微光股份: 关于继续开展商品期货套期保值业务的公告

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].