XJJW(SH:600888) Zheng Quan Zhi Xing·2025-09-04 09:12Core Viewpoint - The company plans to implement a hedging strategy for its subsidiary to mitigate the risks associated with fluctuating alumina prices, as it prepares for the launch of a new alumina production project in 2026 [1][2][3] Meeting Details - The fifth extraordinary general meeting of shareholders is scheduled for September 12, 2025, with both on-site and online voting options available [1] - The meeting will include the election of voting personnel, discussion of the hedging proposal, shareholder speeches, and the announcement of voting results [1] Hedging Proposal - The proposal involves the subsidiary, Fangchenggang Company, engaging in alumina hedging to stabilize profits against price volatility [2][3] - The project is expected to produce 2.4 million tons of alumina annually, with sales commencing in the first half of 2026 [1] Financial Aspects - Fangchenggang Company will utilize its own funds for the hedging activities, with a maximum margin requirement of 1.152 billion yuan and a maximum contract value of 9.6 billion yuan on any trading day [2][3] - The hedging activities will be limited to a maximum of 2.4 million tons of alumina over the next 12 months [3] Risk Management - The company emphasizes that the hedging strategy will strictly avoid speculative trading and will be aligned with actual production needs [2][4] - A comprehensive risk management framework will be established to address potential liquidity risks and operational errors [4][5] Accounting Treatment - The company will adhere to relevant accounting standards for financial instruments and hedging activities, ensuring proper financial reporting and compliance [5]