天合光能: 天合光能股份有限公司期货和衍生品交易管理制度

Core Viewpoint - The document outlines the futures and derivatives trading management system of Trina Solar Limited, emphasizing risk management, compliance with regulations, and the structured approach to hedging activities. Group 1: General Principles - The system applies to the futures and derivatives trading activities of the company and its wholly-owned or controlled subsidiaries, which must be managed and operated uniformly by the company [3] - The trading activities must comply with relevant national laws and regulations, ensuring the safety of company assets [3][4] Group 2: Hedging Activities - Hedging activities include selling existing spot inventory, hedging fixed-price purchase and sales contracts, and hedging expected procurement or production volumes [2][3] - The company is prohibited from engaging in speculative trading and must only use hedging instruments related to its production and operational needs [4][5] Group 3: Approval and Management Process - A feasibility analysis report must be prepared for futures and derivatives trading and submitted for board approval, especially if certain financial thresholds are met [6] - The company must establish a trading working group responsible for the implementation of trading projects, with oversight from the audit department [15][16] Group 4: Risk Management and Reporting - The company must continuously track market price changes and assess the risk exposure of traded futures and derivatives, reporting to management and the board [10][23] - Any significant losses or risks must be reported immediately to senior management and the board, with necessary remedial measures discussed [23] Group 5: Information Disclosure - The company is required to disclose information regarding its hedging activities, including trading purposes, instruments, and any significant losses that meet specified thresholds [25][26] - The disclosure must be timely and accurate, ensuring transparency in the company's trading activities [12][28]