凯盛资源：实现从风险对冲到产融协同的进阶

Core Viewpoint - The glass industry is undergoing transformation, and effective risk management through financial tools like futures is essential for survival and cost optimization [1][2]. Group 1: Industry Changes and Risk Management - The glass and soda ash industries are experiencing significant changes, making risk management a necessity for survival rather than an option [2]. - Futures tools have been introduced in various sectors, including float glass and polysilicon, providing new opportunities for businesses to hedge against price volatility [2][3]. - The initial engagement with futures began in 2020, evolving from indirect participation to direct hedging strategies by 2024 [2][3]. Group 2: Operational Strategies and Achievements - The company established a dedicated team to enhance its understanding of futures trading, transitioning from passive risk management to proactive profit generation [3][4]. - In April 2024, the company successfully locked in a price of 1800 CNY/ton for soda ash, mitigating the impact of rising prices on procurement costs [4]. - By utilizing flexible pricing models, the company managed to lower procurement costs by over 200 CNY/ton during a price decline, ensuring continuous production and effective inventory management [4][5]. Group 3: Risk Control and Systematic Management - The integration of futures with physical trading has transformed the glass industry, allowing participants to actively manage price and inventory risks [5][6]. - A comprehensive risk control system has been established, including daily and weekly reports to monitor market trends and manage risks effectively [6][7]. - The company emphasizes the importance of aligning futures trading with actual business operations to avoid speculative behaviors and ensure risk is manageable [7]. Group 4: Future Outlook and Industry Collaboration - The company aims to enhance collaboration within the supply chain by leveraging financial tools to address price fluctuations and reduce operational costs [7]. - There is a strong belief that futures will become a common language within the industry, facilitating better communication and cooperation among businesses [7].