石大胜华: 石大胜华关于开展商品期货套期保值业务的可行性分析报告

Group 1 - The purpose of conducting commodity futures hedging business is to reduce operational risks associated with raw material price fluctuations and to ensure stable business performance [1] - The company plans to limit its hedging activities to lithium carbonate futures, with a maximum margin amount of RMB 24 million and a maximum contract value of RMB 100 million on any trading day [1] - The authorization for this hedging activity will be valid for twelve months from the date of approval at the third extraordinary general meeting of shareholders in 2025, with the possibility of rolling use within the approval period [1] Group 2 - The company emphasizes that the hedging business is not for speculative purposes but to mitigate the impact of severe price fluctuations in lithium carbonate on its operations [1] - Risks associated with the hedging business include potential losses due to market irrationality, low contract activity, and unforeseen system failures [2] - The company has established clear decision-making authority, approval processes, and risk control measures to manage these risks effectively [2] Group 3 - The accounting principles for the hedging business will follow relevant regulations from the Ministry of Finance, including standards for financial instruments and hedge accounting [3][4] - The feasibility analysis concludes that the hedging business is necessary for stable operations and that the risks involved are manageable [4] - The company has set clear guidelines for the hedging business, including limits on amounts and specific implementation strategies to mitigate risks [4]