1、 Product Introduction

The Jinshengli delivery voucher (Jinshengli 2nd generation) is a bookkeeping physical gold bar delivery voucher product provided by China Merchants Bank, which you purchase and hold according to the agreement to obtain the gold weight gain after a certain period of time, that is, after you subscribe, you can withdraw a larger weight of physical gold bar if you delay the delivery according to the agreement. The product risk rating is R2 medium low risk.

2、 Suitable for customers

This product is suitable for customers who need to allocate physical gold bars but are not eager to withdraw money in the short term, because they can obtain gold weight gain when holding maturity, which is more cost-effective than directly purchasing physical gold bars. If you need to get physical gold bars as soon as possible, you can choose our CMB gold investment gold bar products; If you only want to invest in gold and have no clear demand for physical gold bar withdrawal, you can choose our gold account product.

3、 Excellent workmanship

The gold bars that can be extracted from this product are CMB gold investment bars, which are made of pure gold Au9999. Each product is equipped with a national quality inspection certificate, and the quality is guaranteed.

4、 Flexible choice

（1） After the product matures, it can obtain the gold weight gain, and can have the following four options as required:

1. Continue to hold: keep in the bank, safe and secure.

2. Redemption and realization: Redemption and realization can be carried out during trading hours, which is efficient and worry free.

3. Withdrawal of gold bars: CMB gold investment bars can be withdrawn, and the specific varieties are subject to the channel display.

4. Transfer to gold account: transfer to gold account according to the principle of equal weight.

（2） Before the expiration of the product, there are two options as required, but the yield of gold grams due will not be available:

1. Withdrawal of gold bars: Support withdrawal of CMB gold investment bars The specific varieties shall be subject to the channel display 。

2. Redemption and realization: Redemption and realization can be made during trading hours to meet your capital liquidity needs.

5、 Tips for purchase

1. Query on subscribed orders: Jinshengli Generation 2 product is a classic CMB gold investment gold bar delivery voucher. After successful subscription, you can log in to CMB Mobile Banking App - Gold - Position - Jinshengli Generation 2 to query subscription details. This product does not provide position valuation services.

2. Redemption and realization of products: Redemption and realization function is a service provided by our bank for customers who need to sell and realize funds urgently due to changes in physical gold bar configuration demand during the product holding period. The gold price redeemed and realized by Jinshengli Generation 2 is quoted by our bank independently with reference to the gold price in the spot market of gold. The quotation unit is yuan/gram, accurate to 0.01 yuan/gram, and the specific quotation is subject to the tradable price displayed by our channel at the time of redemption. If you redeem for cash, it will be deemed that you have waived the right to withdraw physical gold bars, and the redemption amount=position share * cash redemption price of Jinshengli Generation 2.

3. With regard to the transfer to gold account: the risk rating of the second generation product of Jinshengli is R2 (medium and low risk), and the product risk rating of the gold account is R3 (medium risk). The transfer to the gold account must meet the requirements for opening a gold account and agree to the relevant agreement on the gold account. If you choose to transfer the share of this product to the gold account, the position share of the second generation of Jinshengli products will be transferred to the current share of the gold account according to the principle of equal weight. As the gold price fluctuates with the market, and the gold price sold in the gold account is lower than the price of physical gold bars (the price of physical gold bars includes the cost of production, processing, logistics and distribution of gold bars), if you choose to transfer to the gold account after the expiration, it will be deemed that you have waived the right to withdraw physical gold bars, and please consider carefully. After you transfer to the gold account, you will enjoy the services related to gold account current products. The market value of gold share positions transferred to the gold account=shares * the current real-time selling price of the gold account, and the difference between the purchase cost of the second generation products of Jinshengli will be recorded under the position income of the gold account. After transferring to the gold account, if you subsequently need to receive physical gold bars, you need to pay an additional exchange price difference. The specific amount of the exchange price difference is subject to the channel end display.

4. Note that one order of this product only supports the redemption and realization of all positions, withdrawal of gold bars or transfer to gold account, and does not support the redemption and realization of some positions, withdrawal of gold bars or transfer to gold account. For example, when you subscribe for "CMB Jinshengli Generation II A - 101g Product", the quantity is 10, and when the withdrawal is due, you need to withdraw 10 classic CMB gold investment bars of 101g at one time. If you need to subscribe for a large number of products, it is recommended that you place orders in multiple times.

6、 Risk warning

This product is not equivalent to bank deposits. As the price of gold fluctuates with the market, you may suffer heavy losses due to market changes. You should fully understand the investment risks and invest cautiously. Before purchasing this product, please read the product agreement and product specification carefully to ensure that you fully understand and carefully assess the risks involved in this product, and fully and carefully consider your risk tolerance. If investors have any questions about the contents of this product manual, please consult the business outlets of China Merchants Bank.