东方电缆: 宁波东方电缆股份有限公司期货套期保值业务管理制度（2025年8月修订）

Core Viewpoint - The company has established a comprehensive management system for futures hedging to mitigate price risks associated with raw material procurement, ensuring the protection of the company's and shareholders' interests [1][2]. Group 1: General Principles - The hedging activities are strictly limited to the company's operational needs and must not involve speculation or third-party transactions [1][2]. - Futures trading must occur only in the exchange market, and the hedging quantity should not exceed the actual procurement amount [1][2]. - The company is required to maintain a hedging time frame that aligns with the pricing period of the underlying contracts [1][2]. Group 2: Organizational Structure and Responsibilities - The board of directors authorizes the general manager to establish a futures hedging working group, which includes key executives responsible for implementing the hedging strategy [2][3]. - The working group is tasked with reporting the previous year's hedging activities and submitting the current year's hedging plan to the board [2][3]. - The supply chain center is responsible for executing the hedging operations and managing the procurement of raw materials [3][4]. Group 3: Trading Process - The marketing management center is responsible for archiving relevant project documents and preparing raw material demand forms for the hedging working group [3][4]. - The hedging working group determines the futures buy quantity based on project requirements and market conditions [4]. - The supply chain center must submit funding requests for hedging operations, which are then processed by the finance department [4][5]. Group 4: Risk Management - The company employs various risk control measures to prevent and mitigate risks associated with futures hedging [5][6]. - Regular audits and checks are conducted to ensure compliance with risk management policies and procedures [5][6]. - The hedging operations must align with the physical contracts in terms of quantity and timing [5][6]. Group 5: Reporting and Documentation - Hedging operators are required to submit monthly reports detailing the status of hedging activities, including new positions and overall performance [6][8]. - All documentation related to hedging activities must be preserved for at least ten years, ensuring compliance with regulatory requirements [8][9]. Group 6: Confidentiality and Compliance - All personnel involved in futures trading must adhere to strict confidentiality protocols regarding hedging information [10][11]. - The company conducts annual evaluations of its futures brokerage firms, allowing for replacements if they do not meet performance standards [13].