HPEC(SH:600312) Zheng Quan Zhi Xing·2025-05-13 11:26Core Viewpoint - The company aims to conduct commodity futures hedging business to mitigate risks associated with raw material price fluctuations, specifically focusing on silver as a raw material for production [1][2]. Summary by Sections Transaction Overview - The purpose of the transaction is to avoid risks from raw material price volatility, stabilize product costs, and reduce the impact on operations [2]. - The company plans to hedge up to 3.5 tons of silver, with a maximum margin and premium of 3.73 million yuan and a maximum contract value of 14.35 million yuan [1][2]. - The hedging will be conducted using the company's own funds [2]. Transaction Details - The hedging business will be limited to silver, utilizing financial instruments such as futures, options, forwards, and swaps, with trading venues including the Shanghai Futures Exchange [3]. - The duration of the hedging activities will not exceed 12 months from the board's approval date [3]. Approval Process - The board of directors approved the hedging proposal during meetings held on May 13, 2025, and the proposal does not require shareholder approval [3]. Risk Analysis and Control Measures - The company has established a comprehensive risk management system to ensure the smooth execution of futures business and effective risk control [4]. - The company will not engage in speculative trading and will strictly control the scale of funds used for hedging [4]. Impact on the Company - Engaging in commodity futures hedging is expected to enhance the company's ability to respond to market price fluctuations, thereby strengthening its core competitiveness [4]. - The planned margin investment aligns with the company's own funds and operational needs, ensuring no adverse effects on normal business operations [4]. Accounting Treatment - The company will adhere to relevant accounting standards for financial instruments and hedging accounting to ensure proper accounting treatment [5].