WEIGUANG(SZ:002801) Sou Hu Cai Jing·2025-07-06 18:06Core 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].