1. Centralized bidding. Bidding transaction is a transaction between multiple buyers and sellers, and the seller with the lowest bid reaches a transaction with the buyer with the highest bid. Open centralized bidding means that all buyers and sellers related to securities trading are concentrated in the stock exchange for public declaration and bidding transactions. Whenever the bids of buyers and sellers are consistent, it constitutes a transaction, which is carried out continuously according to the buying and selling groups, and each buying and selling group forms a different price.

2. Price is preferred. It means that when two or more buyers (sellers) buy and sell the same kind of securities at the same time, the buyer with the highest bid should be in the priority position; The lowest bidder among the sellers shall be given priority.

Time is the most important thing. It is pointed out that when the price is the same, the first bidder will have the priority to clinch a deal.

4. The securities traded by the parties to a securities transaction may be in paper form or other forms as stipulated by the China Securities Regulatory Commission. The conditions of securities trading refer to the securities that are publicly traded in the securities market, and can only be traded if they meet the relevant conditions stipulated by law.