigation involving either the Client or Junan International, such recordings may be admissible as evidence. The Client understands and agrees that Junan International shall periodically delete such recordings in accordance with its established operational procedures.

26. Personal Data Privacy Policy

The Personal Data Privacy Policy of Junan International is formulated in accordance with the Personal Data (Privacy) Ordinance to protect the rights and interests of its clients. When Junan International uses client data to provide its best possible services, it also places great emphasis on the arrangements governing such use of client data. In compliance with the provisions of the Personal Data (Privacy) Ordinance of the Hong Kong Special Administrative Region, Junan International strives to fully meet the requirements for the protection of personal data. To this end, Junan International ensures that its employees adhere to the stringent security and confidentiality standards prescribed by law.

(1) The personal data collected by Junan International shall be used solely for the purposes of Junan International's business operations and other related activities;

(2) Junan International is committed to ensuring that its website is secure and complies with industry standards, and employs additional safeguards—including firewalls, authentication systems (e.g., passwords and personal identification numbers), and access control mechanisms—to prevent unauthorized access to the system and data.

(3) Junan International shall keep customers' personal data confidential and store such data in a secure manner to prevent unauthorized use; furthermore, employees of Junan International shall respect the privacy of customers and shall under no circumstances disclose any such data to unauthorized persons;

(4) The Client may from time to time review and amend the personal data concerning them held by Junan International;

(5) The Client agrees that Junan International shall, in accordance with any applicable laws or the requirements of any regulatory authority, disclose all of the Client's information (and other relevant information) to regulatory authorities and other government agencies;

(6) The Client agrees that, pursuant to the arrangements set forth in the Online Payment System Policy, Junan International shall disclose the Client's personal data to the relevant institutions as proof of identity verification whenever the Client makes deposits or withdrawals via the payment gateway;

(7) Junan International may set up and access cookies on customers 'computers to assist Junan International in analyzing and assessing the effectiveness of its marketing promotion strategies. Junan International and its employees may also use cookies on Junan International's products and services to track customers 'browsing activity on Junan International's website; the data collected and shared in this manner will not contain identifiable information and cannot be individually identified.

(8) The Client agrees that, when Junan International provides services to the Client, Junan International may authorize certain companies not affiliated with Junan International to use the Client's personal data, including companies that, under contractual arrangements, provide services on behalf of Junan International (e.g., companies developing or maintaining software for data processing). Such authorized companies shall maintain the confidentiality of the Client's personal data. Junan International will make every effort to ensure that the Client's personal data it collects is properly stored in its storage systems, and that only authorized employees or representatives of Junan International may access such data; however, given the public and global nature of the Internet, Junan International may be unable to protect and maintain the confidentiality of the Client's personal data against intentional misuse by third parties. Personal data of a Client accessed via web pages operated by third parties shall not be covered by Junan International's personal data privacy provisions.

27. Consent of the jurisdiction and the place of jurisdiction

Junan International shall have the full right to exercise its absolute discretion to determine that any dispute, contention, claim, or event arising from or in connection with this Agreement, including the termination or invalidity of this Agreement, shall be resolved through arbitration conducted by the then-effective Arbitration Rules of the Hong Kong International Arbitration Centre (HKIAC), with one arbitrator appointed by HKIAC. The arbitration proceedings shall be conducted in English.

28. Arbitration Agreement

If the Client agrees to this arbitration agreement, the Client: (1) waives its right to initiate legal proceedings before a court, including the right to a jury trial; and (2) agrees to be bound by any claims and counterclaims arising under this Agreement, whether brought by the Client or by Junan International, in respect of arbitration. The Client may also open an account with Junan International without agreeing to be bound by the provisions of this arbitration agreement.

29. Governing Law and Judicial Jurisdiction

This Agreement and the corresponding rights and obligations thereunder shall be governed by the laws of the Hong Kong Special Administrative Region, and shall be interpreted and performed in accordance with such laws; provided that no such laws shall conflict with or otherwise prejudice the application of any provisions hereof. This Agreement, together with the account opening application form and the relevant annexes, shall constitute the entire and definitive agreement between the Parties. This Agreement shall supersede all prior written or oral agreements relating to the subject matter of this Agreement, including leveraged spot precious metal trading, that have been executed or undertaken by either Party.

30. Closure of Trading Account

For a trading account held by a distributor, the trading records will be cleared; Junan International does not require prior notice, nor does it need to retain any trading records. The following are the methods available to Junan International for closing existing trading accounts:

(1) The customer proactively applies to close the account.

(2) Trading accounts that have been suspended due to the provisions of clause 15 above ("Termination").

(3) If a trading account has no login records for more than 90 days, it is assumed that the customer has abandoned the use of that trading account.

Customer Notice

1. Capital Injection

(1) Customers may deposit funds into their trading accounts via the funding options available on our company's website.

(2) Unless Junan International has verified and confirmed receipt of the customer's capital injection funds, Junan International will be unable to process the capital injection for the customer.

2. Withdrawal

(1) Prior to the first withdrawal, the customer must submit both the front and back of their color ID card and a color image of their bank card to Junan International, and successfully complete the facial recognition process via the system; otherwise, the Company will not process the customer's withdrawal request.

(2) In the event that the processing of funds is due to reasons beyond the control of Junan International, such circumstances are not foreseeable; nevertheless, the client is likely to receive the withdrawn amount within two hours. Please refer to Clause 11 of the Client Agreement, "Guarantee of Deposit and Withdrawal Arrangements."

3. Exchange Rate

All USD deposits shall be converted into USD. If a client wishes to withdraw in RMB, Junan International will convert the USD into the client's designated currency at the prevailing market exchange rate on the relevant date. If a client wishes to withdraw in HKD, the Company will convert the USD into HKD at a fixed exchange rate of 7.8. The Company reserves the right, in accordance with market conditions, to adjust the aforementioned exchange rates without prior notice to the client.

4. Transaction Code

(1) Junan International provides trading codes; customers may independently enable or disable this feature in their account user center. Once a customer has successfully opened an account, the functions for retrieving opening position trading codes and closing position trading codes will not be enabled by default.

(2) Junan International provides free opening position trading codes; fees for closing position trading codes are charged at a rate of USD 0.5 per lot.

(3) The trade code for position opening/closing and the order number of the corresponding client are unique and non-repeating.

5. Open an account online

If the customer checks the boxes for the following three agreement clauses in the account opening application form on the Junan International website or via the Junan International mobile application— "I have read and agree to the *Personal Information, Financial Mobile Assessment, and Necessity*; *Key Characteristics of Spot Gold and Silver*; *Risk Factors Associated with Spot Gold and Silver*" —such selections shall have the same legal effect as this Agreement. The Company will not mail the Agreement to the customer; instead, the customer must personally visit one of our offices to sign and collect the original copy of the Agreement.

6. Junan Wallet

Junan Wallet is a secure and convenient customer fund management system provided by Junan International to its clients.

(1) Customers may deposit funds into their Junan Wallet, which can then be used for trading account transactions.

(2) Once the "Deposit Without Transfer" feature is enabled in your Junan Wallet, deposits will be automatically transferred to your trading account. For withdrawals, you must submit a withdrawal request through the wallet.

Customer Statement

I hereby make the following declaration

1. Legal competence

The Client has reached the age of majority, meets the age requirements for opening an account with Jinjunan International, possesses legal capacity, and is therefore legally capable of effectively executing this Agreement; the Client is of sound mind; possesses legal standing; and is not bankrupt; this Agreement, together with all agreements already entered into or to be entered into, shall constitute legally binding and enforceable obligations upon the Client.

2. Account Benefits

Only the customer themselves enjoys the benefits of their account.

3. Investment Experience

In addition to the foregoing, the client shall possess sufficient investment experience, the ability to bear risk, and adequate financial capacity to engage in OTC transactions.

4. Employment Status

The Client is currently not employed by any exchange, nor does the Client own the majority of the capital of any company, be a member of any exchange, or be a company registered with any exchange, nor be affiliated with any bank, trust institution, or insurance company. If the Client is employed by any of the aforementioned entities, the Client shall immediately provide written notice to Junan International.

5. Information Accuracy

The information provided by the Client shall be true, accurate, and complete. Should any such information change, the Client shall have the obligation to promptly notify Junan International.

6. Prohibited Activities

The customer will not engage in any activities aimed at fraud.

7. No Warranty Statement

The Client guarantees that it has not received any relevant representations from Junan International, its any employees, representatives, or agents, nor from any other clients with whom Junan International has conducted transactions, and has not entered into this Agreement based on any of the foregoing representations.

8. Authenticity of the data

The information and statements set forth in this "Junan International User Agreement" are true, complete, and accurate.

9. Liability Assumption

The Client undertakes full responsibility for the final instructions issued.

10. Data dependency

The Client hereby confirms and agrees that, unless Junan International receives a notice of an application for amendment to the relevant matters from the Client, Junan International may, for all purposes, rely entirely upon the terms and representations set forth in the "Junan International User Agreement."

11. Agreement Review

The Client understands and confirms that they have carefully reviewed the "Junan International User Agreement" and the risk disclosure statements set forth therein; and that Junan International has requested the Client to read the aforementioned risk disclosure statements, raise any questions, and seek independent advice (if the Client so wishes).

12. Clause Constraints

The Client agrees to be bound by the terms and conditions of the "Junan International User Agreement," and acknowledges and confirms that Junan International may from time to time amend the terms of this Agreement.

13. No investment advice provided

The Client confirms that Junan International does not provide any opinions or advice regarding investment, taxation, or legal matters.

14. Risk Tolerance

The client confirms that they have undergone an independent assessment, understand the product risks, and possess the corresponding risk tolerance.