TRINA(SH:688599) Zheng Quan Zhi Xing·2025-07-08 13:14Core Viewpoint - The company plans to engage in futures hedging activities in 2025 to mitigate the risks associated with the volatility of raw material prices, aiming to stabilize its operational performance and enhance risk management capabilities [1][2][6] Transaction Overview - The purpose of the transaction is to reduce uncertainties caused by raw material price fluctuations, using futures tools for hedging rather than speculation [1] - The maximum trading margin for the hedging activities will not exceed RMB 1 billion, with a duration from board approval until December 31, 2025 [1][2] - The funding source for these activities will be the company's own funds, without involving raised capital [2] Trading Method and Products - The trading venues include but are not limited to the Shanghai Futures Exchange and the Guangzhou Futures Exchange, with products related to the company's production such as polysilicon, lithium carbonate, aluminum, and silver [2] Review Procedures - The company held multiple meetings on July 8, 2025, to approve the hedging proposal, which does not require shareholder approval [2][6] Risk Analysis and Control Measures - The hedging activities are not aimed at speculation, but there are inherent risks such as market irrationality and liquidity issues [3][4] - Risk control measures include establishing clear approval processes, operational procedures, and risk management systems, along with training for personnel involved [4][5] Impact on the Company - The hedging activities are expected to effectively control the impact of raw material price volatility, supporting stable operational performance and enhancing industry competitiveness [4][5][6] - The accounting treatment for these activities will comply with relevant accounting standards, ensuring proper financial reporting [5] Opinions from Committees - The audit committee, board of directors, and supervisory committee all agree that the hedging activities are necessary and will not harm the interests of the company or its shareholders [6][7]