珠免集团: 关于开展外汇套期保值业务的公告

Summary of Key Points Core Viewpoint - The company plans to conduct foreign exchange hedging activities with a total limit not exceeding 300 million RMB or equivalent foreign currency to mitigate risks associated with foreign exchange market volatility and enhance financial stability [2][4]. Group 1: Overview of Hedging Activities - The purpose of the hedging activities is to effectively avoid risks from foreign exchange market fluctuations, improve the efficiency of foreign currency usage, and reduce financial costs [2][3]. - The total amount for the hedging activities is capped at 300 million RMB or equivalent foreign currency, applicable to the company and its subsidiaries combined [2][3]. - The types of transactions include forward foreign exchange settlement, currency swaps, foreign exchange options, and interest rate swaps, focusing solely on hedging actual foreign exchange risks [2][3]. Group 2: Transaction Details - The hedging activities will be limited to currencies relevant to the company's operations, such as Japanese Yen and US Dollar [3]. - The validity period for the hedging limit is 12 months from the date of board approval, with the limit being reusable within this timeframe [3]. - Transactions will be conducted with qualified financial institutions, including large state-owned banks and foreign banks, to ensure safety and reduce transaction risks [3]. Group 3: Approval Process - The proposal for the hedging activities was approved by the company's board of directors with unanimous support during the 37th meeting of the 8th board [4]. - The board has authorized the management team to handle specific operations related to the hedging activities, including margin payments and signing relevant legal documents [4]. Group 4: Risk Management and Impact - The core of the hedging strategy is to counteract exchange rate fluctuations, with potential risks including liquidity risk and counterparty default [5]. - The company has established a management framework for the hedging activities, detailing operational principles, approval authority, and risk management processes to control transaction risks [5]. - The anticipated hedging activities are expected to stabilize operations and enhance financial robustness without significantly adverse effects on the company's business [5][6].