福蓉科技: 关于全资子公司开展套期保值业务的公告

Core Viewpoint - The company aims to mitigate raw material price volatility risks and ensure operational stability through aluminum futures hedging activities [1][2]. Group 1: Transaction Overview - The transaction purpose is to effectively prevent or mitigate raw material price fluctuations, ensuring stable operations [1]. - The trading instrument involved is aluminum ingots, with a maximum margin amount set at RMB 4.8 million [2]. - The funding source for the transaction will be the company's own funds [2]. - The trading venue is the Shanghai Futures Exchange, and the trading period will commence upon approval of the hedging activities [2]. Group 2: Approval Process - The proposal for the hedging activities was approved unanimously by the board's audit committee and the board of directors [2]. Group 3: Risk Analysis - Market risk arises from potential asymmetric price movements between futures and spot markets, which could negate the hedging effect [3]. - Operational risk may occur if trading personnel do not follow established procedures or fully understand derivative information [3]. - Liquidity risk could arise from insufficient market activity, making it difficult to execute trades [3]. - Internal control risk is associated with the complexity of futures trading and potential inadequacies in the internal control system [3]. - Technical risk may stem from incomplete computer systems affecting trading operations [3]. Group 4: Risk Control Measures - The company will align hedging activities with its production needs, limiting futures trading to aluminum ingots [4]. - The company will manage its own funds prudently for hedging activities, adhering to the approved margin limits [4]. - The company will monitor futures trading closely and select appropriate contract months to avoid liquidity risks [4]. - Professional personnel will be employed, and strict authorization and segregation of duties will be established to enhance risk management [4]. - A reporting and internal audit mechanism will be established to oversee the hedging activities and ensure compliance with board authorizations [5]. Group 5: Impact on the Company - Engaging in commodity hedging activities will allow the company to utilize the price and risk hedging functions of the futures and options markets, thereby stabilizing production costs [5].