Core Viewpoint - Microglow Co., Ltd. is actively engaging in risk management strategies through various financial instruments, including commodity futures hedging and foreign exchange derivatives trading, to stabilize its operational performance and enhance the efficiency of idle funds [1][2][4][11]. Trading Information Summary - On July 4, 2025, Microglow's stock closed at 33.72 yuan, down 1.92%, with a turnover rate of 5.7%, trading volume of 66,000 lots, and a transaction amount of 224 million yuan [1]. - The fund flow on the same day showed a net outflow of 35.99 million yuan from main funds, a net outflow of 14.87 million yuan from speculative funds, and a net inflow of 50.86 million yuan from retail investors [1][4]. Company Announcements Summary - The sixth board of directors held a meeting on July 4, 2025, and approved several proposals, including: - Continuing commodity futures hedging with a maximum margin of 30 million yuan and a maximum contract amount of 230 million yuan, valid for 12 months [1][6][8]. - Initiating foreign exchange derivatives trading with a maximum credit limit of 40 million yuan and a maximum contract amount of 800 million yuan, also valid for 12 months [1][9][10]. - Utilizing up to 60 million yuan of idle funds for entrusted wealth management and securities investment, with individual investments not exceeding 5 million yuan [1][11]. - Providing a credit guarantee of up to 6 million yuan for its subsidiary, Microglow (Thailand) Co., Ltd., valid for 12 months [1][7]. Upcoming Shareholder Meeting - Microglow will hold its first extraordinary general meeting of 2025 on July 23, 2025, to discuss the aforementioned proposals, with a registration deadline of July 16, 2025 [3]. Foreign Exchange Derivatives Trading Feasibility - The company aims to mitigate operational risks associated with foreign exchange rate and interest rate fluctuations, as over 50% of its products are exported and settled in foreign currencies [4][5]. Commodity Futures Hedging Feasibility - The company plans to conduct hedging activities for copper and aluminum, which are its main raw materials, to reduce the impact of price volatility on its operations [6][8]. Credit Guarantee for Subsidiary - The company intends to provide a credit guarantee for its subsidiary, Microglow (Thailand) Co., Ltd., to support its operational and business development needs [7]. Investment of Idle Funds - The company plans to invest idle funds to improve capital efficiency, with a focus on various financial instruments, including stocks, bonds, and wealth management products [11].

Core Viewpoint - The company plans to continue its commodity futures hedging business to mitigate risks associated with price fluctuations of key raw materials, copper and aluminum, which significantly impact its operations [1][4]. Group 1: Overview of Commodity Futures Hedging Business - The company aims to utilize the hedging function of the futures market to reduce operational risks arising from price volatility of copper and aluminum [1][5]. - The maximum margin requirement for this hedging business will not exceed RMB 30 million, and the maximum contract value on any trading day will not exceed RMB 230 million [1][2]. - The hedging operations will be conducted on the Shanghai Futures Exchange, and the company will not engage in off-exchange or overseas trading [1]. Group 2: Approval Process - The company's board of directors approved the continuation of the commodity futures hedging business with a unanimous vote of 9 in favor, and this decision will be submitted for shareholder approval [2][3]. Group 3: Risk Analysis - The hedging operations are designed to protect against raw material price fluctuations, allowing the company to maintain stable profit levels despite market volatility [3][4]. - Risks associated with the hedging operations include market systemic risks and liquidity risks due to margin requirements [3][4]. Group 4: Risk Control Measures - The company has established a comprehensive internal control and risk management system for its hedging operations, ensuring that speculative trading is prohibited [5]. - A reporting system for abnormal situations has been implemented to facilitate efficient risk management [4][5]. Group 5: Accounting Treatment - The company will account for its commodity futures hedging activities in accordance with relevant accounting standards, reflecting the impacts on the balance sheet and income statement [4][5]. Group 6: Feasibility Analysis and Impact - The continuation of the commodity futures hedging business is deemed feasible and beneficial for stabilizing the company's operational performance and enhancing its competitive advantage [5].

Summary of Key Points Core Viewpoint - The company plans to provide a credit guarantee of up to RMB 60 million for its subsidiary, Micro Light (Thailand) Co., Ltd, to support its daily operations and business development needs [1][2]. Group 1: Guarantee Overview - The board of directors approved the proposal to provide a guarantee for Micro Light (Thailand) on July 4, 2025, which will include various forms of bank credit such as loans, acceptances, and guarantees [1]. - The guarantee amount will not exceed RMB 60 million, and the funds can be used on a rolling basis within this limit [1]. - The proposal will be submitted for shareholder approval, and the authorization for the chairman to sign relevant documents will be valid for 12 months after approval [1]. Group 2: Financial Status of the Subsidiary - As of March 31, 2025, Micro Light (Thailand) had total assets of RMB 206.17 million and total liabilities of RMB 31.63 million, resulting in a net asset value of RMB 174.54 million [1]. - The subsidiary reported a total revenue of RMB 1.26 million for the first quarter of 2025, with a net loss of RMB 1.60 million during the same period [1]. Group 3: Board's Opinion - The board believes that providing the guarantee will help expand financing channels for Micro Light (Thailand) and meet its operational funding needs, aligning with the overall interests of the company [2]. - The financial condition of Micro Light (Thailand) is considered stable, and the company has good debt repayment capabilities [3]. - The guarantee is deemed to be within a controllable risk range, and no additional guarantees or counter-guarantees will be required from other shareholders of Micro Light (Thailand) [3].

Core Viewpoint - The company plans to utilize part of its idle funds for entrusted wealth management and securities investment to enhance the efficiency of fund usage and increase returns for the company and its shareholders [1][2]. Investment Overview - The total amount for entrusted wealth management and securities investment by the company and its subsidiaries will not exceed RMB 600 million, with a single purchase limit of RMB 50 million [2]. - The investment types include bank wealth management products, asset management plans from asset management companies, and various products issued by securities companies, fund companies, and insurance companies [2]. - The investment period is set for 12 months from the date of approval by the shareholders' meeting [2]. - The funds used will be from idle self-owned funds, without involving raised funds or bank credit [2]. - The board of directors will seek authorization from the shareholders' meeting for the chairman to make investment decisions within the specified limits [2]. Risk Analysis and Control Measures - The company acknowledges potential risks such as the unpredictability of actual investment returns and liquidity risks associated with the investment products [3][4]. - Risk control measures include establishing regulations on investment behavior, assessing and selecting suitable investment products, and diversifying investments to manage risk effectively [4]. Impact on the Company - The use of idle funds for entrusted wealth management and securities investment will not affect the normal cash flow or the main business operations of the company and its subsidiaries [4]. - The approach aims to improve the efficiency of idle funds and seek certain investment returns, aligning with the interests of the company and all shareholders [4].

证券代码：002801 证券简称：微光股份 公告编号：2025-018 杭州微光电子股份有限公司 第六届董事会第五次会议决议公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、董事会会议召开情况 杭州微光电子股份有限公司（以下简称"公司"）已于 2025 年 6 月 27 日以电子邮件等 方式向公司全体董事发出第六届董事会第五次会议（以下简称"本次会议"或"会议"）的 通知，会议于2025 年 7 月 4日以现场表决和通讯表决的方式在公司行政楼一楼会议室召开。 本次会议应出席董事 9 名，实际出席董事 9 名（其中独立董事郑金都先生、沈建新先生以通 讯表决方式出席）。公司全体监事、高级管理人员列席了会议。本次会议由公司董事长何平 先生主持，会议的通知、召集、召开和表决程序符合《中华人民共和国公司法》等有关法律、 行政法规、部门规章、规范性文件及《杭州微光电子股份有限公司章程》的规定。 二、董事会会议审议情况 经全体与会董事认真审议，表决情况如下： 1、审议通过了《关于继续开展商品期货套期保值业务的议案》； 表决结果：9 票赞成，0 票弃权，0 票反对。 ...

杭州微光电子股份有限公司 3、交易金额：公司开展商品期货套期保值业务，所需保证金最高占用额不超过人民币 3,000 万元，最高持仓合约金额（任一交易日最高合约价值）不超过人民币 23,000 万元。在 有效期内，前述额度可循环滚动使用，有效期内预计任一时点的交易金额（含前述投资的收 益进行再投资的相关金额）不超过前述最高额度。 4、交易期限：在前述额度范围内进行铜期货、铝期货套期保值业务的期限为自本事项 经股东大会审议通过之日起 12 个月内。 5、资金来源：使用自有资金，不涉及使用募集资金或银行信贷资金的情况。 关于继续开展商品期货套期保值业务的可行性分析报告 一、开展商品期货套期保值业务概述 1、投资目的和必要性：铜（漆包线）和铝（铝锭）是公司电机、风机等产品生产所需 的主要原材料，铜和铝的价格波动会对公司生产经营产生较大影响。当前国际形势复杂多变， 有色金属市场波动较大，杭州微光电子股份有限公司（以下简称"公司"）开展铜期货和铝 期货套期保值业务，目的是充分利用期货市场的套期保值功能，规避和减少因铜和铝价格波 动引起的产品成本波动带来的经营风险，符合公司日常经营之所需。公司根据铜和铝计划需 求量及相关保 ...

证券代码：002801 证券简称：微光股份 公告编号：2025-022 3、特别风险提示：委托理财及证券投资在投资过程中存在收益不确定性风险、本金及 收益不能按期收回或不能收回的风险、流动性风险、操作风险等，敬请投资者充分关注投资 风险。 一、投资情况概述 （一）投资目的 在安全第一、操作合法合规、保证日常经营及主营业务发展不受影响的前提下，公司及 控股子公司使用部分闲置自有资金进行委托理财及证券投资，提高自有资金使用效率，争取 增加现金资产收益，为公司和股东创造更大的投资回报。 杭州微光电子股份有限公司 关于使用部分闲置自有资金进行委托理财及证券投资的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 1、投资种类：1）委托理财：委托银行、证券、基金、保险资产管理机构、金融资产投 资公司等专业理财机构对杭州微光电子股份有限公司（以下简称"公司"）及控股子公司闲 置自有资金进行投资和管理或者购买相关理财产品的行为，包括银行理财产品、资产管理公 司资产管理计划、证券公司、基金公司及保险公司发行的各类产品等；2）证券投资：包括 新股配售或者申购、 ...

证券代码：002801 证券简称：微光股份 公告编号：2025-020 杭州微光电子股份有限公司 关于继续开展商品期货套期保值业务的公告 本公司及董事会全体成员保证信息披露的内容真实、准确、完整，没有虚假 记载、误导性陈述或重大遗漏。 重要内容提示： 1、交易目的：通过套期保值，有效对冲原材料价格波动风险。 2、交易品种、交易工具及交易场所：在上海期货交易所挂牌交易的金属铜期货、铝期 货合约。 3、交易金额：杭州微光电子股份有限公司（以下简称"公司"）开展商品期货套期保值 业务，所需保证金最高占用额不超过人民币 3,000 万元，最高持仓合约金额（任一交易日最 高合约价值）不超过人民币 23,000 万元。在有效期内，前述额度可循环滚动使用，有效期 内预计任一时点的交易金额（含前述投资的收益进行再投资的相关金额）不超过前述最高额 度。 4、已履行及拟履行的审议程序：该事项已经公司第六届董事会第五次会议审议通过， 尚需提交公司股东大会审议。 5、风险提示：开展商品期货套期保值业务存在固有的市场风险、流动性风险、技术风 险、操作风险、法律风险、政策风险等风险，公司将积极落实管控制度和风险防范措施，审 慎执行套期保 ...

杭州微光电子股份有限公司 关于开展外汇衍生品交易业务的可行性分析报告 一、开展外汇衍生品交易业务概述 5、投资期限：在前述额度范围内外汇衍生品交易业务的期限为自本事项经股东大会审 议通过之日起 12 个月内。 6、资金来源：只涉及自有资金，不涉及募集资金或银行信贷资金。 7、实施方式：董事会提请股东大会授权公司董事长在上述额度范围内行使相关决策权， 该授权期限自本事项经股东大会审议通过之日起 12 个月内有效。 二、开展外汇衍生品交易业务风险分析 公司拟开展的外汇衍生品交易业务将遵循合法、审慎、安全、有效的原则，以正常生产 经营为基础，不进行投机和套利交易，但进行外汇衍生品交易仍会存在一定的风险： 1、市场风险 外汇衍生品交易合约汇率、利率与到期日实际汇率、利率的差异将产生交易损益；在外 汇衍生品的存续期内，以公允价值进行计量，每一会计期间将产生重估损益，至到期日重估 1、投资目的：杭州微光电子股份有限公司（以下简称"公司"）产品出口占比超过 50%， 主要采用外币结算。受国际政治、经济形势等因素影响，汇率和利率波动幅度加大，外汇市 场风险增加，为防范并降低外汇汇率及利率波动带来的经营风险，公司拟开展外汇衍生 ...

证券代码：002801 证券简称：微光股份 公告编号：2025-023 杭州微光电子股份有限公司 关于为子公司提供授信担保额度的公告 本公司及董事会全体成员保证本公告内容真实、准确、完整，没有虚假记载、 误导性陈述或重大遗漏。 一、担保情况概述 杭州微光电子股份有限公司（以下简称"公司"）于 2025 年 7 月 4 日召开第六届董事 会第五次会议，会议审议通过了《关于为子公司提供授信担保额度的议案》，为满足子公司 微光（泰国）有限公司（以下简称"微光泰国"）日常生产经营和业务发展需求，公司拟为 微光泰国申请银行授信（包括但不限于银行贷款、承兑、保函等，下同）提供担保，担保总 额不超过人民币 6,000 万元；担保方式为保证担保、抵押担保、质押担保等；在担保额度内 资金可以滚动使用，即任一时点的担保余额不超过人民币 6,000 万元。 该事项尚需提交股东大会审议，董事会提请股东大会授权公司董事长在担保额度范围内 具体负责与银行签订相关文件，该担保额度有效期及授权期限自该议案经股东大会审议通过 之日起 12 个月内有效，本事项不构成关联交易。 | | 被担保 | 担保方持股比 | 被担保方最 | 截至目前 | ...