华体科技: 四川华体照明科技股份有限公司关于增加商品套期保值业务保证金额度的可行性分析报告

Core Viewpoint - The company aims to enhance its risk management capabilities by increasing the margin for its commodity hedging business, specifically in lithium carbonate, to mitigate the adverse effects of price volatility on its operations [1][2][6] Group 1: Background and Necessity - The company, through its subsidiary Sichuan Huati Lithium Energy Co., Ltd., is engaged in lithium carbonate-related products, which have experienced significant price fluctuations in recent years [1] - To reduce the negative impact of these price fluctuations on its operations, the company has decided to conduct commodity futures and derivatives trading for hedging purposes [1][2] Group 2: Feasibility Analysis - The increase in the margin for the hedging business is necessary due to the rising volume of lithium carbonate business and heightened market volatility [1][3] - The company has established a hedging policy and formed a leadership team to oversee the operations, ensuring compliance with risk management protocols [2][3] Group 3: Trading Details - The trading activities will focus solely on lithium carbonate futures and derivatives that are directly related to the company's operations, conducted on legally operating domestic exchanges [2][3] - The maximum margin and premium for these trading activities will not exceed RMB 30 million, which can be recycled within the effective period [3] Group 4: Risk Management - The company acknowledges the inherent risks associated with hedging, including potential losses from price discrepancies and market volatility [4][5] - To mitigate these risks, the company has implemented strict approval processes, operational guidelines, and risk control measures [5][6] Group 5: Accounting Principles - The company will adhere to relevant accounting standards for financial instruments and hedging activities, ensuring accurate reporting in financial statements [5][6] Group 6: Conclusion - The decision to engage in hedging activities and increase the margin is deemed practical and aligned with the company's operational needs, supported by a robust internal control framework [6]